HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0198%/8h= −21.6% APRnext payment −$0.25 per $10,000 · paid last 24h −0.079%

Price spread now: Ondo Perps against Hyperliquid−0.094%52s7-day average −0.013% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.196%−$20 on $10k

Price spread, last 7 days−0.306%−$31 · spread now −0.094%, 7d avg −0.013%

Together, before fees−0.502%+ Points / potential airdropHyperliquid: Season 2 · Ondo Perps: Active · farm board−$50 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Ondo Perps is 0.081% cheaper against Hyperliquid than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.013%). Swap the legs. The two prices were read 52 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	Hyperliquid HYPE	93.898	0.0100	pay 0.0013% / 1h	5m 53s	$2.05B	$668.7M	10x
Short	Ondo Perps HYPE-USD.P	93.810	−0.0098	pay 0.0012% / 1h	5m 53s	$710K	$958K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$41.5
Price spread: −0.094% → −0.013%: −$8.11
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$63.6
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 8 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 8 min ago	0.05 bp	4.8 bp −$5	6.8 bp −$68	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-P	−0.1128%	1h	93.815	−0.089%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.685	−0.227%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0193%	1h	93.943	+0.048%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.Pshort	−0.0098%	1h	93.810	−0.094%	$710K	$958K	10x
dYdX HYPE-USD	−0.0084%	1h	93.911	+0.014%	$129K	$31K	5x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.787	−0.118%	$85K	$359K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.856	−0.045%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0050%	1h	93.799	−0.105%	$113K	$580K	20x	as long as short
Phemex HYPEUSDT	−0.0038%	8h	93.823	−0.080%	$12.8M	$2.6M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0034%	4h	93.769	−0.137%	$159K	$643K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0014%	4h	93.827	−0.076%	$44.4M	$60.4M	75x	as long as short
Perpl HYPE	0.0000%	43m	93.836	−0.066%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.818	−0.086%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0007%	4h	93.816	−0.087%	$8.9M	$36.0M	300x	as long as short
Derive HYPE-PERP	+0.0010%	1h	93.747	−0.160%	$16.4M	$7.6M	10x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.820	−0.083%	$322.8M	$278.8M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	94.045	+0.157%	$214K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0054%	4h	93.841	−0.061%	$88.3M	$83.4M	100x	as long as short
Binance HYPEUSDT	+0.0054%	4h	93.837	−0.065%	$383.2M	$893.4M	75x	as long as short
edgeX HYPEUSDC	+0.0055%	4h	94.001	+0.110%	$5.1M	$29.7M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0071%	8h	93.835	−0.067%	$116.0M	$314.5M	50x	as long as short
Bluefin HYPE-PERP	+0.0082%	1h	93.751	−0.157%	$76K	$170K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.868	−0.032%	$18.9M	$60.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.840	−0.062%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.802	−0.102%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.777	−0.129%	$399K	$180K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.847	−0.054%	$341K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.780	−0.126%	$31K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.841	−0.060%	$6.6M	$44.6M	10x	as long as short
Hyperliquid HYPElong	+0.0100%	1h	93.898	long leg	$2.05B	$668.7M	10x
Pacifica HYPE	+0.0100%	1h	93.847	−0.054%	$10.1M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.859	−0.042%	$46.6M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.859	−0.042%	$227.2M	$100.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.845	−0.056%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.792	−0.113%	$7.9M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.768	−0.139%	$31.3M	$53.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.999	+0.108%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.020	+0.130%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.866	−0.034%	$670K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.850	−0.051%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.820	−0.083%	$474K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.839	−0.063%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.833	−0.069%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.894	−0.004%	$204K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.819	−0.084%	$18.4M	$45.1M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.870	−0.030%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.810	−0.094%	$31K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0218%	4h	93.919	+0.022%	$17.1M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.820	−0.083%	$2.7M	$6.7M	20x	as long as short
Kalshi KXHYPEPERP	+0.0244%	8h	93.896	−0.002%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0252%	1h	93.781	−0.124%	$79K	$143K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0335% / S −0.0159%	1h	93.815	−0.088%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0367%	4h	94.004	+0.113%	$1.5M	$5.9M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0400%	1h	93.907	+0.010%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0672%	1h	93.901	+0.003%	$20.9M	$29.7M	50x	as long as short