HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0570%/8h= +62.4% APRnext payment +$0.71 per $10,000 · paid last 24h +0.006%

Price spread now: Kraken Futures against Pacifica+0.061%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on Pacifica Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.162%+$16 on $10k

Price spread, last 3 days (all we have)−0.076%−$8 · spread now +0.061%, 7d avg +0.018%

Together, before fees+0.087%+ Points / potential airdropPacifica: Active · farm board+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Kraken Futures is 0.043% dearer against Pacifica than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.018%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.162% in total (about 8.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.71 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	Pacifica HYPE	94.190	0.0100	pay 0.0013% / 1h	27m 52s	$10.2M	$14.6M	20x
Short	Kraken Futures PF_HYPEUSD	94.248	0.0670	get 0.0084% / 1h	27m 52s	$21.0M	$29.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Pacifica. 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 PacificabpFee Kraken FuturesbpOrdersPrice spread, now +0.061%Rate

Funding earned: $119.69
Price spread: +0.061% → +0.018%: $4.32
Slippage, 4 orders: −$6.97
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $99.04
Costs to cover: 0.250%
Break-even: 1.2 days

Slippage from Pacifica: live order book, 1 min ago; Kraken Futures: live order book, 1 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 Pacifica live order book, 1 min ago	0.05 bp	4.8 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	1.33 bp	6.9 bp −$7	9.7 bp −$97	18.6 bp −$1,862	59.9 bp −$29.9K

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	−0.1384%	1h	93.990	−0.213%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	94.084	−0.113%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0228%	1h	94.132	−0.062%	$22K	$21K	10x	as long as short
Phemex HYPEUSDT	−0.0155%	8h	94.112	−0.083%	$12.8M	$2.6M	50x	as long as short
dYdX HYPE-USD	−0.0143%	1h	94.131	−0.062%	$129K	$31K	5x	as long as short
Ondo Perps HYPE-USD.P	−0.0142%	1h	93.950	−0.255%	$706K	$956K	10x	as long as short
Bullet HYPE-USD	−0.0100%	1h	94.166	−0.025%	$113K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.137	−0.056%	$86K	$359K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.164	−0.028%	$3K	$331	25x	as long as short
Bybit HYPEUSDT	−0.0019%	8h	94.096	−0.100%	$323.2M	$280.6M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0018%	4h	94.126	−0.068%	$160K	$645K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.187	−0.004%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.174	−0.017%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0017%	4h	94.127	−0.067%	$8.9M	$36.1M	300x	as long as short
Gate HYPE_USDT	+0.0018%	4h	94.113	−0.082%	$44.5M	$59.8M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	94.121	−0.073%	$219K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0040%	1h	94.109	−0.086%	$16.5M	$7.3M	10x	as long as short
Binance HYPEUSDT	+0.0048%	4h	94.125	−0.069%	$383.9M	$893.4M	75x	as long as short
MEXC HYPE_USDT	+0.0048%	4h	94.121	−0.073%	$89.3M	$82.7M	100x	as long as short
edgeX HYPEUSDC	+0.0068%	4h	94.068	−0.130%	$5.1M	$30.0M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0078%	8h	94.117	−0.078%	$116.1M	$318.6M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.162	−0.030%	$19.2M	$59.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.159	−0.033%	$3.0M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.132	−0.062%	$66K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.134	−0.060%	$400K	$180K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.241	+0.054%	$342K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.110	−0.085%	$26K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.177	−0.015%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.217	+0.028%	$2.05B	$677.3M	10x	as long as short
Pacifica HYPElong	+0.0100%	1h	94.190	long leg	$10.2M	$14.6M	20x
KuCoin HYPEUSDTM	+0.0100%	4h	94.120	−0.075%	$46.6M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.116	−0.079%	$228.2M	$100.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.114	−0.081%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.133	−0.061%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.030	−0.170%	$31.5M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.088	−0.109%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.209	+0.020%	$341K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.984	−0.219%	$680K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.159	−0.033%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.187	−0.003%	$481K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.151	−0.042%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.206	+0.017%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.153	−0.039%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.151	−0.042%	$205K	$2K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.097	−0.099%	$18.8M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.030	−0.170%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0192%	4h	94.018	−0.183%	$17.0M	$12.2M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.318%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.187	−0.004%	$2.8M	$6.7M	20x	as long as short
Kalshi KXHYPEPERP	+0.0224%	8h	94.173	−0.018%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0251%	1h	94.165	−0.027%	$79K	$142K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0155%	1h	94.194	+0.004%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0419%	1h	94.253	+0.067%	$7.5M	$4.7M	50x	as long as short
HTX HYPE-USDT	+0.0421%	4h	94.350	+0.170%	$1.5M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSDshort	+0.0670%	1h	94.248	+0.061%	$21.0M	$29.7M	50x