HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC+0.0119%/8h= +13.0% APRnext payment +$1.19 per $10,000 · paid last 24h +0.014%

Price spread now: Variational Omni against Phemex+0.009%7-day average −0.037% · you sell dearer than you buy

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

Long on Phemex Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.014%+$1 on $10k

Price spread, last 4 days (all we have)+0.018%+$2 · spread now +0.009%, 7d avg −0.037%

Together, before fees+0.032%+ Points / potential airdropVariational Omni: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Variational Omni is 0.046% dearer against Phemex than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex HYPEUSDT	94.321	−0.0019	get 0.0019% / 8h	7h 27m	$12.9M	$2.9M	50x
Short	Variational Omni HYPE	94.329	0.0100	get 0.0100% / 8h	7h 27m	$29.9M	$56.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Phemex. 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 PhemexbpFee Variational OmnibpOrdersPrice spread, now +0.009%Rate

Funding earned: $24.98
Price spread: +0.009% → −0.037%: $4.56
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $17.54
Costs to cover: 0.120%
Break-even: 2.1 days

Slippage unknown: Phemex: live order book, 2 min ago; Variational Omni: RFQ quote, 2 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 Phemex live order book, 2 min ago	2.97 bp	24.5 bp −$24	41.2 bp −$412	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	0.43 bp	doesn't fit	6.3 bp −$63	23.4 bp −$2,344	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
Hibachi HYPE/USDT-P	−0.0800%	1h	94.235	−0.091%	$210K	$267K	7x	as long as short
Bluefin HYPE-PERP	−0.0596%	1h	94.304	−0.018%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0293%	1h	94.401	+0.085%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0254%	1h	94.366	+0.048%	$112K	$577K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0175%	1h	94.210	−0.118%	$701K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	94.359	+0.040%	$90K	$365K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.332	+0.012%	$1.0M	$3.4M	10x	as long as short
Gate HYPE_USDT	−0.0086%	4h	94.321	0.000%	$51.6M	$55.4M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.377	+0.059%	$3K	$331	25x	as long as short
Kraken Futures PF_HYPEUSD	−0.0048%	1h	94.347	+0.028%	$18.8M	$35.5M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0030%	8h	94.350	+0.031%	$318.2M	$293.6M	75x	as long as short
Phemex HYPEUSDTlong	−0.0019%	8h	94.321	long leg	$12.9M	$2.9M	50x
Orderly PERP_HYPE_USDC	−0.0010%	4h	94.322	+0.001%	$147K	$678K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.385	+0.068%	$129K	$92K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.442	+0.128%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.394	+0.077%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.257	−0.068%	$113K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.404	+0.088%	$210K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0010%	1h	94.160	−0.171%	$16.3M	$7.5M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.440	+0.126%	$4.7M	$5.9M	50x	as long as short
Bitget HYPEUSDT	+0.0030%	4h	94.360	+0.041%	$227.0M	$98.0M	75x	as long as short
Vest HYPE-PERP	+0.0037%	1h	94.417	+0.102%	—	$190K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0041%	8h	94.373	+0.055%	$337K	$39K	20x	as long as short
Backpack HYPE_USDC_PERP	+0.0043%	1h	94.293	−0.030%	$7.5M	$10.4M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0044%	8h	94.344	+0.024%	$117.8M	$327.3M	50x	as long as short
SoDEX HYPE-USD	+0.0048%	1h	94.346	+0.027%	$2.1M	$2.0M	10x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	94.269	−0.056%	$5.0M	$31.0M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.344	+0.025%	$16.2M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.350	+0.031%	$3.2M	$10.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.340	+0.020%	$149K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.340	+0.020%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.343	+0.024%	$7.2M	$51.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.429	+0.115%	$2.07B	$689.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.358	+0.039%	$9.6M	$38.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.390	+0.073%	$10.2M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.361	+0.042%	$379.6M	$932.9M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.213	−0.114%	$219K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.331	+0.011%	$93.0M	$86.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.392	+0.075%	$47.1M	$19.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.320	−0.001%	—	$53.0M	—	as long as short
Variational Omni HYPEshort	+0.0100%	8h	94.329	+0.009%	$29.9M	$56.5M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.308	−0.014%	$7.6M	$44.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.315	−0.006%	$344K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.232	−0.094%	$694K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.428	+0.113%	$498K	$2.7M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.389	+0.072%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.511	+0.201%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.315	−0.006%	$18.2M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.382	+0.064%	$399K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.248	−0.077%	$3.1M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.170	+0.900%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0227%	1h	94.438	+0.124%	$7.5M	$4.4M	50x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	94.297	−0.025%	$83K	$105K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0156%	1h	94.397	+0.081%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.344	+0.024%	$17.3M	$12.5M	75x	as long as short