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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: spread
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Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.046%
Price spread now: Hyperliquid against SoDEX+0.122%7-day average +0.052% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$250.251% of the position
Long on SoDEXShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.054%+$5 on $10k
Price spread, last 3 days (all we have)−0.073%−$7 · spread now +0.122%, 7d avg +0.052%
Together, before fees−0.019%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 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: Hyperliquid is 0.070% dearer against SoDEX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.052%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSoDEX HYPE-USD93.3630.0100pay 0.0013% / 1h47m 58s$2.0M$2.0M10x
ShortHyperliquid HYPE93.4770.0100get 0.0013% / 1h47m 58s$2.04B$673.0M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against SoDEX. 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

Funding earned
$0
Price spread: +0.122% → +0.052%
$7.01
Slippage, 4 orders
−$8.13
Fee SoDEX: 4 bp × 2 orders
−$8
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$18.13
Costs to cover
0.251%
Break-even
never at this rate
Slippage from SoDEX: live order book, 1 min ago; Hyperliquid: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy SoDEX live order book, 1 min ago0.48 bp7.3 bp −$713.7 bp −$137101.2 bp −$10.1Kdoesn't fit
Sell Hyperliquid live order book, 6 min ago0.05 bp4.6 bp −$55.8 bp −$58doesn't fitdoesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1064%1h93.383+0.022%$197K$229K7xas long as short
Arcus HYPE-USD−0.0786%1h93.226−0.147%$1.2M$3.9M10xas long as short
Aftermath Perps HYPEUSD−0.0180%1h93.379+0.017%$22K$21K10xas long as short
Backpack HYPE_USDC_PERP−0.0133%1h93.339−0.026%$7.8M$10.6M20xas long as short
Ondo Perps HYPE-USD.P−0.0107%1h93.450+0.093%$699K$979K10xas long as short
Gate HYPE_USDT−0.0082%4h93.376+0.014%$44.3M$53.8M75xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.453+0.096%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0072%1h93.337−0.028%$85K$361K20xas long as short
Phemex HYPEUSDT−0.0057%8h93.340−0.025%$12.7M$2.7M50xas long as short
Orderly PERP_HYPE_USDC−0.0050%4h93.324−0.042%$158K$646K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT−0.0019%4h93.394+0.033%$8.9M$36.2M300xas long as short
ApeX Omni HYPEUSDT−0.0006%1h93.312−0.055%$337K$1.1M50xas long as short
dYdX HYPE-USD0.0000%1h93.455+0.099%$128K$31K5xas long as short
Perpl HYPE0.0000%43m93.368+0.006%$22K$333K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.387+0.025%$26K—150xas long as short
BingX HYPE-USDT+0.0012%4h93.390+0.029%—$54.2M—as long as short
Bybit HYPEUSDT+0.0021%8h93.365+0.002%$319.4M$283.0M75xas long as short
edgeX HYPEUSDC+0.0038%4h93.103−0.278%$5.0M$29.8M30xas long as short
MEXC HYPE_USDT+0.0042%4h93.378+0.016%$88.3M$82.2M100xas long as short
Bullet HYPE-USD+0.0045%1h93.3630.000%$111K$579K20xas long as short
Binance HYPEUSDT+0.0047%4h93.376+0.014%$380.6M$904.8M75xas long as short
Bluefin HYPE-PERP+0.0048%1h93.343−0.021%$79K$174K20xas long as short
Derive HYPE-PERP+0.0058%1h93.336−0.028%$16.2M$7.6M10xas long as short
Phoenix HYPE+0.0060%1h93.190−0.185%$212K$1.2M10xas long as short
OKX HYPE-USDT-SWAP+0.0064%8h93.380+0.018%$115.2M$315.6M50xas long as short
Aevo HYPE-PERP+0.0088%1h93.354−0.010%$397K$177K20xas long as short
Lighter HYPE+0.0096%1h93.395+0.034%$16.4M$62.2M20xas long as short
Lighter RH HYPE+0.0096%1h93.390+0.029%$3.1M$11.8M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.332−0.033%$64K$1.2M50xas long as short
Paradex HYPE-USD-PERP+0.0097%8h93.395+0.035%$339K$165K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.350−0.014%$37K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.356−0.008%$6.6M$44.7M10xas long as short
Hyperliquid HYPEshort+0.0100%1h93.477+0.122%$2.04B$673.0M10x
Pacifica HYPE+0.0100%1h93.419+0.060%$10.0M$14.7M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.395+0.034%$46.0M$18.4M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.389+0.028%$226.1M$100.7M75xas long as short
Variational Omni HYPE+0.0100%8h93.281−0.088%$30.9M$55.0M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.172−0.205%$7.5M$46.9M10xas long as short
StandX HYPE-USD+0.0100%1h93.508+0.155%$667K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.410+0.050%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.362−0.001%$467K$2.5M20xas long as short
SunX HYPE-USDT+0.0100%4h93.424+0.065%$32K$1.6M20xas long as short
SoDEX HYPE-USDlong+0.0100%1h93.363long leg$2.0M$2.0M10x
Bulk HYPE-USD+0.0100%1h93.250−0.121%$203K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.352−0.012%$18.4M$44.4M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.410+0.050%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.440+0.082%$30K$338K12xas long as short
BloFin HYPE-USDT+0.0175%4h93.407+0.047%$17.0M$12.1M75xas long as short
RISEx HYPE/USDC+0.0210%1h93.378+0.016%$2.7M$6.7M20xas long as short
Reya HYPERUSDPERP+0.0253%1h93.298−0.070%$79K$142K15xas long as short
Kalshi KXHYPEPERP+0.0258%8h93.427+0.069%$1.9M$5.2M2.3xas long as short
HTX HYPE-USDT+0.0264%4h93.500+0.147%$1.4M$6.1M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0334% / S −0.0158%1h93.380+0.018%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0510%1h93.476+0.121%$7.5M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0682%1h93.456+0.100%$20.8M$29.9M50xas long as short