HYPE

Alert

Funding spread now, next payment 15:00 UTC+0.0257%/8h

paid, last 24h+0.006%paid, last 3 days+0.387%to open and closeno order book

Long on Variational Omni Short on Phoenix

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni HYPE	93.331	0.0100	pay 0.0100% / 8h	8m 19s	$29.8M	$51.6M	—
Short	Phoenix HYPE	93.474	0.0357	get 0.0045% / 1h	8m 19s	$296K	$1.1M	10x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee PhoenixbpOrdersRate

Funding earned: $53.92
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $46.92
Break-even: 0.9 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Phoenix: live order book, 1 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.153%
Avg gap 7d: +0.133%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Variational Omni RFQ quote, 2 min ago	0.45 bp	doesn't fit	6.1 bp −$61	15.6 bp −$1,558	doesn't fit
Sell Phoenix live order book, 1 min ago	1.28 bp	5.8 bp −$6	11.2 bp −$112	129.0 bp −$12.9K	doesn't fit

HYPE on 54 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0094%	4h	$170K	$373K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	$3K	$307	25x	as long as short
BingX HYPE-USDT	−0.0012%	4h	—	$52.1M	—	as long as short
Bybit HYPEUSDT	−0.0012%	8h	$327.7M	$284.4M	75x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	$19K	—	150x	as long as short
OKX HYPE-USDT-SWAP	+0.0019%	8h	$115.9M	$314.5M	50x	as long as short
dYdX HYPE-USD	+0.0089%	1h	$127K	$26K	5x	as long as short
Lighter RH HYPE	+0.0096%	1h	$3.2M	$12.0M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	$156K	$1.1M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0096%	1h	$5.0M	$5.3M	50x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Katana Perps HYPE-USD	+0.0099%	8h	$39K	$1.8M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	$5.7M	$42.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	$8.9M	$35.8M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	$11.4M	$12.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	$397.0M	$831.7M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	$699K	$975K	10x	as long as short
Arcus HYPE-USD	+0.0100%	1h	$1.2M	$4.1M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	$211K	$10K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	$44.5M	$55.7M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	$97.8M	$87.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	$44.0M	$20.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	$228.9M	$101.0M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	$8.4M	$9.1M	20x	as long as short
Variational Omni HYPElong	+0.0100%	8h	$29.8M	$51.6M	—
ApeX Omni HYPEUSDT	+0.0100%	1h	$426K	$964K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	$708K	$2.1M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	—	$407K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	$462K	$2.4M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	$112K	$578K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	$73K	$196K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	$16.5M	$7.2M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	$2.0M	$1.9M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	$12.7M	$2.3M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	$18.4M	$42.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	$398K	$340K	20x	as long as short
edgeX HYPEUSDC	+0.0112%	4h	$5.1M	$27.8M	30x	as long as short
Kalshi KXHYPEPERP	+0.0126%	8h	$1.6M	$4.5M	2.3x	as long as short
Paradex HYPE-USD-PERP	+0.0135%	8h	$337K	$288K	20x	as long as short
01 Exchange HYPEUSD	+0.0144%	1h	$89K	$310K	20x	as long as short
Hibachi HYPE/USDT-P	+0.0168%	1h	$207K	$196K	7x	as long as short
Hyperliquid HYPE	+0.0202%	1h	$2.02B	$604.2M	10x	as long as short
Lighter HYPE	+0.0216%	1h	$18.7M	$58.6M	20x	as long as short
Aftermath Perps HYPEUSD	+0.0222%	1h	$22K	$35K	10x	as long as short
Perpl HYPE	+0.0223%	43m	$32K	$340K	10x	as long as short
Reya HYPERUSDPERP	+0.0225%	1h	$73K	$166K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0295%	1h	$7.4M	$4.6M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	$17.9M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0348% / S −0.0165%	1h	$1.5M	—	100x	as long as short
Phoenix HYPEshort	+0.0357%	1h	$296K	$1.1M	10x
HTX HYPE-USDT	+0.0456%	4h	$1.5M	$6.8M	75x	as long as short
RISEx HYPE/USDC	+0.0500%	1h	$2.6M	$7.3M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0609%	1h	$16.5M	$21.3M	50x	as long as short
Injective HYPE/USDC PERP	+0.1001%	1h	$23K	$320K	12x	as long as short