HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0353%/8h= +38.6% APRnext payment +$0.44 per $10,000 · paid last 24h +0.069%

Price spread now: Hyperliquid against Ondo Perps+0.280%7-day average +0.007% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.225%+$22 on $10k

Price spread, last 7 days+0.080%+$8 · spread now +0.280%, 7d avg +0.007%

Together, before fees+0.305%+ Points / potential airdropOndo Perps: Active · Hyperliquid: Season 2 · farm board+$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Hyperliquid is 0.273% dearer against Ondo Perps than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of +0.007%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.225% in total (about 11.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.44 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps HYPE-USD.P	95.080	−0.0146	get 0.0018% / 1h	29m 11s	$687K	$1.3M	10x
Short	Hyperliquid HYPE	95.346	0.0206	get 0.0026% / 1h	29m 11s	$2.11B	$646.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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

Position, each leg$Hold fordaysFee Ondo PerpsbpFee HyperliquidbpOrdersPrice spread, now +0.280%Rate

Funding earned: $74.06
Price spread: +0.280% → +0.007%: $27.26
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $87.32
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Ondo Perps: no order-book sample; Hyperliquid: live order book, 8 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 8 min ago	0.05 bp	5.7 bp −$6	doesn't fit	doesn't fit	doesn't fit

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 54 exchanges

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
Phemex HYPEUSDT	−0.0262%	8h	95.173	+0.098%	$13.0M	$2.3M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0251%	1h	95.250	+0.179%	$18.5M	$35.0M	50x	as long as short
Hibachi HYPE/USDT-P	−0.0232%	1h	95.274	+0.204%	$218K	$275K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0192%	1h	95.172	+0.097%	$22K	$17K	10x	as long as short
Ondo Perps HYPE-USD.Plong	−0.0146%	1h	95.080	long leg	$687K	$1.3M	10x
Arcus HYPE-USD	−0.0130%	1h	95.182	+0.107%	$1.0M	$2.4M	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	95.216	+0.143%	$102K	$344K	20x	as long as short
Bullet HYPE-USD	−0.0085%	1h	95.201	+0.127%	$113K	$580K	20x	as long as short
Gate HYPE_USDT	−0.0082%	4h	95.221	+0.148%	$55.3M	$53.6M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.162	+0.086%	$3K	$331	25x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin HYPE-PERP	−0.0064%	1h	95.217	+0.144%	$79K	$134K	20x	as long as short
Aster HYPEUSDT	−0.0061%	4h	95.213	+0.140%	$9.0M	$32.7M	300x	as long as short
Lighter HYPE	−0.0056%	1h	95.220	+0.147%	$16.5M	$58.1M	20x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.230	+0.158%	$4.7M	$5.5M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0055%	4h	95.196	+0.122%	$148K	$642K	20x	as long as short
OKX HYPE-USDT-SWAP	−0.0021%	8h	95.190	+0.116%	$119.1M	$303.7M	50x	as long as short
ApeX Omni HYPEUSDT	−0.0017%	1h	95.150	+0.074%	$342K	$901K	50x	as long as short
Phoenix HYPE	−0.0008%	1h	95.062	−0.019%	$202K	$1.1M	10x	as long as short
Bitget HYPEUSDT	−0.0002%	4h	95.170	+0.095%	$228.8M	$85.7M	75x	as long as short
Perpl HYPE	0.0000%	43m	95.214	+0.141%	$24K	$250K	10x	as long as short
Deribit HYPE_USDC-PERPETUAL	0.0000%	1h	95.296	+0.227%	$7.5M	$4.3M	50x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.169	+0.093%	$114K	—	150x	as long as short
Popdex HYPEUSDT	+0.0008%	1h	95.224	+0.151%	$275K	$1.0M	50x	as long as short
Bybit HYPEUSDT	+0.0022%	8h	95.210	+0.137%	$322.2M	$263.4M	75x	as long as short
dYdX HYPE-USD	+0.0038%	1h	95.147	+0.070%	$128K	$94K	5x	as long as short
edgeX HYPEUSDC	+0.0048%	4h	95.101	+0.022%	$5.1M	$28.8M	30x	as long as short
MEXC HYPE_USDT	+0.0056%	4h	95.219	+0.146%	$90.1M	$84.0M	100x	as long as short
Binance HYPEUSDT	+0.0056%	4h	95.215	+0.142%	$382.9M	$849.3M	75x	as long as short
BingX HYPE-USDT	+0.0058%	4h	95.215	+0.142%	—	$49.0M	—	as long as short
StandX HYPE-USD	+0.0080%	1h	95.082	+0.002%	$692K	$2.7M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0084%	8h	95.138	+0.061%	$339K	$30K	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.234	+0.162%	$3.4M	$10.1M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	95.229	+0.156%	$403K	$125K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.180	+0.105%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.215	+0.143%	$7.3M	$50.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.180	+0.106%	$10.3M	$13.1M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.174	+0.099%	$230K	$17K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.216	+0.143%	$47.7M	$17.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.176	+0.101%	$7.0M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.093	+0.013%	$29.6M	$52.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.129	+0.052%	$7.7M	$40.5M	10x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.257	+0.186%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.252	+0.181%	$504K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.242	+0.170%	$33K	$1.4M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	95.220	+0.147%	$2.1M	$334K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.327	+0.260%	$1.4M	$5.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.184	+0.109%	$18.3M	$39.1M	50x	as long as short
Kalshi KXHYPEPERP	+0.0128%	8h	95.274	+0.204%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.152	+0.076%	$3.1M	$5.2M	20x	as long as short
Hyperliquid HYPEshort	+0.0206%	1h	95.346	+0.280%	$2.11B	$646.0M	10x
BloFin HYPE-USDT	+0.0230%	4h	95.206	+0.133%	$17.4M	$11.4M	75x	as long as short
Reya HYPERUSDPERP	+0.0269%	1h	95.098	+0.019%	$85K	$90K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.255	+0.184%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.500	+0.442%	$31K	$334K	12x	as long as short