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Funding arb · Price arb /

HYPE

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 01:00 UTC+0.0610%/8h= +66.8% APRpaid last 24h +0.012%
Price spread now: Kraken Futures against edgeX+0.044%76s7-day average +0.043% · you sell dearer than you buy
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$270.269% of the position
Long on edgeXShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.066%+$7 on $10k
Price spread, last 3 days (all we have)+0.040%+$4 · spread now +0.044%, 7d avg +0.043%
Together, before fees+0.106%+ Points / potential airdropedgeX: Active · farm board+$11 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.043%, so right now this pair is about funding alone: +$18 a day on $10k at the current rate. The two prices were read 76 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.066% in total (about 3.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongedgeX HYPEUSDC93.9180.0062pay 0.0031% / 4h3h 52m$5.1M$29.7M30x
ShortKraken Futures PF_HYPEUSD93.9590.0672get 0.0084% / 1h52m 11s$21.0M$29.7M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against edgeX. 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

Funding earned
$128.2
Price spread: +0.044% → +0.043%
$0.12
Slippage, 4 orders
−$7.87
Fee edgeX: 4.5 bp × 2 orders
−$9
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$101.45
Costs to cover
0.269%
Break-even
1.5 days
Slippage from edgeX: live order book, 2 min ago; Kraken Futures: live order book, 2 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 edgeX live order book, 2 min ago0.32 bp4.8 bp −$55.0 bp −$50151.0 bp −$15.1Kdoesn't fit
Sell Kraken Futures live order book, 2 min ago1.12 bp7.2 bp −$78.9 bp −$8915.1 bp −$1,51152.5 bp −$26.3K

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
Hibachi HYPE/USDT-P−0.1392%1h93.944+0.028%$199K$228K7xas long as short
Arcus HYPE-USD−0.0625%1h93.914−0.004%$1.2M$3.8M10xas long as short
Aftermath Perps HYPEUSD−0.0304%1h93.960+0.045%$22K$22K10xas long as short
Phemex HYPEUSDT−0.0269%8h93.865−0.056%$12.8M$2.6M50xas long as short
ApeX Omni HYPEUSDT−0.0224%1h93.928+0.011%$340K$1.1M50xas long as short
Ondo Perps HYPE-USD.P−0.0168%1h93.900−0.019%$705K$927K10xas long as short
Gate HYPE_USDT−0.0122%4h93.887−0.033%$44.4M$59.1M75xas long as short
Bullet HYPE-USD−0.0111%1h94.037+0.127%$113K$580K20xas long as short
01 Exchange HYPEUSD−0.0104%1h94.051+0.142%$86K$364K20xas long as short
dYdX HYPE-USD−0.0102%1h94.007+0.095%$128K$29K5xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hotstuff HYPE-PERP−0.0080%1h93.996+0.083%$3K$33125xas long as short
Bybit HYPEUSDT−0.0073%8h93.890−0.030%$322.9M$283.5M75xas long as short
Orderly PERP_HYPE_USDC−0.0009%4h93.972+0.058%$169K$594K20xas long as short
Derive HYPE-PERP−0.0007%1h93.917−0.001%$16.4M$7.2M10xas long as short
Perpl HYPE0.0000%43m94.023+0.112%$23K$329K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h94.068+0.160%$27K—150xas long as short
Aster HYPEUSDT+0.0019%4h93.974+0.060%$8.9M$36.1M300xas long as short
Phoenix HYPE+0.0034%1h93.829−0.095%$218K$1.2M10xas long as short
MEXC HYPE_USDT+0.0038%4h93.898−0.021%$88.1M$81.9M100xas long as short
Binance HYPEUSDT+0.0046%4h93.927+0.010%$383.5M$897.0M75xas long as short
edgeX HYPEUSDClong+0.0062%4h93.918long leg$5.1M$29.7M30x
Popdex HYPEUSDT+0.0064%1h94.044+0.134%$60K$1.2M50xas long as short
OKX HYPE-USDT-SWAP+0.0083%8h93.899−0.020%$115.8M$321.2M50xas long as short
Aevo HYPE-PERP+0.0088%1h94.008+0.096%$400K$191K20xas long as short
Lighter HYPE+0.0096%1h93.952+0.036%$18.9M$58.2M20xas long as short
Lighter RH HYPE+0.0096%1h93.9180.000%$3.0M$12.0M20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h94.044+0.134%$342K$171K20xas long as short
Katana Perps HYPE-USD+0.0100%8h94.040+0.130%$39K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h94.026+0.116%$6.6M$44.9M10xas long as short
Hyperliquid HYPE+0.0100%1h94.007+0.095%$2.05B$675.5M10xas long as short
Pacifica HYPE+0.0100%1h94.028+0.117%$10.1M$14.6M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.979+0.065%$46.5M$18.4M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.908−0.011%$227.4M$101.7M75xas long as short
BingX HYPE-USDT+0.0100%4h93.889−0.031%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.929+0.012%$7.7M$10.5M20xas long as short
Variational Omni HYPE+0.0100%8h93.832−0.091%$31.2M$54.3M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.944+0.027%$7.6M$45.4M10xas long as short
StandX HYPE-USD+0.0100%1h93.978+0.064%$680K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h94.056+0.147%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h94.078+0.170%$481K$2.6M20xas long as short
Bluefin HYPE-PERP+0.0100%1h94.010+0.098%$76K$171K20xas long as short
SunX HYPE-USDT+0.0100%4h93.962+0.047%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.877−0.044%$2.0M$2.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.944+0.027%$205K$6K10xas long as short
Extended HYPE-USD+0.0104%1h93.865−0.057%$18.4M$42.5M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0144%1h94.010+0.098%$4.9M$5.5M50xas long as short
BloFin HYPE-USDT+0.0156%4h93.963+0.048%$17.0M$12.4M75xas long as short
Kalshi KXHYPEPERP+0.0164%8h94.024+0.113%$1.9M$5.1M2.3xas long as short
Injective HYPE/USDC PERP+0.0205%1h94.150+0.247%$31K$338K12xas long as short
RISEx HYPE/USDC+0.0222%1h94.087+0.180%$2.8M$6.8M20xas long as short
Reya HYPERUSDPERP+0.0250%1h94.016+0.105%$77K$145K15xas long as short
HTX HYPE-USDT+0.0308%4h94.100+0.194%$1.5M$7.4M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0338% / S −0.0157%1h94.069+0.161%$1.5M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0506%1h93.997+0.084%$7.5M$4.7M50xas long as short
Kraken Futures PF_HYPEUSDshort+0.0672%1h93.959+0.044%$21.0M$29.7M50x