HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0213%/8h= −23.3% APRnext payment −$0.27 per $10,000 · paid last 24h −0.025%

Price spread now: Ondo Perps against Vest−0.049%50s7-day average −0.083% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Vest Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.051%+$5 on $10k

Price spread, last 4 days (all we have)−0.503%−$50 · spread now −0.049%, 7d avg −0.083%

Together, before fees−0.452%+ Points / potential airdropVest: Active · Ondo Perps: Active · farm board−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.034% dearer against Vest than usual: you sell high and buy low (spread −0.049% now, against its 7-day average of −0.083%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 13 hours. Mind the row above: over the last 3 days funding on this pair paid +0.051%, so the current rate has only just turned against you. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.051% in total (about 5.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.27 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest HYPE-PERP	93.366	0.0100	pay 0.0013% / 1h	27m 37s	—	$243K	5x
Short	Ondo Perps HYPE-USD.P	93.320	−0.0113	pay 0.0014% / 1h	27m 37s	$699K	$996K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Vest. 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

Position, each leg$Hold fordaysFee VestbpFee Ondo PerpsbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$44.69
Price spread: −0.049% → −0.083%: $3.42
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$48.27
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Ondo Perps: 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Vest no order-book sample	—	—	—	—	—
Sell Ondo Perps no order-book sample	—	—	—	—	—

Vest and Ondo Perps: 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-P	−0.1280%	1h	93.345	−0.022%	$197K	$227K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.150	−0.231%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.Pshort	−0.0113%	1h	93.320	−0.049%	$699K	$996K	10x
Hotstuff HYPE-PERP	−0.0080%	1h	93.305	−0.065%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.246	−0.128%	$85K	$344K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0050%	1h	93.421	+0.060%	$22K	$21K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0044%	4h	93.269	−0.103%	$153K	$652K	20x	as long as short
Phemex HYPEUSDT	−0.0044%	8h	93.291	−0.080%	$12.6M	$2.7M	50x	as long as short
Bullet HYPE-USD	−0.0007%	1h	93.305	−0.065%	$111K	$578K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.309	−0.060%	$128K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.302	−0.068%	$23K	$319K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.324	−0.045%	$62K	—	150x	as long as short
Aster HYPEUSDT	+0.0020%	4h	93.262	−0.111%	$8.8M	$35.5M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.609	+0.261%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0032%	4h	93.252	−0.122%	—	$53.0M	—	as long as short
Bybit HYPEUSDT	+0.0039%	8h	93.250	−0.124%	$320.7M	$276.9M	75x	as long as short
Gate HYPE_USDT	+0.0058%	4h	93.248	−0.126%	$44.6M	$55.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0075%	8h	93.239	−0.136%	$114.0M	$301.0M	50x	as long as short
Derive HYPE-PERP	+0.0083%	1h	93.258	−0.115%	$16.2M	$7.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.287	−0.084%	$16.2M	$61.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.276	−0.096%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.244	−0.130%	$69K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.289	−0.082%	$339K	$162K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.260	−0.113%	$17K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.299	−0.072%	$5.8M	$43.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.331	−0.037%	$2.04B	$654.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.278	−0.094%	$10.0M	$14.7M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.250	−0.124%	$378.3M	$876.5M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.364	−0.002%	$203K	$10K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.250	−0.124%	$89.7M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.281	−0.091%	$45.9M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.247	−0.127%	$225.4M	$96.5M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.278	−0.094%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.546	+0.193%	$31.2M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.614	+0.267%	$7.6M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.581	+0.231%	$340K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.415	+0.053%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERPlong	+0.0100%	1h	93.366	long leg	—	$243K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	93.333	−0.035%	$471K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.261	−0.112%	$79K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.345	−0.022%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.279	−0.093%	$2.0M	$1.9M	10x	as long as short
edgeX HYPEUSDC	+0.0102%	4h	93.459	+0.100%	$5.1M	$29.7M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.232	−0.144%	$18.4M	$43.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.280	−0.092%	$397K	$162K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.350	−0.017%	$4.8M	$5.5M	50x	as long as short
HTX HYPE-USDT	+0.0176%	4h	93.447	+0.087%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0258%	1h	93.299	−0.072%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0280%	8h	93.348	−0.019%	$1.9M	$5.0M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.328	−0.041%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.339	−0.028%	$16.9M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0468%	1h	93.379	+0.014%	$7.4M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.334	−0.034%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.280	−0.092%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.348	−0.019%	$20.7M	$29.7M	50x	as long as short