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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 01:00 UTC−0.0036%/8h= −3.9% APRnext payment −$0.05 per $10,000 · paid last 24h +0.015%
Price spread now: Phoenix against Aevo+0.121%7-day average +0.079% · you sell dearer than you buy
Net, funding: paid 7d − costs−$19as in the Funding arb table
Net, price: spread back to 7d avg − costs−$40as in the Price arb table
costs, in and out, $10k−$440.441% of the position
Long on AevoShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.249%+$25 on $10k
Price spread, last 3 days (all we have)−0.072%−$7 · spread now +0.121%, 7d avg +0.079%
Together, before fees+0.176%+$18 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phoenix is 0.042% dearer against Aevo than usual: you sell high and buy low (spread +0.121% now, against its 7-day average of +0.079%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.9 days. Mind the row above: over the last 7 days funding on this pair paid +0.249%, so the current rate has only just turned against you.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAevo HYPE-PERP93.7710.0096pay 0.0012% / 1h20m 48s$399K$175K20x
ShortPhoenix HYPE93.8850.0060get 0.0007% / 1h20m 48s$213K$1.2M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix 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

Funding earned
−$7.57
Price spread: +0.121% → +0.079%
$4.2
Slippage, 4 orders
−$21.08
Fee Aevo: 8 bp × 2 orders
−$16
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$47.46
Costs to cover
0.441%
Break-even
never at this rate
Slippage from Aevo: live order book, 48 min ago; Phoenix: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Aevo live order book, 48 min ago7.76 bp17.2 bp −$1723.0 bp −$23026.4 bp −$2,639doesn't fit
Sell Phoenix live order book, 2 min ago0.05 bp4.6 bp −$58.3 bp −$83116.1 bp −$11.6Kdoesn't fit

HYPE on 54 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1016%1h93.763−0.009%$197K$229K7xas long as short
Arcus HYPE-USD−0.0786%1h93.685−0.092%$1.2M$3.8M10xas long as short
Phemex HYPEUSDT−0.0131%8h93.796+0.026%$12.7M$2.7M50xas long as short
Aftermath Perps HYPEUSD−0.0117%1h93.844+0.077%$22K$21K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.815+0.047%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0079%1h93.850+0.084%$702K$924K10xas long as short
Orderly PERP_HYPE_USDC−0.0056%4h93.741−0.032%$156K$646K20xas long as short
01 Exchange HYPEUSD−0.0048%1h93.797+0.027%$85K$350K20xas long as short
Backpack HYPE_USDC_PERP−0.0035%1h93.706−0.070%$7.8M$10.3M20xas long as short
Gate HYPE_USDT−0.0028%4h93.724−0.051%$44.4M$55.1M75xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT−0.0001%4h93.753−0.020%$8.8M$35.8M300xas long as short
dYdX HYPE-USD0.0000%1h93.833+0.066%$129K$31K5xas long as short
Perpl HYPE0.0000%43m93.810+0.041%$22K$326K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.809+0.040%$26K—150xas long as short
Bybit HYPEUSDT+0.0003%8h93.705−0.071%$321.8M$281.0M75xas long as short
BingX HYPE-USDT+0.0004%4h93.731−0.043%—$53.6M—as long as short
Phoenix HYPEshort+0.0060%1h93.885+0.121%$213K$1.2M10x
MEXC HYPE_USDT+0.0068%4h93.721−0.054%$89.0M$83.1M100xas long as short
OKX HYPE-USDT-SWAP+0.0068%8h93.710−0.065%$115.2M$307.8M50xas long as short
Binance HYPEUSDT+0.0069%4h93.722−0.053%$381.1M$891.3M75xas long as short
Bullet HYPE-USD+0.0070%1h93.781+0.010%$112K$577K20xas long as short
edgeX HYPEUSDC+0.0088%4h93.822+0.054%$5.1M$29.9M30xas long as short
Paradex HYPE-USD-PERP+0.0096%8h93.839+0.072%$341K$164K20xas long as short
Lighter HYPE+0.0096%1h93.778+0.007%$16.4M$62.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.782+0.011%$3.1M$11.9M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.787+0.017%$67K$1.2M50xas long as short
Aevo HYPE-PERPlong+0.0096%1h93.771long leg$399K$175K20x
Katana Perps HYPE-USD+0.0100%8h93.830+0.063%$21K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.803+0.034%$5.8M$44.7M10xas long as short
Hyperliquid HYPE+0.0100%1h93.834+0.067%$2.05B$665.6M10xas long as short
Pacifica HYPE+0.0100%1h93.828+0.060%$10.1M$14.7M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.752−0.021%$46.4M$18.0M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.726−0.048%$227.1M$98.4M75xas long as short
Variational Omni HYPE+0.0100%8h93.748−0.025%$31.1M$54.6M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.837+0.070%$7.6M$47.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.823+0.055%$339K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.887+0.123%$670K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.854+0.088%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.820+0.052%$474K$2.4M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.739−0.035%$79K$171K20xas long as short
Derive HYPE-PERP+0.0100%1h93.748−0.025%$16.3M$7.7M10xas long as short
SunX HYPE-USDT+0.0100%4h93.881+0.117%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.761−0.011%$2.0M$1.9M10xas long as short
Bulk HYPE-USD+0.0100%1h93.880+0.116%$204K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.690−0.087%$18.3M$44.2M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.870+0.105%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.740−0.033%$30K$339K12xas long as short
HTX HYPE-USDT+0.0200%4h93.950+0.190%$1.4M$5.9M75xas long as short
RISEx HYPE/USDC+0.0210%1h93.887+0.124%$3.2M$7.0M20xas long as short
Reya HYPERUSDPERP+0.0255%1h93.776+0.005%$80K$140K15xas long as short
Kalshi KXHYPEPERP+0.0278%8h93.829+0.061%$1.9M$4.9M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0156%1h93.799+0.030%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0368%1h93.863+0.098%$7.4M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0680%1h93.838+0.071%$21.0M$29.8M50xas long as short