HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0085%/8h= +9.3% APRnext payment +$0.11 per $10,000 · paid last 24h +0.068%

Price spread now: Injective against Coinbase International+0.032%64s7-day average +0.179% · you sell dearer than you buy

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

Long on Coinbase International Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+2.287%+$229 on $10k

Price spread, last 4 days (all we have)−0.175%−$18 · spread now +0.032%, 7d avg +0.179%

Together, before fees+2.112%+$211 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 0.147% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.032% now, against its 7-day average of +0.179%). If the spread goes back, that is −$15 on $10k: about 5.8 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+2.287% in total) that is about 11 hours. The two prices were read 64 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	Coinbase International HYPE-PERP-INTX	93.830	0.0120	pay 0.0015% / 1h	57m 44s	$4.7M	$6.1M	50x
Short	Injective HYPE/USDC PERP	93.860	0.0205	get 0.0026% / 1h	57m 44s	$30K	$339K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Coinbase International. 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 Coinbase InternationalbpFee InjectivebpOrdersPrice spread, now +0.032%Rate

Funding earned: $17.85
Price spread: +0.032% → +0.179%: −$14.66
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$6.83
Costs to cover: 0.100%
Break-even: 9.7 days

Slippage unknown: Coinbase International: 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Coinbase International live order book, 1 min ago	2.13 bp	7.1 bp −$7	13.7 bp −$137	37.2 bp −$3,725	doesn't fit
Sell Injective live order book, 51 min ago	15.47 bp	doesn't fit	doesn't fit	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
Hibachi HYPE/USDT-P	−0.1256%	1h	93.851	+0.022%	$200K	$242K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0276%	1h	94.143	+0.334%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.992	+0.173%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.848	+0.019%	$86K	$372K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0016%	4h	93.764	−0.070%	$150K	$680K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.005	+0.186%	$129K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.809	−0.022%	$22K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.828	−0.002%	$63K	—	150x	as long as short
BingX HYPE-USDT	+0.0014%	4h	93.888	+0.062%	—	$53.8M	—	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.880	+0.053%	$317.3M	$287.3M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0026%	1h	94.145	+0.336%	$209K	$1.1M	10x	as long as short
Bluefin HYPE-PERP	+0.0027%	1h	93.785	−0.048%	$79K	$166K	20x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	93.877	+0.050%	$226.3M	$99.3M	75x	as long as short
Phemex HYPEUSDT	+0.0054%	8h	93.817	−0.014%	$12.8M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	94.128	+0.318%	$5.0M	$30.5M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.952	+0.130%	$1.0M	$4.0M	10x	as long as short
SoDEX HYPE-USD	+0.0088%	1h	93.785	−0.048%	$2.0M	$1.9M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	94.023	+0.206%	$342K	$158K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.836	+0.006%	$16.2M	$63.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.823	−0.007%	$3.1M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.893	+0.067%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.910	+0.085%	$22K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.778	−0.055%	$6.1M	$50.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.950	+0.128%	$2.06B	$683.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.891	+0.065%	$8.9M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.020	+0.203%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.823	−0.007%	$377.1M	$928.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.873	+0.046%	$115.9M	$316.9M	50x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	93.920	+0.096%	$709K	$1.2M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.213	+0.409%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.880	+0.053%	$48.3M	$54.7M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.879	+0.052%	$88.0M	$82.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.891	+0.065%	$46.3M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.799	−0.033%	$7.2M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.028	+0.211%	$28.8M	$56.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.099	+0.287%	$7.7M	$48.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.152	+0.343%	$344K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.969	+0.148%	$681K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.931	+0.107%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.907	+0.082%	$477K	$2.8M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.812	−0.019%	$112K	$581K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.782	−0.051%	$16.4M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.888	+0.062%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.950	+0.128%	$1.4M	$6.7M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.858	+0.030%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.797	−0.035%	$396K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0111%	8h	93.863	+0.035%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTXlong	+0.0120%	1h	93.830	long leg	$4.7M	$6.1M	50x
Injective HYPE/USDC PERPshort	+0.0205%	1h	93.860	+0.032%	$30K	$339K	12x
Reya HYPERUSDPERP	+0.0270%	1h	93.797	−0.035%	$77K	$130K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0315%	1h	93.880	+0.053%	$7.4M	$4.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	93.835	+0.005%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.949	+0.127%	$17.0M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0414%	1h	93.840	+0.011%	$20.9M	$29.6M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.978	+0.157%	$3.2M	$6.4M	20x	as long as short