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Funding arb · Price arb /

HYPE

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 12:00 UTC−0.0188%/8h= −20.6% APRpaid last 24h −0.017%
Price spread now: Gate against Extended+0.049%7-day average +0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$270.267% of the position
Long on ExtendedShort on Gate
What this pair did over the last
the charts below follow
Funding, last 7 days−0.097%−$10 on $10k
Price spread, last 7 days−0.040%−$4 · spread now +0.049%, 7d avg +0.016%
Together, before fees−0.137%+ Points / potential airdropExtended: Active · farm board−$14 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Gate is 0.033% dearer against Extended than usual: you sell high and buy low (spread +0.049% now, against its 7-day average of +0.016%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−0.097% in total) that is about 2.4 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.097% in total (about -5.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended HYPE-USD94.6640.0104pay 0.0013% / 1h49m 52s$18.2M$37.5M50x
ShortGate HYPE_USDT94.711−0.0084pay 0.0042% / 4h49m 52s$55.8M$52.6M75x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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
−$39.48
Price spread: +0.049% → +0.016%
$3.31
Slippage, 4 orders
−$6.73
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Gate: 7.5 bp × 2 orders
−$15
Net
−$62.9
Costs to cover
0.267%
Break-even
never at this rate
Slippage from Extended: live order book, 2 min ago; Gate: 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 Extended live order book, 2 min ago0.05 bp2.6 bp −$36.0 bp −$6027.1 bp −$2,708doesn't fit
Sell Gate live order book, 2 min ago0.79 bp11.1 bp −$1116.5 bp −$16529.6 bp −$2,95750.6 bp −$25.3K

HYPE on 55 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Kraken Futures PF_HYPEUSD−0.0282%1h94.758+0.099%$18.3M$32.6M50xas long as short
Phemex HYPEUSDT−0.0253%8h94.736+0.076%$12.9M$2.2M50xas long as short
Bluefin HYPE-PERP−0.0225%1h94.740+0.080%$78K$130K20xas long as short
Ondo Perps HYPE-USD.P−0.0221%1h94.670+0.006%$677K$1.3M10xas long as short
Lighter HYPE−0.0144%1h94.748+0.088%$16.5M$55.2M20xas long as short
01 Exchange HYPEUSD−0.0104%1h94.817+0.161%$102K$349K20xas long as short
Aster HYPEUSDT−0.0101%4h94.709+0.047%$9.0M$34.5M300xas long as short
Gate HYPE_USDTshort−0.0084%4h94.711+0.049%$55.8M$52.6M75x
Hotstuff HYPE-PERP−0.0080%1h94.894+0.243%$3K$42125xas long as short
Orderly PERP_HYPE_USDC−0.0074%4h94.736+0.076%$147K$642K20xas long as short
Show all 55 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International HYPE-PERP-INTX−0.0064%1h94.790+0.133%$4.7M$5.4M50xas long as short
Aftermath Perps HYPEUSD−0.0058%1h94.996+0.350%$22K$17K10xas long as short
OKX HYPE-USDT-SWAP−0.0042%8h94.539−0.132%$118.9M$302.5M50xas long as short
Bitget HYPEUSDT−0.0028%4h94.551−0.120%$228.9M$85.9M75xas long as short
Phoenix HYPE−0.0017%1h94.936+0.287%$198K$1.1M10xas long as short
ApeX Omni HYPEUSDT−0.0010%1h95.003+0.358%$323K$925K50xas long as short
dYdX HYPE-USD0.0000%1h94.770+0.112%$128K$96K5xas long as short
Perpl HYPE0.0000%43m94.808+0.151%$24K$249K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h94.890+0.238%$99K—150xas long as short
Bullet HYPE-USD+0.0008%1h94.864+0.211%$114K$585K20xas long as short
Derive HYPE-PERP+0.0020%1h94.742+0.083%$16.3M$7.0M10xas long as short
edgeX HYPEUSDC+0.0025%4h94.997+0.352%$5.0M$27.9M30xas long as short
Bybit HYPEUSDT+0.0027%8h94.547−0.124%$319.2M$262.9M75xas long as short
Binance HYPEUSDT+0.0029%4h94.722+0.061%$381.9M$848.9M75xas long as short
Popdex HYPEUSDT+0.0032%1h94.815+0.159%$274K$998K50xas long as short
MEXC HYPE_USDT+0.0032%4h94.718+0.057%$89.3M$82.4M100xas long as short
BingX HYPE-USDT+0.0034%4h94.702+0.040%—$49.7M—as long as short
Deribit HYPE_USDC-PERPETUAL+0.0045%1h94.858+0.205%$7.5M$4.2M50xas long as short
Backpack HYPE_USDC_PERP+0.0055%1h94.731+0.070%$6.8M$12.3M20xas long as short
SoDEX HYPE-USD+0.0063%1h94.799+0.142%$2.1M$335K10xas long as short
KuCoin HYPEUSDTM+0.0086%4h94.696+0.033%$47.3M$17.7M75xas long as short
Aevo HYPE-PERP+0.0088%1h94.905+0.254%$401K$125K20xas long as short
Paradex HYPE-USD-PERP+0.0092%8h94.733+0.072%$338K$30K20xas long as short
Lighter RH HYPE+0.0096%1h94.757+0.098%$3.3M$9.8M20xas long as short
Katana Perps HYPE-USD+0.0099%8h94.720+0.059%$39K$1.5M10xas long as short
Nado HYPE-PERP+0.0100%1h94.820+0.165%$7.2M$50.0M10xas long as short
Hyperliquid HYPE+0.0100%1h94.661−0.003%$2.10B$642.8M10xas long as short
Pacifica HYPE+0.0100%1h94.767+0.108%$10.2M$12.9M20xas long as short
Arcus HYPE-USD+0.0100%1h94.799+0.142%$1.0M$2.8M10xas long as short
Bulk HYPE-USD+0.0100%1h95.036+0.393%$228K$20K10xas long as short
Variational Omni HYPE+0.0100%8h94.740+0.080%$30.0M$52.4M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h95.002+0.357%$7.7M$41.1M10xas long as short
StandX HYPE-USD+0.0100%1h94.852+0.198%$690K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h94.875+0.222%—$80K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h94.848+0.194%$497K$2.4M20xas long as short
SunX HYPE-USDT+0.0100%4h94.928+0.279%$32K$1.4M20xas long as short
HTX HYPE-USDT+0.0100%4h94.853+0.199%$1.4M$5.3M75xas long as short
Extended HYPE-USDlong+0.0104%1h94.664long leg$18.2M$37.5M50x
Kalshi KXHYPEPERP+0.0118%8h94.826+0.171%$1.8M$5.1M2.3xas long as short
BloFin HYPE-USDT+0.0135%4h94.728+0.067%$17.5M$11.5M75xas long as short
RISEx HYPE/USDC+0.0138%1h94.816+0.160%$3.1M$5.2M20xas long as short
Reya HYPERUSDPERP+0.0268%1h94.796+0.139%$84K$90K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0330% / S −0.0155%1h94.889+0.238%$1.4M—100xas long as short
Hibachi HYPE/USDT-P+0.1000%1h94.840+0.185%$214K$277K7xas long as short
Injective HYPE/USDC PERP+0.1234%1h95.420+0.798%$31K$334K12xas long as short