HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0701%/8h= −76.7% APRnext payment −$0.88 per $10,000 · paid last 24h −0.031%

Price spread now: Reya against Injective−0.598%52s7-day average −0.182% · you buy dearer than you sell

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

Long on Injective Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.665%−$66 on $10k

Price spread, last 4 days (all we have)+0.592%+$59 · spread now −0.598%, 7d avg −0.182%

Together, before fees−0.073%+ Points / potential airdropReya: Active · farm board−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Reya is 0.416% cheaper against Injective than usual: you would sell low and buy high (−$42 if the spread goes back to its 7-day average of −0.182%). Swap the legs. The two prices were read 52 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	Injective HYPE/USDC PERP	95.600	0.0969	pay 0.0121% / 1h	7m 57s	$31K	$334K	12x
Short	Reya HYPERUSDPERP	95.028	0.0268	get 0.0034% / 1h	7m 57s	$85K	$90K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Injective. 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 InjectivebpFee ReyabpOrdersPrice spread, now −0.598%Rate

Funding earned: −$147.17
Price spread: −0.598% → −0.182%: −$41.57
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Reya: 3 bp × 2 orders: −$6
Net: −$194.76
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Injective: live order book, 39 min ago; Reya: 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, 39 min ago	34.14 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 54 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
Phemex HYPEUSDT	−0.0274%	8h	95.130	−0.492%	$13.0M	$2.3M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0252%	1h	95.072	−0.552%	$18.4M	$34.9M	50x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.142	−0.479%	$1.1M	$2.7M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0126%	1h	95.172	−0.448%	$22K	$17K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0106%	1h	94.950	−0.680%	$680K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	95.104	−0.519%	$100K	$349K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.054	−0.571%	$3K	$421	25x	as long as short
Aster HYPEUSDT	−0.0079%	4h	95.066	−0.559%	$9.7M	$34.3M	300x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	95.052	−0.573%	$148K	$642K	20x	as long as short
Gate HYPE_USDT	−0.0062%	4h	95.068	−0.556%	$55.6M	$54.0M	75x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin HYPE-PERP	−0.0060%	1h	95.070	−0.554%	$79K	$132K	20x	as long as short
Bullet HYPE-USD	−0.0058%	1h	95.079	−0.545%	$113K	$583K	20x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.110	−0.513%	$4.8M	$5.5M	50x	as long as short
OKX HYPE-USDT-SWAP	−0.0031%	8h	95.045	−0.581%	$119.1M	$303.2M	50x	as long as short
Bitget HYPEUSDT	−0.0024%	4h	95.087	−0.537%	$230.3M	$86.2M	75x	as long as short
Phoenix HYPE	−0.0008%	1h	95.181	−0.438%	$198K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	95.022	−0.605%	$24K	$251K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.100	−0.523%	$99K	—	150x	as long as short
Lighter HYPE	+0.0016%	1h	95.060	−0.565%	$16.6M	$58.9M	20x	as long as short
Bybit HYPEUSDT	+0.0033%	8h	95.060	−0.565%	$320.8M	$262.9M	75x	as long as short
Binance HYPEUSDT	+0.0045%	4h	95.085	−0.538%	$382.7M	$848.7M	75x	as long as short
MEXC HYPE_USDT	+0.0046%	4h	95.067	−0.558%	$90.5M	$84.8M	100x	as long as short
edgeX HYPEUSDC	+0.0046%	4h	95.146	−0.475%	$5.1M	$27.9M	30x	as long as short
BingX HYPE-USDT	+0.0052%	4h	95.066	−0.559%	—	$49.1M	—	as long as short
Popdex HYPEUSDT	+0.0056%	1h	95.081	−0.543%	$274K	$999K	50x	as long as short
dYdX HYPE-USD	+0.0066%	1h	95.118	−0.504%	$128K	$96K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0089%	8h	95.129	−0.493%	$339K	$30K	20x	as long as short
ApeX Omni HYPEUSDT	+0.0092%	1h	95.188	−0.431%	$324K	$926K	50x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.087	−0.537%	$3.2M	$10.4M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	95.066	−0.558%	$402K	$125K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.100	−0.523%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.115	−0.507%	$7.3M	$50.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.142	−0.479%	$10.3M	$13.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.233	−0.384%	$229K	$20K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.063	−0.562%	$47.6M	$17.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.029	−0.597%	$6.9M	$12.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.971	−0.658%	$29.7M	$52.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.037	−0.589%	$7.7M	$40.4M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.079	−0.545%	$692K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.148	−0.473%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.120	−0.502%	$504K	$2.4M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.147	−0.474%	$32K	$1.4M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	95.058	−0.567%	$2.1M	$335K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.184	−0.435%	$1.4M	$5.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.017	−0.610%	$18.3M	$38.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0121%	8h	95.202	−0.416%	$1.8M	$5.0M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.103	−0.520%	$3.1M	$5.2M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0139%	1h	95.151	−0.470%	$7.5M	$4.2M	50x	as long as short
Hyperliquid HYPE	+0.0151%	1h	95.171	−0.448%	$2.11B	$643.8M	10x	as long as short
BloFin HYPE-USDT	+0.0194%	4h	95.035	−0.591%	$17.5M	$11.6M	75x	as long as short
Reya HYPERUSDPERPshort	+0.0268%	1h	95.028	−0.598%	$85K	$90K	15x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.052	−0.573%	$1.4M	—	100x	as long as short
Hibachi HYPE/USDT-P	+0.0704%	1h	95.101	−0.522%	$216K	$278K	7x	as long as short
Injective HYPE/USDC PERPlong	+0.0969%	1h	95.600	long leg	$31K	$334K	12x