HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0071%/8h= −7.8% APRnext payment −$0.71 per $10,000 · paid last 24h −0.015%

Price spread now: Bybit against Paradex−0.030%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$500.497% of the position

Long on Paradex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.025%−$2 on $10k

Price spread, last 4 days (all we have)+0.084%+$8 · spread now −0.030%, 7d avg −0.038%

Together, before fees+0.059%+ Points / potential airdropParadex: Active · farm board+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.038%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex HYPE-USD-PERP	93.318	0.0099	pay 0.0099% / 8h	2h 00m	$339K	$170K	20x
Short	Bybit HYPEUSDT	93.290	0.0028	get 0.0028% / 8h	2h 00m	$324.9M	$287.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Paradex. 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 ParadexbpFee BybitbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$14.98
Price spread: −0.030% → −0.038%: $0.79
Slippage, 4 orders: −$34.74
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$63.93
Costs to cover: 0.497%
Break-even: never at this rate

Slippage from Paradex: live order book, 24 min ago; Bybit: live order book, 4 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 Paradex live order book, 24 min ago	16.62 bp	18.6 bp −$19	145.8 bp −$1,458	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.54 bp	6.0 bp −$6	8.6 bp −$86	17.7 bp −$1,772	41.5 bp −$20.7K

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	−0.0792%	1h	93.304	−0.015%	$197K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0269%	1h	93.297	−0.022%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0214%	1h	93.230	−0.094%	$701K	$933K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.325	+0.008%	$90K	$360K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.295	−0.025%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0046%	1h	93.273	−0.049%	$111K	$580K	20x	as long as short
Derive HYPE-PERP	−0.0037%	1h	93.243	−0.080%	$16.4M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.280	−0.041%	$127K	$32K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.377	+0.063%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.293	−0.027%	$23K	$334K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.330	+0.013%	$20K	—	150x	as long as short
Aster HYPEUSDT	+0.0009%	4h	93.296	−0.023%	$8.9M	$35.7M	300x	as long as short
Bybit HYPEUSDTshort	+0.0028%	8h	93.290	−0.030%	$324.9M	$287.4M	75x
Popdex HYPEUSDT	+0.0032%	1h	93.297	−0.022%	$57K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0036%	4h	93.295	−0.025%	$44.0M	$58.1M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0050%	4h	93.306	−0.013%	$167K	$512K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.279	−0.042%	$215K	$1.2M	10x	as long as short
Vest HYPE-PERP	+0.0077%	1h	93.323	+0.005%	—	$454K	5x	as long as short
Lighter HYPE	+0.0096%	1h	93.339	+0.022%	$18.6M	$60.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.324	+0.007%	$3.1M	$12.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0098%	1h	93.289	−0.031%	$76K	$168K	20x	as long as short
Paradex HYPE-USD-PERPlong	+0.0099%	8h	93.318	long leg	$339K	$170K	20x
SoDEX HYPE-USD	+0.0100%	1h	93.253	−0.070%	$2.0M	$2.0M	10x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.310	−0.008%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.296	−0.024%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.350	+0.034%	$2.03B	$671.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.323	+0.005%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.300	−0.019%	$384.9M	$889.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.285	−0.035%	$114.7M	$314.8M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.270	−0.051%	$1.2M	$4.1M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.271	−0.050%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.298	−0.021%	$92.7M	$82.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.307	−0.012%	$46.2M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.316	−0.002%	$226.6M	$102.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.283	−0.037%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.321	+0.003%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.252	−0.071%	$29.1M	$50.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.271	−0.050%	$7.5M	$45.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.255	−0.067%	$405K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.324	+0.007%	$675K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.336	+0.019%	$493K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.333	+0.016%	$32K	$1.6M	20x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.249	−0.074%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.284	−0.036%	$18.4M	$41.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.327	+0.010%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0105%	4h	93.244	−0.079%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.390	+0.077%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.295	−0.024%	$78K	$158K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0275%	1h	93.405	+0.093%	$7.4M	$4.6M	50x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.910	+0.635%	$31K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0300%	4h	93.485	+0.179%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.326	+0.009%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.289	−0.031%	$17.1M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.359	+0.044%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.350	+0.035%	$19.6M	$26.9M	50x	as long as short