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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 01:00 UTC+0.0260%/8h= +28.5% APRnext payment +$0.33 per $10,000 · paid last 24h +0.027%
Price spread now: Bulk against Ondo Perps+0.138%7-day average +0.112% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Ondo PerpsShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.086%+$9 on $10k
Price spread, last 4 days (all we have)−0.160%−$16 · spread now +0.138%, 7d avg +0.112%
Together, before fees−0.074%+ Points / potential airdropOndo Perps: Active · farm board−$7 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Bulk is 0.026% dearer against Ondo Perps than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.112%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.086% in total (about 9.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.33 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOndo Perps HYPE-USD.P93.990−0.0160get 0.0020% / 1h29m 57s$706K$956K10x
ShortBulk HYPE-USD94.1200.0100get 0.0013% / 1h29m 57s$205K$4K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against Ondo Perps. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$54.6
Price spread: +0.138% → +0.112%
$2.6
Slippage, 4 orders
no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders
−$5
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
$45.2
Costs to cover
0.120%
Break-even
1.2 days
Slippage unknown: Ondo Perps: no order-book sample; Bulk: live order book, 44 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Ondo Perps no order-book sample—————
Sell Bulk live order book, 44 min ago0.53 bp6.0 bp −$67.6 bp −$7613.2 bp −$1,32437.8 bp −$18.9K
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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1432%1h94.067+0.082%$199K$228K7xas long as short
Arcus HYPE-USD−0.0625%1h93.928−0.066%$1.2M$3.8M10xas long as short
Aftermath Perps HYPEUSD−0.0234%1h94.151+0.171%$22K$23K10xas long as short
Ondo Perps HYPE-USD.Plong−0.0160%1h93.990long leg$706K$956K10x
dYdX HYPE-USD−0.0153%1h94.048+0.062%$129K$31K5xas long as short
Phemex HYPEUSDT−0.0104%8h94.018+0.030%$12.8M$2.6M50xas long as short
Bullet HYPE-USD−0.0098%1h93.961−0.031%$112K$580K20xas long as short
01 Exchange HYPEUSD−0.0080%1h93.970−0.021%$85K$361K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h94.037+0.050%$3K$33125xas long as short
Bybit HYPEUSDT−0.0025%8h93.9900.000%$322.8M$280.7M75xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Orderly PERP_HYPE_USDC−0.0017%4h93.950−0.043%$159K$645K20xas long as short
Perpl HYPE0.0000%43m94.035+0.048%$23K$327K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h94.001+0.012%$27K—150xas long as short
Gate HYPE_USDT+0.0006%4h93.999+0.010%$44.5M$59.7M75xas long as short
Aster HYPEUSDT+0.0019%4h93.982−0.009%$8.9M$36.1M300xas long as short
Phoenix HYPE+0.0034%1h94.342+0.375%$219K$1.2M10xas long as short
MEXC HYPE_USDT+0.0048%4h93.992+0.002%$89.1M$82.6M100xas long as short
Binance HYPEUSDT+0.0048%4h93.989−0.001%$383.4M$893.4M75xas long as short
Derive HYPE-PERP+0.0056%1h93.935−0.059%$16.4M$7.3M10xas long as short
edgeX HYPEUSDC+0.0061%4h94.240+0.266%$5.1M$29.9M30xas long as short
OKX HYPE-USDT-SWAP+0.0080%8h93.998+0.009%$115.9M$318.2M50xas long as short
Lighter HYPE+0.0096%1h94.024+0.036%$19.2M$59.6M20xas long as short
Lighter RH HYPE+0.0096%1h94.003+0.014%$3.0M$12.1M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.959−0.033%$66K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.963−0.028%$400K$188K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h94.061+0.076%$342K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h94.050+0.064%$26K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.951−0.041%$6.6M$44.8M10xas long as short
Hyperliquid HYPE+0.0100%1h94.108+0.126%$2.05B$677.3M10xas long as short
Pacifica HYPE+0.0100%1h94.061+0.076%$10.2M$14.6M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.995+0.005%$46.6M$18.1M75xas long as short
Bitget HYPEUSDT+0.0100%4h94.012+0.023%$228.0M$100.9M75xas long as short
BingX HYPE-USDT+0.0100%4h94.000+0.011%—$54.0M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h94.012+0.023%$7.7M$10.4M20xas long as short
Variational Omni HYPE+0.0100%8h94.030+0.043%$31.5M$54.1M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h94.271+0.299%$7.6M$45.8M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h94.209+0.233%$341K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h94.018+0.030%$680K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h94.026+0.039%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.984−0.006%$480K$2.6M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.963−0.029%$76K$171K20xas long as short
SunX HYPE-USDT+0.0100%4h94.052+0.066%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.975−0.016%$2.0M$2.0M10xas long as short
Bulk HYPE-USDshort+0.0100%1h94.120+0.138%$205K$4K10x
Extended HYPE-USD+0.0104%1h93.979−0.012%$18.8M$44.5M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0144%1h94.030+0.043%$4.9M$5.5M50xas long as short
BloFin HYPE-USDT+0.0193%4h94.099+0.116%$17.0M$12.2M75xas long as short
Injective HYPE/USDC PERP+0.0205%1h88.460−5.884%$29K$338K12xas long as short
Kalshi KXHYPEPERP+0.0222%8h94.102+0.119%$1.9M$5.1M2.3xas long as short
RISEx HYPE/USDC+0.0222%1h94.001+0.012%$2.8M$6.7M20xas long as short
Reya HYPERUSDPERP+0.0251%1h93.952−0.041%$79K$146K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0333% / S −0.0152%1h93.999+0.009%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0409%1h94.076+0.091%$7.5M$4.7M50xas long as short
HTX HYPE-USDT+0.0420%4h94.200+0.223%$1.5M$6.3M75xas long as short
Kraken Futures PF_HYPEUSD+0.0671%1h94.076+0.092%$21.0M$29.7M50xas long as short