HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0233%/8h= −25.6% APRnext payment −$0.29 per $10,000 · paid last 24h −0.064%

Price spread now: SoDEX against GMX−0.005%7-day average −0.016% · you buy dearer than you sell

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

Long on GMX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.196%−$20 on $10k

Price spread, last 4 days (all we have)−0.081%−$8 · spread now −0.005%, 7d avg −0.016%

Together, before fees−0.277%−$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.016%, 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]	94.406	L +0.0333% / S −0.0154%	pay 0.0042% / 1h	6m 41s	$1.4M	—	100x
Short	SoDEX HYPE-USD	94.401	0.0100	get 0.0013% / 1h	6m 41s	$2.0M	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$49.03
Price spread: −0.005% → −0.016%: $1.06
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$67.97
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; SoDEX: live order book, 2 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 SoDEX live order book, 2 min ago	0.11 bp	7.1 bp −$7	12.5 bp −$125	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	−0.1304%	1h	94.216	−0.201%	$200K	$239K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0343%	1h	94.218	−0.199%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.343	−0.066%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0014%	4h	94.385	−0.022%	$147K	$677K	20x	as long as short
Bullet HYPE-USD	−0.0002%	1h	94.421	+0.016%	$113K	$580K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.351	−0.058%	$129K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	94.425	+0.020%	$87K	$373K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.405	−0.001%	$22K	$291K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	94.410	+0.004%	$63K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	94.401	−0.005%	$1.0M	$4.0M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	+0.0016%	4h	94.417	+0.012%	—	$53.7M	—	as long as short
Bybit HYPEUSDT	+0.0021%	8h	94.410	+0.004%	$319.1M	$286.9M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	94.363	−0.045%	$211K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0027%	8h	94.336	−0.074%	$12.8M	$2.8M	50x	as long as short
Bitget HYPEUSDT	+0.0032%	4h	94.422	+0.017%	$227.8M	$99.4M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0071%	1h	94.350	−0.059%	$711K	$1.2M	10x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	94.262	−0.153%	$5.0M	$30.3M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	94.454	+0.051%	$343K	$158K	20x	as long as short
Lighter HYPE	+0.0096%	1h	94.419	+0.014%	$16.4M	$63.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.418	+0.013%	$3.2M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.384	−0.023%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.360	−0.048%	$30K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.349	−0.060%	$7.1M	$49.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.500	+0.100%	$2.07B	$679.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.410	+0.004%	$8.8M	$36.6M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.438	+0.034%	$10.2M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.421	+0.016%	$379.5M	$924.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.415	+0.010%	$116.6M	$318.0M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.383	−0.024%	$48.3M	$55.7M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.424	+0.019%	$90.3M	$82.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.422	+0.017%	$46.6M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.426	+0.021%	$7.3M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.239	−0.177%	$28.9M	$56.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.322	−0.089%	$7.7M	$48.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.302	−0.110%	$344K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.291	−0.122%	$675K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.434	+0.030%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.423	+0.018%	$479K	$2.8M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.666	+0.276%	$80K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	94.390	−0.017%	$16.3M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.480	+0.079%	$33K	$1.6M	20x	as long as short
SoDEX HYPE-USDshort	+0.0100%	1h	94.401	−0.005%	$2.0M	$1.9M	10x
HTX HYPE-USDT	+0.0100%	4h	94.500	+0.100%	$1.4M	$6.6M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.197	−0.221%	$217K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.369	−0.039%	$18.2M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.388	−0.019%	$399K	$159K	20x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	94.510	+0.110%	$31K	$339K	12x	as long as short
Kalshi KXHYPEPERP	+0.0124%	8h	94.428	+0.024%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.450	+0.047%	$4.7M	$6.1M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0227%	1h	94.481	+0.080%	$7.5M	$4.1M	50x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	94.399	−0.007%	$78K	$130K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]long	L +0.0333% / S −0.0154%	1h	94.406	long leg	$1.4M	—	100x
Kraken Futures PF_HYPEUSD	+0.0337%	1h	94.468	+0.066%	$21.1M	$29.6M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.413	+0.008%	$16.9M	$12.3M	75x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	94.430	+0.026%	$3.2M	$6.3M	20x	as long as short