HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0006%/8h= +0.7% APRnext payment +$0.06 per $10,000 · paid last 24h −0.003%

Price spread now: Variational Omni against Paradex−0.114%53s7-day average −0.046% · you buy dearer than you sell

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

Long on Paradex Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.007%+$1 · spread now −0.114%, 7d avg −0.046%

Together, before fees+0.005%+ Points / potential airdropParadex: Active · Variational Omni: Active · farm board+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.069% cheaper against Paradex than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.046%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex HYPE-USD-PERP	92.794	0.0094	pay 0.0094% / 8h	4h 18m	$339K	$163K	20x
Short	Variational Omni HYPE	92.688	0.0100	get 0.0100% / 8h	4h 18m	$28.6M	$57.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.114%Rate

Funding earned: $1.33
Price spread: −0.114% → −0.046%: −$6.86
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.53
Costs to cover: 0.040%
Break-even: 57.0 days

Slippage unknown: Paradex: live order book, 40 min ago; Variational Omni: RFQ quote, just now. 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 Paradex live order book, 40 min ago	12.88 bp	14.9 bp −$15	149.0 bp −$1,490	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, just now	0.44 bp	doesn't fit	6.0 bp −$60	23.7 bp −$2,366	doesn't fit

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
Arcus HYPE-USD	−0.0948%	1h	92.709	−0.091%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0256%	1h	92.721	−0.079%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0239%	1h	92.706	−0.094%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.765	−0.031%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.751	−0.046%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	92.813	+0.021%	$86K	$361K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.770	−0.025%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.785	−0.010%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.790	−0.005%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0022%	8h	92.726	−0.073%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0032%	1h	92.767	−0.029%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	+0.0038%	1h	92.700	−0.101%	$697K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0040%	4h	92.691	−0.111%	—	$53.4M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.817	+0.025%	$210K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0044%	4h	92.733	−0.066%	$8.7M	$36.2M	300x	as long as short
Bybit HYPEUSDT	+0.0048%	8h	92.690	−0.112%	$316.5M	$281.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0088%	8h	92.689	−0.113%	$113.6M	$303.9M	50x	as long as short
Gate HYPE_USDT	+0.0090%	4h	92.706	−0.095%	$44.5M	$55.3M	75x	as long as short
Paradex HYPE-USD-PERPlong	+0.0094%	8h	92.794	long leg	$339K	$163K	20x
Lighter HYPE	+0.0096%	1h	92.715	−0.085%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.713	−0.087%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.784	−0.011%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.760	−0.036%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.761	−0.035%	$7.1M	$45.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.739	−0.059%	$2.02B	$663.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.790	−0.004%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.698	−0.103%	$372.3M	$903.3M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.711	−0.089%	$87.4M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.740	−0.058%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.700	−0.101%	$224.4M	$98.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.760	−0.036%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPEshort	+0.0100%	8h	92.688	−0.114%	$28.6M	$57.4M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.707	−0.093%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.749	−0.048%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.772	−0.024%	$665K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.822	+0.031%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.790	−0.004%	$466K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.757	−0.040%	$78K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.762	−0.035%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.798	+0.004%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.771	−0.025%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.915	+0.131%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.701	−0.100%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.669	−0.135%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.775	−0.020%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0116%	4h	92.666	−0.137%	$5.0M	$29.5M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.222%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.810	+0.017%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0239%	8h	92.825	+0.034%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0262%	1h	92.773	−0.023%	$79K	$132K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.784	−0.010%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.843	+0.053%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.775	−0.020%	$16.7M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0429%	1h	92.869	+0.081%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.842	+0.052%	$3.2M	$6.4M	20x	as long as short