HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1140%/8h= +124.8% APRnext payment +$1.43 per $10,000 · paid last 24h +0.262%

Price spread now: Bulk against Hibachi−0.731%50s7-day average +0.109% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$660.664% of the position

Long on Hibachi Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+1.202%+$120 on $10k

Price spread, last 4 days (all we have)+0.658%+$66 · spread now −0.731%, 7d avg +0.109%

Together, before fees+1.860%+ Points / potential airdropHibachi: Active · farm board+$186 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bulk is 0.840% cheaper against Hibachi than usual: you would sell low and buy high (spread −0.731% now, against its 7-day average of +0.109%). If the spread goes back, that is −$84 on $10k: about 2.5 days of funding at the current rate (+$34 a day). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi HYPE/USDT-P	94.126	−0.1040	get 0.0130% / 1h	23m 37s	$200K	$238K	7x
Short	Bulk HYPE-USD	93.438	0.0100	get 0.0013% / 1h	23m 37s	$216K	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −0.731%Rate

Funding earned: $239.4
Price spread: −0.731% → +0.109%: −$84.01
Slippage, 4 orders: −$50.42
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $88.97
Costs to cover: 0.664%
Break-even: 4.4 days

Slippage from Hibachi: live order book, 20 min ago; Bulk: live order book, 20 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, 20 min ago	18.66 bp	33.9 bp −$34	53.7 bp −$537	doesn't fit	doesn't fit
Sell Bulk live order book, 20 min ago	0.54 bp	4.0 bp −$4	4.7 bp −$47	9.0 bp −$901	21.5 bp −$10.8K

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-Plong	−0.1040%	1h	94.126	long leg	$200K	$238K	7x
Aftermath Perps HYPEUSD	−0.0212%	1h	93.815	−0.330%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.347	+0.235%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0068%	1h	94.220	+0.100%	$705K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0054%	1h	94.306	+0.191%	$112K	$579K	20x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	94.373	+0.262%	$86K	$368K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0016%	4h	94.335	+0.222%	$146K	$683K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.322	+0.208%	$129K	$26K	5x	as long as short
Bybit HYPEUSDT	0.0000%	8h	94.370	+0.259%	$318.7M	$288.6M	75x	as long as short
Perpl HYPE	0.0000%	43m	94.227	+0.107%	$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
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.048	−0.083%	$83K	—	150x	as long as short
Derive HYPE-PERP	+0.0007%	1h	93.302	−0.875%	$16.2M	$7.5M	10x	as long as short
Bluefin HYPE-PERP	+0.0015%	1h	94.375	+0.265%	$80K	$156K	20x	as long as short
Phoenix HYPE	+0.0017%	1h	93.715	−0.437%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0052%	4h	94.334	+0.221%	$227.3M	$99.6M	75x	as long as short
Phemex HYPEUSDT	+0.0056%	8h	94.284	+0.168%	$12.9M	$2.8M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0078%	8h	94.385	+0.276%	$337K	$161K	20x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.620	−0.538%	$5.0M	$30.5M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.328	+0.215%	$1.0M	$4.0M	10x	as long as short
Lighter HYPE	+0.0096%	1h	94.349	+0.237%	$16.3M	$64.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.361	+0.250%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.338	+0.225%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.330	+0.217%	$21K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.335	+0.223%	$7.5M	$50.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.454	+0.348%	$2.08B	$685.1M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.377	+0.267%	$8.9M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.380	+0.270%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.355	+0.243%	$377.6M	$932.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.364	+0.253%	$116.3M	$318.0M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.351	+0.239%	$49.0M	$56.2M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.344	+0.232%	$89.6M	$84.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.338	+0.225%	$46.7M	$18.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.341	+0.228%	—	$53.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.382	+0.272%	$7.3M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.009	−0.125%	$28.9M	$56.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.696	−0.457%	$7.6M	$48.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.663	−0.492%	$357K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.224	+0.104%	$682K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.430	+0.323%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.317	+0.203%	$473K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.359	+0.248%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.343	+0.231%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.450	+0.344%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USDshort	+0.0100%	1h	93.438	−0.731%	$216K	$15K	10x
Extended HYPE-USD	+0.0104%	1h	94.317	+0.203%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.366	+0.255%	$399K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0107%	8h	94.317	+0.203%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.340	+0.227%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.334	+0.220%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.100	−0.028%	$30K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0206%	1h	94.431	+0.324%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	93.879	−0.262%	$77K	$129K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.202	+0.081%	$17.0M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0412%	1h	94.423	+0.316%	$21.1M	$29.5M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.389	+0.280%	$3.2M	$6.3M	20x	as long as short