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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.044%
Price spread now: Bluefin against Hyperliquid−0.025%7-day average −0.054% · you buy dearer than you sell
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$380.383% of the position
Long on HyperliquidShort on Bluefin
What this pair did over the last
the charts below follow
Funding, last 7 days−0.174%−$17 on $10k
Price spread, last 3 days (all we have)−0.092%−$9 · spread now −0.025%, 7d avg −0.054%
Together, before fees−0.266%+ Points / potential airdropHyperliquid: Season 2 · farm board−$27 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bluefin is 0.029% dearer against Hyperliquid than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.054%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid HYPE93.2660.0100pay 0.0013% / 1h18m 44s$2.03B$669.2M10x
ShortBluefin HYPE-PERP93.2430.0100get 0.0013% / 1h18m 44s$76K$167K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bluefin against Hyperliquid. 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
$0
Price spread: −0.025% → −0.054%
$2.91
Slippage, 4 orders
−$22.3
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Fee Bluefin: 3.5 bp × 2 orders
−$7
Net
−$35.39
Costs to cover
0.383%
Break-even
never at this rate
Slippage from Hyperliquid: live order book, 5 min ago; Bluefin: live order book, just now.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hyperliquid live order book, 5 min ago0.05 bp4.6 bp −$54.7 bp −$47doesn't fitdoesn't fit
Sell Bluefin live order book, just now2.73 bp12.0 bp −$12doesn't fitdoesn't fitdoesn't fit

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
Aftermath Perps HYPEUSD−0.0431%1h93.140−0.135%$22K$22K10xas long as short
Hibachi HYPE/USDT-P−0.0336%1h93.216−0.054%$197K$230K7xas long as short
Arcus HYPE-USD−0.0131%1h93.190−0.081%$1.2M$4.0M10xas long as short
Ondo Perps HYPE-USD.P−0.0125%1h93.170−0.103%$699K$929K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.245−0.023%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0032%1h93.288+0.024%$90K$361K20xas long as short
Popdex HYPEUSDT−0.0008%1h93.257−0.010%$58K$1.2M50xas long as short
dYdX HYPE-USD0.0000%1h93.276+0.011%$127K$32K5xas long as short
Perpl HYPE0.0000%43m93.227−0.042%$23K$331K10xas long as short
Aster HYPEUSDT0.0000%4h93.241−0.027%$8.9M$35.9M300xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.2660.000%$20K—150xas long as short
Bybit HYPEUSDT+0.0021%8h93.240−0.028%$323.0M$286.9M75xas long as short
Orderly PERP_HYPE_USDC+0.0021%4h93.242−0.026%$172K$518K20xas long as short
Phoenix HYPE+0.0034%1h93.293+0.029%$214K$1.2M10xas long as short
Bullet HYPE-USD+0.0045%1h93.212−0.058%$112K$579K20xas long as short
Derive HYPE-PERP+0.0047%1h93.185−0.086%$16.3M$7.0M10xas long as short
Gate HYPE_USDT+0.0056%4h93.246−0.021%$43.9M$58.6M75xas long as short
Binance HYPEUSDT+0.0066%4h93.250−0.017%$381.9M$895.5M75xas long as short
MEXC HYPE_USDT+0.0066%4h93.249−0.018%$90.3M$82.2M100xas long as short
edgeX HYPEUSDC+0.0079%4h93.210−0.061%$5.1M$29.7M30xas long as short
Lighter HYPE+0.0096%1h93.303+0.040%$18.6M$59.0M20xas long as short
Lighter RH HYPE+0.0096%1h93.267+0.001%$3.1M$12.2M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.227−0.042%$397K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.2660.000%$339K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.230−0.039%$35K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.216−0.053%$5.9M$44.1M10xas long as short
Hyperliquid HYPElong+0.0100%1h93.266long leg$2.03B$669.2M10x
Pacifica HYPE+0.0100%1h93.277+0.012%$10.0M$14.4M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.241−0.027%$113.8M$314.4M50xas long as short
Bulk HYPE-USD+0.0100%1h93.232−0.036%$204K$8K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.269+0.003%$47.0M$18.8M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.260−0.006%$226.0M$103.0M75xas long as short
BingX HYPE-USDT+0.0100%4h93.241−0.027%—$53.8M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.248−0.019%$7.8M$11.0M20xas long as short
Variational Omni HYPE+0.0100%8h93.153−0.121%$29.0M$50.6M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.258−0.009%$7.5M$46.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.262−0.004%$415K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.227−0.042%$674K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.268+0.002%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.253−0.014%$493K$2.5M20xas long as short
Bluefin HYPE-PERPshort+0.0100%1h93.243−0.025%$76K$167K20x
SunX HYPE-USDT+0.0100%4h93.210−0.060%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.217−0.053%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.216−0.054%$12.7M$2.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.231−0.037%$18.2M$41.9M50xas long as short
Kalshi KXHYPEPERP+0.0113%8h93.238−0.030%$1.9M$5.3M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.220−0.049%$4.9M$5.7M50xas long as short
HTX HYPE-USDT+0.0239%4h93.400+0.144%$1.5M$7.7M75xas long as short
Injective HYPE/USDC PERP+0.0239%1h93.120−0.157%$30K$338K12xas long as short
Reya HYPERUSDPERP+0.0247%1h93.241−0.027%$77K$159K15xas long as short
BloFin HYPE-USDT+0.0268%4h93.242−0.026%$16.8M$12.5M75xas long as short
RISEx HYPE/USDC+0.0280%1h93.290+0.026%$2.7M$6.8M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0165%1h93.259−0.007%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0383%1h93.322+0.060%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSD+0.0465%1h93.331+0.070%$20.9M$29.0M50xas long as short