HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: Popdex against Bulk+0.143%7-day average −0.030% · 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+$2as in the Price arb table

costs, in and out, $10k−$150.155% of the position

Long on Bulk Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.009%−$1 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now +0.143%, 7d avg −0.030%

Together, before fees−0.070%−$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.173% dearer against Bulk than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk HYPE-USD	94.307	0.0100	pay 0.0013% / 1h	18m 10s	$218K	$12K	10x
Short	Popdex HYPEUSDT	94.442	0.0096	get 0.0012% / 1h	18m 10s	$81K	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Bulk. 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 BulkbpFee PopdexbpOrdersPrice spread, now +0.143%Rate

Funding earned: −$0.84
Price spread: +0.143% → −0.030%: $17.3
Slippage, 4 orders: −$2.09
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: $0.97
Costs to cover: 0.155%
Break-even: from the start

Slippage from Bulk: live order book, 21 min ago; Popdex: 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 Bulk live order book, 21 min ago	0.53 bp	4.0 bp −$4	5.5 bp −$55	11.4 bp −$1,139	27.6 bp −$13.8K
Sell Popdex live order book, 1 min ago	0.16 bp	3.4 bp −$3	4.4 bp −$44	24.1 bp −$2,410	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	−0.1712%	1h	94.261	−0.049%	$202K	$255K	7x	as long as short
Bluefin HYPE-PERP	−0.0396%	1h	94.453	+0.155%	$80K	$152K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0214%	1h	94.300	−0.007%	$710K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0208%	1h	94.443	+0.145%	$111K	$576K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0148%	1h	94.242	−0.069%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.488	+0.192%	$88K	$367K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.400	+0.099%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0061%	1h	94.393	+0.091%	$16.4M	$7.5M	10x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.422	+0.122%	$1.0M	$3.6M	10x	as long as short
Lighter HYPE	−0.0032%	1h	94.434	+0.135%	$16.4M	$64.5M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	−0.0020%	4h	94.439	+0.140%	—	$52.7M	—	as long as short
Orderly PERP_HYPE_USDC	−0.0009%	4h	94.440	+0.141%	$147K	$686K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.387	+0.085%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.516	+0.222%	$1.9M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.117	−0.201%	$208K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.468	+0.171%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.489	+0.193%	$124K	—	150x	as long as short
Polymarket Perps HYPE-USD	+0.0008%	1h	94.490	+0.194%	$498K	$2.8M	20x	as long as short
Bybit HYPEUSDT	+0.0017%	8h	94.425	+0.125%	$317.4M	$289.3M	75x	as long as short
Bitget HYPEUSDT	+0.0028%	4h	94.422	+0.122%	$226.9M	$100.1M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0033%	8h	94.465	+0.168%	$338K	$154K	20x	as long as short
Phemex HYPEUSDT	+0.0036%	8h	94.399	+0.098%	$12.9M	$2.9M	50x	as long as short
Vest HYPE-PERP	+0.0040%	1h	94.489	+0.193%	—	$190K	5x	as long as short
SoDEX HYPE-USD	+0.0051%	1h	94.459	+0.161%	$2.1M	$1.9M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.440	+0.141%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0066%	8h	94.432	+0.133%	$117.9M	$325.4M	50x	as long as short
Gate HYPE_USDT	+0.0092%	4h	94.436	+0.137%	$50.2M	$56.8M	75x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	93.993	−0.333%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.450	+0.152%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDTshort	+0.0096%	1h	94.442	+0.143%	$81K	$1.2M	50x
Katana Perps HYPE-USD	+0.0100%	8h	94.440	+0.141%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.443	+0.145%	$7.2M	$53.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.524	+0.230%	$2.08B	$687.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.452	+0.154%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.459	+0.162%	$10.2M	$15.0M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.468	+0.171%	$378.8M	$934.2M	75x	as long as short
Bulk HYPE-USDlong	+0.0100%	1h	94.307	long leg	$218K	$12K	10x
MEXC HYPE_USDT	+0.0100%	4h	94.457	+0.159%	$89.1M	$84.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.449	+0.151%	$46.9M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.400	+0.099%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.079	−0.242%	$29.4M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.093	−0.227%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.028	−0.296%	$369K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.315	+0.009%	$682K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.526	+0.232%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.550	+0.258%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.444	+0.145%	$18.3M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.468	+0.171%	$399K	$154K	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0110%	1h	94.540	+0.247%	$7.5M	$4.3M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0022%	1h	94.497	+0.202%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.740	+0.459%	$31K	$340K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.476	+0.180%	$20.2M	$30.2M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.462	+0.165%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.451	+0.153%	$85K	$120K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.362	+0.058%	$17.2M	$12.4M	75x	as long as short