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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 22:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h +0.018%
Price spread now: Phoenix against SunX+0.089%7-day average +0.018% · you sell dearer than you buy
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$61as in the Price arb table
costs, in and out, $10k−$680.682% of the position
Long on SunXShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.259%+$26 on $10k
Price spread, last 3 days (all we have)−0.025%−$2 · spread now +0.089%, 7d avg +0.018%
Together, before fees+0.234%+$23 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phoenix is 0.071% dearer against SunX than usual: you sell high and buy low (spread +0.089% now, against its 7-day average of +0.018%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.6 days. Mind the row above: over the last 7 days funding on this pair paid +0.259%, so the current rate has only just turned against you.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSunX HYPE-USDT93.2100.0100pay 0.0050% / 4h1h 18m$32K$1.6M20x
ShortPhoenix HYPE93.2930.0034get 0.0004% / 1h18m 24s$214K$1.2M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against SunX. 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

Funding earned
−$13.8
Price spread: +0.089% → +0.018%
$7.08
Slippage, 4 orders
−$53.19
Fee SunX: 4 bp × 2 orders
−$8
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$74.91
Costs to cover
0.682%
Break-even
never at this rate
Slippage from SunX: live order book, 7 min ago; Phoenix: live order book, 5 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 SunX live order book, 7 min ago19.33 bp24.1 bp −$24doesn't fitdoesn't fitdoesn't fit
Sell Phoenix live order book, 5 min ago0.97 bp5.4 bp −$59.6 bp −$96119.3 bp −$11.9Kdoesn'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
Aftermath Perps HYPEUSD−0.0438%1h93.164−0.050%$22K$22K10xas long as short
Hibachi HYPE/USDT-P−0.0336%1h93.229+0.020%$197K$230K7xas long as short
Arcus HYPE-USD−0.0131%1h93.190−0.021%$1.2M$4.0M10xas long as short
Ondo Perps HYPE-USD.P−0.0125%1h93.170−0.043%$699K$929K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.245+0.038%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0032%1h93.288+0.084%$90K$361K20xas long as short
Popdex HYPEUSDT−0.0008%1h93.257+0.050%$58K$1.2M50xas long as short
dYdX HYPE-USD0.0000%1h93.276+0.071%$127K$32K5xas long as short
Perpl HYPE0.0000%43m93.250+0.043%$23K$331K10xas long as short
Aster HYPEUSDT0.0000%4h93.255+0.048%$8.9M$35.9M300xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.289+0.084%$20K—150xas long as short
Bybit HYPEUSDT+0.0021%8h93.250+0.043%$323.1M$286.9M75xas long as short
Orderly PERP_HYPE_USDC+0.0021%4h93.242+0.034%$172K$518K20xas long as short
Phoenix HYPEshort+0.0034%1h93.293+0.089%$214K$1.2M10x
Bullet HYPE-USD+0.0040%1h93.247+0.040%$112K$579K20xas long as short
Derive HYPE-PERP+0.0047%1h93.185−0.026%$16.3M$7.0M10xas long as short
Gate HYPE_USDT+0.0056%4h93.246+0.039%$43.9M$58.6M75xas long as short
Binance HYPEUSDT+0.0066%4h93.257+0.050%$381.9M$894.9M75xas long as short
MEXC HYPE_USDT+0.0066%4h93.257+0.050%$90.3M$82.2M100xas long as short
edgeX HYPEUSDC+0.0079%4h93.2100.000%$5.1M$29.7M30xas long as short
Lighter HYPE+0.0096%1h93.303+0.100%$18.6M$59.0M20xas long as short
Lighter RH HYPE+0.0096%1h93.267+0.061%$3.1M$12.2M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.227+0.018%$397K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.266+0.060%$339K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.230+0.021%$35K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.245+0.038%$5.9M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.296+0.092%$2.03B$669.3M10xas long as short
Pacifica HYPE+0.0100%1h93.277+0.072%$10.0M$14.4M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.250+0.043%$113.8M$314.5M50xas long as short
Bulk HYPE-USD+0.0100%1h93.232+0.024%$204K$8K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.266+0.060%$47.0M$18.8M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.267+0.061%$226.1M$103.0M75xas long as short
BingX HYPE-USDT+0.0100%4h93.241+0.033%—$53.8M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.248+0.041%$7.8M$11.0M20xas long as short
Variational Omni HYPE+0.0100%8h93.153−0.061%$29.0M$50.6M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.258+0.051%$7.5M$46.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.262+0.056%$415K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.227+0.018%$674K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.279+0.074%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.282+0.077%$493K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.243+0.035%$76K$167K20xas long as short
SunX HYPE-USDTlong+0.0100%4h93.210long leg$32K$1.6M20x
SoDEX HYPE-USD+0.0100%1h93.217+0.008%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.216+0.006%$12.7M$2.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.231+0.023%$18.2M$41.9M50xas long as short
Kalshi KXHYPEPERP+0.0113%8h93.238+0.030%$1.9M$5.3M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.220+0.011%$4.9M$5.7M50xas long as short
HTX HYPE-USDT+0.0239%4h93.400+0.204%$1.5M$7.7M75xas long as short
Injective HYPE/USDC PERP+0.0239%1h93.120−0.097%$30K$338K12xas long as short
Reya HYPERUSDPERP+0.0247%1h93.250+0.043%$77K$159K15xas long as short
BloFin HYPE-USDT+0.0268%4h93.242+0.034%$16.8M$12.5M75xas long as short
RISEx HYPE/USDC+0.0280%1h93.290+0.086%$2.7M$6.8M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0165%1h93.259+0.053%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0383%1h93.322+0.120%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSD+0.0465%1h93.331+0.130%$20.9M$29.0M50xas long as short