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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 00:00 UTC−0.0093%/8h= −10.1% APRpaid last 24h −0.036%
Price spread now: Orderly against Bullet+0.027%7-day average −0.014% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BulletShort on Orderly
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.043%−$4 on $10k
Price spread, last 3 days (all we have)−0.049%−$5 · spread now +0.027%, 7d avg −0.014%
Together, before fees−0.092%−$9 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Orderly is 0.041% dearer against Bullet than usual: you sell high and buy low (spread +0.027% now, against its 7-day average of −0.014%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 35 hours. At the pace of the last 3 days (−0.043% in total) that is about 3.0 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBullet HYPE-USD93.5080.0092pay 0.0012% / 1h22m 36s$113K$576K20x
ShortOrderly PERP_HYPE_USDC93.533−0.0001pay 0.0000% / 4h22m 36s$168K$586K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Orderly against Bullet. 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

Funding earned
−$19.46
Price spread: +0.027% → −0.014%
$4.06
Slippage, 4 orders
no order book: not counted
Fee Bullet: 4 bp × 2 orders
−$8
Fee Orderly: 3 bp × 2 orders
−$6
Net
−$29.4
Costs to cover
0.140%
Break-even
never at this rate
Slippage unknown: Bullet: live order book, 57 min ago; Orderly: 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
LegHalf-spread$10k$100k$1M$5M
Buy Bullet live order book, 57 min ago0.22 bp8.9 bp −$915.0 bp −$150doesn't fitdoesn't fit
Sell Orderly no order-book sample—————
Orderly: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.0960%1h93.526+0.019%$198K$230K7xas long as short
Aftermath Perps HYPEUSD−0.0383%1h93.594+0.091%$22K$22K10xas long as short
Arcus HYPE-USD−0.0233%1h93.581+0.078%$1.2M$3.8M10xas long as short
Ondo Perps HYPE-USD.P−0.0082%1h93.450−0.062%$703K$910K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.557+0.052%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0056%1h93.708+0.214%$86K$366K20xas long as short
Orderly PERP_HYPE_USDCshort−0.0001%4h93.533+0.027%$168K$586K20x
dYdX HYPE-USD0.0000%1h93.662+0.164%$127K$30K5xas long as short
Perpl HYPE0.0000%43m93.500−0.009%$23K$329K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.548+0.043%$26K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0006%4h93.632+0.132%$8.9M$36.0M300xas long as short
Phoenix HYPE+0.0009%1h93.618+0.117%$214K$1.2M10xas long as short
Derive HYPE-PERP+0.0011%1h93.491−0.018%$16.3M$7.1M10xas long as short
Bybit HYPEUSDT+0.0017%8h93.711+0.217%$322.2M$283.7M75xas long as short
Binance HYPEUSDT+0.0049%4h93.712+0.218%$383.0M$896.3M75xas long as short
MEXC HYPE_USDT+0.0050%4h93.633+0.133%$87.8M$81.9M100xas long as short
edgeX HYPEUSDC+0.0062%4h93.464−0.048%$5.1M$29.7M30xas long as short
Phemex HYPEUSDT+0.0070%8h93.562+0.058%$12.7M$2.6M50xas long as short
Gate HYPE_USDT+0.0076%4h93.624+0.124%$44.0M$59.7M75xas long as short
Popdex HYPEUSDT+0.0080%1h93.735+0.243%$59K$1.2M50xas long as short
Bullet HYPE-USDlong+0.0092%1h93.508long leg$113K$576K20x
Lighter HYPE+0.0096%1h93.662+0.165%$18.8M$60.2M20xas long as short
Lighter RH HYPE+0.0096%1h93.598+0.096%$3.0M$12.3M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.545+0.040%$398K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.674+0.177%$340K$171K20xas long as short
OKX HYPE-USDT-SWAP+0.0099%8h93.711+0.217%$115.4M$321.2M50xas long as short
Katana Perps HYPE-USD+0.0099%8h93.650+0.152%$16K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.665+0.167%$5.7M$44.4M10xas long as short
Pacifica HYPE+0.0100%1h93.657+0.159%$10.1M$14.5M20xas long as short
Bulk HYPE-USD+0.0100%1h93.625+0.125%$204K$7K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.576+0.073%$46.3M$18.6M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.725+0.232%$227.0M$102.5M75xas long as short
BingX HYPE-USDT+0.0100%4h93.666+0.169%—$54.1M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.574+0.070%$7.8M$10.5M20xas long as short
Variational Omni HYPE+0.0100%8h93.574+0.071%$31.2M$54.0M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.619+0.118%$7.6M$45.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.485−0.025%$358K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h93.514+0.006%$676K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.699+0.204%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.732+0.239%$491K$2.4M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.525+0.018%$76K$171K20xas long as short
SunX HYPE-USDT+0.0100%4h93.570+0.066%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.548+0.043%$2.0M$2.0M10xas long as short
Injective HYPE/USDC PERP+0.0104%1h94.410+0.964%$31K$338K12xas long as short
Extended HYPE-USD+0.0104%1h93.657+0.159%$18.4M$42.8M50xas long as short
Kalshi KXHYPEPERP+0.0134%8h93.585+0.082%$1.9M$5.0M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h93.610+0.109%$4.9M$5.7M50xas long as short
Hyperliquid HYPE+0.0153%1h93.597+0.095%$2.03B$677.1M10xas long as short
BloFin HYPE-USDT+0.0203%4h93.528+0.021%$17.1M$12.6M75xas long as short
HTX HYPE-USDT+0.0206%4h93.745+0.253%$1.5M$7.8M75xas long as short
Reya HYPERUSDPERP+0.0249%1h93.690+0.195%$77K$142K15xas long as short
RISEx HYPE/USDC+0.0284%1h93.741+0.249%$2.8M$6.9M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0337% / S −0.0163%1h93.537+0.031%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0455%1h93.646+0.147%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSD+0.0580%1h93.633+0.133%$20.9M$29.5M50xas long as short