HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +11.0% APRnext payment +$0.13 per $10,000 · paid last 24h +0.030%

Price spread now: Bulk against dYdX−0.075%7-day average +0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$720.722% of the position

Long on dYdX Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.083%+$8 on $10k

Price spread, last 4 days (all we have)+0.070%+$7 · spread now −0.075%, 7d avg +0.038%

Together, before fees+0.153%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bulk is 0.112% cheaper against dYdX than usual: you would sell low and buy high (spread −0.075% now, against its 7-day average of +0.038%). If the spread goes back, that is −$11 on $10k: about 3.7 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX HYPE-USD	92.770	0	get 0.0000% / 1h	22m 00s	$127K	$31K	5x
Short	Bulk HYPE-USD	92.701	0.0100	get 0.0013% / 1h	22m 00s	$202K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against dYdX. 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 dYdXbpFee BulkbpOrdersPrice spread, now −0.075%Rate

Funding earned: $21
Price spread: −0.075% → +0.038%: −$11.23
Slippage, 4 orders: −$55.16
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$62.39
Costs to cover: 0.722%
Break-even: 27.8 days

Slippage from dYdX: live order book, 37 min ago; Bulk: live order book, 37 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 dYdX live order book, 37 min ago	26.34 bp	31.3 bp −$31	43.7 bp −$437	139.8 bp −$14.0K	1018.5 bp −$509.3K
Sell Bulk live order book, 37 min ago	1.08 bp	4.9 bp −$5	6.3 bp −$63	12.0 bp −$1,198	35.1 bp −$17.5K

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
Arcus HYPE-USD	−0.0948%	1h	92.682	−0.095%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0248%	1h	92.684	−0.093%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0226%	1h	92.649	−0.131%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.679	−0.099%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.702	−0.074%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	92.787	+0.018%	$87K	$359K	20x	as long as short
dYdX HYPE-USDlong	0.0000%	1h	92.770	long leg	$127K	$31K	5x
Perpl HYPE	0.0000%	43m	92.736	−0.037%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.757	−0.015%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0020%	8h	92.672	−0.106%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0027%	1h	92.725	−0.049%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	+0.0033%	1h	92.640	−0.141%	$697K	$1.1M	10x	as long as short
Aster HYPEUSDT	+0.0036%	4h	92.741	−0.032%	$8.7M	$36.3M	300x	as long as short
BingX HYPE-USDT	+0.0040%	4h	92.727	−0.047%	—	$53.4M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.652	−0.128%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0050%	8h	92.723	−0.051%	$316.7M	$281.9M	75x	as long as short
Gate HYPE_USDT	+0.0086%	4h	92.714	−0.061%	$44.5M	$55.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0086%	8h	92.760	−0.011%	$113.6M	$304.4M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.762	−0.009%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.751	−0.022%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.750	−0.022%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.762	−0.009%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.710	−0.065%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.715	−0.060%	$6.8M	$45.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.764	−0.007%	$2.02B	$663.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.772	+0.001%	$10.0M	$15.1M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.750	−0.022%	$372.5M	$904.3M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.726	−0.048%	$87.5M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.745	−0.027%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.714	−0.061%	$224.4M	$98.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.720	−0.054%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.628	−0.154%	$28.5M	$57.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.667	−0.112%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.679	−0.099%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.691	−0.086%	$665K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.773	+0.003%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.752	−0.020%	$465K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.716	−0.059%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.722	−0.053%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.732	−0.041%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.753	−0.019%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.900	+0.140%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USDshort	+0.0100%	1h	92.701	−0.075%	$202K	$13K	10x
Extended HYPE-USD	+0.0104%	1h	92.707	−0.069%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.734	−0.039%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0117%	4h	92.646	−0.134%	$5.0M	$29.5M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.247%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.780	+0.010%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0242%	8h	92.827	+0.061%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0262%	1h	92.737	−0.036%	$79K	$133K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.741	−0.032%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.811	+0.044%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.691	−0.086%	$16.6M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0397%	1h	92.826	+0.060%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.823	+0.057%	$3.2M	$6.4M	20x	as long as short