HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0365%/8h= −40.0% APRnext payment −$0.46 per $10,000 · paid last 24h −0.102%

Price spread now: Ondo Perps against GMX−0.118%7-day average −0.094% · you buy dearer than you sell

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

Long on GMX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.277%−$28 on $10k

Price spread, last 4 days (all we have)−0.025%−$2 · spread now −0.118%, 7d avg −0.094%

Together, before fees−0.302%+ Points / potential airdropOndo Perps: Active · farm board−$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Ondo Perps is 0.024% cheaper against GMX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.094%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX HYPE/USD [WBTC.b-USDC]	94.501	L +0.0150% / S +0.0022%	pay 0.0019% / 1h	16m 48s	$1.4M	—	100x
Short	Ondo Perps HYPE-USD.P	94.390	−0.0215	pay 0.0027% / 1h	16m 48s	$710K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.118%Rate

Funding earned: −$76.7
Price spread: −0.118% → −0.094%: −$2.38
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$96.07
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Ondo Perps: no order-book sample. 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 Ondo Perps no order-book sample	—	—	—	—	—

GMX and Ondo Perps: 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	−0.1720%	1h	94.369	−0.140%	$202K	$255K	7x	as long as short
Bluefin HYPE-PERP	−0.0393%	1h	94.426	−0.080%	$80K	$152K	20x	as long as short
Ondo Perps HYPE-USD.Pshort	−0.0215%	1h	94.390	−0.118%	$710K	$1.2M	10x
Bullet HYPE-USD	−0.0199%	1h	94.473	−0.030%	$111K	$576K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0153%	1h	94.288	−0.225%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.489	−0.013%	$88K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.433	−0.072%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0061%	1h	94.393	−0.115%	$16.4M	$7.5M	10x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.450	−0.054%	$1.0M	$3.6M	10x	as long as short
Lighter HYPE	−0.0032%	1h	94.453	−0.051%	$16.4M	$64.5M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0019%	8h	94.444	−0.060%	$317.4M	$289.3M	75x	as long as short
BingX HYPE-USDT	−0.0018%	4h	94.454	−0.050%	—	$52.8M	—	as long as short
Orderly PERP_HYPE_USDC	−0.0009%	4h	94.431	−0.074%	$147K	$686K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.464	−0.039%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.530	+0.031%	$1.9M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.117	−0.407%	$208K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.481	−0.021%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.480	−0.022%	$124K	—	150x	as long as short
Polymarket Perps HYPE-USD	+0.0011%	1h	94.480	−0.022%	$498K	$2.8M	20x	as long as short
Bitget HYPEUSDT	+0.0028%	4h	94.436	−0.069%	$226.9M	$100.1M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0034%	8h	94.488	−0.014%	$338K	$154K	20x	as long as short
Phemex HYPEUSDT	+0.0035%	8h	94.457	−0.047%	$12.9M	$2.9M	50x	as long as short
Vest HYPE-PERP	+0.0040%	1h	94.506	+0.005%	—	$190K	5x	as long as short
SoDEX HYPE-USD	+0.0052%	1h	94.456	−0.048%	$2.1M	$1.9M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.440	−0.065%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0066%	8h	94.461	−0.043%	$117.9M	$325.5M	50x	as long as short
edgeX HYPEUSDC	+0.0091%	4h	94.281	−0.233%	$5.0M	$30.7M	30x	as long as short
Gate HYPE_USDT	+0.0094%	4h	94.449	−0.055%	$50.2M	$56.8M	75x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.458	−0.046%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.448	−0.056%	$81K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.440	−0.065%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.465	−0.038%	$7.2M	$53.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.542	+0.043%	$2.08B	$688.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.472	−0.031%	$8.9M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.488	−0.014%	$10.2M	$15.0M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.462	−0.042%	$378.8M	$934.1M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.307	−0.206%	$218K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.469	−0.034%	$89.0M	$84.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.444	−0.060%	$46.9M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.397	−0.110%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.079	−0.447%	$29.4M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.361	−0.148%	$7.6M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.316	−0.196%	$370K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.453	−0.051%	$683K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.500	−0.001%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.543	+0.044%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.425	−0.081%	$18.3M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.420	−0.086%	$399K	$154K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]long	L +0.0150% / S +0.0022%	1h	94.501	long leg	$1.4M	—	100x
Injective HYPE/USDC PERP	+0.0185%	1h	94.740	+0.253%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0194%	1h	94.543	+0.044%	$7.5M	$4.3M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.495	−0.007%	$20.2M	$30.2M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.490	−0.012%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.437	−0.068%	$85K	$120K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.465	−0.038%	$17.1M	$12.4M	75x	as long as short