HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0382%/8h= −41.8% APRnext payment −$0.48 per $10,000 · paid last 24h −0.023%

Price spread now: Bullet against Aevo+0.026%7-day average +0.004% · 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−$213as in the Price arb table

costs, in and out, $10k−$2152.149% of the position

Long on Aevo Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.031%−$3 on $10k

Price spread, last 4 days (all we have)+0.074%+$7 · spread now +0.026%, 7d avg +0.004%

Together, before fees+0.043%+$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bullet is 0.022% dearer against Aevo than usual: you sell high and buy low (spread +0.026% now, against its 7-day average of +0.004%): +$2 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 4 days (−0.031% in total) that is about 2.6 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.031% in total (about -3.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.48 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo HYPE-PERP	95.150	0.0104	pay 0.0013% / 1h	0m 46s	$402K	$130K	20x
Short	Bullet HYPE-USD	95.174	−0.0278	pay 0.0035% / 1h	0m 46s	$115K	$581K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Aevo. 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 AevobpFee BulletbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$80.21
Price spread: +0.026% → +0.004%: $2.2
Slippage, 4 orders: −$190.9
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$292.9
Costs to cover: 2.149%
Break-even: never at this rate

Slippage from Aevo: live order book, 51 min ago; Bullet: live order book, 51 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 Aevo live order book, 51 min ago	78.06 bp	110.0 bp −$110	119.9 bp −$1,199	doesn't fit	doesn't fit
Sell Bullet live order book, 51 min ago	0.37 bp	6.9 bp −$7	10.8 bp −$108	doesn't fit	doesn't fit

HYPE on 54 exchanges

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	−0.1360%	1h	95.056	−0.098%	$212K	$261K	7x	as long as short
Bluefin HYPE-PERP	−0.0381%	1h	95.188	+0.040%	$79K	$136K	20x	as long as short
Kraken Futures PF_HYPEUSD	−0.0376%	1h	95.185	+0.038%	$18.6M	$35.3M	50x	as long as short
Bullet HYPE-USDshort	−0.0278%	1h	95.174	+0.026%	$115K	$581K	20x
Phemex HYPEUSDT	−0.0263%	8h	95.121	−0.030%	$13.0M	$2.5M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0206%	1h	95.070	−0.084%	$690K	$1.3M	10x	as long as short
Arcus HYPE-USD	−0.0159%	1h	95.139	−0.011%	$1.1M	$2.4M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0131%	1h	95.134	−0.017%	$22K	$17K	10x	as long as short
01 Exchange HYPEUSD	−0.0128%	1h	95.165	+0.016%	$92K	$347K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.138	−0.012%	$3K	$331	25x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0074%	4h	95.221	+0.075%	$54.6M	$55.0M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0039%	4h	95.152	+0.003%	$148K	$645K	20x	as long as short
Aster HYPEUSDT	−0.0025%	4h	95.217	+0.071%	$9.0M	$33.1M	300x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0024%	1h	95.220	+0.074%	$4.7M	$5.5M	50x	as long as short
OKX HYPE-USDT-SWAP	−0.0008%	8h	95.215	+0.069%	$119.2M	$305.0M	50x	as long as short
Lighter HYPE	−0.0008%	1h	95.223	+0.077%	$16.3M	$61.3M	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	95.182	+0.034%	$129K	$94K	5x	as long as short
Perpl HYPE	0.0000%	43m	95.169	+0.020%	$24K	$254K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.216	+0.070%	$100K	—	150x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0012%	1h	95.270	+0.127%	$7.5M	$4.3M	50x	as long as short
Bulk HYPE-USD	+0.0016%	1h	95.192	+0.045%	$232K	$12K	10x	as long as short
Phoenix HYPE	+0.0017%	1h	95.204	+0.057%	$201K	$1.0M	10x	as long as short
Bitget HYPEUSDT	+0.0022%	4h	95.233	+0.088%	$228.9M	$87.3M	75x	as long as short
Vest HYPE-PERP	+0.0027%	1h	95.204	+0.057%	—	$80K	5x	as long as short
Bybit HYPEUSDT	+0.0031%	8h	95.234	+0.089%	$321.6M	$267.4M	75x	as long as short
SoDEX HYPE-USD	+0.0035%	1h	95.180	+0.032%	$2.1M	$373K	10x	as long as short
Paradex HYPE-USD-PERP	+0.0071%	8h	95.140	−0.010%	$340K	$35K	20x	as long as short
edgeX HYPEUSDC	+0.0082%	4h	95.128	−0.023%	$5.1M	$29.5M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.240	+0.095%	$3.3M	$10.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.154	+0.005%	$274K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.100	−0.052%	$39K	$1.5M	10x	as long as short
Binance HYPEUSDT	+0.0099%	4h	95.229	+0.083%	$382.7M	$859.4M	75x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.125	−0.026%	$7.3M	$52.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.320	+0.179%	$2.11B	$649.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.182	+0.034%	$10.3M	$13.5M	20x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	95.237	+0.092%	$91.3M	$88.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.217	+0.071%	$48.1M	$17.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.245	+0.100%	—	$48.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.263	+0.119%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.183	+0.035%	$29.9M	$53.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.108	−0.044%	$7.7M	$40.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.180	+0.032%	$347K	$892K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.046	−0.109%	$691K	$2.8M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.189	+0.041%	$504K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.242	+0.097%	$32K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.300	+0.158%	$1.4M	$5.5M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.197	+0.050%	$18.4M	$40.1M	50x	as long as short
Aevo HYPE-PERPlong	+0.0104%	1h	95.150	long leg	$402K	$130K	20x
Kalshi KXHYPEPERP	+0.0120%	8h	95.203	+0.056%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0166%	1h	95.198	+0.050%	$3.1M	$5.5M	20x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	95.071	−0.083%	$86K	$100K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.207	+0.060%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.173	+0.025%	$17.3M	$11.6M	75x	as long as short
Injective HYPE/USDC PERP	+0.0850%	1h	95.400	+0.263%	$31K	$335K	12x	as long as short