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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0180%/8h= +19.7% APRnext payment +$0.23 per $10,000 · paid last 24h +0.053%
Price spread now: SoDEX against Hotstuff−0.055%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on HotstuffShort on SoDEX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories
Funding pays, the price is against you. SoDEX is 0.055% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.055% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 25 hours of funding at the current rate (+$5 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHotstuff HYPE-PERP94.233−0.0080get 0.0010% / 1h46m 19s$3K$33125x
ShortSoDEX HYPE-USD94.1810.0100get 0.0013% / 1h46m 19s$2.0M$2.0M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

SoDEX against Hotstuff. 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
$37.8
Price spread: −0.055% → 0.000%
−$5.52
Slippage, 4 orders
no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Fee SoDEX: 4 bp × 2 orders
−$8
Net
$19.28
Costs to cover
0.130%
Break-even
3.4 days
Slippage unknown: Hotstuff: no order-book sample; SoDEX: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hotstuff no order-book sample—————
Sell SoDEX live order book, 3 min ago0.11 bp7.0 bp −$712.3 bp −$123doesn't fitdoesn't fit
Hotstuff: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.0600%1h94.163−0.075%$199K$230K7xas long as short
Aftermath Perps HYPEUSD−0.0448%1h94.078−0.164%$22K$22K10xas long as short
Arcus HYPE-USD−0.0233%1h94.140−0.099%$1.2M$3.8M10xas long as short
Hotstuff HYPE-PERPlong−0.0080%1h94.233long leg$3K$33125x
dYdX HYPE-USD0.0000%1h94.266+0.035%$128K$30K5xas long as short
Perpl HYPE0.0000%43m94.221−0.013%$23K$329K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h94.263+0.032%$27K—150xas long as short
Phoenix HYPE+0.0009%1h94.176−0.060%$216K$1.2M10xas long as short
Orderly PERP_HYPE_USDC+0.0013%4h94.231−0.002%$165K$552K20xas long as short
Bybit HYPEUSDT+0.0022%8h94.230−0.003%$324.9M$281.3M75xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0043%4h94.244+0.012%$9.0M$35.9M300xas long as short
Ondo Perps HYPE-USD.P+0.0049%1h94.130−0.109%$705K$909K10xas long as short
Phemex HYPEUSDT+0.0055%8h94.184−0.052%$12.8M$2.6M50xas long as short
01 Exchange HYPEUSD+0.0064%1h94.232−0.001%$87K$364K20xas long as short
Gate HYPE_USDT+0.0074%4h94.241+0.008%$44.3M$58.3M75xas long as short
MEXC HYPE_USDT+0.0078%4h94.240+0.007%$88.7M$81.0M100xas long as short
Binance HYPEUSDT+0.0079%4h94.247+0.015%$386.2M$889.5M75xas long as short
edgeX HYPEUSDC+0.0079%4h94.119−0.120%$5.1M$29.8M30xas long as short
Derive HYPE-PERP+0.0095%1h94.122−0.118%$16.5M$6.9M10xas long as short
Lighter HYPE+0.0096%1h94.264+0.032%$19.1M$59.3M20xas long as short
Lighter RH HYPE+0.0096%1h94.255+0.023%$3.1M$12.2M20xas long as short
Popdex HYPEUSDT+0.0096%1h94.225−0.008%$64K$1.2M50xas long as short
Paradex HYPE-USD-PERP+0.0099%8h94.227−0.006%$342K$171K20xas long as short
Katana Perps HYPE-USD+0.0100%8h94.240+0.007%$30K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h94.225−0.009%$5.8M$44.2M10xas long as short
Pacifica HYPE+0.0100%1h94.253+0.021%$10.2M$14.5M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h94.240+0.007%$116.1M$319.5M50xas long as short
Bulk HYPE-USD+0.0100%1h94.095−0.146%$205K$7K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h94.237+0.004%$47.3M$18.4M75xas long as short
Bitget HYPEUSDT+0.0100%4h94.248+0.016%$228.2M$102.7M75xas long as short
BingX HYPE-USDT+0.0100%4h94.234+0.001%—$54.0M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h94.208−0.027%$7.9M$10.4M20xas long as short
Variational Omni HYPE+0.0100%8h94.073−0.170%$32.2M$53.1M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h94.151−0.087%$7.6M$45.4M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h94.127−0.112%$336K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h94.199−0.036%$681K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h94.278+0.047%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h94.267+0.036%$486K$2.5M20xas long as short
Bullet HYPE-USD+0.0100%1h94.256+0.024%$113K$577K20xas long as short
Bluefin HYPE-PERP+0.0100%1h94.257+0.025%$76K$167K20xas long as short
SunX HYPE-USDT+0.0100%4h94.189−0.047%$32K$1.6M20xas long as short
SoDEX HYPE-USDshort+0.0100%1h94.181−0.055%$2.0M$2.0M10x
Injective HYPE/USDC PERP+0.0104%1h94.140−0.099%$31K$338K12xas long as short
Extended HYPE-USD+0.0104%1h94.199−0.037%$18.7M$42.0M50xas long as short
Aevo HYPE-PERP+0.0104%1h94.261+0.030%$401K$318K20xas long as short
Kalshi KXHYPEPERP+0.0126%8h94.250+0.018%$1.9M$5.0M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h94.210−0.024%$4.9M$5.7M50xas long as short
HTX HYPE-USDT+0.0231%4h94.338+0.111%$1.5M$7.7M75xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0238%1h94.264+0.033%$7.4M$4.5M50xas long as short
Reya HYPERUSDPERP+0.0248%1h94.237+0.004%$77K$142K15xas long as short
RISEx HYPE/USDC+0.0284%1h94.280+0.050%$2.8M$6.9M20xas long as short
BloFin HYPE-USDT+0.0315%4h94.189−0.047%$17.0M$12.4M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0340% / S −0.0165%1h94.260+0.029%$1.4M—100xas long as short
Kraken Futures PF_HYPEUSD+0.0576%1h94.284+0.054%$21.1M$29.1M50xas long as short
Hyperliquid HYPE+0.0657%1h94.332+0.105%$2.06B$667.9M10xas long as short