HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0212%/8h= +23.3% APRnext payment +$0.27 per $10,000 · paid last 24h +0.047%

Price spread now: Reya against Popdex−0.016%54s7-day average −0.015% · you buy dearer than you sell

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

Long on Popdex Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.021%+$2 on $10k

Price spread, last 4 days (all we have)+0.533%+$53 · spread now −0.016%, 7d avg −0.015%

Together, before fees+0.554%+ Points / potential airdropReya: Active · farm board+$55 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.021% in total (about 2.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.27 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex HYPEUSDT	95.213	0.0056	pay 0.0007% / 1h	3m 28s	$275K	$999K	50x
Short	Reya HYPERUSDPERP	95.197	0.0268	get 0.0034% / 1h	3m 28s	$85K	$90K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Popdex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PopdexbpFee ReyabpOrdersPrice spread, now −0.016%Rate

Funding earned: $44.6
Price spread: −0.016% → −0.015%: −$0.17
Slippage, 4 orders: no order book: not counted
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Reya: 3 bp × 2 orders: −$6
Net: $32.03
Costs to cover: 0.124%
Break-even: 2.0 days

Slippage unknown: Popdex: live order book, 9 min ago; Reya: 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 Popdex live order book, 9 min ago	0.37 bp	3.6 bp −$4	4.0 bp −$40	26.7 bp −$2,674	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 55 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
Phemex HYPEUSDT	−0.0293%	8h	95.207	−0.006%	$13.0M	$2.3M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0251%	1h	95.243	+0.032%	$18.5M	$34.6M	50x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.238	+0.026%	$1.1M	$2.7M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0101%	1h	95.235	+0.024%	$22K	$17K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0094%	1h	95.210	−0.003%	$678K	$1.3M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.187	−0.027%	$3K	$421	25x	as long as short
Aster HYPEUSDT	−0.0077%	4h	95.211	−0.002%	$9.1M	$34.3M	300x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	95.236	+0.024%	$100K	$348K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0065%	4h	95.183	−0.032%	$148K	$642K	20x	as long as short
Bluefin HYPE-PERP	−0.0062%	1h	95.200	−0.014%	$79K	$132K	20x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0062%	4h	95.191	−0.023%	$55.8M	$54.1M	75x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.270	+0.060%	$4.8M	$5.5M	50x	as long as short
Bullet HYPE-USD	−0.0050%	1h	95.214	+0.001%	$113K	$582K	20x	as long as short
OKX HYPE-USDT-SWAP	−0.0035%	8h	95.181	−0.034%	$119.4M	$303.7M	50x	as long as short
Bitget HYPEUSDT	−0.0024%	4h	95.194	−0.020%	$230.5M	$86.3M	75x	as long as short
Phoenix HYPE	−0.0008%	1h	95.308	+0.100%	$200K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	95.221	+0.009%	$24K	$251K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.279	+0.070%	$100K	—	150x	as long as short
Lighter HYPE	+0.0008%	1h	95.233	+0.021%	$16.7M	$59.0M	20x	as long as short
Derive HYPE-PERP	+0.0014%	1h	95.000	−0.224%	$16.4M	$7.0M	10x	as long as short
Bybit HYPEUSDT	+0.0036%	8h	95.210	−0.003%	$321.4M	$263.0M	75x	as long as short
edgeX HYPEUSDC	+0.0038%	4h	95.230	+0.018%	$5.1M	$28.1M	30x	as long as short
BingX HYPE-USDT	+0.0044%	4h	95.211	−0.002%	—	$49.2M	—	as long as short
MEXC HYPE_USDT	+0.0050%	4h	95.201	−0.013%	$90.3M	$85.0M	100x	as long as short
Binance HYPEUSDT	+0.0051%	4h	95.204	−0.009%	$384.4M	$849.7M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0054%	1h	95.301	+0.092%	$7.5M	$4.2M	50x	as long as short
Popdex HYPEUSDTlong	+0.0056%	1h	95.213	long leg	$275K	$999K	50x
dYdX HYPE-USD	+0.0063%	1h	95.285	+0.076%	$128K	$96K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0090%	8h	95.230	+0.017%	$340K	$30K	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.253	+0.042%	$3.2M	$10.4M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	95.218	+0.005%	$403K	$125K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.180	−0.035%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.201	−0.012%	$7.3M	$50.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.250	+0.038%	$10.3M	$13.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.260	+0.049%	$229K	$20K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.203	−0.011%	$47.6M	$17.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.204	−0.009%	$6.9M	$12.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.230	+0.018%	$29.7M	$52.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.278	+0.068%	$7.7M	$41.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.246	+0.035%	$324K	$926K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.268	+0.058%	$693K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.282	+0.073%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.222	+0.009%	$499K	$2.4M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.347	+0.141%	$33K	$1.4M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	95.224	+0.012%	$2.1M	$335K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.360	+0.154%	$1.4M	$5.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.170	−0.045%	$18.3M	$38.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0121%	8h	95.315	+0.107%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.280	+0.071%	$3.1M	$5.2M	20x	as long as short
Hyperliquid HYPE	+0.0152%	1h	95.320	+0.112%	$2.11B	$644.0M	10x	as long as short
BloFin HYPE-USDT	+0.0185%	4h	95.264	+0.054%	$17.4M	$11.6M	75x	as long as short
Reya HYPERUSDPERPshort	+0.0268%	1h	95.197	−0.016%	$85K	$90K	15x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.292	+0.083%	$1.4M	—	100x	as long as short
Hibachi HYPE/USDT-P	+0.0856%	1h	95.348	+0.142%	$215K	$279K	7x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.600	+0.406%	$31K	$334K	12x	as long as short