HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0228%/8h= −24.9% APRnext payment −$0.28 per $10,000 · paid last 24h −0.051%

Price spread now: GMX against Injective+0.081%7-day average −0.141% · you sell dearer than you buy

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

Long on Injective Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.599%−$60 on $10k

Price spread, last 4 days (all we have)+0.183%+$18 · spread now +0.081%, 7d avg −0.141%

Together, before fees−0.416%−$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GMX is 0.222% dearer against Injective than usual: you sell high and buy low (spread +0.081% now, against its 7-day average of −0.141%): +$22 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 3.3 days. At the pace of the last 3 days (−0.599% in total) that is about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective HYPE/USDC PERP	94.150	0.0205	pay 0.0026% / 1h	3m 08s	$30K	$340K	12x
Short	GMX HYPE/USD [WBTC.b-USDC]	94.226	L +0.0151% / S +0.0023%	pay 0.0003% / 1h	3m 08s	$1.4M	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Injective. 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 InjectivebpFee GMXbpOrdersPrice spread, now +0.081%Rate

Funding earned: −$47.78
Price spread: +0.081% → −0.141%: $22.23
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee GMX: 6 bp × 2 orders: −$12
Net: −$37.56
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: live order book, 41 min ago; GMX: 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 Injective live order book, 41 min ago	56.93 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	−0.1088%	1h	94.070	−0.085%	$201K	$235K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0165%	1h	94.260	+0.117%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0106%	1h	94.100	−0.053%	$710K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.200	+0.053%	$3K	$331	25x	as long as short
Bluefin HYPE-PERP	−0.0078%	1h	94.127	−0.024%	$80K	$155K	20x	as long as short
Bullet HYPE-USD	−0.0074%	1h	94.175	+0.027%	$111K	$578K	20x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	94.196	+0.049%	$87K	$366K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0009%	4h	94.144	−0.006%	$146K	$685K	20x	as long as short
Bybit HYPEUSDT	−0.0008%	8h	94.220	+0.074%	$317.4M	$289.5M	75x	as long as short
BingX HYPE-USDT	−0.0004%	4h	94.212	+0.066%	—	$53.5M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	94.178	+0.030%	$129K	$26K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.262	+0.119%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.188	+0.041%	$19K	$287K	10x	as long as short
Derive HYPE-PERP	+0.0001%	1h	94.110	−0.043%	$16.4M	$7.5M	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.180	+0.032%	$117K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.230	+0.085%	$206K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0048%	4h	94.200	+0.053%	$226.6M	$100.1M	75x	as long as short
Phemex HYPEUSDT	+0.0056%	8h	94.221	+0.075%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0064%	8h	94.226	+0.081%	$337K	$156K	20x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	94.163	+0.013%	$5.0M	$30.7M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.170	+0.021%	$1.0M	$3.5M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0093%	8h	94.221	+0.075%	$116.9M	$321.5M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.235	+0.090%	$16.3M	$64.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.215	+0.069%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.175	+0.027%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.210	+0.064%	$15K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.174	+0.026%	$7.3M	$50.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.274	+0.132%	$2.07B	$688.3M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.208	+0.062%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.226	+0.081%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.233	+0.088%	$377.1M	$931.9M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.183	+0.035%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.170	+0.021%	$49.4M	$57.2M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.238	+0.093%	$89.6M	$85.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.175	+0.027%	$46.9M	$18.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.197	+0.050%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.239	+0.094%	$29.1M	$55.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.188	+0.041%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.175	+0.027%	$347K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.172	+0.023%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.238	+0.094%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.198	+0.051%	$495K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.219	+0.073%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.184	+0.036%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.322	+0.183%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.142	−0.009%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.192	+0.044%	$398K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.190	+0.042%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]short	L +0.0151% / S +0.0023%	1h	94.226	+0.081%	$1.4M	—	100x
Injective HYPE/USDC PERPlong	+0.0205%	1h	94.150	long leg	$30K	$340K	12x
Deribit HYPE_USDC-PERPETUAL	+0.0228%	1h	94.269	+0.126%	$7.4M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.152	+0.002%	$82K	$134K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.215	+0.069%	$17.0M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0413%	1h	94.264	+0.121%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.218	+0.072%	$3.2M	$6.4M	20x	as long as short