HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0900%/8h= +98.5% APRnext payment +$1.13 per $10,000 · paid last 24h −0.308%

Price spread now: Hibachi against Hyperliquid+0.005%7-day average −0.115% · you sell dearer than you buy

Net, funding: paid 7d − costs−$241as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$590.590% of the position

Long on Hyperliquid Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−1.823%−$182 on $10k

Price spread, last 4 days (all we have)+0.107%+$11 · spread now +0.005%, 7d avg −0.115%

Together, before fees−1.716%+ Points / potential airdropHyperliquid: Season 2 · Hibachi: Active · farm board−$172 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$27 a day on $10k at the current rate, and Hibachi is 0.120% dearer against Hyperliquid than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.115%. Mind the row above: over the last 7 days funding on this pair cost −1.823%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid HYPE	94.904	0.0100	pay 0.0013% / 1h	48m 45s	$2.10B	$643.3M	10x
Short	Hibachi HYPE/USDT-P	94.909	0.1000	get 0.0125% / 1h	48m 45s	$214K	$277K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Hyperliquid. 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 HyperliquidbpFee HibachibpOrdersPrice spread, now +0.005%Rate

Funding earned: $189
Price spread: +0.005% → −0.115%: $11.96
Slippage, 4 orders: −$40.96
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: $142
Costs to cover: 0.590%
Break-even: 1.7 days

Slippage from Hyperliquid: live order book, 8 min ago; Hibachi: live order book, 58 min ago.

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 Hyperliquid live order book, 8 min ago	0.05 bp	4.6 bp −$5	6.5 bp −$65	doesn't fit	doesn't fit
Sell Hibachi live order book, 58 min ago	2.90 bp	31.6 bp −$32	63.1 bp −$631	doesn't fit	doesn't fit

HYPE on 55 exchanges

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
Kraken Futures PF_HYPEUSD	−0.0282%	1h	94.632	−0.287%	$18.2M	$32.7M	50x	as long as short
Bluefin HYPE-PERP	−0.0247%	1h	94.557	−0.366%	$79K	$131K	20x	as long as short
Phemex HYPEUSDT	−0.0231%	8h	94.648	−0.270%	$12.9M	$2.2M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0196%	1h	94.770	−0.141%	$677K	$1.3M	10x	as long as short
Lighter HYPE	−0.0120%	1h	94.886	−0.019%	$16.5M	$55.3M	20x	as long as short
Aster HYPEUSDT	−0.0104%	4h	94.845	−0.062%	$9.0M	$34.6M	300x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	94.682	−0.234%	$102K	$351K	20x	as long as short
Gate HYPE_USDT	−0.0082%	4h	94.816	−0.093%	$55.9M	$52.7M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.894	−0.011%	$3K	$421	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0075%	4h	94.582	−0.339%	$147K	$643K	20x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International HYPE-PERP-INTX	−0.0064%	1h	94.620	−0.299%	$4.7M	$5.4M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0058%	1h	94.948	+0.046%	$22K	$17K	10x	as long as short
OKX HYPE-USDT-SWAP	−0.0044%	8h	94.886	−0.019%	$118.9M	$304.4M	50x	as long as short
Bitget HYPEUSDT	−0.0028%	4h	94.855	−0.052%	$229.8M	$86.1M	75x	as long as short
Phoenix HYPE	−0.0017%	1h	94.778	−0.133%	$199K	$1.1M	10x	as long as short
Bullet HYPE-USD	−0.0004%	1h	94.635	−0.283%	$113K	$585K	20x	as long as short
ApeX Omni HYPEUSDT	−0.0001%	1h	94.773	−0.138%	$323K	$924K	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.871	−0.035%	$128K	$96K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.643	−0.275%	$24K	$248K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.640	−0.278%	$99K	—	150x	as long as short
Derive HYPE-PERP	+0.0016%	1h	94.541	−0.383%	$16.3M	$7.0M	10x	as long as short
edgeX HYPEUSDC	+0.0021%	4h	94.769	−0.142%	$5.0M	$28.0M	30x	as long as short
Bybit HYPEUSDT	+0.0026%	8h	94.910	+0.006%	$320.4M	$263.3M	75x	as long as short
Binance HYPEUSDT	+0.0026%	4h	94.847	−0.060%	$382.4M	$851.4M	75x	as long as short
MEXC HYPE_USDT	+0.0028%	4h	94.893	−0.012%	$88.6M	$82.7M	100x	as long as short
BingX HYPE-USDT	+0.0034%	4h	94.845	−0.062%	—	$49.7M	—	as long as short
Popdex HYPEUSDT	+0.0040%	1h	94.685	−0.231%	$273K	$998K	50x	as long as short
Backpack HYPE_USDC_PERP	+0.0041%	1h	94.662	−0.255%	$6.8M	$12.3M	20x	as long as short
SoDEX HYPE-USD	+0.0055%	1h	94.740	−0.173%	$2.1M	$335K	10x	as long as short
Lighter RH HYPE	+0.0056%	1h	94.874	−0.032%	$3.2M	$9.9M	20x	as long as short
KuCoin HYPEUSDTM	+0.0084%	4h	94.893	−0.012%	$47.4M	$17.7M	75x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	94.586	−0.335%	$400K	$125K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0092%	8h	94.912	+0.009%	$339K	$31K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	94.600	−0.320%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.582	−0.339%	$7.2M	$50.1M	10x	as long as short
Hyperliquid HYPElong	+0.0100%	1h	94.904	long leg	$2.10B	$643.3M	10x
Pacifica HYPE	+0.0100%	1h	94.915	+0.011%	$10.2M	$12.8M	20x	as long as short
Arcus HYPE-USD	+0.0100%	1h	94.848	−0.059%	$1.0M	$2.8M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.036	+0.139%	$228K	$20K	10x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.740	−0.173%	$30.0M	$52.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.770	−0.142%	$7.7M	$41.1M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.854	−0.053%	$690K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.735	−0.178%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.673	−0.243%	$496K	$2.4M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.657	−0.260%	$32K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.751	−0.161%	$1.4M	$5.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.758	−0.154%	$18.2M	$37.6M	50x	as long as short
BloFin HYPE-USDT	+0.0116%	4h	94.606	−0.314%	$17.5M	$11.5M	75x	as long as short
Kalshi KXHYPEPERP	+0.0118%	8h	94.721	−0.193%	$1.8M	$5.1M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0120%	1h	94.694	−0.221%	$7.5M	$4.2M	50x	as long as short
RISEx HYPE/USDC	+0.0138%	1h	94.642	−0.276%	$3.1M	$5.2M	20x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	94.636	−0.283%	$84K	$90K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	94.662	−0.256%	$1.4M	—	100x	as long as short
Hibachi HYPE/USDT-Pshort	+0.1000%	1h	94.909	+0.005%	$214K	$277K	7x
Injective HYPE/USDC PERP	+0.1234%	1h	95.420	+0.544%	$31K	$334K	12x	as long as short