HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0295%/8h= +32.3% APRnext payment +$0.37 per $10,000 · paid last 24h +0.037%

Price spread now: Kraken Futures against Coinbase International+0.039%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$380.379% of the position

Long on Coinbase International Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.217%+$22 on $10k

Price spread, last 4 days (all we have)+0.013%+$1 · spread now +0.039%, 7d avg +0.062%

Together, before fees+0.230%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.023% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.039% now, against its 7-day average of +0.062%). If the spread goes back, that is −$2 on $10k: about 6 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.217% in total) that is about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International HYPE-PERP-INTX	93.680	0.0120	pay 0.0015% / 1h	46m 34s	$4.7M	$6.1M	50x
Short	Kraken Futures PF_HYPEUSD	93.717	0.0415	get 0.0052% / 1h	46m 34s	$20.9M	$29.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Coinbase International. 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 Coinbase InternationalbpFee Kraken FuturesbpOrdersPrice spread, now +0.039%Rate

Funding earned: $61.94
Price spread: +0.039% → +0.062%: −$2.29
Slippage, 4 orders: −$17.94
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $21.71
Costs to cover: 0.379%
Break-even: 4.5 days

Slippage from Coinbase International: live order book, 2 min ago; Kraken Futures: live order book, 3 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 Coinbase International live order book, 2 min ago	2.67 bp	8.4 bp −$8	13.3 bp −$133	35.3 bp −$3,525	doesn't fit
Sell Kraken Futures live order book, 3 min ago	1.76 bp	9.0 bp −$9	9.7 bp −$97	19.5 bp −$1,945	51.5 bp −$25.7K

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	−0.1096%	1h	93.581	−0.106%	$198K	$242K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0245%	1h	93.775	+0.101%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0125%	1h	93.570	−0.117%	$705K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.621	−0.063%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0068%	1h	93.624	−0.060%	$111K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	93.625	−0.059%	$86K	$370K	20x	as long as short
Bluefin HYPE-PERP	−0.0028%	1h	93.625	−0.059%	$79K	$156K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0020%	4h	93.597	−0.089%	$145K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.698	+0.019%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.652	−0.030%	$21K	$287K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.654	−0.028%	$63K	—	150x	as long as short
BingX HYPE-USDT	+0.0006%	4h	93.627	−0.057%	—	$53.7M	—	as long as short
Bybit HYPEUSDT	+0.0008%	8h	93.610	−0.075%	$316.2M	$287.9M	75x	as long as short
Phoenix HYPE	+0.0017%	1h	93.687	+0.007%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	93.591	−0.095%	$225.4M	$99.5M	75x	as long as short
Phemex HYPEUSDT	+0.0072%	8h	93.666	−0.015%	$12.8M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0082%	4h	93.648	−0.034%	$5.0M	$30.6M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0082%	8h	93.656	−0.025%	$335K	$161K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.600	−0.085%	$1.0M	$4.0M	10x	as long as short
Derive HYPE-PERP	+0.0092%	1h	93.579	−0.108%	$16.3M	$7.4M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.620	−0.064%	$16.1M	$63.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.642	−0.041%	$3.1M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.607	−0.078%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.630	−0.053%	$22K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.606	−0.080%	$7.4M	$50.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.702	+0.023%	$2.05B	$682.7M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.624	−0.060%	$8.9M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.667	−0.014%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.605	−0.080%	$375.1M	$930.5M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.601	−0.084%	$115.7M	$316.0M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.620	−0.064%	$48.4M	$55.0M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.635	−0.048%	$90.0M	$83.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.628	−0.056%	$46.3M	$18.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.657	−0.025%	$7.2M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.670	−0.011%	$28.6M	$56.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.726	+0.049%	$7.6M	$48.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.674	−0.006%	$347K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.649	−0.033%	$678K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.677	−0.003%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.633	−0.050%	$470K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.741	+0.065%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.628	−0.056%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.791	+0.118%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.731	+0.055%	$216K	$15K	10x	as long as short
Kalshi KXHYPEPERP	+0.0104%	8h	93.729	+0.052%	$1.8M	$5.6M	2.3x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.597	−0.088%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.623	−0.061%	$396K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTXlong	+0.0120%	1h	93.680	long leg	$4.7M	$6.1M	50x
Injective HYPE/USDC PERP	+0.0205%	1h	93.640	−0.043%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	93.569	−0.118%	$77K	$130K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0305%	1h	93.727	+0.050%	$7.4M	$4.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	93.662	−0.019%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.653	−0.029%	$17.0M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSDshort	+0.0415%	1h	93.717	+0.039%	$20.9M	$29.6M	50x
RISEx HYPE/USDC	+0.0559%	1h	93.647	−0.035%	$3.2M	$6.4M	20x	as long as short