HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0009%/8h= +1.0% APRnext payment +$0.01 per $10,000 · paid last 24h −0.031%

Price spread now: gTrade (Gains Network) against Phoenix−0.141%237s7-day average −0.072% · you buy dearer than you sell

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

Long on Phoenix Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.196%−$20 on $10k

Price spread, last 4 days (all we have)+0.130%+$13 · spread now −0.141%, 7d avg −0.072%

Together, before fees−0.065%−$7 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: gTrade (Gains Network) is 0.069% cheaper against Phoenix than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.072%. The two prices were read 237 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	Phoenix HYPE	95.326	−0.0008	get 0.0001% / 1h	48m 50s	$199K	$1.1M	10x
Short	gTrade (Gains Network) HYPE/USD	95.192	L +0.0002% / S −0.0001%	get 0.0000% / 1h	48m 50s	$100K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Phoenix. 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 PhoenixbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.141%Rate

Funding earned: $1.91
Price spread: −0.141% → −0.072%: −$6.86
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$21.95
Costs to cover: 0.170%
Break-even: 87.4 days

Slippage unknown: Phoenix: live order book, 2 min ago; gTrade (Gains Network): no order-book sample. 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 Phoenix live order book, 2 min ago	0.05 bp	3.7 bp −$4	8.3 bp −$83	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
Hibachi HYPE/USDT-P	−0.1088%	1h	95.235	−0.096%	$215K	$263K	7x	as long as short
Phemex HYPEUSDT	−0.0260%	8h	94.994	−0.348%	$12.9M	$2.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0252%	1h	94.957	−0.387%	$18.5M	$35.2M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0211%	1h	94.920	−0.426%	$689K	$1.2M	10x	as long as short
Lighter HYPE	−0.0184%	1h	94.933	−0.413%	$16.3M	$57.5M	20x	as long as short
Arcus HYPE-USD	−0.0130%	1h	94.992	−0.350%	$1.1M	$2.4M	10x	as long as short
01 Exchange HYPEUSD	−0.0128%	1h	94.951	−0.393%	$96K	$338K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0124%	1h	95.188	−0.145%	$22K	$17K	10x	as long as short
Gate HYPE_USDT	−0.0096%	4h	94.901	−0.446%	$54.7M	$53.2M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.191	−0.142%	$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
ApeX Omni HYPEUSDT	−0.0068%	1h	95.141	−0.194%	$342K	$887K	50x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.020	−0.321%	$4.7M	$5.5M	50x	as long as short
Bullet HYPE-USD	−0.0053%	1h	94.979	−0.364%	$113K	$581K	20x	as long as short
Popdex HYPEUSDT	−0.0048%	1h	94.962	−0.382%	$273K	$1.0M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0046%	4h	94.925	−0.421%	$147K	$643K	20x	as long as short
Aster HYPEUSDT	−0.0043%	4h	94.899	−0.448%	$8.9M	$32.7M	300x	as long as short
SoDEX HYPE-USD	−0.0018%	1h	94.950	−0.394%	$2.1M	$340K	10x	as long as short
OKX HYPE-USDT-SWAP	−0.0015%	8h	94.892	−0.455%	$118.7M	$302.4M	50x	as long as short
Phoenix HYPElong	−0.0008%	1h	95.326	long leg	$199K	$1.1M	10x
dYdX HYPE-USD	0.0000%	1h	94.991	−0.351%	$129K	$94K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.998	−0.344%	$24K	$250K	10x	as long as short
Deribit HYPE_USDC-PERPETUAL	0.0000%	1h	95.036	−0.304%	$7.5M	$4.3M	50x	as long as short
gTrade (Gains Network) HYPE/USDshort	L +0.0002% / S −0.0001%	1h	95.192	−0.141%	$100K	—	150x
Bitget HYPEUSDT	+0.0016%	4h	94.915	−0.431%	$228.1M	$86.8M	75x	as long as short
Bybit HYPEUSDT	+0.0018%	8h	94.902	−0.445%	$319.5M	$265.5M	75x	as long as short
edgeX HYPEUSDC	+0.0072%	4h	95.113	−0.224%	$5.1M	$29.2M	30x	as long as short
Bluefin HYPE-PERP	+0.0073%	1h	94.979	−0.364%	$79K	$135K	20x	as long as short
Bulk HYPE-USD	+0.0074%	1h	95.269	−0.060%	$232K	$12K	10x	as long as short
Paradex HYPE-USD-PERP	+0.0076%	8h	94.981	−0.362%	$339K	$34K	20x	as long as short
Binance HYPEUSDT	+0.0077%	4h	94.903	−0.444%	$381.4M	$851.5M	75x	as long as short
MEXC HYPE_USDT	+0.0082%	4h	94.900	−0.447%	$89.9M	$83.2M	100x	as long as short
StandX HYPE-USD	+0.0086%	1h	95.142	−0.193%	$692K	$2.7M	20x	as long as short
BingX HYPE-USDT	+0.0092%	4h	94.905	−0.442%	—	$49.4M	—	as long as short
Lighter RH HYPE	+0.0096%	1h	94.952	−0.392%	$3.4M	$10.1M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	94.980	−0.363%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.995	−0.347%	$7.3M	$51.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.061	−0.278%	$2.11B	$646.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.029	−0.312%	$10.2M	$13.2M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.906	−0.441%	$47.2M	$17.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.981	−0.362%	$7.3M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.111	−0.226%	$30.0M	$53.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.192	−0.141%	$7.7M	$39.2M	10x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.053	−0.287%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.995	−0.347%	$503K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.082	−0.256%	$33K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.043	−0.297%	$1.4M	$5.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.874	−0.474%	$18.4M	$39.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.942	−0.403%	$401K	$130K	20x	as long as short
Kalshi KXHYPEPERP	+0.0126%	8h	95.062	−0.277%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.008	−0.333%	$3.2M	$5.5M	20x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	95.108	−0.229%	$85K	$96K	15x	as long as short
BloFin HYPE-USDT	+0.0322%	4h	94.950	−0.394%	$17.4M	$11.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.199	−0.133%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.500	+0.183%	$31K	$334K	12x	as long as short