HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1864%/8h= −204.1% APRnext payment −$2.33 per $10,000 · paid last 24h −0.309%

Price spread now: Hibachi against Reya+0.055%7-day average −0.053% · you sell dearer than you buy

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

Long on Reya Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−1.148%−$115 on $10k

Price spread, last 4 days (all we have)−0.080%−$8 · spread now +0.055%, 7d avg −0.053%

Together, before fees−1.228%+ Points / potential airdropReya: Active · Hibachi: Active · farm board−$123 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hibachi is 0.108% dearer against Reya than usual: you sell high and buy low (spread +0.055% now, against its 7-day average of −0.053%): +$11 on $10k if it goes back. Holding the pair costs −$56 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya HYPERUSDPERP	94.388	0.0272	pay 0.0034% / 1h	7m 31s	$83K	$121K	15x
Short	Hibachi HYPE/USDT-P	94.440	−0.1592	pay 0.0199% / 1h	7m 31s	$207K	$268K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Reya. 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 ReyabpFee HibachibpOrdersPrice spread, now +0.055%Rate

Funding earned: −$391.4
Price spread: +0.055% → −0.053%: $10.79
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$395.61
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Hibachi: live order book, 31 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 Reya no order-book sample	—	—	—	—	—
Sell Hibachi live order book, 31 min ago	17.49 bp	23.9 bp −$24	43.4 bp −$434	doesn't fit	doesn't fit

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 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-Pshort	−0.1592%	1h	94.440	+0.055%	$207K	$268K	7x
Bluefin HYPE-PERP	−0.0389%	1h	94.422	+0.036%	$80K	$152K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0205%	1h	94.290	−0.104%	$711K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0194%	1h	94.416	+0.030%	$112K	$575K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0186%	1h	94.416	+0.029%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.447	+0.063%	$88K	$363K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.398	+0.011%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.404	+0.017%	$1.0M	$3.5M	10x	as long as short
Derive HYPE-PERP	−0.0027%	1h	94.383	−0.005%	$16.4M	$7.3M	10x	as long as short
BingX HYPE-USDT	−0.0020%	4h	94.422	+0.036%	—	$52.8M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0019%	8h	94.415	+0.029%	$317.3M	$288.3M	75x	as long as short
Lighter HYPE	−0.0008%	1h	94.381	−0.007%	$16.3M	$64.7M	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.416	+0.030%	$147K	$686K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.466	+0.083%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.520	+0.140%	$1.9M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.468	+0.085%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.400	+0.013%	$19K	$286K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.463	+0.079%	$124K	—	150x	as long as short
Bitget HYPEUSDT	+0.0018%	4h	94.410	+0.023%	$226.7M	$100.2M	75x	as long as short
Polymarket Perps HYPE-USD	+0.0020%	1h	94.446	+0.061%	$498K	$2.8M	20x	as long as short
Phemex HYPEUSDT	+0.0036%	8h	94.391	+0.003%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0041%	8h	94.393	+0.005%	$337K	$154K	20x	as long as short
SoDEX HYPE-USD	+0.0054%	1h	94.437	+0.052%	$2.1M	$1.9M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.430	+0.045%	$4.7M	$6.2M	50x	as long as short
Vest HYPE-PERP	+0.0064%	1h	94.489	+0.107%	—	$190K	5x	as long as short
OKX HYPE-USDT-SWAP	+0.0066%	8h	94.427	+0.041%	$117.8M	$325.1M	50x	as long as short
Gate HYPE_USDT	+0.0086%	4h	94.414	+0.028%	$50.4M	$56.9M	75x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	94.392	+0.004%	$5.0M	$30.6M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.384	−0.004%	$3.2M	$10.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.428	+0.042%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.410	+0.023%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.427	+0.041%	$7.2M	$52.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.513	+0.132%	$2.08B	$687.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.414	+0.028%	$8.8M	$36.9M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.427	+0.042%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.427	+0.041%	$378.7M	$932.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.428	+0.042%	$218K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.426	+0.040%	$89.5M	$84.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.415	+0.029%	$46.9M	$18.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.383	−0.005%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.383	−0.005%	$29.7M	$54.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.416	+0.030%	$7.6M	$45.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.371	−0.018%	$350K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.434	+0.049%	$683K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.464	+0.081%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.552	+0.174%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.405	+0.018%	$18.3M	$43.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.407	+0.020%	$399K	$153K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0022%	1h	94.482	+0.099%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.740	+0.373%	$31K	$340K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.476	+0.093%	$20.2M	$30.2M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.461	+0.077%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERPlong	+0.0272%	1h	94.388	long leg	$83K	$121K	15x
Deribit HYPE_USDC-PERPETUAL	+0.0279%	1h	94.532	+0.153%	$7.5M	$4.3M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.399	+0.012%	$17.1M	$12.4M	75x	as long as short