HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0380%/8h= +41.6% APRnext payment +$0.47 per $10,000 · paid last 24h +0.253%

Price spread now: Bluefin against Hibachi+0.067%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs+$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$900.901% of the position

Long on Hibachi Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 7 days+1.560%+$156 on $10k

Price spread, last 4 days (all we have)−0.113%−$11 · spread now +0.067%, 7d avg +0.072%

Together, before fees+1.447%+ Points / potential airdropHibachi: Active · farm board+$145 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.072%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi HYPE/USDT-P	92.747	−0.0280	get 0.0035% / 1h	8m 35s	$194K	$227K	7x
Short	Bluefin HYPE-PERP	92.809	0.0100	get 0.0013% / 1h	8m 35s	$79K	$170K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Hibachi. 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 HibachibpFee BluefinbpOrdersPrice spread, now +0.067%Rate

Funding earned: $79.8
Price spread: +0.067% → +0.072%: −$0.47
Slippage, 4 orders: −$74.14
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$10.81
Costs to cover: 0.901%
Break-even: 7.9 days

Slippage from Hibachi: live order book, 50 min ago; Bluefin: live order book, 51 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 Hibachi live order book, 50 min ago	14.58 bp	25.8 bp −$26	45.4 bp −$454	doesn't fit	doesn't fit
Sell Bluefin live order book, 51 min ago	4.21 bp	14.9 bp −$15	doesn't fit	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
Arcus HYPE-USD	−0.0948%	1h	92.758	+0.012%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-Plong	−0.0280%	1h	92.747	long leg	$194K	$227K	7x
Aftermath Perps HYPEUSD	−0.0254%	1h	92.788	+0.044%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.830	+0.090%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.801	+0.059%	$157K	$660K	20x	as long as short
01 Exchange HYPEUSD	−0.0008%	1h	92.777	+0.033%	$86K	$361K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.856	+0.118%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.836	+0.097%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.856	+0.118%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0023%	8h	92.819	+0.078%	$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
Bullet HYPE-USD	+0.0032%	1h	92.818	+0.077%	$110K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	+0.0035%	1h	92.740	−0.007%	$697K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0036%	4h	92.799	+0.056%	—	$53.5M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.820	+0.079%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0044%	8h	92.794	+0.051%	$316.8M	$280.9M	75x	as long as short
Aster HYPEUSDT	+0.0058%	4h	92.828	+0.088%	$8.7M	$36.1M	300x	as long as short
OKX HYPE-USDT-SWAP	+0.0094%	8h	92.801	+0.059%	$113.8M	$303.7M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	92.833	+0.093%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.844	+0.104%	$16.1M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.849	+0.110%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.761	+0.015%	$69K	$1.1M	50x	as long as short
Bitget HYPEUSDT	+0.0096%	4h	92.818	+0.077%	$224.7M	$98.6M	75x	as long as short
Gate HYPE_USDT	+0.0098%	4h	92.813	+0.071%	$44.5M	$55.4M	75x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.740	−0.007%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.829	+0.089%	$7.0M	$45.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.875	+0.139%	$2.02B	$662.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.835	+0.095%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.822	+0.081%	$373.0M	$902.4M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.760	+0.014%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.810	+0.068%	$88.1M	$81.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.822	+0.081%	$46.1M	$18.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.824	+0.083%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.788	+0.044%	$28.7M	$57.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.819	+0.078%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.799	+0.056%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.816	+0.075%	$666K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.876	+0.140%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.848	+0.109%	$468K	$2.6M	20x	as long as short
Bluefin HYPE-PERPshort	+0.0100%	1h	92.809	+0.067%	$79K	$170K	20x
Derive HYPE-PERP	+0.0100%	1h	92.805	+0.063%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.871	+0.134%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.830	+0.090%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.960	+0.230%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.776	+0.031%	$18.1M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.823	+0.082%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0114%	4h	92.797	+0.054%	$4.9M	$29.5M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.273%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.890	+0.154%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0232%	8h	92.892	+0.157%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.826	+0.086%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.836	+0.096%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.912	+0.178%	$20.6M	$30.4M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.799	+0.056%	$16.7M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0364%	1h	92.923	+0.190%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.824	+0.083%	$3.2M	$6.4M	20x	as long as short