HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.068%

Price spread now: Hyperliquid against dYdX+0.001%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$730.733% of the position

Long on dYdX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.208%+$21 on $10k

Price spread, last 4 days (all we have)+0.142%+$14 · spread now +0.001%, 7d avg +0.046%

Together, before fees+0.349%+ Points / potential airdropHyperliquid: Season 2 · farm board+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.044% cheaper against dYdX than usual: you would sell low and buy high (spread +0.001% now, against its 7-day average of +0.046%). If the spread goes back, that is −$4 on $10k: about 36 hours 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	92.238	0	get 0.0000% / 1h	45m 13s	$126K	$31K	5x
Short	Hyperliquid HYPE	92.239	0.0100	get 0.0013% / 1h	45m 13s	$2.01B	$663.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.001%Rate

Funding earned: $21
Price spread: +0.001% → +0.046%: −$4.44
Slippage, 4 orders: −$54.32
Fee dYdX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$56.76
Costs to cover: 0.733%
Break-even: 25.9 days

Slippage from dYdX: live order book, 14 min ago; Hyperliquid: live order book, 9 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, 14 min ago	26.34 bp	31.3 bp −$31	43.7 bp −$437	139.8 bp −$14.0K	1018.5 bp −$509.3K
Sell Hyperliquid live order book, 9 min ago	0.05 bp	5.6 bp −$6	6.8 bp −$68	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
Arcus HYPE-USD	−0.0948%	1h	92.187	−0.055%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0592%	1h	92.223	−0.016%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0139%	1h	92.368	+0.141%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0128%	1h	92.184	−0.058%	$85K	$353K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.174	−0.069%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0071%	4h	92.174	−0.069%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0062%	1h	92.179	−0.063%	$110K	$580K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0014%	1h	92.110	−0.139%	$696K	$1.1M	10x	as long as short
Aster HYPEUSDT	−0.0013%	4h	92.194	−0.048%	$8.6M	$36.4M	300x	as long as short
dYdX HYPE-USDlong	0.0000%	1h	92.238	long leg	$126K	$31K	5x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	92.198	−0.043%	$22K	$310K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.210	−0.030%	$61K	—	150x	as long as short
BingX HYPE-USDT	+0.0030%	4h	92.191	−0.051%	—	$53.2M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.430	+0.208%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0043%	8h	92.180	−0.063%	$315.5M	$280.8M	75x	as long as short
Gate HYPE_USDT	+0.0046%	4h	92.167	−0.077%	$44.2M	$54.7M	75x	as long as short
Derive HYPE-PERP	+0.0060%	1h	92.145	−0.100%	$16.0M	$7.5M	10x	as long as short
Phemex HYPEUSDT	+0.0067%	8h	92.180	−0.063%	$12.4M	$2.7M	50x	as long as short
MEXC HYPE_USDT	+0.0074%	4h	92.179	−0.064%	$87.0M	$80.4M	100x	as long as short
Binance HYPEUSDT	+0.0075%	4h	92.180	−0.063%	$369.5M	$897.8M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	92.184	−0.058%	$112.6M	$300.9M	50x	as long as short
edgeX HYPEUSDC	+0.0078%	4h	92.205	−0.036%	$4.9M	$29.5M	30x	as long as short
Popdex HYPEUSDT	+0.0088%	1h	92.201	−0.040%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0091%	8h	92.221	−0.019%	$338K	$163K	20x	as long as short
ApeX Omni HYPEUSDT	+0.0094%	1h	92.216	−0.024%	$337K	$1.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	92.194	−0.048%	$16.0M	$62.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.193	−0.049%	$3.1M	$11.6M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	92.148	−0.097%	$390K	$164K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.160	−0.084%	$13K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.159	−0.085%	$5.8M	$43.2M	10x	as long as short
Hyperliquid HYPEshort	+0.0100%	1h	92.239	+0.001%	$2.01B	$663.7M	10x
Pacifica HYPE	+0.0100%	1h	92.220	−0.019%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	+0.609%	$202K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.212	−0.028%	$45.7M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.184	−0.058%	$223.6M	$98.2M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.195	−0.047%	$7.2M	$10.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.158	−0.087%	$28.3M	$57.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.327	+0.097%	$7.5M	$45.9M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.215	−0.025%	$662K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.248	+0.011%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.214	−0.026%	$474K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.235	−0.003%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.176	−0.067%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.348	+0.119%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.154	−0.091%	$18.1M	$43.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.170	−0.074%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.220	−0.019%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0259%	8h	92.252	+0.015%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.191	−0.051%	$78K	$140K	15x	as long as short
Bluefin HYPE-PERP	+0.0297%	1h	92.147	−0.099%	$78K	$168K	20x	as long as short
BloFin HYPE-USDT	+0.0299%	4h	92.165	−0.079%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0329% / S −0.0153%	1h	92.198	−0.044%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0334%	1h	92.236	−0.002%	$20.5M	$30.4M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0563%	1h	92.285	+0.051%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.270	+0.034%	$3.1M	$6.4M	20x	as long as short