HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0444%/8h= +48.6% APRnext payment +$0.56 per $10,000 · paid last 24h +0.068%

Price spread now: Kraken Futures against 01 Exchange+0.043%7-day average +0.013% · 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−$28as in the Price arb table

costs, in and out, $10k−$310.313% of the position

Long on 01 Exchange Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.109%+$11 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now +0.043%, 7d avg +0.013%

Together, before fees+0.019%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Kraken Futures is 0.030% dearer against 01 Exchange than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.013%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.109% in total (about 10.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.56 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	01 Exchange HYPEUSD	94.314	−0.0032	get 0.0004% / 1h	18m 44s	$86K	$367K	20x
Short	Kraken Futures PF_HYPEUSD	94.354	0.0412	get 0.0052% / 1h	18m 44s	$20.2M	$30.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against 01 Exchange. 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

Position, each leg$Hold fordaysFee 01 ExchangebpFee Kraken FuturesbpOrdersPrice spread, now +0.043%Rate

Funding earned: $93.28
Price spread: +0.043% → +0.013%: $2.99
Slippage, 4 orders: −$14.34
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $64.93
Costs to cover: 0.313%
Break-even: 2.1 days

Slippage from 01 Exchange: live order book, 25 min ago; Kraken Futures: live order book, 5 min ago.

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 01 Exchange live order book, 25 min ago	0.05 bp	6.3 bp −$6	10.4 bp −$104	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	1.27 bp	8.9 bp −$9	12.0 bp −$120	18.4 bp −$1,838	67.4 bp −$33.7K

HYPE on 54 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	−0.1072%	1h	94.168	−0.155%	$200K	$237K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0186%	1h	94.134	−0.191%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.264	−0.053%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0063%	1h	94.140	−0.184%	$709K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0059%	1h	94.278	−0.038%	$112K	$579K	20x	as long as short
01 Exchange HYPEUSDlong	−0.0032%	1h	94.314	long leg	$86K	$367K	20x
Orderly PERP_HYPE_USDC	−0.0014%	4h	94.259	−0.058%	$146K	$686K	20x	as long as short
Bluefin HYPE-PERP	−0.0004%	1h	94.282	−0.034%	$80K	$155K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.292	−0.023%	$129K	$26K	5x	as long as short
Bybit HYPEUSDT	0.0000%	8h	94.350	+0.038%	$317.6M	$289.2M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	94.265	−0.052%	$19K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.290	−0.025%	$84K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.378	+0.068%	$207K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0052%	4h	94.365	+0.054%	$227.4M	$99.3M	75x	as long as short
Phemex HYPEUSDT	+0.0058%	8h	94.228	−0.091%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0078%	8h	94.318	+0.005%	$337K	$157K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.249	−0.069%	$1.0M	$4.0M	10x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	94.344	+0.032%	$5.0M	$30.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.362	+0.050%	$16.3M	$64.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.375	+0.065%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.259	−0.058%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.270	−0.047%	$17K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.258	−0.059%	$7.5M	$50.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.467	+0.162%	$2.08B	$687.1M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.338	+0.025%	$8.9M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.297	−0.018%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.338	+0.026%	$377.4M	$933.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.354	+0.042%	$116.3M	$317.2M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.327	+0.014%	$49.0M	$56.5M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.340	+0.028%	$89.9M	$85.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.336	+0.023%	$46.9M	$18.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.356	+0.045%	—	$53.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.308	−0.006%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.229	−0.091%	$29.0M	$56.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.424	+0.117%	$7.6M	$48.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.205	−0.116%	$362K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.221	−0.099%	$682K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.344	+0.032%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.287	−0.029%	$498K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.311	−0.003%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.291	−0.024%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.409	+0.101%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.275	−0.041%	$218K	$15K	10x	as long as short
Kalshi KXHYPEPERP	+0.0101%	8h	94.333	+0.020%	$1.8M	$5.6M	2.3x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.282	−0.034%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.306	−0.008%	$399K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.330	+0.017%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.326	+0.013%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.610	+0.314%	$31K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0227%	1h	94.370	+0.059%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.249	−0.069%	$78K	$129K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.278	−0.038%	$16.9M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSDshort	+0.0412%	1h	94.354	+0.043%	$20.2M	$30.4M	50x
RISEx HYPE/USDC	+0.0559%	1h	94.310	−0.004%	$3.2M	$6.4M	20x	as long as short