HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0436%/8h= +47.8% APRnext payment +$0.55 per $10,000 · paid last 24h −0.038%

Price spread now: 01 Exchange against Bluefin+0.002%7-day average +0.033% · 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−$48as in the Price arb table

costs, in and out, $10k−$450.446% of the position

Long on Bluefin Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.303%+$30 · spread now +0.002%, 7d avg +0.033%

Together, before fees+0.316%+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. 01 Exchange is 0.031% cheaper against Bluefin than usual: you would sell low and buy high (spread +0.002% now, against its 7-day average of +0.033%). If the spread goes back, that is −$3 on $10k: about 6 hours of funding at the current rate (+$13 a day). At the pace of the last 4 days (+0.012% in total) that is about 9.7 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.012% in total (about 1.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.55 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin HYPE-PERP	95.007	−0.0556	get 0.0070% / 1h	21m 03s	$79K	$150K	20x
Short	01 Exchange HYPEUSD	95.009	−0.0120	pay 0.0015% / 1h	21m 03s	$90K	$355K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.002%Rate

Funding earned: $91.6
Price spread: +0.002% → +0.033%: −$3.12
Slippage, 4 orders: −$30.59
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: $43.89
Costs to cover: 0.446%
Break-even: 3.6 days

Slippage from Bluefin: live order book, 13 min ago; 01 Exchange: live order book, 13 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, 13 min ago	4.08 bp	15.4 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell 01 Exchange live order book, 13 min ago	0.64 bp	7.7 bp −$8	18.6 bp −$186	doesn't fit	doesn't fit

HYPE on 55 venues

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	−0.0816%	1h	94.834	−0.182%	$211K	$268K	7x	as long as short
Bluefin HYPE-PERPlong	−0.0556%	1h	95.007	long leg	$79K	$150K	20x
Aftermath Perps HYPEUSD	−0.0295%	1h	94.654	−0.372%	$22K	$20K	10x	as long as short
Phemex HYPEUSDT	−0.0286%	8h	94.968	−0.041%	$13.0M	$2.8M	50x	as long as short
Bullet HYPE-USD	−0.0237%	1h	95.015	+0.008%	$113K	$577K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0150%	1h	94.920	−0.092%	$705K	$1.3M	10x	as long as short
01 Exchange HYPEUSDshort	−0.0120%	1h	95.009	+0.002%	$90K	$355K	20x
Arcus HYPE-USD	−0.0112%	1h	94.985	−0.023%	$1.0M	$3.3M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.963	−0.046%	$3K	$331	25x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	95.019	+0.012%	$18.9M	$35.6M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0010%	8h	95.030	+0.024%	$319.7M	$291.9M	75x	as long as short
dYdX HYPE-USD	−0.0008%	1h	95.006	−0.001%	$130K	$92K	5x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	95.002	−0.005%	$147K	$676K	20x	as long as short
Gate HYPE_USDT	−0.0004%	4h	95.043	+0.038%	$52.1M	$55.6M	75x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	95.108	+0.106%	$1.8M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.996	−0.011%	$19K	$275K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.947	−0.063%	$85K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.372	−0.668%	$209K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0010%	1h	94.160	−0.891%	$16.3M	$7.5M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	95.070	+0.066%	$4.7M	$5.8M	50x	as long as short
Bitget HYPEUSDT	+0.0034%	4h	95.039	+0.034%	$228.4M	$96.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0040%	8h	95.025	+0.019%	$118.7M	$326.7M	50x	as long as short
Backpack HYPE_USDC_PERP	+0.0041%	1h	95.015	+0.008%	$7.6M	$10.3M	20x	as long as short
Vest HYPE-PERP	+0.0043%	1h	95.048	+0.044%	—	$190K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0044%	8h	95.000	−0.007%	$339K	$39K	20x	as long as short
SoDEX HYPE-USD	+0.0065%	1h	95.031	+0.025%	$2.1M	$1.9M	10x	as long as short
edgeX HYPEUSDC	+0.0088%	4h	94.719	−0.304%	$5.0M	$30.9M	30x	as long as short
Lighter HYPE	+0.0096%	1h	95.011	+0.004%	$16.3M	$63.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.018	+0.012%	$3.2M	$10.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.985	−0.023%	$150K	$1.2M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0097%	1h	95.110	+0.108%	$7.5M	$4.4M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.970	−0.039%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.965	−0.044%	$7.3M	$51.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.182	+0.184%	$2.09B	$674.3M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	95.028	+0.023%	$9.0M	$38.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.990	−0.018%	$10.2M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	95.051	+0.046%	$382.1M	$932.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.213	−0.835%	$219K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	95.075	+0.072%	$96.8M	$88.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.044	+0.039%	$47.4M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.044	+0.039%	—	$52.7M	—	as long as short
Variational Omni HYPE	+0.0100%	8h	94.267	−0.779%	$29.8M	$56.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.860	−0.154%	$7.7M	$44.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.780	−0.239%	$355K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.917	−0.095%	$696K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.055	+0.051%	$500K	$2.7M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.034	+0.028%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.090	+0.087%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.996	−0.011%	$18.3M	$42.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.051	+0.046%	$402K	$148K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.927	−0.084%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.170	+0.172%	$31K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	94.979	−0.029%	$83K	$105K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.069	+0.065%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.000	−0.007%	$17.3M	$12.4M	75x	as long as short