HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0696%/8h= +76.2% APRnext payment +$0.87 per $10,000 · paid last 24h +0.073%

Price spread now: RISEx against Bluefin+0.051%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$440.436% of the position

Long on Bluefin Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.217%+$22 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now +0.051%, 7d avg +0.029%

Together, before fees+0.278%+$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and RISEx is 0.022% dearer against Bluefin than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.029%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.217% in total (about 20.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.87 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin HYPE-PERP	94.938	−0.0530	get 0.0066% / 1h	16m 13s	$79K	$137K	20x
Short	RISEx HYPE/USDC	94.986	0.0166	get 0.0021% / 1h	16m 13s	$3.2M	$5.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Bluefin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BluefinbpFee RISExbpOrdersPrice spread, now +0.051%Rate

Funding earned: $146.22
Price spread: +0.051% → +0.029%: $2.2
Slippage, 4 orders: −$30.61
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee RISEx: 3 bp × 2 orders: −$6
Net: $104.81
Costs to cover: 0.436%
Break-even: 2.0 days

Slippage from Bluefin: live order book, 36 min ago; RISEx: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bluefin live order book, 36 min ago	5.06 bp	16.5 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell RISEx live order book, 1 min ago	2.00 bp	5.0 bp −$5	6.3 bp −$63	doesn't fit	doesn't fit

HYPE on 54 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-P	−0.1432%	1h	94.904	−0.036%	$211K	$261K	7x	as long as short
Bluefin HYPE-PERPlong	−0.0530%	1h	94.938	long leg	$79K	$137K	20x
Kraken Futures PF_HYPEUSD	−0.0377%	1h	94.949	+0.012%	$18.6M	$35.4M	50x	as long as short
Bullet HYPE-USD	−0.0325%	1h	94.983	+0.047%	$114K	$581K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0237%	1h	94.910	−0.029%	$691K	$1.3M	10x	as long as short
Phemex HYPEUSDT	−0.0194%	8h	94.907	−0.033%	$13.0M	$2.8M	50x	as long as short
Arcus HYPE-USD	−0.0159%	1h	94.940	+0.002%	$1.1M	$2.5M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0152%	1h	94.993	+0.058%	$22K	$17K	10x	as long as short
01 Exchange HYPEUSD	−0.0144%	1h	94.989	+0.054%	$92K	$348K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.000	+0.065%	$3K	$331	25x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest HYPE-PERP	−0.0077%	1h	95.040	+0.108%	—	$80K	5x	as long as short
Gate HYPE_USDT	−0.0070%	4h	94.969	+0.033%	$54.2M	$54.7M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0026%	4h	94.915	−0.024%	$147K	$646K	20x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0024%	1h	94.980	+0.044%	$4.7M	$5.6M	50x	as long as short
SoDEX HYPE-USD	−0.0011%	1h	94.934	−0.004%	$2.1M	$378K	10x	as long as short
Bulk HYPE-USD	−0.0008%	1h	95.000	+0.065%	$231K	$12K	10x	as long as short
Aster HYPEUSDT	−0.0005%	4h	94.938	0.000%	$9.0M	$34.1M	300x	as long as short
OKX HYPE-USDT-SWAP	−0.0001%	8h	94.925	−0.014%	$118.8M	$311.3M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	95.014	+0.080%	$130K	$92K	5x	as long as short
BingX HYPE-USDT	0.0000%	4h	94.965	+0.028%	—	$49.2M	—	as long as short
Perpl HYPE	0.0000%	43m	94.966	+0.029%	$23K	$263K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.990	+0.055%	$99K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.881	−0.060%	$200K	$1.0M	10x	as long as short
Lighter HYPE	+0.0024%	1h	94.932	−0.006%	$16.2M	$61.1M	20x	as long as short
Bitget HYPEUSDT	+0.0030%	4h	94.949	+0.012%	$228.1M	$89.3M	75x	as long as short
Bybit HYPEUSDT	+0.0039%	8h	94.957	+0.020%	$320.5M	$272.0M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0063%	8h	94.946	+0.009%	$339K	$36K	20x	as long as short
edgeX HYPEUSDC	+0.0090%	4h	94.908	−0.031%	$5.0M	$29.9M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.953	+0.016%	$3.2M	$10.0M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.965	+0.028%	$270K	$1.1M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0097%	1h	95.031	+0.098%	$7.5M	$4.3M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	94.910	−0.029%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.930	−0.008%	$7.3M	$53.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.086	+0.156%	$2.11B	$657.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.971	+0.035%	$10.2M	$13.6M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.946	+0.008%	$381.5M	$874.5M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.975	+0.039%	$89.2M	$87.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.972	+0.036%	$48.1M	$17.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.091	+0.161%	$7.8M	$10.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.906	−0.034%	$29.8M	$54.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.989	+0.054%	$7.7M	$41.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.974	+0.038%	$348K	$965K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.073	+0.142%	$692K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.012	+0.078%	$499K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.016	+0.082%	$32K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.096	+0.166%	$1.4M	$6.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.900	−0.040%	$18.2M	$40.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.946	+0.009%	$401K	$130K	20x	as long as short
Kalshi KXHYPEPERP	+0.0110%	8h	95.080	+0.150%	$1.8M	$5.2M	2.3x	as long as short
RISEx HYPE/USDCshort	+0.0166%	1h	94.986	+0.051%	$3.2M	$5.5M	20x
Reya HYPERUSDPERP	+0.0270%	1h	94.951	+0.014%	$85K	$99K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.011	+0.077%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.018	+0.084%	$17.3M	$11.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0850%	1h	95.480	+0.571%	$31K	$335K	12x	as long as short