HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0036%/8h= −3.9% APRnext payment −$0.04 per $10,000 · paid last 24h −0.054%

Price spread now: Bluefin against GMX+0.015%7-day average −0.021% · you sell dearer than you buy

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

Long on GMX Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.219%−$22 on $10k

Price spread, last 3 days (all we have)−0.158%−$16 · spread now +0.015%, 7d avg −0.021%

Together, before fees−0.377%−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bluefin is 0.036% dearer against GMX than usual: you sell high and buy low (spread +0.015% now, against its 7-day average of −0.021%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.3 days. At the pace of the last 3 days (−0.219% in total) that is about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX HYPE/USD [WBTC.b-USDC]	93.193	L +0.0340% / S −0.0159%	pay 0.0043% / 1h	46m 49s	$1.5M	—	100x
Short	Bluefin HYPE-PERP	93.207	0.0304	get 0.0038% / 1h	46m 49s	$76K	$168K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against GMX. 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 GMXbpFee BluefinbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$7.51
Price spread: +0.015% → −0.021%: $3.57
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$22.93
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bluefin: live order book, 37 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 GMX no order-book sample	—	—	—	—	—
Sell Bluefin live order book, 37 min ago	1.92 bp	12.2 bp −$12	doesn't fit	doesn't fit	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Aftermath Perps HYPEUSD	−0.0320%	1h	93.105	−0.095%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.194	+0.001%	$1.2M	$4.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.221	+0.030%	$3K	$331	25x	as long as short
Hibachi HYPE/USDT-P	−0.0080%	1h	93.088	−0.113%	$197K	$231K	7x	as long as short
01 Exchange HYPEUSD	−0.0008%	1h	93.245	+0.056%	$90K	$362K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0002%	1h	93.120	−0.078%	$697K	$924K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.275	+0.088%	$127K	$32K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.266	+0.078%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.203	+0.010%	$23K	$331K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.200	+0.008%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0005%	4h	93.255	+0.067%	$8.9M	$36.0M	300x	as long as short
Derive HYPE-PERP	+0.0016%	1h	93.141	−0.056%	$16.3M	$7.1M	10x	as long as short
Popdex HYPEUSDT	+0.0016%	1h	93.215	+0.024%	$57K	$1.2M	50x	as long as short
Bybit HYPEUSDT	+0.0031%	8h	93.253	+0.065%	$324.1M	$286.9M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.178	−0.016%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0039%	4h	93.189	−0.004%	$169K	$520K	20x	as long as short
Gate HYPE_USDT	+0.0066%	4h	93.260	+0.072%	$43.7M	$57.6M	75x	as long as short
Bullet HYPE-USD	+0.0083%	1h	93.144	−0.052%	$112K	$579K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.277	+0.090%	$18.5M	$58.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.262	+0.074%	$3.0M	$12.1M	20x	as long as short
MEXC HYPE_USDT	+0.0096%	4h	93.266	+0.078%	$90.5M	$81.5M	100x	as long as short
Binance HYPEUSDT	+0.0098%	4h	93.272	+0.085%	$383.8M	$892.7M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.211	+0.020%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.200	+0.008%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.189	−0.004%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.285	+0.099%	$2.03B	$671.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.242	+0.053%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.236	+0.046%	$114.1M	$314.7M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.884	−0.331%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.271	+0.084%	$47.2M	$19.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.266	+0.078%	$226.0M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.263	+0.075%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.259	+0.071%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.887	−0.328%	$28.9M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.983	−0.225%	$7.5M	$45.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.003	−0.204%	$411K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.000	−0.207%	$673K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.205	+0.013%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.245	+0.056%	$493K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.248	+0.059%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.189	−0.004%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.211	+0.019%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.239	+0.049%	$18.3M	$42.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.190	−0.003%	$396K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0108%	4h	92.923	−0.289%	$5.0M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.170	−0.025%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.170	−0.025%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.183	−0.010%	$78K	$158K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.281	+0.095%	$2.8M	$6.8M	20x	as long as short
HTX HYPE-USDT	+0.0285%	4h	93.308	+0.124%	$1.5M	$7.7M	75x	as long as short
Bluefin HYPE-PERPshort	+0.0304%	1h	93.207	+0.015%	$76K	$168K	20x
BloFin HYPE-USDT	+0.0338%	4h	93.191	−0.002%	$17.0M	$12.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]long	L +0.0340% / S −0.0159%	1h	93.193	long leg	$1.5M	—	100x
Deribit HYPE_USDC-PERPETUAL	+0.0394%	1h	93.291	+0.105%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0466%	1h	93.304	+0.119%	$20.8M	$28.6M	50x	as long as short