HYPE

Alert

Funding spread now, next payment 16:00 UTC−0.0515%/8h

next payment, per $10,000−$0.64paid, last 24h+0.007%paid, last 7 days−0.099%to open and close $10k−$21

Long on Kraken Futures Short on Lighter RH

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.099% in total (about -5.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.64 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_HYPEUSD	93.292	0.0611	pay 0.0076% / 1h	32m 10s	$16.5M	$21.3M	50x
Short	Lighter RH HYPE	93.289	0.0096	get 0.0012% / 1h	32m 10s	$3.2M	$11.8M	20x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee Lighter RHbpOrdersRate

Funding earned: −$108.15
Slippage, 4 orders: −$11.35
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$129.5
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Lighter RH: live order book, 3 min ago.

Price risk

price view

Price gap now: −0.003%
Avg gap 7d: −0.016%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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, 3 min ago	1.87 bp	10.5 bp −$11	13.9 bp −$139	19.6 bp −$1,960	63.0 bp −$31.5K
Sell Lighter RH live order book, 3 min ago	1.39 bp	1.5 bp −$1	3.0 bp −$30	20.8 bp −$2,084	doesn't fit

HYPE on 54 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-P	−0.0464%	1h	$208K	$197K	7x	as long as short
Orderly PERP_HYPE_USDC	−0.0148%	4h	$169K	$375K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	$3K	$307	25x	as long as short
BingX HYPE-USDT	−0.0022%	4h	—	$51.4M	—	as long as short
OKX HYPE-USDT-SWAP	−0.0016%	8h	$115.9M	$311.2M	50x	as long as short
Bybit HYPEUSDT	−0.0008%	8h	$325.5M	$284.0M	75x	as long as short
Perpl HYPE	0.0000%	43m	$31K	$344K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	$33K	—	150x	as long as short
dYdX HYPE-USD	+0.0048%	1h	$127K	$26K	5x	as long as short
Gate HYPE_USDT	+0.0066%	4h	$44.2M	$54.7M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Lighter HYPE	+0.0096%	1h	$18.6M	$57.0M	20x	as long as short
Lighter RH HYPEshort	+0.0096%	1h	$3.2M	$11.8M	20x
Popdex HYPEUSDT	+0.0096%	1h	$157K	$1.1M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0096%	1h	$4.9M	$5.3M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	$9K	$1.7M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	$336K	$288K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	$5.6M	$42.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	$2.02B	$599.1M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	$8.5M	$34.6M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	$11.4M	$12.1M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	$394.6M	$818.0M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	$702K	$973K	10x	as long as short
Arcus HYPE-USD	+0.0100%	1h	$1.2M	$4.2M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	$212K	$10K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	$94.5M	$85.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	$43.9M	$20.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	$229.7M	$96.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	$8.3M	$9.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	$30.1M	$51.5M	—	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	$427K	$958K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	$707K	$2.1M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	—	$407K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	$462K	$2.4M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	$111K	$580K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	$72K	$197K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	$16.5M	$7.1M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	$2.0M	$1.9M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	$12.6M	$2.3M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	$18.2M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	$396K	$340K	20x	as long as short
edgeX HYPEUSDC	+0.0106%	4h	$5.2M	$27.1M	30x	as long as short
01 Exchange HYPEUSD	+0.0112%	1h	$84K	$313K	20x	as long as short
Kalshi KXHYPEPERP	+0.0148%	8h	$1.6M	$4.5M	2.3x	as long as short
Aftermath Perps HYPEUSD	+0.0170%	1h	$22K	$34K	10x	as long as short
Reya HYPERUSDPERP	+0.0222%	1h	$73K	$168K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0318%	1h	$7.3M	$4.6M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	$17.9M	$12.3M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0344% / S −0.0161%	1h	$1.5M	—	100x	as long as short
Phoenix HYPE	+0.0357%	1h	$297K	$1.1M	10x	as long as short
HTX HYPE-USDT	+0.0388%	4h	$1.5M	$6.7M	75x	as long as short
RISEx HYPE/USDC	+0.0500%	1h	$2.5M	$7.3M	20x	as long as short
Kraken Futures PF_HYPEUSDlong	+0.0611%	1h	$16.5M	$21.3M	50x
Injective HYPE/USDC PERP	+0.1001%	1h	$24K	$320K	12x	as long as short