HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0992%/8h= −108.6% APRnext payment −$1.24 per $10,000 · paid last 24h −0.233%

Price spread now: Hibachi against dYdX−0.409%7-day average −0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$268as in the Funding arb table

Net, price: spread back to 7d avg − costs−$145as in the Price arb table

costs, in and out, $10k−$1111.107% of the position

Long on dYdX Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−1.578%−$158 on $10k

Price spread, last 4 days (all we have)+0.480%+$48 · spread now −0.409%, 7d avg −0.068%

Together, before fees−1.098%+ Points / potential airdropHibachi: Active · farm board−$110 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$30 a day on $10k at the current rate, and Hibachi is 0.341% cheaper against dYdX than usual: you would sell low and buy high (−$34 if the spread goes back to its 7-day average of −0.068%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX HYPE-USD	93.880	0	get 0.0000% / 1h	26m 01s	$129K	$26K	5x
Short	Hibachi HYPE/USDT-P	93.495	−0.0992	pay 0.0124% / 1h	26m 01s	$198K	$238K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against dYdX. 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 dYdXbpFee HibachibpOrdersPrice spread, now −0.409%Rate

Funding earned: −$208.32
Price spread: −0.409% → −0.068%: −$34.14
Slippage, 4 orders: −$91.7
Fee dYdX: 5 bp × 2 orders: −$10
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$353.17
Costs to cover: 1.107%
Break-even: never at this rate

Slippage from dYdX: live order book, 18 min ago; Hibachi: live order book, 18 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 dYdX live order book, 18 min ago	21.17 bp	26.2 bp −$26	28.3 bp −$283	94.6 bp −$9,460	267.6 bp −$133.8K
Sell Hibachi live order book, 18 min ago	18.66 bp	24.5 bp −$24	43.9 bp −$439	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-Pshort	−0.0992%	1h	93.495	−0.409%	$198K	$238K	7x
Aftermath Perps HYPEUSD	−0.0191%	1h	93.590	−0.308%	$22K	$21K	10x	as long as short
BingX HYPE-USDT	−0.0100%	4h	94.240	+0.384%	—	$53.5M	—	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.665	−0.229%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0066%	1h	93.879	−0.001%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0062%	1h	93.650	−0.245%	$705K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.899	+0.021%	$86K	$368K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0017%	4h	94.032	+0.162%	$146K	$683K	20x	as long as short
dYdX HYPE-USDlong	0.0000%	1h	93.880	long leg	$129K	$26K	5x
Perpl HYPE	0.0000%	43m	93.907	+0.030%	$20K	$290K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0002%	8h	94.277	+0.423%	$318.5M	$288.2M	75x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.048	+0.180%	$83K	—	150x	as long as short
Bluefin HYPE-PERP	+0.0006%	1h	94.072	+0.205%	$79K	$155K	20x	as long as short
Derive HYPE-PERP	+0.0007%	1h	93.302	−0.615%	$16.2M	$7.5M	10x	as long as short
Phoenix HYPE	+0.0017%	1h	93.623	−0.273%	$208K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0050%	4h	94.229	+0.372%	$227.1M	$99.6M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0078%	8h	93.823	−0.061%	$335K	$161K	20x	as long as short
Phemex HYPEUSDT	+0.0081%	8h	94.187	+0.328%	$12.9M	$2.8M	50x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.785	−0.101%	$1.0M	$4.0M	10x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	93.551	−0.350%	$5.0M	$30.5M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.222	+0.365%	$16.2M	$64.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.210	+0.352%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.865	−0.015%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.770	−0.117%	$21K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.855	−0.026%	$7.5M	$50.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.395	+0.549%	$2.07B	$689.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.168	+0.308%	$8.9M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.773	−0.114%	$10.1M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.292	+0.439%	$377.3M	$930.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.263	+0.408%	$116.3M	$317.4M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.290	+0.437%	$49.0M	$55.8M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.311	+0.460%	$89.9M	$84.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.119	+0.255%	$46.6M	$18.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.311	+0.460%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.449	−0.459%	$28.7M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.492	−0.412%	$7.5M	$48.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.566	−0.334%	$354K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.643	−0.252%	$678K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.879	−0.001%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.895	+0.016%	$471K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.925	+0.048%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.141	+0.279%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.352	+0.503%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.438	−0.470%	$216K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.136	+0.273%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.104	+0.239%	$398K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0105%	8h	94.131	+0.268%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.190	+0.331%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	93.681	−0.211%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.540	−0.362%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	93.879	−0.001%	$77K	$129K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.642	−0.253%	$16.9M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0413%	1h	94.262	+0.408%	$21.0M	$29.5M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0462%	1h	94.187	+0.328%	$7.5M	$4.2M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.935	+0.059%	$3.2M	$6.3M	20x	as long as short