Funding you earn now, next payment 23:00 UTC−0.0095%/8h= −10.4% APRnext payment −$0.12 per $10,000 · paid last 24h −0.042%
Price spread now: Phoenix against Injective−0.839%7-day average −0.093% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−2.016%−$202 on $10k
+Price spread, last 3 days (all we have)+1.036%+$104 · spread now −0.839%, 7d avg −0.093%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.746% cheaper against Injective than usual: you would sell low and buy high (−$75 if the spread goes back to its 7-day average of −0.093%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective HYPE/USDC PERP | 94.410 | 0.0104 | pay 0.0013% / 1h | 24m 22s | $31K | $338K | 12x |
| Short | Phoenix HYPE | 93.618 | 0.0009 | get 0.0001% / 1h | 24m 22s | $214K | $1.2M | 10x |
Injective HYPE/USDC PERP
Phoenix HYPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Injective. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$19.96
- Price spread: −0.839% → −0.093%
- −$74.57
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$101.55
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Injective: live order book, 55 min ago; Phoenix: live order book, 4 min ago. 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 Injective live order book, 55 min ago | 9.65 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 4 min ago | 1.07 bp | 5.6 bp −$6 | 9.0 bp −$90 | 117.9 bp −$11.8K | doesn't fit |
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 | −0.0928% | 1h | 93.480 | −0.985% | $198K | $229K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0383% | 1h | 93.607 | −0.851% | $22K | $22K | 10x | as long as short |
| Arcus HYPE-USD | −0.0233% | 1h | 93.434 | −1.034% | $1.2M | $3.8M | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.524 | −0.938% | $3K | $331 | 25x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0079% | 1h | 93.470 | −0.996% | $703K | $910K | 10x | as long as short |
| 01 Exchange HYPEUSD | −0.0056% | 1h | 93.497 | −0.967% | $86K | $366K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.492 | −0.972% | $127K | $30K | 5x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.528 | −0.934% | $23K | $329K | 10x | as long as short |
| Orderly PERP_HYPE_USDC | +0.0001% | 4h | 93.515 | −0.948% | $166K | $583K | 20x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0003% | 1h | 93.527 | −0.935% | $26K | — | 150x | as long as short |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Arcus HYPE-USD
Hotstuff HYPE-PERP
Ondo Perps HYPE-USD.P
01 Exchange HYPEUSD
dYdX HYPE-USD
Perpl HYPE
Orderly PERP_HYPE_USDC
gTrade (Gains Network) HYPE/USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Derive HYPE-PERP | +0.0003% | 1h | 93.446 | −1.021% | $16.3M | $7.1M | 10x | as long as short |
| Aster HYPEUSDT | +0.0006% | 4h | 93.503 | −0.961% | $8.9M | $36.0M | 300x | as long as short |
| Phoenix HYPEshort | +0.0009% | 1h | 93.618 | −0.839% | $214K | $1.2M | 10x | |
| Bybit HYPEUSDT | +0.0018% | 8h | 93.480 | −0.985% | $321.3M | $283.7M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0050% | 4h | 93.509 | −0.954% | $87.7M | $81.8M | 100x | as long as short |
| Binance HYPEUSDT | +0.0052% | 4h | 93.505 | −0.959% | $382.1M | $896.2M | 75x | as long as short |
| edgeX HYPEUSDC | +0.0064% | 4h | 93.635 | −0.820% | $5.1M | $29.7M | 30x | as long as short |
| Phemex HYPEUSDT | +0.0068% | 8h | 93.523 | −0.940% | $12.7M | $2.6M | 50x | as long as short |
| Gate HYPE_USDT | +0.0078% | 4h | 93.482 | −0.983% | $43.9M | $59.6M | 75x | as long as short |
| Popdex HYPEUSDT | +0.0088% | 1h | 93.509 | −0.954% | $59K | $1.2M | 50x | as long as short |
| Bullet HYPE-USD | +0.0091% | 1h | 93.483 | −0.982% | $113K | $576K | 20x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.570 | −0.889% | $18.8M | $60.1M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.524 | −0.938% | $3.0M | $12.3M | 20x | as long as short |
| Aevo HYPE-PERP | +0.0096% | 1h | 93.509 | −0.954% | $398K | $318K | 20x | as long as short |
| Paradex HYPE-USD-PERP | +0.0099% | 8h | 93.551 | −0.910% | $340K | $171K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0099% | 8h | 93.500 | −0.964% | $43K | $1.6M | 10x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.476 | −0.989% | $115.2M | $320.2M | 50x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.527 | −0.935% | $5.7M | $44.4M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.542 | −0.919% | $10.1M | $14.5M | 20x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.625 | −0.832% | $204K | $7K | 10x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.525 | −0.937% | $46.3M | $18.6M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.490 | −0.974% | $226.5M | $102.5M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.507 | −0.956% | — | $54.2M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.548 | −0.913% | $7.8M | $10.5M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.574 | −0.885% | $31.2M | $54.0M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.619 | −0.838% | $7.6M | $45.1M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.646 | −0.809% | $346K | $1.1M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.611 | −0.846% | $677K | $2.5M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.545 | −0.917% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.528 | −0.934% | $490K | $2.4M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.474 | −0.991% | $76K | $171K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.545 | −0.916% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.483 | −0.982% | $2.0M | $2.0M | 10x | as long as short |
| Injective HYPE/USDC PERPlong | +0.0104% | 1h | 94.410 | long leg | $31K | $338K | 12x | |
| Extended HYPE-USD | +0.0104% | 1h | 93.463 | −1.003% | $18.3M | $42.8M | 50x | as long as short |
| Kalshi KXHYPEPERP | +0.0132% | 8h | 93.556 | −0.905% | $1.9M | $5.0M | 2.3x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0152% | 1h | 93.560 | −0.900% | $4.9M | $5.6M | 50x | as long as short |
| Hyperliquid HYPE | +0.0179% | 1h | 93.546 | −0.915% | $2.03B | $676.9M | 10x | as long as short |
| BloFin HYPE-USDT | +0.0208% | 4h | 93.521 | −0.942% | $17.1M | $12.6M | 75x | as long as short |
| HTX HYPE-USDT | +0.0210% | 4h | 93.688 | −0.765% | $1.5M | $7.8M | 75x | as long as short |
| Reya HYPERUSDPERP | +0.0249% | 1h | 93.509 | −0.954% | $77K | $142K | 15x | as long as short |
| RISEx HYPE/USDC | +0.0284% | 1h | 93.558 | −0.902% | $2.8M | $6.9M | 20x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0337% / S −0.0163% | 1h | 93.520 | −0.943% | $1.4M | — | 100x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0359% | 1h | 93.585 | −0.874% | $7.4M | $4.6M | 50x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0580% | 1h | 93.584 | −0.875% | $20.9M | $29.5M | 50x | as long as short |
Derive HYPE-PERP
Aster HYPEUSDT
Bybit HYPEUSDT
MEXC HYPE_USDT
Binance HYPEUSDT
edgeX HYPEUSDC
Phemex HYPEUSDT
Gate HYPE_USDT
Popdex HYPEUSDT
Bullet HYPE-USD
Lighter HYPE
Lighter RH HYPE
Aevo HYPE-PERP
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
OKX HYPE-USDT-SWAP
Nado HYPE-PERP
Pacifica HYPE
Bulk HYPE-USD
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Extended HYPE-USD
Kalshi KXHYPEPERP
Coinbase International HYPE-PERP-INTX
Hyperliquid HYPE
BloFin HYPE-USDT
HTX HYPE-USDT
Reya HYPERUSDPERP
RISEx HYPE/USDC
GMX HYPE/USD [WBTC.b-USDC]
Deribit HYPE_USDC-PERPETUAL
Kraken Futures PF_HYPEUSD