HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0459%/8h= −50.3% APRnext payment −$0.57 per $10,000 · paid last 24h −0.062%

Price spread now: SoDEX against RISEx−0.117%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$220.216% of the position

Long on RISEx Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.139%−$14 on $10k

Price spread, last 4 days (all we have)+0.111%+$11 · spread now −0.117%, 7d avg −0.023%

Together, before fees−0.028%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and SoDEX is 0.094% cheaper against RISEx than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.023%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.139% in total (about -14.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.57 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx HYPE/USDC	93.542	0.0559	pay 0.0070% / 1h	40m 16s	$3.2M	$6.4M	20x
Short	SoDEX HYPE-USD	93.432	0.0100	get 0.0013% / 1h	40m 16s	$2.0M	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against RISEx. 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 RISExbpFee SoDEXbpOrdersPrice spread, now −0.117%Rate

Funding earned: −$96.4
Price spread: −0.117% → −0.023%: −$9.4
Slippage, 4 orders: −$7.65
Fee RISEx: 3 bp × 2 orders: −$6
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$127.44
Costs to cover: 0.216%
Break-even: never at this rate

Slippage from RISEx: live order book, 4 min ago; SoDEX: live order book, 4 min ago.

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 RISEx live order book, 4 min ago	0.80 bp	3.8 bp −$4	5.2 bp −$52	doesn't fit	doesn't fit
Sell SoDEX live order book, 4 min ago	0.21 bp	6.9 bp −$7	13.4 bp −$134	doesn't fit	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	−0.1072%	1h	93.451	−0.097%	$198K	$241K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0212%	1h	93.635	+0.100%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0119%	1h	93.470	−0.077%	$704K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.516	−0.027%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0058%	1h	93.473	−0.073%	$112K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.514	−0.030%	$86K	$369K	20x	as long as short
Bluefin HYPE-PERP	−0.0029%	1h	93.428	−0.121%	$79K	$155K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0021%	4h	93.435	−0.114%	$145K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.525	−0.017%	$128K	$28K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.583	+0.044%	$1.8M	$5.6M	2.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.531	−0.012%	$20K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.481	−0.064%	$83K	—	150x	as long as short
Bybit HYPEUSDT	+0.0004%	8h	93.420	−0.130%	$315.3M	$288.5M	75x	as long as short
BingX HYPE-USDT	+0.0004%	4h	93.447	−0.101%	—	$53.8M	—	as long as short
Derive HYPE-PERP	+0.0013%	1h	93.443	−0.106%	$16.3M	$7.4M	10x	as long as short
Phoenix HYPE	+0.0017%	1h	93.654	+0.120%	$207K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	93.433	−0.116%	$225.2M	$99.6M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0078%	8h	93.550	+0.009%	$334K	$161K	20x	as long as short
edgeX HYPEUSDC	+0.0082%	4h	93.576	+0.037%	$5.0M	$30.6M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.480	−0.066%	$1.0M	$4.0M	10x	as long as short
Phemex HYPEUSDT	+0.0086%	8h	93.483	−0.063%	$12.8M	$2.8M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.443	−0.106%	$16.1M	$63.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.453	−0.095%	$3.1M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.495	−0.050%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.490	−0.055%	$22K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.524	−0.018%	$7.5M	$51.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.573	+0.034%	$2.05B	$683.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.462	−0.085%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.540	−0.001%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.442	−0.107%	$374.5M	$930.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.430	−0.119%	$115.4M	$315.2M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.459	−0.088%	$48.3M	$55.2M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.439	−0.110%	$89.5M	$83.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.463	−0.084%	$46.2M	$18.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.549	+0.008%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.479	−0.067%	$28.6M	$56.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.547	+0.006%	$7.5M	$48.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.589	+0.051%	$347K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.548	+0.007%	$678K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.554	+0.013%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.497	−0.048%	$469K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.540	−0.002%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USDshort	+0.0100%	1h	93.432	−0.117%	$2.0M	$1.9M	10x
HTX HYPE-USDT	+0.0100%	4h	93.600	+0.062%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.507	−0.037%	$216K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.411	−0.140%	$18.2M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.448	−0.100%	$395K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.470	−0.077%	$4.7M	$6.1M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.510	−0.034%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	93.446	−0.102%	$77K	$130K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0328%	1h	93.526	−0.017%	$7.4M	$4.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.498	−0.047%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.512	−0.032%	$17.0M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0416%	1h	93.508	−0.036%	$20.9M	$29.6M	50x	as long as short
RISEx HYPE/USDClong	+0.0559%	1h	93.542	long leg	$3.2M	$6.4M	20x