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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0364%/8h= +39.9% APRnext payment +$0.46 per $10,000 · paid last 24h −0.002%
Price spread now: Kraken Futures against Bulk+0.291%7-day average −0.002% · 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+$4as in the Price arb table
costs, in and out, $10k−$260.257% of the position
Long on BulkShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.025%+$3 on $10k
Price spread, last 3 days (all we have)−0.327%−$33 · spread now +0.291%, 7d avg −0.002%
Together, before fees−0.301%−$30 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Kraken Futures is 0.293% dearer against Bulk than usual: you sell high and buy low: +$29 more if the spread goes back to its 7-day average of −0.002%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.025% in total (about 2.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.46 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBulk HYPE-USD93.2800.0100pay 0.0013% / 1h4m 49s$204K$8K10x
ShortKraken Futures PF_HYPEUSD93.5510.0464get 0.0058% / 1h4m 49s$20.9M$28.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bulk. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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

Profit calculator

Funding earned
$76.5
Price spread: +0.291% → −0.002%
$29.3
Slippage, 4 orders
−$8.74
Fee Bulk: 3.5 bp × 2 orders
−$7
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$80.06
Costs to cover
0.257%
Break-even
from the start
Slippage from Bulk: live order book, 14 min ago; Kraken Futures: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bulk live order book, 14 min ago0.54 bp4.8 bp −$57.1 bp −$7111.1 bp −$1,10936.6 bp −$18.3K
Sell Kraken Futures live order book, 4 min ago0.86 bp6.5 bp −$77.1 bp −$7113.5 bp −$1,35557.8 bp −$28.9K

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps HYPEUSD−0.0477%1h93.324+0.047%$22K$22K10xas long as short
Hibachi HYPE/USDT-P−0.0416%1h93.238−0.045%$197K$229K7xas long as short
Arcus HYPE-USD−0.0131%1h93.366+0.092%$1.2M$3.9M10xas long as short
Ondo Perps HYPE-USD.P−0.0129%1h93.380+0.107%$699K$896K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.431+0.162%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0024%1h93.465+0.198%$91K$358K20xas long as short
dYdX HYPE-USD0.0000%1h93.615+0.359%$127K$32K5xas long as short
Perpl HYPE0.0000%43m93.408+0.138%$23K$330K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.463+0.197%$27K—150xas long as short
Popdex HYPEUSDT+0.0008%1h93.435+0.166%$58K$1.2M50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0008%4h93.582+0.324%$8.9M$35.7M300xas long as short
Orderly PERP_HYPE_USDC+0.0016%4h93.446+0.178%$176K$524K20xas long as short
Bybit HYPEUSDT+0.0020%8h93.575+0.316%$324.0M$281.3M75xas long as short
Phoenix HYPE+0.0034%1h93.456+0.189%$214K$1.2M10xas long as short
Bullet HYPE-USD+0.0056%1h93.432+0.163%$112K$577K20xas long as short
Derive HYPE-PERP+0.0059%1h93.404+0.133%$16.3M$7.0M10xas long as short
MEXC HYPE_USDT+0.0060%4h93.577+0.318%$90.4M$82.4M100xas long as short
Gate HYPE_USDT+0.0062%4h93.587+0.329%$44.2M$58.9M75xas long as short
edgeX HYPEUSDC+0.0063%4h93.210−0.076%$5.1M$29.6M30xas long as short
Binance HYPEUSDT+0.0064%4h93.573+0.314%$384.1M$886.5M75xas long as short
Lighter HYPE+0.0096%1h93.652+0.399%$18.6M$59.0M20xas long as short
Lighter RH HYPE+0.0096%1h93.635+0.381%$3.1M$12.2M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.459+0.192%$398K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.585+0.327%$340K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.440+0.172%$35K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.434+0.166%$5.9M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.628+0.373%$2.04B$664.2M10xas long as short
Pacifica HYPE+0.0100%1h93.625+0.370%$10.1M$14.5M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.570+0.311%$114.4M$312.9M50xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.452+0.184%$47.1M$18.4M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.612+0.356%$227.1M$102.7M75xas long as short
BingX HYPE-USDT+0.0100%4h93.581+0.323%—$53.8M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.462+0.195%$7.9M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h93.352+0.078%$30.8M$51.9M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.317+0.040%$7.5M$45.6M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.209−0.076%$415K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.230−0.054%$674K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.454+0.187%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.463+0.196%$494K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.434+0.165%$76K$166K20xas long as short
SunX HYPE-USDT+0.0100%4h93.475+0.209%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.435+0.166%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.399+0.128%$12.7M$2.6M50xas long as short
Bulk HYPE-USDlong+0.0100%1h93.280long leg$204K$8K10x
Extended HYPE-USD+0.0104%1h93.405+0.133%$18.2M$41.6M50xas long as short
Kalshi KXHYPEPERP+0.0120%8h93.500+0.236%$1.9M$5.2M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.490+0.225%$4.9M$5.7M50xas long as short
HTX HYPE-USDT+0.0219%4h93.585+0.327%$1.5M$7.7M75xas long as short
Injective HYPE/USDC PERP+0.0239%1h93.350+0.075%$30K$338K12xas long as short
BloFin HYPE-USDT+0.0242%4h93.400+0.129%$16.9M$12.4M75xas long as short
Reya HYPERUSDPERP+0.0248%1h93.436+0.167%$77K$159K15xas long as short
RISEx HYPE/USDC+0.0280%1h93.485+0.220%$2.7M$6.8M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0340% / S −0.0165%1h93.464+0.197%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0403%1h93.537+0.276%$7.4M$4.5M50xas long as short
Kraken Futures PF_HYPEUSDshort+0.0464%1h93.551+0.291%$20.9M$28.9M50x