HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.029%

Price spread now: dYdX against SoDEX−0.184%7-day average +0.007% · 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−$95as in the Price arb table

costs, in and out, $10k−$760.761% of the position

Long on SoDEX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.073%−$7 on $10k

Price spread, last 3 days (all we have)+0.226%+$23 · spread now −0.184%, 7d avg +0.007%

Together, before fees+0.153%+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.191% cheaper against SoDEX than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.007%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX HYPE-USD	93.260	0.0100	pay 0.0013% / 1h	38m 43s	$2.0M	$2.0M	10x
Short	dYdX HYPE-USD	93.089	0	get 0.0000% / 1h	38m 43s	$128K	$31K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against SoDEX. 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 SoDEXbpFee dYdXbpOrdersPrice spread, now −0.184%Rate

Funding earned: −$21
Price spread: −0.184% → +0.007%: −$19.08
Slippage, 4 orders: −$58.07
Fee SoDEX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$116.15
Costs to cover: 0.761%
Break-even: never at this rate

Slippage from SoDEX: live order book, just now; dYdX: live order book, 30 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 SoDEX live order book, just now	0.05 bp	6.8 bp −$7	11.8 bp −$118	97.3 bp −$9,732	doesn't fit
Sell dYdX live order book, 30 min ago	25.82 bp	30.8 bp −$31	37.7 bp −$377	143.0 bp −$14.3K	1105.7 bp −$552.9K

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	−0.0944%	1h	92.980	−0.300%	$196K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	92.992	−0.287%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0167%	1h	93.221	−0.042%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0152%	1h	93.080	−0.193%	$696K	$981K	10x	as long as short
Gate HYPE_USDT	−0.0096%	4h	93.225	−0.038%	$44.2M	$54.3M	75x	as long as short
Backpack HYPE_USDC_PERP	−0.0090%	1h	93.247	−0.014%	$7.8M	$10.4M	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.153	−0.115%	$84K	$357K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.062	−0.212%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0057%	4h	93.228	−0.034%	$156K	$652K	20x	as long as short
Aster HYPEUSDT	−0.0042%	4h	93.223	−0.040%	$8.8M	$36.3M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin HYPE-PERP	−0.0028%	1h	93.257	−0.003%	$79K	$174K	20x	as long as short
Phemex HYPEUSDT	−0.0025%	8h	93.199	−0.065%	$12.6M	$2.7M	50x	as long as short
dYdX HYPE-USDshort	0.0000%	1h	93.089	−0.184%	$128K	$31K	5x
Perpl HYPE	0.0000%	43m	93.255	−0.005%	$22K	$333K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.286	+0.028%	$25K	—	150x	as long as short
Bybit HYPEUSDT	+0.0003%	8h	93.217	−0.046%	$320.6M	$286.1M	75x	as long as short
BingX HYPE-USDT	+0.0006%	4h	93.231	−0.031%	—	$54.3M	—	as long as short
Bullet HYPE-USD	+0.0030%	1h	93.263	+0.003%	$111K	$579K	20x	as long as short
MEXC HYPE_USDT	+0.0040%	4h	93.248	−0.013%	$87.6M	$82.5M	100x	as long as short
Binance HYPEUSDT	+0.0040%	4h	93.254	−0.006%	$379.3M	$907.0M	75x	as long as short
edgeX HYPEUSDC	+0.0056%	4h	93.325	+0.069%	$5.1M	$29.8M	30x	as long as short
Phoenix HYPE	+0.0060%	1h	93.233	−0.029%	$212K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0067%	8h	93.239	−0.023%	$114.7M	$315.3M	50x	as long as short
Derive HYPE-PERP	+0.0067%	1h	93.215	−0.048%	$16.2M	$7.6M	10x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.277	+0.018%	$397K	$177K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.239	−0.023%	$339K	$165K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.251	−0.010%	$16.4M	$62.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.265	+0.005%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.152	−0.116%	$65K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.020	−0.257%	$18K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.215	−0.048%	$5.6M	$45.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.316	+0.060%	$2.04B	$668.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.157	−0.110%	$10.0M	$14.8M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.404	+0.154%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.288	+0.030%	$46.0M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.233	−0.029%	$225.6M	$100.8M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.151	−0.117%	$30.9M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.195	−0.070%	$7.5M	$48.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.355	+0.102%	$337K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.050	−0.225%	$664K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.242	−0.020%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.208	−0.056%	$466K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.322	+0.066%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USDlong	+0.0100%	1h	93.260	long leg	$2.0M	$2.0M	10x
Extended HYPE-USD	+0.0104%	1h	93.205	−0.059%	$18.3M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.310	+0.054%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.050	−0.225%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0175%	4h	93.407	+0.158%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.162	−0.105%	$2.7M	$6.7M	20x	as long as short
HTX HYPE-USDT	+0.0237%	4h	93.400	+0.150%	$1.4M	$6.1M	75x	as long as short
Reya HYPERUSDPERP	+0.0254%	1h	93.254	−0.006%	$79K	$142K	15x	as long as short
Kalshi KXHYPEPERP	+0.0260%	8h	93.286	+0.028%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0158%	1h	93.279	+0.021%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0672%	1h	93.369	+0.117%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0683%	1h	93.363	+0.110%	$20.8M	$30.2M	50x	as long as short