HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.030%

Price spread now: dYdX against Bulk−0.182%7-day average −0.032% · 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−$85as in the Price arb table

costs, in and out, $10k−$700.696% of the position

Long on Bulk Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.089%−$9 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now −0.182%, 7d avg −0.032%

Together, before fees−0.157%−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.150% cheaper against Bulk than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.032%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk HYPE-USD	95.176	0.0100	pay 0.0013% / 1h	58m 03s	$222K	$14K	10x
Short	dYdX HYPE-USD	95.003	0	get 0.0000% / 1h	58m 03s	$130K	$93K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.182%Rate

Funding earned: −$21
Price spread: −0.182% → −0.032%: −$14.96
Slippage, 4 orders: −$52.62
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$105.58
Costs to cover: 0.696%
Break-even: never at this rate

Slippage from Bulk: live order book, 36 min ago; dYdX: live order book, 36 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, 36 min ago	0.53 bp	4.6 bp −$5	7.3 bp −$73	16.8 bp −$1,679	52.8 bp −$26.4K
Sell dYdX live order book, 36 min ago	24.32 bp	29.3 bp −$29	72.6 bp −$726	154.8 bp −$15.5K	904.2 bp −$452.1K

HYPE on 54 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	−0.1064%	1h	94.977	−0.209%	$211K	$265K	7x	as long as short
Bluefin HYPE-PERP	−0.0785%	1h	94.953	−0.234%	$79K	$147K	20x	as long as short
Bullet HYPE-USD	−0.0486%	1h	94.997	−0.188%	$112K	$580K	20x	as long as short
Kraken Futures PF_HYPEUSD	−0.0376%	1h	94.986	−0.200%	$18.8M	$35.7M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0268%	1h	95.020	−0.164%	$695K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0256%	1h	94.999	−0.186%	$90K	$356K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0202%	1h	95.154	−0.023%	$22K	$19K	10x	as long as short
Arcus HYPE-USD	−0.0159%	1h	94.985	−0.201%	$1.0M	$3.1M	10x	as long as short
Phemex HYPEUSDT	−0.0142%	8h	95.003	−0.182%	$13.0M	$2.8M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.045	−0.138%	$3K	$331	25x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0078%	4h	94.923	−0.266%	$53.2M	$53.7M	75x	as long as short
Polymarket Perps HYPE-USD	−0.0048%	1h	95.028	−0.155%	$499K	$2.6M	20x	as long as short
Vest HYPE-PERP	−0.0044%	1h	95.073	−0.108%	—	$88K	5x	as long as short
Lighter RH HYPE	−0.0032%	1h	94.979	−0.207%	$3.2M	$9.8M	20x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0024%	1h	95.000	−0.185%	$4.7M	$5.7M	50x	as long as short
SoDEX HYPE-USD	−0.0012%	1h	94.975	−0.211%	$2.1M	$1.4M	10x	as long as short
Bybit HYPEUSDT	−0.0008%	8h	94.950	−0.237%	$319.3M	$281.9M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.966	−0.221%	$148K	$669K	20x	as long as short
dYdX HYPE-USDshort	0.0000%	1h	95.003	−0.182%	$130K	$93K	5x
Kalshi KXHYPEPERP	0.0000%	8h	95.103	−0.077%	$1.8M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	95.019	−0.164%	$19K	$271K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.100	−0.080%	$86K	—	150x	as long as short
BingX HYPE-USDT	+0.0004%	4h	94.921	−0.268%	—	$50.3M	—	as long as short
Phoenix HYPE	+0.0008%	1h	95.157	−0.020%	$203K	$1.0M	10x	as long as short
Backpack HYPE_USDC_PERP	+0.0013%	1h	94.899	−0.291%	$7.3M	$10.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0026%	8h	94.917	−0.272%	$118.6M	$320.7M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0034%	1h	95.079	−0.102%	$7.5M	$4.3M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0039%	8h	95.036	−0.147%	$340K	$38K	20x	as long as short
Bitget HYPEUSDT	+0.0050%	4h	94.917	−0.272%	$228.1M	$93.3M	75x	as long as short
Aster HYPEUSDT	+0.0066%	4h	94.932	−0.256%	$9.0M	$36.4M	300x	as long as short
edgeX HYPEUSDC	+0.0087%	4h	95.022	−0.162%	$5.0M	$31.1M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.993	−0.192%	$16.2M	$60.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.995	−0.190%	$266K	$1.3M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.010	−0.174%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.001	−0.184%	$7.3M	$55.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.107	−0.072%	$2.10B	$676.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.047	−0.135%	$10.2M	$14.0M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.941	−0.247%	$381.6M	$908.5M	75x	as long as short
Bulk HYPE-USDlong	+0.0100%	1h	95.176	long leg	$222K	$14K	10x
MEXC HYPE_USDT	+0.0100%	4h	94.960	−0.227%	$86.7M	$85.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.972	−0.214%	$47.4M	$18.3M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.987	−0.198%	$30.1M	$55.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.063	−0.119%	$7.7M	$43.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.023	−0.161%	$348K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.051	−0.131%	$691K	$2.7M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.870	−0.321%	$32K	$1.5M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.126	−0.052%	$1.4M	$6.7M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.929	−0.260%	$18.3M	$41.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.979	−0.206%	$401K	$136K	20x	as long as short
RISEx HYPE/USDC	+0.0166%	1h	95.038	−0.145%	$3.2M	$6.2M	20x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	94.988	−0.197%	$85K	$93K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.106	−0.074%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.006	−0.178%	$17.2M	$12.2M	75x	as long as short
Injective HYPE/USDC PERP	+0.0850%	1h	95.480	+0.320%	$31K	$335K	12x	as long as short