HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0126%/8h= −13.8% APRnext payment −$0.16 per $10,000 · paid last 24h −0.026%

Price spread now: Ondo Perps against Coinbase International−0.086%7-day average −0.056% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 4 days (all we have)+0.086%+$9 · spread now −0.086%, 7d avg −0.056%

Together, before fees+0.049%+ Points / potential airdropOndo Perps: Active · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Ondo Perps is 0.030% cheaper against Coinbase International than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.056%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International HYPE-PERP-INTX	92.750	0.0160	pay 0.0020% / 1h	15m 31s	$4.7M	$5.5M	50x
Short	Ondo Perps HYPE-USD.P	92.670	0.0034	get 0.0004% / 1h	15m 31s	$697K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Coinbase International. 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

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee Ondo PerpsbpOrdersPrice spread, now −0.086%Rate

Funding earned: −$26.54
Price spread: −0.086% → −0.056%: −$2.99
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$44.53
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 3 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 3 min ago	3.77 bp	10.8 bp −$11	13.6 bp −$136	40.4 bp −$4,041	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Arcus HYPE-USD	−0.0948%	1h	92.676	−0.080%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0256%	1h	92.657	−0.100%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0246%	1h	92.707	−0.047%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.690	−0.065%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0065%	4h	92.678	−0.078%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	92.782	+0.035%	$87K	$361K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.692	−0.062%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.707	−0.046%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.725	−0.027%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0028%	8h	92.728	−0.024%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.Pshort	+0.0034%	1h	92.670	−0.086%	$697K	$1.1M	10x
BingX HYPE-USDT	+0.0038%	4h	92.709	−0.044%	—	$53.4M	—	as long as short
Bullet HYPE-USD	+0.0041%	1h	92.678	−0.078%	$110K	$578K	20x	as long as short
Phoenix HYPE	+0.0043%	1h	92.817	+0.072%	$210K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0045%	4h	92.728	−0.024%	$8.7M	$36.2M	300x	as long as short
Bybit HYPEUSDT	+0.0045%	8h	92.730	−0.022%	$316.6M	$281.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0090%	8h	92.735	−0.016%	$113.6M	$303.8M	50x	as long as short
Gate HYPE_USDT	+0.0094%	4h	92.707	−0.046%	$44.5M	$55.3M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	92.728	−0.023%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.727	−0.025%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.727	−0.025%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.750	0.000%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.730	−0.022%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.713	−0.040%	$7.1M	$45.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.759	+0.010%	$2.02B	$663.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.742	−0.009%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.748	−0.002%	$372.6M	$902.6M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.713	−0.040%	$87.4M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.710	−0.043%	$46.1M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.708	−0.045%	$224.4M	$98.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.681	−0.074%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.669	−0.088%	$28.7M	$57.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.760	+0.011%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.717	−0.036%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.715	−0.038%	$666K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.769	+0.021%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.729	−0.023%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.677	−0.079%	$78K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.691	−0.064%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.702	−0.052%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.704	−0.050%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.875	+0.135%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.701	−0.053%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.687	−0.067%	$18.1M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.707	−0.046%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0106%	4h	92.709	−0.044%	$5.0M	$29.6M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.270%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTXlong	+0.0160%	1h	92.750	long leg	$4.7M	$5.5M	50x
Kalshi KXHYPEPERP	+0.0236%	8h	92.830	+0.086%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0262%	1h	92.703	−0.051%	$79K	$132K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.706	−0.047%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.771	+0.023%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.733	−0.018%	$16.7M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0354%	1h	92.793	+0.046%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.811	+0.065%	$3.2M	$6.4M	20x	as long as short