HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0725%/8h= −79.4% APRnext payment −$0.91 per $10,000 · paid last 24h −0.050%

Price spread now: Arcus against Bulk−0.210%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$170.167% of the position

Long on Bulk Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.075%−$8 on $10k

Price spread, last 4 days (all we have)+0.313%+$31 · spread now −0.210%, 7d avg −0.067%

Together, before fees+0.237%+$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Arcus is 0.144% cheaper against Bulk than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.067%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.075% in total (about -8.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.91 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	Bulk HYPE-USD	93.944	0.0100	pay 0.0013% / 1h	56m 13s	$205K	$6K	10x
Short	Arcus HYPE-USD	93.746	−0.0625	pay 0.0078% / 1h	56m 13s	$1.2M	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bulk. 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 BulkbpFee ArcusbpOrdersPrice spread, now −0.210%Rate

Funding earned: −$152.28
Price spread: −0.210% → −0.067%: −$14.36
Slippage, 4 orders: −$5.18
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$183.32
Costs to cover: 0.167%
Break-even: never at this rate

Slippage from Bulk: live order book, 18 min ago; Arcus: live order book, 3 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 Bulk live order book, 18 min ago	0.53 bp	4.0 bp −$4	5.9 bp −$59	12.3 bp −$1,232	35.8 bp −$17.9K
Sell Arcus live order book, 3 min ago	0.64 bp	3.4 bp −$3	5.0 bp −$50	221.4 bp −$22.1K	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	−0.1432%	1h	93.897	−0.050%	$199K	$228K	7x	as long as short
Arcus HYPE-USDshort	−0.0625%	1h	93.746	−0.210%	$1.2M	$3.8M	10x
Aftermath Perps HYPEUSD	−0.0322%	1h	93.973	+0.031%	$22K	$22K	10x	as long as short
dYdX HYPE-USD	−0.0239%	1h	93.914	−0.032%	$128K	$30K	5x	as long as short
Bybit HYPEUSDT	−0.0123%	8h	93.840	−0.110%	$322.8M	$283.5M	75x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	93.843	−0.107%	$86K	$365K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0095%	1h	93.830	−0.121%	$705K	$923K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.868	−0.081%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0075%	1h	93.825	−0.127%	$112K	$579K	20x	as long as short
Gate HYPE_USDT	−0.0062%	4h	93.821	−0.131%	$44.6M	$58.7M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Derive HYPE-PERP	−0.0013%	1h	93.778	−0.176%	$16.4M	$7.2M	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0008%	4h	93.829	−0.122%	$169K	$594K	20x	as long as short
Perpl HYPE	0.0000%	43m	93.879	−0.069%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.860	−0.089%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	94.114	+0.181%	$218K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.839	−0.111%	$8.9M	$36.1M	300x	as long as short
Popdex HYPEUSDT	+0.0040%	1h	93.835	−0.116%	$60K	$1.2M	50x	as long as short
MEXC HYPE_USDT	+0.0042%	4h	93.828	−0.123%	$88.0M	$81.8M	100x	as long as short
Binance HYPEUSDT	+0.0043%	4h	93.845	−0.105%	$383.4M	$897.9M	75x	as long as short
edgeX HYPEUSDC	+0.0054%	4h	93.988	+0.047%	$5.1M	$29.7M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0086%	8h	93.855	−0.094%	$115.8M	$321.8M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.897	−0.050%	$18.8M	$58.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.876	−0.072%	$3.1M	$12.0M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.904	−0.042%	$399K	$268K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.903	−0.043%	$341K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.860	−0.089%	$42K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.835	−0.115%	$6.6M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.946	+0.003%	$2.04B	$680.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.871	−0.077%	$10.1M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.838	−0.112%	$46.5M	$18.5M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.862	−0.087%	$227.4M	$101.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.833	−0.118%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.913	−0.033%	$7.7M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.832	−0.118%	$31.2M	$54.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.052	+0.115%	$7.6M	$45.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.033	+0.095%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.964	+0.022%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.895	−0.052%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.872	−0.076%	$471K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.828	−0.123%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.903	−0.043%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.850	−0.100%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.890	−0.057%	$12.8M	$2.6M	50x	as long as short
Bulk HYPE-USDlong	+0.0100%	1h	93.944	long leg	$205K	$6K	10x
Extended HYPE-USD	+0.0104%	1h	93.840	−0.111%	$18.4M	$42.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.890	−0.057%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0163%	8h	93.929	−0.016%	$1.9M	$5.1M	2.3x	as long as short
BloFin HYPE-USDT	+0.0175%	4h	93.897	−0.050%	$17.0M	$12.5M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.150	+0.220%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.889	−0.058%	$2.8M	$6.9M	20x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	93.820	−0.131%	$78K	$143K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0251%	1h	93.948	+0.005%	$7.5M	$4.7M	50x	as long as short
HTX HYPE-USDT	+0.0310%	4h	94.050	+0.113%	$1.5M	$7.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0157%	1h	93.862	−0.087%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0672%	1h	93.955	+0.012%	$21.0M	$29.5M	50x	as long as short