HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0212%/8h= −23.2% APRnext payment −$0.26 per $10,000 · paid last 24h −0.046%

Price spread now: 01 Exchange against Bluefin+0.003%7-day average +0.033% · 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−$50as in the Price arb table

costs, in and out, $10k−$470.473% of the position

Long on Bluefin Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.163%+$16 · spread now +0.003%, 7d avg +0.033%

Together, before fees+0.175%+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and 01 Exchange is 0.029% cheaper against Bluefin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.033%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.012% in total (about 1.2% 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	Bluefin HYPE-PERP	92.354	0.0100	pay 0.0013% / 1h	39m 33s	$78K	$169K	20x
Short	01 Exchange HYPEUSD	92.357	−0.0112	pay 0.0014% / 1h	39m 33s	$87K	$356K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against Bluefin. 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 BluefinbpFee 01 ExchangebpOrdersPrice spread, now +0.003%Rate

Funding earned: −$44.52
Price spread: +0.003% → +0.033%: −$2.93
Slippage, 4 orders: −$33.31
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$94.75
Costs to cover: 0.473%
Break-even: never at this rate

Slippage from Bluefin: live order book, 20 min ago; 01 Exchange: live order book, 20 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 Bluefin live order book, 20 min ago	4.21 bp	17.4 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell 01 Exchange live order book, 20 min ago	0.05 bp	7.1 bp −$7	11.1 bp −$111	doesn't fit	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
Arcus HYPE-USD	−0.0948%	1h	92.225	−0.140%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0472%	1h	92.299	−0.060%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0170%	1h	92.346	−0.009%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSDshort	−0.0112%	1h	92.357	+0.003%	$87K	$356K	20x
Hotstuff HYPE-PERP	−0.0080%	1h	92.370	+0.017%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0070%	4h	92.353	−0.001%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0054%	1h	92.361	+0.008%	$110K	$579K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.401	+0.051%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.400	+0.050%	$22K	$310K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.387	+0.036%	$61K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0003%	4h	92.378	+0.026%	$8.7M	$36.4M	300x	as long as short
Ondo Perps HYPE-USD.P	+0.0008%	1h	92.300	−0.058%	$695K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0030%	4h	92.345	−0.010%	—	$53.3M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.246	−0.117%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0054%	8h	92.330	−0.026%	$315.8M	$281.3M	75x	as long as short
Phemex HYPEUSDT	+0.0054%	8h	92.392	+0.041%	$12.5M	$2.7M	50x	as long as short
Gate HYPE_USDT	+0.0060%	4h	92.342	−0.013%	$44.3M	$54.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0079%	8h	92.343	−0.012%	$112.9M	$302.2M	50x	as long as short
MEXC HYPE_USDT	+0.0080%	4h	92.358	+0.004%	$87.1M	$80.5M	100x	as long as short
Derive HYPE-PERP	+0.0084%	1h	92.342	−0.013%	$16.0M	$7.5M	10x	as long as short
Binance HYPEUSDT	+0.0085%	4h	92.343	−0.012%	$370.2M	$900.5M	75x	as long as short
edgeX HYPEUSDC	+0.0089%	4h	92.287	−0.072%	$4.9M	$29.5M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0092%	8h	92.406	+0.057%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.386	+0.035%	$16.0M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.381	+0.029%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.327	−0.029%	$68K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.340	−0.015%	$39K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.385	+0.034%	$6.7M	$44.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.424	+0.076%	$2.01B	$663.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.387	+0.036%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.245	−0.118%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.384	+0.032%	$45.8M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.333	−0.023%	$224.0M	$98.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.360	+0.006%	$7.3M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.258	−0.104%	$28.3M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.315	−0.043%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.289	−0.070%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.275	−0.086%	$662K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.404	+0.054%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.390	+0.039%	$475K	$2.6M	20x	as long as short
Bluefin HYPE-PERPlong	+0.0100%	1h	92.354	long leg	$78K	$169K	20x
SunX HYPE-USDT	+0.0100%	4h	92.408	+0.058%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.368	+0.015%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.515	+0.174%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.302	−0.056%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.371	+0.018%	$391K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.699%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.420	+0.071%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0255%	8h	92.401	+0.051%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.369	+0.016%	$79K	$138K	15x	as long as short
BloFin HYPE-USDT	+0.0321%	4h	92.305	−0.053%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.374	+0.021%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0333%	1h	92.439	+0.092%	$20.5M	$30.5M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0453%	1h	92.470	+0.126%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.412	+0.063%	$3.1M	$6.4M	20x	as long as short