HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h +0.008%

Price spread now: Phoenix against ApeX Omni+0.095%7-day average +0.112% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$300.304% of the position

Long on ApeX Omni Short 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 7 days+0.062%+$6 · spread now +0.095%, 7d avg +0.112%

Together, before fees+0.310%+$31 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.112%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. 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.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni HYPEUSDT	94.028	0.0100	pay 0.0013% / 1h	19m 06s	$369K	$1.0M	50x
Short	Phoenix HYPE	94.117	0	get 0.0000% / 1h	19m 06s	$208K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against ApeX Omni. 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 ApeX OmnibpFee PhoenixbpOrdersPrice spread, now +0.095%Rate

Funding earned: −$21
Price spread: +0.095% → +0.112%: −$1.71
Slippage, 4 orders: −$13.4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$53.11
Costs to cover: 0.304%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 5 min ago; Phoenix: live order book, 4 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 ApeX Omni live order book, 5 min ago	3.46 bp	9.8 bp −$10	13.2 bp −$132	doesn't fit	doesn't fit
Sell Phoenix live order book, 4 min ago	1.17 bp	5.6 bp −$6	9.5 bp −$95	111.5 bp −$11.1K	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	−0.1712%	1h	94.057	+0.031%	$202K	$255K	7x	as long as short
Bluefin HYPE-PERP	−0.0406%	1h	94.325	+0.316%	$80K	$152K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0218%	1h	94.190	+0.172%	$710K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0214%	1h	94.332	+0.323%	$111K	$577K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0147%	1h	94.196	+0.179%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.369	+0.363%	$88K	$367K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.153	+0.133%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0080%	1h	93.964	−0.068%	$16.4M	$7.5M	10x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.300	+0.289%	$1.0M	$3.6M	10x	as long as short
Lighter HYPE	−0.0040%	1h	94.351	+0.343%	$16.4M	$64.5M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	−0.0020%	4h	94.412	+0.408%	—	$52.9M	—	as long as short
Bybit HYPEUSDT	−0.0019%	8h	94.400	+0.396%	$317.3M	$289.3M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0009%	4h	94.327	+0.318%	$147K	$686K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.225	+0.210%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.348	+0.340%	$1.8M	$5.6M	2.3x	as long as short
Phoenix HYPEshort	0.0000%	1h	94.117	+0.095%	$208K	$1.1M	10x
Perpl HYPE	0.0000%	43m	94.314	+0.304%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.364	+0.357%	$124K	—	150x	as long as short
Polymarket Perps HYPE-USD	+0.0002%	1h	94.348	+0.340%	$497K	$2.8M	20x	as long as short
Bitget HYPEUSDT	+0.0028%	4h	94.394	+0.389%	$226.8M	$100.1M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0031%	8h	94.319	+0.310%	$337K	$154K	20x	as long as short
Vest HYPE-PERP	+0.0039%	1h	94.350	+0.342%	—	$190K	5x	as long as short
Phemex HYPEUSDT	+0.0041%	8h	94.344	+0.336%	$12.9M	$2.9M	50x	as long as short
SoDEX HYPE-USD	+0.0043%	1h	94.355	+0.348%	$2.1M	$1.9M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.360	+0.353%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0065%	8h	94.420	+0.417%	$117.7M	$325.3M	50x	as long as short
Gate HYPE_USDT	+0.0092%	4h	94.402	+0.398%	$50.2M	$56.8M	75x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	93.993	−0.037%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.376	+0.370%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.325	+0.316%	$81K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.280	+0.268%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.275	+0.263%	$7.2M	$53.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.469	+0.469%	$2.08B	$687.8M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.400	+0.395%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.313	+0.303%	$10.2M	$15.0M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.405	+0.401%	$378.5M	$933.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.307	+0.297%	$218K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.424	+0.421%	$89.0M	$84.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.380	+0.374%	$46.9M	$18.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.378	+0.372%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.079	+0.054%	$29.4M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.093	+0.069%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDTlong	+0.0100%	1h	94.028	long leg	$369K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	94.093	+0.069%	$680K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.341	+0.333%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.500	+0.502%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.324	+0.315%	$18.3M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.309	+0.299%	$399K	$154K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0022%	1h	94.411	+0.407%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.740	+0.757%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0195%	1h	94.434	+0.432%	$7.4M	$4.3M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.387	+0.382%	$20.2M	$30.2M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.344	+0.336%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.311	+0.301%	$85K	$120K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.362	+0.355%	$17.2M	$12.4M	75x	as long as short