HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0204%/8h= +22.3% APRnext payment +$0.26 per $10,000 · paid last 24h +0.026%

Price spread now: SoDEX against 01 Exchange+0.005%7-day average −0.030% · 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−$24as in the Price arb table

costs, in and out, $10k−$270.273% of the position

Long on 01 Exchange Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.034%+$3 on $10k

Price spread, last 3 days (all we have)−0.079%−$8 · spread now +0.005%, 7d avg −0.030%

Together, before fees−0.045%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and SoDEX is 0.035% dearer against 01 Exchange than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.030%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.034% in total (about 4.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.26 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	93.845	−0.0104	get 0.0013% / 1h	49m 10s	$85K	$364K	20x
Short	SoDEX HYPE-USD	93.850	0.0100	get 0.0013% / 1h	49m 10s	$2.0M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.005%Rate

Funding earned: $42.84
Price spread: +0.005% → −0.030%: $3.5
Slippage, 4 orders: −$12.29
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $19.05
Costs to cover: 0.273%
Break-even: 3.9 days

Slippage from 01 Exchange: live order book, 25 min ago; SoDEX: 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	0.16 bp	6.9 bp −$7	11.0 bp −$110	doesn't fit	doesn't fit
Sell SoDEX live order book, 5 min ago	0.05 bp	6.7 bp −$7	12.6 bp −$126	101.1 bp −$10.1K	doesn't fit

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	−0.1400%	1h	93.851	+0.006%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.744	−0.108%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0287%	1h	93.941	+0.102%	$22K	$23K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0165%	1h	93.850	+0.005%	$705K	$928K	10x	as long as short
Gate HYPE_USDT	−0.0118%	4h	93.829	−0.017%	$44.4M	$59.2M	75x	as long as short
01 Exchange HYPEUSDlong	−0.0104%	1h	93.845	long leg	$85K	$364K	20x
dYdX HYPE-USD	−0.0092%	1h	93.917	+0.076%	$128K	$29K	5x	as long as short
Bullet HYPE-USD	−0.0091%	1h	93.832	−0.014%	$113K	$580K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.841	−0.004%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0010%	4h	93.840	−0.005%	$169K	$594K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex HYPEUSDT	−0.0007%	8h	93.860	+0.016%	$12.8M	$2.6M	50x	as long as short
Derive HYPE-PERP	−0.0004%	1h	93.782	−0.068%	$16.4M	$7.2M	10x	as long as short
Bybit HYPEUSDT	−0.0003%	8h	93.821	−0.026%	$322.6M	$282.7M	75x	as long as short
Perpl HYPE	0.0000%	43m	93.843	−0.002%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.860	+0.016%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0014%	4h	93.830	−0.016%	$8.9M	$36.1M	300x	as long as short
Phoenix HYPE	+0.0034%	1h	93.829	−0.017%	$218K	$1.2M	10x	as long as short
edgeX HYPEUSDC	+0.0042%	4h	93.948	+0.110%	$5.1M	$29.8M	30x	as long as short
Binance HYPEUSDT	+0.0042%	4h	93.845	0.000%	$383.2M	$896.1M	75x	as long as short
MEXC HYPE_USDT	+0.0044%	4h	93.838	−0.007%	$88.2M	$82.0M	100x	as long as short
Bluefin HYPE-PERP	+0.0054%	1h	93.819	−0.028%	$76K	$171K	20x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	93.854	+0.010%	$61K	$1.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0082%	8h	93.830	−0.016%	$115.8M	$320.7M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.899	+0.057%	$18.8M	$58.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.869	+0.026%	$3.0M	$12.0M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.853	+0.009%	$399K	$191K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.892	+0.050%	$341K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.860	+0.016%	$39K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.834	−0.012%	$6.6M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.931	+0.092%	$2.04B	$675.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.868	+0.025%	$10.1M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.844	−0.001%	$46.5M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.854	+0.010%	$227.6M	$101.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.832	−0.014%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.872	+0.029%	$7.7M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.890	+0.048%	$31.3M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.981	+0.145%	$7.6M	$45.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.927	+0.087%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.887	+0.045%	$679K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.861	+0.017%	$479K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.912	+0.071%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USDshort	+0.0100%	1h	93.850	+0.005%	$2.0M	$2.0M	10x
Bulk HYPE-USD	+0.0100%	1h	93.944	+0.105%	$205K	$6K	10x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.880	+0.037%	—	$454K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.830	−0.016%	$18.4M	$42.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.860	+0.016%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0170%	4h	93.848	+0.003%	$17.0M	$12.3M	75x	as long as short
Kalshi KXHYPEPERP	+0.0171%	8h	93.930	+0.091%	$1.9M	$5.1M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.760	−0.091%	$30K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.893	+0.051%	$2.8M	$6.8M	20x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	93.838	−0.008%	$79K	$146K	15x	as long as short
HTX HYPE-USDT	+0.0330%	4h	94.050	+0.218%	$1.5M	$6.7M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0157%	1h	93.867	+0.023%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0357%	1h	93.940	+0.101%	$7.5M	$4.7M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0672%	1h	93.939	+0.100%	$21.0M	$29.8M	50x	as long as short