HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0106%/8h= +11.6% APRnext payment +$0.13 per $10,000 · paid last 24h +0.067%

Price spread now: Phoenix against Hotstuff−0.092%53s7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Phoenix is 0.092% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.092% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 2.9 days of funding at the current rate (+$3 a day). The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff HYPE-PERP	93.479	−0.0080	get 0.0010% / 1h	32m 36s	$3K	$331	25x
Short	Phoenix HYPE	93.393	0.0026	get 0.0003% / 1h	32m 36s	$213K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Hotstuff. 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 HotstuffbpFee PhoenixbpOrdersPrice spread, now −0.092%Rate

Funding earned: $22.21
Price spread: −0.092% → 0.000%: −$9.2
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $1.01
Costs to cover: 0.120%
Break-even: 6.7 days

Slippage unknown: Hotstuff: no order-book sample; Phoenix: live order book, 1 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 1 min ago	1.39 bp	6.0 bp −$6	9.9 bp −$99	138.8 bp −$13.9K	doesn't fit

Hotstuff: 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	−0.1288%	1h	93.317	−0.173%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.353	−0.135%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0104%	1h	93.320	−0.170%	$699K	$996K	10x	as long as short
Hotstuff HYPE-PERPlong	−0.0080%	1h	93.479	long leg	$3K	$331	25x
Phemex HYPEUSDT	−0.0073%	8h	93.467	−0.013%	$12.6M	$2.7M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0058%	1h	93.411	−0.073%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.484	+0.005%	$85K	$344K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0043%	4h	93.498	+0.020%	$154K	$647K	20x	as long as short
Bullet HYPE-USD	−0.0005%	1h	93.477	−0.002%	$111K	$578K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.478	−0.001%	$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	93.470	−0.010%	$23K	$322K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.505	+0.027%	$62K	—	150x	as long as short
Aster HYPEUSDT	+0.0025%	4h	93.458	−0.023%	$8.8M	$35.5M	300x	as long as short
Phoenix HYPEshort	+0.0026%	1h	93.393	−0.092%	$213K	$1.2M	10x
BingX HYPE-USDT	+0.0026%	4h	93.446	−0.035%	—	$53.0M	—	as long as short
Bybit HYPEUSDT	+0.0032%	8h	93.432	−0.050%	$321.4M	$277.3M	75x	as long as short
Gate HYPE_USDT	+0.0050%	4h	93.440	−0.042%	$44.6M	$54.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0077%	8h	93.443	−0.039%	$114.2M	$302.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.469	−0.011%	$16.3M	$61.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.455	−0.026%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.470	−0.010%	$69K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.492	+0.014%	$340K	$162K	20x	as long as short
MEXC HYPE_USDT	+0.0098%	4h	93.442	−0.040%	$89.8M	$80.8M	100x	as long as short
edgeX HYPEUSDC	+0.0100%	4h	93.360	−0.127%	$5.1M	$29.7M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.470	−0.010%	$17K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.485	+0.006%	$5.8M	$43.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.518	+0.042%	$2.04B	$654.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.481	+0.002%	$10.1M	$14.6M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.442	−0.040%	$378.9M	$876.1M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.364	−0.123%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.470	−0.010%	$46.0M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.455	−0.026%	$226.0M	$96.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.444	−0.037%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.367	−0.120%	$31.1M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.422	−0.061%	$7.5M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.349	−0.139%	$339K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.403	−0.081%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.521	+0.045%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.525	+0.049%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.467	−0.013%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.466	−0.013%	$16.2M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.540	+0.065%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.500	+0.022%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.438	−0.043%	$18.4M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.486	+0.007%	$398K	$162K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.580	+0.108%	$4.8M	$5.6M	50x	as long as short
HTX HYPE-USDT	+0.0190%	4h	93.650	+0.183%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0258%	1h	93.484	+0.006%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0278%	8h	93.511	+0.034%	$1.9M	$5.0M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.508	+0.031%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.487	+0.009%	$17.0M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0359%	1h	93.583	+0.111%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.559	+0.086%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.370	−0.117%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0684%	1h	93.553	+0.079%	$20.8M	$29.7M	50x	as long as short