HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0327%/8h= −35.8% APRnext payment −$0.41 per $10,000 · paid last 24h −0.131%

Price spread now: Arcus against Kraken Futures−0.107%7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$250.251% of the position

Long on Kraken Futures Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.191%−$19 on $10k

Price spread, last 4 days (all we have)+0.079%+$8 · spread now −0.107%, 7d avg −0.079%

Together, before fees−0.111%−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Arcus is 0.028% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.079%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_HYPEUSD	94.299	0.0338	pay 0.0042% / 1h	1m 42s	$21.0M	$29.6M	50x
Short	Arcus HYPE-USD	94.198	0.0011	get 0.0001% / 1h	1m 42s	$1.0M	$4.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Kraken Futures. 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 Kraken FuturesbpFee ArcusbpOrdersPrice spread, now −0.107%Rate

Funding earned: −$68.71
Price spread: −0.107% → −0.079%: −$2.85
Slippage, 4 orders: −$10.65
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$96.7
Costs to cover: 0.251%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Arcus: live order book, 2 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 Kraken Futures live order book, 2 min ago	1.17 bp	12.1 bp −$12	16.8 bp −$168	22.8 bp −$2,282	74.0 bp −$37.0K
Sell Arcus live order book, 2 min ago	0.53 bp	3.2 bp −$3	7.3 bp −$73	25.6 bp −$2,558	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	−0.1280%	1h	94.260	−0.041%	$202K	$241K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0298%	1h	94.289	−0.011%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.328	+0.031%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0015%	4h	94.168	−0.139%	$150K	$681K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.272	−0.029%	$129K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	94.236	−0.067%	$87K	$372K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.214	−0.090%	$22K	$290K	10x	as long as short
Bullet HYPE-USD	+0.0001%	1h	94.207	−0.097%	$112K	$580K	20x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	94.223	−0.081%	$63K	—	150x	as long as short
Arcus HYPE-USDshort	+0.0011%	1h	94.198	−0.107%	$1.0M	$4.0M	10x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0019%	8h	94.170	−0.137%	$318.2M	$287.0M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	94.438	+0.147%	$211K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0031%	4h	94.194	−0.111%	—	$53.7M	—	as long as short
Bitget HYPEUSDT	+0.0038%	4h	94.191	−0.115%	$227.2M	$99.4M	75x	as long as short
Phemex HYPEUSDT	+0.0038%	8h	94.206	−0.099%	$12.8M	$2.8M	50x	as long as short
Ondo Perps HYPE-USD.P	+0.0059%	1h	94.220	−0.084%	$711K	$1.2M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	94.211	−0.093%	$342K	$158K	20x	as long as short
Lighter HYPE	+0.0096%	1h	94.191	−0.115%	$16.4M	$63.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.203	−0.102%	$3.2M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.218	−0.086%	$78K	$1.2M	50x	as long as short
edgeX HYPEUSDC	+0.0098%	4h	94.343	+0.047%	$5.0M	$30.4M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.230	−0.073%	$30K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.191	−0.114%	$6.7M	$49.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.311	+0.013%	$2.07B	$680.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.191	−0.115%	$8.9M	$37.0M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.215	−0.089%	$10.2M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.182	−0.124%	$378.5M	$925.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.161	−0.146%	$116.4M	$317.5M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.213	−0.091%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.192	−0.113%	$48.2M	$55.9M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.183	−0.123%	$91.0M	$82.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.192	−0.113%	$46.5M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.247	−0.055%	$7.2M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.388	+0.095%	$28.9M	$56.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.427	+0.135%	$7.7M	$48.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.313	+0.015%	$344K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.316	+0.018%	$675K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.291	−0.009%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.228	−0.075%	$478K	$2.8M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.188	−0.118%	$80K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	94.190	−0.116%	$16.3M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.302	+0.003%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.206	−0.099%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.416	+0.124%	$1.4M	$6.6M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.166	−0.141%	$18.2M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.212	−0.093%	$398K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0119%	8h	94.327	+0.030%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	94.610	+0.330%	$31K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.230	−0.073%	$4.7M	$6.1M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0270%	1h	94.291	−0.008%	$7.5M	$4.1M	50x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	94.198	−0.108%	$77K	$130K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	94.228	−0.075%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSDlong	+0.0338%	1h	94.299	long leg	$21.0M	$29.6M	50x
BloFin HYPE-USDT	+0.0340%	4h	94.285	−0.015%	$16.8M	$12.3M	75x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	94.269	−0.031%	$3.2M	$6.3M	20x	as long as short