HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0238%/8h= −26.0% APRnext payment −$0.30 per $10,000 · paid last 24h −0.063%

Price spread now: Bulk against GMX−0.106%7-day average +0.021% · you buy dearer than you sell

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

Long on GMX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.178%−$18 on $10k

Price spread, last 3 days (all we have)+0.006%+$1 · spread now −0.106%, 7d avg +0.021%

Together, before fees−0.172%−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bulk is 0.128% cheaper against GMX than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.021%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX HYPE/USD [WBTC.b-USDC]	93.725	L +0.0338% / S −0.0163%	pay 0.0042% / 1h	21m 15s	$1.4M	—	100x
Short	Bulk HYPE-USD	93.625	0.0100	get 0.0013% / 1h	21m 15s	$204K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against GMX. 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 GMXbpFee BulkbpOrdersPrice spread, now −0.106%Rate

Funding earned: −$49.88
Price spread: −0.106% → +0.021%: −$12.78
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$81.66
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bulk: live order book, 58 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Bulk live order book, 58 min ago	0.54 bp	4.0 bp −$4	6.5 bp −$65	14.7 bp −$1,471	41.1 bp −$20.6K

GMX: 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
Hibachi HYPE/USDT-P	−0.0992%	1h	93.602	−0.131%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0396%	1h	93.644	−0.086%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.559	−0.177%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0089%	1h	93.680	−0.048%	$704K	$912K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.557	−0.179%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	93.671	−0.057%	$86K	$367K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0001%	4h	93.700	−0.026%	$168K	$586K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.737	+0.014%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.700	−0.027%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.727	+0.002%	$26K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0006%	4h	93.667	−0.062%	$8.9M	$36.0M	300x	as long as short
Phoenix HYPE	+0.0009%	1h	93.610	−0.122%	$214K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0017%	8h	93.690	−0.037%	$322.1M	$283.8M	75x	as long as short
Derive HYPE-PERP	+0.0030%	1h	93.653	−0.077%	$16.4M	$7.1M	10x	as long as short
MEXC HYPE_USDT	+0.0048%	4h	93.688	−0.039%	$87.9M	$81.9M	100x	as long as short
Binance HYPEUSDT	+0.0049%	4h	93.697	−0.029%	$382.6M	$896.5M	75x	as long as short
Phemex HYPEUSDT	+0.0067%	8h	93.708	−0.018%	$12.8M	$2.6M	50x	as long as short
edgeX HYPEUSDC	+0.0070%	4h	93.483	−0.258%	$5.1M	$29.7M	30x	as long as short
Gate HYPE_USDT	+0.0074%	4h	93.679	−0.049%	$44.0M	$59.7M	75x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	93.688	−0.039%	$59K	$1.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.741	+0.018%	$18.9M	$60.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.717	−0.008%	$3.0M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.710	−0.016%	$399K	$318K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0098%	8h	93.701	−0.025%	$115.5M	$321.3M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.683	−0.045%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.680	−0.048%	$15K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.645	−0.085%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.708	−0.017%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USDshort	+0.0100%	1h	93.625	−0.106%	$204K	$7K	10x
KuCoin HYPEUSDTM	+0.0100%	4h	93.703	−0.023%	$46.4M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.698	−0.028%	$227.0M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.688	−0.039%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.753	+0.030%	$7.9M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.672	−0.056%	$31.1M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.549	−0.188%	$7.5M	$45.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.489	−0.251%	$358K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.514	−0.225%	$676K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.717	−0.008%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.706	−0.020%	$491K	$2.4M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.698	−0.028%	$113K	$576K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.698	−0.028%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.748	+0.025%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.698	−0.028%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.731%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.680	−0.048%	$18.4M	$42.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0134%	8h	93.672	−0.056%	$1.9M	$5.0M	2.3x	as long as short
Hyperliquid HYPE	+0.0135%	1h	93.734	+0.010%	$2.04B	$677.3M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.790	+0.070%	$4.9M	$5.7M	50x	as long as short
BloFin HYPE-USDT	+0.0197%	4h	93.704	−0.022%	$17.0M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0204%	4h	93.848	+0.132%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.694	−0.033%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.716	−0.010%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]long	L +0.0338% / S −0.0163%	1h	93.725	long leg	$1.4M	—	100x
Deribit HYPE_USDC-PERPETUAL	+0.0433%	1h	93.798	+0.078%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0579%	1h	93.795	+0.075%	$20.9M	$29.5M	50x	as long as short