HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0042%/8h= −4.6% APRnext payment −$0.05 per $10,000 · paid last 24h −0.007%

Price spread now: Bullet against Bulk+0.008%49s7-day average −0.016% · 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—prices read too far apart to compare

costs, in and out, $10k−$260.257% of the position

Long on Bulk Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.011%−$1 on $10k

Price spread, last 3 days (all we have)+0.207%+$21 · spread now +0.008%, 7d avg −0.016%

Together, before fees+0.196%+$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bullet is 0.024% dearer against Bulk than usual: you sell high and buy low (spread +0.008% now, against its 7-day average of −0.016%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 46 hours. At the pace of the last 3 days (−0.011% in total) that is about 6.9 days. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk HYPE-USD	93.232	0.0100	pay 0.0013% / 1h	20m 35s	$204K	$8K	10x
Short	Bullet HYPE-USD	93.239	0.0058	get 0.0007% / 1h	20m 35s	$111K	$580K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$8.76
Price spread: +0.008% → −0.016%: $2.39
Slippage, 4 orders: −$10.66
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$32.02
Costs to cover: 0.257%
Break-even: never at this rate

Slippage from Bulk: live order book, 63 min ago; Bullet: live order book, 64 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, 63 min ago	0.53 bp	4.0 bp −$4	5.6 bp −$56	11.5 bp −$1,153	35.8 bp −$17.9K
Sell Bullet live order book, 64 min ago	0.48 bp	9.9 bp −$10	14.5 bp −$145	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
Aftermath Perps HYPEUSD	−0.0422%	1h	93.090	−0.153%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0320%	1h	93.155	−0.083%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.167	−0.070%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0127%	1h	93.140	−0.099%	$699K	$928K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.236	+0.004%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	93.227	−0.006%	$90K	$361K	20x	as long as short
Popdex HYPEUSDT	−0.0008%	1h	93.209	−0.025%	$58K	$1.2M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.276	+0.047%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.230	−0.003%	$23K	$331K	10x	as long as short
Aster HYPEUSDT	0.0000%	4h	93.252	+0.022%	$8.9M	$35.9M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.277	+0.048%	$20K	—	150x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	93.184	−0.052%	$323.0M	$287.3M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0022%	4h	93.253	+0.022%	$172K	$518K	20x	as long as short
Derive HYPE-PERP	+0.0029%	1h	93.205	−0.029%	$16.3M	$7.1M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.030	−0.217%	$214K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0054%	4h	93.228	−0.005%	$43.9M	$58.5M	75x	as long as short
Bullet HYPE-USDshort	+0.0058%	1h	93.239	+0.008%	$111K	$580K	20x
MEXC HYPE_USDT	+0.0064%	4h	93.234	+0.002%	$90.3M	$82.2M	100x	as long as short
Binance HYPEUSDT	+0.0067%	4h	93.209	−0.025%	$381.7M	$895.5M	75x	as long as short
edgeX HYPEUSDC	+0.0074%	4h	92.953	−0.299%	$5.0M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.293	+0.065%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.257	+0.027%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.236	+0.005%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.246	+0.015%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.210	−0.024%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.209	−0.024%	$5.9M	$44.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.271	+0.042%	$2.03B	$669.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.261	+0.031%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.195	−0.040%	$113.8M	$314.4M	50x	as long as short
Bulk HYPE-USDlong	+0.0100%	1h	93.232	long leg	$204K	$8K	10x
KuCoin HYPEUSDTM	+0.0100%	4h	93.247	+0.016%	$47.0M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.238	+0.006%	$226.0M	$103.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.231	−0.001%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.243	+0.012%	$7.8M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.933	−0.321%	$28.9M	$50.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.008	−0.240%	$7.5M	$45.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.016	−0.232%	$414K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.100	−0.142%	$673K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.238	+0.006%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.242	+0.010%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.260	+0.030%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.273	+0.044%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.249	+0.018%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.231	−0.001%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.202	−0.032%	$18.2M	$42.0M	50x	as long as short
Kalshi KXHYPEPERP	+0.0111%	8h	93.271	+0.042%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.220	−0.013%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.320	+0.094%	$30K	$338K	12x	as long as short
HTX HYPE-USDT	+0.0242%	4h	93.400	+0.180%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.226	−0.007%	$77K	$159K	15x	as long as short
BloFin HYPE-USDT	+0.0257%	4h	93.255	+0.024%	$16.9M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.291	+0.064%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0158%	1h	93.267	+0.037%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0425%	1h	93.346	+0.122%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.372	+0.150%	$20.9M	$29.0M	50x	as long as short