HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0335%/8h= −36.7% APRnext payment −$0.42 per $10,000 · paid last 24h −0.036%

Price spread now: Ondo Perps against Bulk−0.350%7-day average −0.118% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bulk Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.098%−$10 on $10k

Price spread, last 4 days (all we have)+0.302%+$30 · spread now −0.350%, 7d avg −0.118%

Together, before fees+0.203%+ Points / potential airdropOndo Perps: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Ondo Perps is 0.233% cheaper against Bulk than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of −0.118%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.098% in total (about -9.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.42 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	94.240	0.0100	pay 0.0013% / 1h	22m 16s	$218K	$12K	10x
Short	Ondo Perps HYPE-USD.P	93.910	−0.0235	pay 0.0029% / 1h	22m 16s	$711K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Bulk. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.350%Rate

Funding earned: −$70.39
Price spread: −0.350% → −0.118%: −$23.28
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$105.67
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Bulk: live order book, 17 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 17 min ago	0.53 bp	4.0 bp −$4	5.5 bp −$55	11.4 bp −$1,139	27.6 bp −$13.8K
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1728%	1h	93.996	−0.259%	$201K	$255K	7x	as long as short
Bluefin HYPE-PERP	−0.0414%	1h	93.999	−0.256%	$79K	$152K	20x	as long as short
Bullet HYPE-USD	−0.0237%	1h	94.031	−0.222%	$111K	$577K	20x	as long as short
Ondo Perps HYPE-USD.Pshort	−0.0235%	1h	93.910	−0.350%	$711K	$1.2M	10x
Aftermath Perps HYPEUSD	−0.0133%	1h	94.178	−0.066%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	94.055	−0.196%	$87K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.046	−0.206%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0074%	1h	93.982	−0.274%	$16.4M	$7.5M	10x	as long as short
Lighter HYPE	−0.0048%	1h	94.075	−0.176%	$16.3M	$64.4M	20x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.030	−0.223%	$1.0M	$3.6M	10x	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	94.035	−0.218%	—	$52.9M	—	as long as short
Bybit HYPEUSDT	−0.0019%	8h	94.016	−0.238%	$316.0M	$289.2M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0009%	4h	93.999	−0.256%	$146K	$684K	20x	as long as short
Polymarket Perps HYPE-USD	−0.0006%	1h	94.064	−0.187%	$496K	$2.8M	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.136	−0.110%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.094	−0.155%	$1.8M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.232	−0.009%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.049	−0.203%	$19K	$288K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.076	−0.175%	$123K	—	150x	as long as short
Paradex HYPE-USD-PERP	+0.0031%	8h	94.104	−0.145%	$336K	$154K	20x	as long as short
Bitget HYPEUSDT	+0.0032%	4h	94.006	−0.248%	$225.8M	$100.0M	75x	as long as short
SoDEX HYPE-USD	+0.0037%	1h	94.015	−0.239%	$2.0M	$1.9M	10x	as long as short
Vest HYPE-PERP	+0.0040%	1h	94.105	−0.144%	—	$190K	5x	as long as short
Phemex HYPEUSDT	+0.0052%	8h	94.044	−0.208%	$12.8M	$2.9M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.120	−0.128%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0066%	8h	94.013	−0.241%	$117.2M	$323.0M	50x	as long as short
Gate HYPE_USDT	+0.0090%	4h	94.030	−0.223%	$49.9M	$56.7M	75x	as long as short
edgeX HYPEUSDC	+0.0090%	4h	94.094	−0.155%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.098	−0.151%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.035	−0.218%	$81K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.030	−0.223%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.035	−0.218%	$7.2M	$53.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.147	−0.099%	$2.07B	$687.5M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.043	−0.209%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.112	−0.136%	$10.1M	$15.1M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.049	−0.202%	$376.6M	$933.1M	75x	as long as short
Bulk HYPE-USDlong	+0.0100%	1h	94.240	long leg	$218K	$12K	10x
MEXC HYPE_USDT	+0.0100%	4h	94.042	−0.210%	$88.1M	$83.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.038	−0.215%	$46.7M	$18.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.046	−0.206%	$7.5M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.108	−0.141%	$29.5M	$54.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.122	−0.125%	$7.6M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.083	−0.167%	$369K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.060	−0.191%	$680K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.069	−0.182%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.180	−0.064%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.990	−0.265%	$18.3M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.027	−0.227%	$397K	$154K	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0143%	1h	94.124	−0.123%	$7.4M	$4.3M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0022%	1h	94.084	−0.166%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.740	+0.530%	$31K	$340K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0224%	1h	94.085	−0.165%	$20.2M	$30.2M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.064	−0.186%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.011	−0.243%	$84K	$123K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.044	−0.208%	$17.1M	$12.3M	75x	as long as short