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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 08:00 UTC−0.0122%/8h= −13.3% APRpaid last 24h −0.050%
Price spread now: Orderly against Variational Omni+0.048%48s7-day average +0.021% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Variational OmniShort on Orderly
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.063%−$6 on $10k
Price spread, last 4 days (all we have)+0.080%+$8 · spread now +0.048%, 7d avg +0.021%
Together, before fees+0.017%+ Points / potential airdropVariational Omni: Active · farm board+$2 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Orderly is 0.026% dearer against Variational Omni than usual: you sell high and buy low (spread +0.048% now, against its 7-day average of +0.021%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 4 days (−0.063% in total) that is about 36 hours. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni HYPE93.3510.0100pay 0.0100% / 8h2h 35m$28.6M$56.3M—
ShortOrderly PERP_HYPE_USDC93.395−0.0022pay 0.0011% / 4h2h 35m$146K$663K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Orderly against Variational Omni. 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
−$25.58
Price spread: +0.048% → +0.021%
$2.63
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Orderly: 3 bp × 2 orders
−$6
Net
−$28.95
Costs to cover
0.060%
Break-even
never at this rate
Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Orderly: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Variational Omni RFQ quote, 4 min ago0.43 bpdoesn't fit5.0 bp −$5021.9 bp −$2,192doesn't fit
Sell Orderly no order-book sample—————
Orderly: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1664%1h93.244−0.114%$196K$234K7xas long as short
Aftermath Perps HYPEUSD−0.0381%1h93.358+0.008%$22K$21K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.469+0.127%$3K$33125xas long as short
Bullet HYPE-USD−0.0071%1h93.494+0.154%$112K$578K20xas long as short
Orderly PERP_HYPE_USDCshort−0.0022%4h93.395+0.048%$146K$663K20x
01 Exchange HYPEUSD−0.0016%1h93.505+0.165%$88K$366K20xas long as short
dYdX HYPE-USD0.0000%1h93.465+0.122%$128K$29K5xas long as short
Perpl HYPE0.0000%43m93.487+0.146%$22K$290K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.534+0.196%$62K—150xas long as short
Arcus HYPE-USD+0.0011%1h93.447+0.103%$1.0M$4.0M10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget HYPEUSDT+0.0016%4h93.482+0.141%$226.0M$98.9M75xas long as short
Bybit HYPEUSDT+0.0021%8h93.510+0.171%$317.8M$283.7M75xas long as short
Ondo Perps HYPE-USD.P+0.0022%1h93.430+0.085%$702K$1.2M10xas long as short
Phoenix HYPE+0.0026%1h93.434+0.089%$209K$1.2M10xas long as short
Phemex HYPEUSDT+0.0037%8h93.447+0.103%$12.6M$2.7M50xas long as short
edgeX HYPEUSDC+0.0094%4h93.304−0.050%$5.0M$30.0M30xas long as short
Paradex HYPE-USD-PERP+0.0095%8h93.500+0.160%$340K$162K20xas long as short
Lighter HYPE+0.0096%1h93.470+0.128%$16.1M$63.1M20xas long as short
Lighter RH HYPE+0.0096%1h93.468+0.126%$3.1M$11.4M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.479+0.138%$76K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h93.450+0.107%$28K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.470+0.129%$8.0M$48.5M10xas long as short
Hyperliquid HYPE+0.0100%1h93.516+0.177%$2.04B$668.6M10xas long as short
Aster HYPEUSDT+0.0100%4h93.513+0.174%$8.7M$36.5M300xas long as short
Pacifica HYPE+0.0100%1h93.504+0.164%$10.1M$15.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.512+0.173%$374.7M$913.6M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.491+0.150%$114.7M$310.0M50xas long as short
Gate HYPE_USDT+0.0100%4h93.471+0.129%$46.7M$54.2M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.514+0.175%$90.0M$80.9M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.489+0.148%$46.2M$18.9M75xas long as short
BingX HYPE-USDT+0.0100%4h93.513+0.174%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.484+0.143%$7.3M$10.6M20xas long as short
Variational Omni HYPElong+0.0100%8h93.351long leg$28.6M$56.3M—
GRVT HYPE_USDT_Perp+0.0100%4h93.365+0.016%$7.5M$47.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.331−0.021%$342K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.336−0.016%$668K$2.9M20xas long as short
Vest HYPE-PERP+0.0100%1h93.522+0.184%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.512+0.173%$484K$2.7M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.383+0.035%$79K$166K20xas long as short
Derive HYPE-PERP+0.0100%1h93.372+0.023%$16.1M$7.5M10xas long as short
SunX HYPE-USDT+0.0100%4h93.385+0.037%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.402+0.055%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h93.600+0.267%$1.4M$6.5M75xas long as short
Bulk HYPE-USD+0.0100%1h93.344−0.007%$215K$15K10xas long as short
Extended HYPE-USD+0.0104%1h93.453+0.110%$18.1M$43.2M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.398+0.051%$395K$161K20xas long as short
Kalshi KXHYPEPERP+0.0112%8h93.470+0.128%$1.8M$5.7M2.3xas long as short
Injective HYPE/USDC PERP+0.0122%1h93.290−0.065%$30K$339K12xas long as short
Coinbase International HYPE-PERP-INTX+0.0144%1h93.490+0.149%$4.8M$5.6M50xas long as short
Reya HYPERUSDPERP+0.0269%1h93.495+0.155%$80K$131K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0154%1h93.526+0.188%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.342−0.009%$16.9M$11.9M75xas long as short
Kraken Futures PF_HYPEUSD+0.0341%1h93.479+0.138%$20.8M$29.6M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0424%1h93.487+0.146%$7.5M$4.0M50xas long as short
RISEx HYPE/USDC+0.0527%1h93.541+0.204%$3.2M$6.2M20xas long as short