HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0231%/8h= −25.3% APRnext payment −$0.29 per $10,000 · paid last 24h −0.021%

Price spread now: Hyperliquid against GMX+0.035%7-day average +0.036% · you sell dearer than you buy

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

Long on GMX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.133%−$13 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.035%, 7d avg +0.036%

Together, before fees−0.170%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.036%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX HYPE/USD [WBTC.b-USDC]	93.426	L +0.0331% / S −0.0156%	pay 0.0041% / 1h	35m 16s	$1.4M	—	100x
Short	Hyperliquid HYPE	93.459	0.0100	get 0.0013% / 1h	35m 16s	$2.04B	$653.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$48.57
Price spread: +0.035% → +0.036%: −$0.1
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$69.68
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Hyperliquid: live order book, 9 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 Hyperliquid live order book, 9 min ago	0.05 bp	4.6 bp −$5	5.0 bp −$50	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
Hibachi HYPE/USDT-P	−0.1296%	1h	93.292	−0.143%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.240	−0.199%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0099%	1h	93.300	−0.135%	$699K	$982K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.355	−0.076%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0062%	8h	93.367	−0.063%	$12.6M	$2.7M	50x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.384	−0.045%	$85K	$344K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0055%	1h	93.379	−0.051%	$22K	$21K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0044%	4h	93.361	−0.070%	$154K	$640K	20x	as long as short
Bullet HYPE-USD	−0.0007%	1h	93.398	−0.030%	$112K	$577K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.361	−0.070%	$128K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.408	−0.019%	$23K	$322K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.413	−0.014%	$62K	—	150x	as long as short
Aster HYPEUSDT	+0.0020%	4h	93.375	−0.055%	$8.8M	$35.5M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.393	−0.035%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0026%	4h	93.387	−0.042%	—	$53.0M	—	as long as short
Bybit HYPEUSDT	+0.0030%	8h	93.381	−0.048%	$321.3M	$277.1M	75x	as long as short
Gate HYPE_USDT	+0.0052%	4h	93.392	−0.036%	$44.6M	$54.8M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0078%	8h	93.390	−0.039%	$114.1M	$302.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.376	−0.053%	$16.3M	$61.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.397	−0.031%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.377	−0.053%	$69K	$1.2M	50x	as long as short
MEXC HYPE_USDT	+0.0096%	4h	93.387	−0.042%	$89.9M	$80.7M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.391	−0.038%	$339K	$162K	20x	as long as short
Binance HYPEUSDT	+0.0098%	4h	93.397	−0.031%	$378.8M	$876.2M	75x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.380	−0.049%	$17K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.377	−0.052%	$5.8M	$43.3M	10x	as long as short
Hyperliquid HYPEshort	+0.0100%	1h	93.459	+0.035%	$2.04B	$653.5M	10x
Pacifica HYPE	+0.0100%	1h	93.382	−0.047%	$10.0M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.364	−0.066%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.405	−0.023%	$45.9M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.398	−0.030%	$225.8M	$96.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.377	−0.053%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.367	−0.063%	$31.1M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.365	−0.066%	$7.5M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.333	−0.100%	$339K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.388	−0.041%	$666K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.432	+0.007%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.425	−0.001%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.371	−0.059%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.373	−0.057%	$16.2M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.399	−0.029%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.401	−0.027%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.329	−0.104%	$18.4M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.389	−0.040%	$397K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0110%	4h	93.315	−0.119%	$5.1M	$29.7M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.420	−0.006%	$4.8M	$5.6M	50x	as long as short
HTX HYPE-USDT	+0.0194%	4h	93.546	+0.128%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0258%	1h	93.384	−0.045%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0277%	8h	93.458	+0.034%	$1.9M	$5.0M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]long	L +0.0331% / S −0.0156%	1h	93.426	long leg	$1.4M	—	100x
BloFin HYPE-USDT	+0.0336%	4h	93.364	−0.066%	$17.0M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0360%	1h	93.481	+0.059%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.461	+0.037%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.220	−0.221%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.444	+0.019%	$20.8M	$29.9M	50x	as long as short