HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.1308%/8h= −143.2% APRnext payment −$1.63 per $10,000 · paid last 24h −0.319%

Price spread now: Hibachi against Hyperliquid−0.031%7-day average −0.116% · you buy dearer than you sell

Net, funding: paid 7d − costs−$251as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$670.666% of the position

Long on Hyperliquid Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−1.844%−$184 on $10k

Price spread, last 4 days (all we have)+0.352%+$35 · spread now −0.031%, 7d avg −0.116%

Together, before fees−1.492%+ Points / potential airdropHyperliquid: Season 2 · Hibachi: Active · farm board−$149 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hibachi is 0.085% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.031% now, against its 7-day average of −0.116%): +$8 on $10k if it goes back. Holding the pair costs −$39 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid HYPE	95.267	0.0100	pay 0.0013% / 1h	52m 56s	$2.11B	$645.7M	10x
Short	Hibachi HYPE/USDT-P	95.237	−0.1208	pay 0.0151% / 1h	52m 56s	$213K	$261K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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

Position, each leg$Hold fordaysFee HyperliquidbpFee HibachibpOrdersPrice spread, now −0.031%Rate

Funding earned: −$274.68
Price spread: −0.031% → −0.116%: $8.47
Slippage, 4 orders: −$48.6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$332.82
Costs to cover: 0.666%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Hibachi: live order book, 59 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 Hyperliquid live order book, 4 min ago	0.05 bp	4.6 bp −$5	6.6 bp −$66	doesn't fit	doesn't fit
Sell Hibachi live order book, 59 min ago	12.16 bp	24.3 bp −$24	49.2 bp −$492	doesn't fit	doesn't fit

HYPE on 54 exchanges

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-Pshort	−0.1208%	1h	95.237	−0.031%	$213K	$261K	7x
Phemex HYPEUSDT	−0.0277%	8h	95.208	−0.062%	$13.0M	$2.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0251%	1h	95.169	−0.103%	$18.5M	$35.2M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0160%	1h	95.160	−0.112%	$690K	$1.3M	10x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.153	−0.120%	$1.1M	$2.4M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0130%	1h	95.248	−0.020%	$22K	$17K	10x	as long as short
Bullet HYPE-USD	−0.0127%	1h	95.157	−0.115%	$114K	$581K	20x	as long as short
Lighter HYPE	−0.0104%	1h	95.151	−0.122%	$16.3M	$57.5M	20x	as long as short
01 Exchange HYPEUSD	−0.0096%	1h	95.145	−0.128%	$92K	$337K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.191	−0.080%	$3K	$331	25x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0076%	4h	95.153	−0.120%	$54.7M	$53.1M	75x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.190	−0.081%	$4.7M	$5.6M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0042%	4h	95.124	−0.150%	$148K	$643K	20x	as long as short
Aster HYPEUSDT	−0.0031%	4h	95.151	−0.122%	$9.0M	$32.9M	300x	as long as short
OKX HYPE-USDT-SWAP	−0.0012%	8h	95.134	−0.140%	$119.2M	$303.0M	50x	as long as short
Phoenix HYPE	−0.0008%	1h	95.326	+0.062%	$201K	$1.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	95.259	−0.008%	$129K	$94K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	95.142	−0.131%	$274K	$1.0M	50x	as long as short
Perpl HYPE	0.0000%	43m	95.139	−0.134%	$24K	$251K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.192	−0.079%	$100K	—	150x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0002%	1h	95.244	−0.024%	$7.5M	$4.3M	50x	as long as short
SoDEX HYPE-USD	+0.0010%	1h	95.152	−0.121%	$2.1M	$373K	10x	as long as short
Bitget HYPEUSDT	+0.0018%	4h	95.157	−0.115%	$228.7M	$86.9M	75x	as long as short
Bybit HYPEUSDT	+0.0028%	8h	95.160	−0.112%	$320.6M	$266.0M	75x	as long as short
Bulk HYPE-USD	+0.0074%	1h	95.269	+0.002%	$232K	$12K	10x	as long as short
Paradex HYPE-USD-PERP	+0.0075%	8h	95.170	−0.102%	$340K	$35K	20x	as long as short
Bluefin HYPE-PERP	+0.0081%	1h	95.164	−0.108%	$79K	$136K	20x	as long as short
Binance HYPEUSDT	+0.0092%	4h	95.141	−0.132%	$382.5M	$854.6M	75x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	95.253	−0.015%	$5.1M	$29.1M	30x	as long as short
MEXC HYPE_USDT	+0.0094%	4h	95.133	−0.141%	$90.2M	$83.1M	100x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.169	−0.103%	$3.3M	$10.0M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.120	−0.154%	$39K	$1.5M	10x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.222	−0.047%	—	$80K	5x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.154	−0.118%	$7.4M	$51.9M	10x	as long as short
Hyperliquid HYPElong	+0.0100%	1h	95.267	long leg	$2.11B	$645.7M	10x
Pacifica HYPE	+0.0100%	1h	95.191	−0.080%	$10.3M	$13.3M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.172	−0.100%	$48.1M	$17.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.175	−0.097%	—	$49.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.201	−0.069%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.251	−0.017%	$30.0M	$53.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.290	+0.024%	$7.7M	$39.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.279	+0.013%	$347K	$882K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.216	−0.054%	$693K	$2.8M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.182	−0.089%	$504K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.223	−0.046%	$32K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.292	+0.026%	$1.4M	$5.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.122	−0.152%	$18.4M	$39.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.138	−0.136%	$402K	$130K	20x	as long as short
Kalshi KXHYPEPERP	+0.0125%	8h	95.256	−0.012%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.182	−0.089%	$3.1M	$5.5M	20x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	95.118	−0.156%	$85K	$96K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.187	−0.084%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0336%	4h	95.165	−0.107%	$17.3M	$11.5M	75x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.500	+0.245%	$31K	$334K	12x	as long as short