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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0187%/8h= +20.5% APRpaid last 24h +0.086%
Price spread now: Injective against Bybit−0.021%88s7-day average +0.179% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on BybitShort on Injective
What this pair did over the last
the charts below follow
Funding, last 7 days+2.255%+$225 on $10k
Price spread, last 4 days (all we have)−0.159%−$16 · spread now −0.021%, 7d avg +0.179%
Together, before fees+2.096%+$210 on $10k · with fees, hour by hour
Funding pays, the price is against you. Injective is 0.201% cheaper against Bybit than usual: you would sell low and buy high (spread −0.021% now, against its 7-day average of +0.179%). If the spread goes back, that is −$20 on $10k: about 3.6 days of funding at the current rate (+$6 a day). At the pace of the last 7 days (+2.255% in total) that is about 15 hours. The two prices were read 88 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit HYPEUSDT93.8800.0018pay 0.0018% / 8h1h 57m$317.3M$287.3M75x
ShortInjective HYPE/USDC PERP93.8600.0205get 0.0026% / 1h57m 44s$30K$339K12x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Injective against Bybit. 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

Funding earned
$39.28
Price spread: −0.021% → +0.179%
−$20.07
Slippage, 4 orders
no order book: not counted
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
$8.18
Costs to cover
0.110%
Break-even
5.5 days
Slippage unknown: Bybit: live order book, 1 min ago; Injective: live order book, 51 min ago. 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 Bybit live order book, 1 min ago0.53 bp6.0 bp −$67.4 bp −$7415.4 bp −$1,54550.1 bp −$25.1K
Sell Injective live order book, 51 min ago15.47 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit

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−0.1256%1h93.851−0.031%$200K$242K7xas long as short
Aftermath Perps HYPEUSD−0.0276%1h94.143+0.280%$22K$21K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.992+0.119%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0040%1h93.848−0.034%$86K$372K20xas long as short
Orderly PERP_HYPE_USDC−0.0016%4h93.764−0.124%$150K$680K20xas long as short
dYdX HYPE-USD0.0000%1h94.005+0.133%$129K$29K5xas long as short
Perpl HYPE0.0000%43m93.809−0.075%$22K$285K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.828−0.055%$63K—150xas long as short
BingX HYPE-USDT+0.0014%4h93.888+0.009%—$53.8M—as long as short
Bybit HYPEUSDTlong+0.0018%8h93.880long leg$317.3M$287.3M75x
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix HYPE+0.0026%1h94.145+0.282%$209K$1.1M10xas long as short
Bluefin HYPE-PERP+0.0027%1h93.785−0.101%$79K$166K20xas long as short
Bitget HYPEUSDT+0.0040%4h93.877−0.003%$226.3M$99.3M75xas long as short
Phemex HYPEUSDT+0.0054%8h93.817−0.067%$12.8M$2.8M50xas long as short
edgeX HYPEUSDC+0.0080%4h94.128+0.264%$5.0M$30.5M30xas long as short
Arcus HYPE-USD+0.0084%1h93.952+0.077%$1.0M$4.0M10xas long as short
SoDEX HYPE-USD+0.0088%1h93.785−0.101%$2.0M$1.9M10xas long as short
Paradex HYPE-USD-PERP+0.0094%8h94.023+0.153%$342K$158K20xas long as short
Lighter HYPE+0.0096%1h93.836−0.047%$16.2M$63.1M20xas long as short
Lighter RH HYPE+0.0096%1h93.823−0.061%$3.1M$11.1M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.893+0.014%$78K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h93.910+0.032%$22K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.778−0.108%$6.1M$50.2M10xas long as short
Hyperliquid HYPE+0.0100%1h93.950+0.075%$2.06B$683.0M10xas long as short
Aster HYPEUSDT+0.0100%4h93.891+0.012%$8.9M$37.2M300xas long as short
Pacifica HYPE+0.0100%1h94.020+0.149%$10.1M$15.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.823−0.061%$377.1M$928.6M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.873−0.007%$115.9M$316.9M50xas long as short
Ondo Perps HYPE-USD.P+0.0100%1h93.920+0.043%$709K$1.2M10xas long as short
Bulk HYPE-USD+0.0100%1h94.213+0.355%$217K$15K10xas long as short
Gate HYPE_USDT+0.0100%4h93.8800.000%$48.3M$54.7M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.879−0.001%$88.0M$82.8M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.891+0.012%$46.3M$18.9M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.799−0.086%$7.2M$10.8M20xas long as short
Variational Omni HYPE+0.0100%8h94.028+0.157%$28.8M$56.5M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h94.099+0.233%$7.7M$48.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h94.152+0.290%$344K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.969+0.095%$681K$2.8M20xas long as short
Vest HYPE-PERP+0.0100%1h93.931+0.054%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.907+0.029%$477K$2.8M20xas long as short
Bullet HYPE-USD+0.0100%1h93.812−0.072%$112K$581K20xas long as short
Derive HYPE-PERP+0.0100%1h93.782−0.104%$16.4M$7.4M10xas long as short
SunX HYPE-USDT+0.0100%4h93.888+0.009%$32K$1.6M20xas long as short
HTX HYPE-USDT+0.0100%4h93.950+0.075%$1.4M$6.7M75xas long as short
Extended HYPE-USD+0.0104%1h93.858−0.023%$18.3M$43.3M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.797−0.088%$396K$159K20xas long as short
Kalshi KXHYPEPERP+0.0111%8h93.863−0.018%$1.8M$5.6M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0120%1h93.830−0.053%$4.7M$6.1M50xas long as short
Injective HYPE/USDC PERPshort+0.0205%1h93.860−0.021%$30K$339K12x
Reya HYPERUSDPERP+0.0270%1h93.797−0.088%$77K$130K15xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0315%1h93.8800.000%$7.4M$4.2M50xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0333% / S −0.0154%1h93.835−0.048%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.949+0.073%$17.0M$12.2M75xas long as short
Kraken Futures PF_HYPEUSD+0.0414%1h93.840−0.042%$20.9M$29.6M50xas long as short
RISEx HYPE/USDC+0.0559%1h93.978+0.104%$3.2M$6.4M20xas long as short