HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1075%/8h= −117.7% APRnext payment −$1.34 per $10,000 · paid last 24h −0.062%

Price spread now: Arcus against Coinbase International−0.126%7-day average −0.013% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$240.237% of the position

Long on Coinbase International Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.046%+$5 on $10k

Price spread, last 4 days (all we have)+0.323%+$32 · spread now −0.126%, 7d avg −0.013%

Together, before fees+0.369%+$37 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$32 a day on $10k at the current rate, and Arcus is 0.114% cheaper against Coinbase International than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.013%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.046% in total (about 4.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.34 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	Coinbase International HYPE-PERP-INTX	93.300	0.0176	pay 0.0022% / 1h	10m 11s	$4.8M	$5.5M	50x
Short	Arcus HYPE-USD	93.182	−0.0899	pay 0.0112% / 1h	10m 11s	$1.2M	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Coinbase International. 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 Coinbase InternationalbpFee ArcusbpOrdersPrice spread, now −0.126%Rate

Funding earned: −$225.66
Price spread: −0.126% → −0.013%: −$11.39
Slippage, 4 orders: −$9.2
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$260.74
Costs to cover: 0.237%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Arcus: live order book, 4 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 Coinbase International live order book, 4 min ago	0.54 bp	9.6 bp −$10	14.9 bp −$149	41.7 bp −$4,169	doesn't fit
Sell Arcus live order book, 4 min ago	0.54 bp	3.2 bp −$3	4.2 bp −$42	197.3 bp −$19.7K	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	−0.0984%	1h	93.267	−0.035%	$197K	$226K	7x	as long as short
Arcus HYPE-USDshort	−0.0899%	1h	93.182	−0.126%	$1.2M	$3.8M	10x
Ondo Perps HYPE-USD.P	−0.0129%	1h	93.170	−0.139%	$698K	$1.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.300	0.000%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0074%	1h	93.238	−0.066%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.309	+0.010%	$85K	$345K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0048%	4h	93.217	−0.089%	$155K	$654K	20x	as long as short
Phemex HYPEUSDT	−0.0011%	8h	93.219	−0.087%	$12.6M	$2.7M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.319	+0.020%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.259	−0.044%	$23K	$319K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.252	−0.052%	$63K	—	150x	as long as short
Bullet HYPE-USD	+0.0005%	1h	93.217	−0.089%	$111K	$579K	20x	as long as short
Aster HYPEUSDT	+0.0024%	4h	93.264	−0.038%	$8.8M	$35.9M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.156	−0.154%	$212K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0036%	4h	93.207	−0.100%	—	$53.0M	—	as long as short
Gate HYPE_USDT	+0.0046%	4h	93.217	−0.089%	$44.5M	$55.5M	75x	as long as short
Bybit HYPEUSDT	+0.0047%	8h	93.192	−0.116%	$320.6M	$277.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0074%	8h	93.185	−0.123%	$113.7M	$299.2M	50x	as long as short
Derive HYPE-PERP	+0.0086%	1h	93.202	−0.105%	$16.2M	$7.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.246	−0.057%	$16.2M	$62.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.243	−0.061%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.290	−0.011%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.336	+0.038%	$340K	$162K	20x	as long as short
MEXC HYPE_USDT	+0.0098%	4h	93.199	−0.108%	$89.5M	$81.2M	100x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.236	−0.068%	$377.0M	$880.3M	75x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.230	−0.075%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.290	−0.011%	$5.8M	$43.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.252	−0.051%	$2.03B	$657.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.337	+0.040%	$10.0M	$14.8M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.231	−0.074%	$45.8M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.187	−0.121%	$225.4M	$96.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.186	−0.122%	$7.4M	$10.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.197	−0.111%	$31.4M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.122	−0.191%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.125	−0.188%	$338K	$998K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.265	−0.038%	$666K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.325	+0.027%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.299	−0.001%	$473K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.197	−0.110%	$79K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.323	+0.025%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.238	−0.066%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.155	−0.156%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.191	−0.117%	$18.3M	$42.9M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.233	−0.071%	$397K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0112%	4h	93.083	−0.233%	$5.0M	$28.9M	30x	as long as short
HTX HYPE-USDT	+0.0133%	4h	93.433	+0.143%	$1.4M	$6.0M	75x	as long as short
Coinbase International HYPE-PERP-INTXlong	+0.0176%	1h	93.300	long leg	$4.8M	$5.5M	50x
Reya HYPERUSDPERP	+0.0259%	1h	93.213	−0.093%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0269%	8h	93.302	+0.002%	$1.9M	$5.2M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0308%	1h	93.304	+0.004%	$7.4M	$4.3M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.251	−0.052%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0338%	4h	93.247	−0.057%	$17.0M	$11.5M	75x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.387	+0.093%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.160	−0.150%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0686%	1h	93.312	+0.012%	$20.7M	$29.8M	50x	as long as short