HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0472%/8h= −51.7% APRnext payment −$0.59 per $10,000 · paid last 24h −0.092%

Price spread now: dYdX against GMX−0.094%7-day average −0.011% · you buy dearer than you sell

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

Long on GMX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.252%−$25 on $10k

Price spread, last 3 days (all we have)+0.041%+$4 · spread now −0.094%, 7d avg −0.011%

Together, before fees−0.211%−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and dYdX is 0.084% cheaper against GMX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.011%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX HYPE/USD [WBTC.b-USDC]	94.212	L +0.0333% / S −0.0155%	pay 0.0042% / 1h	25m 55s	$1.4M	—	100x
Short	dYdX HYPE-USD	94.123	−0.0139	pay 0.0017% / 1h	25m 55s	$129K	$31K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against GMX. 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 GMXbpFee dYdXbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$99.16
Price spread: −0.094% → −0.011%: −$8.39
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$129.55
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; dYdX: live order book, 48 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 dYdX live order book, 48 min ago	9.10 bp	14.1 bp −$14	49.5 bp −$495	583.9 bp −$58.4K	1713.3 bp −$856.6K

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
Hibachi HYPE/USDT-P	−0.1376%	1h	94.105	−0.113%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	94.061	−0.160%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0225%	1h	94.144	−0.072%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0150%	1h	94.090	−0.130%	$711K	$960K	10x	as long as short
dYdX HYPE-USDshort	−0.0139%	1h	94.123	−0.094%	$129K	$31K	5x
Phemex HYPEUSDT	−0.0115%	8h	94.166	−0.049%	$12.8M	$2.6M	50x	as long as short
Bullet HYPE-USD	−0.0102%	1h	94.160	−0.055%	$113K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.172	−0.043%	$86K	$359K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.124	−0.094%	$3K	$331	25x	as long as short
Bybit HYPEUSDT	−0.0020%	8h	94.170	−0.045%	$323.5M	$280.4M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0019%	4h	94.155	−0.061%	$160K	$645K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.135	−0.082%	$23K	$327K	10x	as long as short
Gate HYPE_USDT	+0.0002%	4h	94.180	−0.034%	$44.6M	$59.8M	75x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.206	−0.006%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0020%	4h	94.167	−0.048%	$8.9M	$36.1M	300x	as long as short
Phoenix HYPE	+0.0034%	1h	94.121	−0.097%	$219K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0040%	1h	94.146	−0.070%	$16.5M	$7.3M	10x	as long as short
MEXC HYPE_USDT	+0.0048%	4h	94.181	−0.033%	$89.3M	$82.7M	100x	as long as short
Binance HYPEUSDT	+0.0049%	4h	94.198	−0.015%	$384.2M	$893.3M	75x	as long as short
edgeX HYPEUSDC	+0.0059%	4h	94.004	−0.221%	$5.1M	$29.9M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0079%	8h	94.194	−0.019%	$116.2M	$318.8M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.223	+0.012%	$19.2M	$59.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.184	−0.030%	$3.0M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.168	−0.047%	$66K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.165	−0.050%	$401K	$180K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.195	−0.018%	$342K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.180	−0.034%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.147	−0.069%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.296	+0.089%	$2.06B	$677.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.173	−0.042%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.172	−0.043%	$46.6M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.193	−0.020%	$228.4M	$100.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.169	−0.046%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.159	−0.056%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.149	−0.067%	$31.5M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.088	−0.132%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.057	−0.165%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.130	−0.087%	$681K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.187	−0.026%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.186	−0.028%	$481K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.183	−0.031%	$76K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.246	+0.036%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.195	−0.018%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.151	−0.065%	$205K	$2K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.155	−0.061%	$18.8M	$44.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.030	−0.193%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0198%	4h	94.138	−0.079%	$17.0M	$12.2M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.295%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.210	−0.002%	$2.8M	$6.7M	20x	as long as short
Kalshi KXHYPEPERP	+0.0225%	8h	94.221	+0.009%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0251%	1h	94.167	−0.048%	$79K	$142K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]long	L +0.0333% / S −0.0155%	1h	94.212	long leg	$1.4M	—	100x
HTX HYPE-USDT	+0.0415%	4h	94.349	+0.145%	$1.5M	$6.3M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0429%	1h	94.289	+0.082%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0670%	1h	94.290	+0.083%	$21.1M	$29.7M	50x	as long as short