HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0233%/8h= −25.5% APRnext payment −$0.29 per $10,000 · paid last 24h −0.012%

Price spread now: Bluefin against Kraken Futures−0.133%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$510.512% of the position

Long on Kraken Futures Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.213%−$21 on $10k

Price spread, last 4 days (all we have)+0.103%+$10 · spread now −0.133%, 7d avg −0.045%

Together, before fees−0.110%−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bluefin is 0.087% cheaper against Kraken Futures than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.045%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_HYPEUSD	92.357	0.0333	pay 0.0042% / 1h	37m 05s	$20.5M	$30.5M	50x
Short	Bluefin HYPE-PERP	92.234	0.0100	get 0.0013% / 1h	37m 05s	$78K	$170K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin 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 BluefinbpOrdersPrice spread, now −0.133%Rate

Funding earned: −$48.98
Price spread: −0.133% → −0.045%: −$8.74
Slippage, 4 orders: −$34.19
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$108.91
Costs to cover: 0.512%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Bluefin: live order book, 22 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	2.17 bp	9.7 bp −$10	14.3 bp −$143	20.5 bp −$2,047	69.6 bp −$34.8K
Sell Bluefin live order book, 22 min ago	4.21 bp	14.9 bp −$15	doesn't fit	doesn't fit	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
Arcus HYPE-USD	−0.0948%	1h	92.270	−0.094%	$1.0M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0408%	1h	92.319	−0.041%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0149%	1h	92.322	−0.037%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0096%	1h	92.258	−0.107%	$86K	$356K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.288	−0.074%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0070%	4h	92.205	−0.164%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0046%	1h	92.235	−0.132%	$110K	$580K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0002%	1h	92.250	−0.115%	$695K	$1.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.311	−0.049%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.206	−0.163%	$22K	$309K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0001%	4h	92.276	−0.087%	$8.7M	$36.3M	300x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.253	−0.112%	$61K	—	150x	as long as short
BingX HYPE-USDT	+0.0034%	4h	92.263	−0.101%	—	$53.3M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.379	+0.024%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0056%	8h	92.260	−0.105%	$315.5M	$281.4M	75x	as long as short
Gate HYPE_USDT	+0.0062%	4h	92.274	−0.089%	$44.3M	$55.0M	75x	as long as short
Phemex HYPEUSDT	+0.0065%	8h	92.288	−0.074%	$12.5M	$2.7M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0079%	8h	92.267	−0.097%	$112.9M	$301.9M	50x	as long as short
MEXC HYPE_USDT	+0.0082%	4h	92.280	−0.083%	$87.0M	$80.5M	100x	as long as short
edgeX HYPEUSDC	+0.0082%	4h	92.333	−0.025%	$4.9M	$29.5M	30x	as long as short
Binance HYPEUSDT	+0.0084%	4h	92.266	−0.098%	$369.8M	$901.6M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0092%	8h	92.306	−0.055%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.303	−0.058%	$16.0M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.303	−0.058%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.253	−0.112%	$68K	$1.2M	50x	as long as short
Derive HYPE-PERP	+0.0097%	1h	92.202	−0.168%	$16.0M	$7.5M	10x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.260	−0.105%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.209	−0.160%	$6.8M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.322	−0.037%	$2.01B	$663.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.278	−0.085%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.245	−0.121%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.313	−0.047%	$45.8M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.261	−0.104%	$223.8M	$98.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.248	−0.118%	$7.3M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.258	−0.107%	$28.3M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.315	−0.046%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.378	+0.023%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.349	−0.008%	$662K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.266	−0.098%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.217	−0.151%	$474K	$2.6M	20x	as long as short
Bluefin HYPE-PERPshort	+0.0100%	1h	92.234	−0.133%	$78K	$170K	20x
SunX HYPE-USDT	+0.0100%	4h	92.255	−0.110%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.278	−0.085%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.434	+0.084%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.226	−0.141%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.253	−0.112%	$390K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.230	−0.137%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.320	−0.040%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0253%	8h	92.328	−0.031%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.204	−0.166%	$79K	$137K	15x	as long as short
BloFin HYPE-USDT	+0.0324%	4h	92.213	−0.155%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.241	−0.126%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSDlong	+0.0333%	1h	92.357	long leg	$20.5M	$30.5M	50x
Deribit HYPE_USDC-PERPETUAL	+0.0487%	1h	92.353	−0.004%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.303	−0.058%	$3.1M	$6.4M	20x	as long as short