HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0312%/8h= −34.2% APRnext payment −$0.39 per $10,000 · paid last 24h −0.038%

Price spread now: ApeX Omni against Kraken Futures−0.057%45s7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$350.346% of the position

Long on Kraken Futures Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.119%−$12 on $10k

Price spread, last 4 days (all we have)−0.065%−$7 · spread now −0.057%, 7d avg −0.042%

Together, before fees−0.184%−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.042%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.119% in total (about -6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.39 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_HYPEUSD	94.315	0.0412	pay 0.0052% / 1h	15m 20s	$20.2M	$30.4M	50x
Short	ApeX Omni HYPEUSDT	94.261	0.0100	get 0.0013% / 1h	15m 20s	$363K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Kraken Futures. 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 Kraken FuturesbpFee ApeX OmnibpOrdersPrice spread, now −0.057%Rate

Funding earned: −$65.59
Price spread: −0.057% → −0.042%: −$1.48
Slippage, 4 orders: −$14.59
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$101.66
Costs to cover: 0.346%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; ApeX Omni: live order book, 4 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 Kraken Futures live order book, 4 min ago	2.38 bp	9.0 bp −$9	10.2 bp −$102	18.0 bp −$1,802	53.5 bp −$26.7K
Sell ApeX Omni live order book, 4 min ago	2.01 bp	8.5 bp −$8	12.6 bp −$126	doesn't fit	doesn't fit

HYPE on 54 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	−0.1112%	1h	94.144	−0.181%	$200K	$236K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0181%	1h	94.241	−0.078%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.262	−0.056%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0060%	1h	94.253	−0.066%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0054%	1h	94.230	−0.090%	$709K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	94.319	+0.004%	$86K	$368K	20x	as long as short
Bluefin HYPE-PERP	−0.0018%	1h	94.319	+0.004%	$80K	$155K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0012%	4h	94.299	−0.017%	$146K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.284	−0.033%	$129K	$26K	5x	as long as short
Bybit HYPEUSDT	0.0000%	8h	94.304	−0.012%	$317.4M	$289.7M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXHYPEPERP	0.0000%	8h	94.308	−0.007%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.359	+0.047%	$19K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.279	−0.038%	$84K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.307	−0.008%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0054%	4h	94.326	+0.012%	$227.4M	$99.4M	75x	as long as short
Phemex HYPEUSDT	+0.0057%	8h	94.184	−0.139%	$12.8M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0079%	8h	94.334	+0.020%	$337K	$156K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.277	−0.040%	$1.0M	$3.5M	10x	as long as short
edgeX HYPEUSDC	+0.0084%	4h	94.260	−0.058%	$5.0M	$30.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.300	−0.016%	$16.3M	$64.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.300	−0.016%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.298	−0.018%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.320	+0.005%	$17K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.355	+0.043%	$7.6M	$50.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.442	+0.135%	$2.08B	$688.1M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.321	+0.006%	$8.8M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.322	+0.008%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.325	+0.011%	$377.3M	$932.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.323	+0.009%	$116.1M	$319.0M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.338	+0.025%	$49.3M	$56.9M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.372	+0.061%	$90.3M	$85.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.347	+0.034%	$46.9M	$18.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.330	+0.016%	—	$53.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.273	−0.044%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.209	−0.113%	$29.1M	$55.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.298	−0.018%	$7.6M	$47.6M	10x	as long as short
ApeX Omni HYPEUSDTshort	+0.0100%	1h	94.261	−0.057%	$363K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	94.278	−0.039%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.388	+0.077%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.357	+0.045%	$496K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.332	+0.018%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.255	−0.063%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.411	+0.102%	$1.4M	$6.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.275	−0.042%	$218K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.262	−0.056%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.412	+0.103%	$399K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.270	−0.048%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.369	+0.058%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.610	+0.313%	$31K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0259%	1h	94.334	+0.020%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.326	+0.012%	$78K	$129K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.245	−0.074%	$16.9M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSDlong	+0.0412%	1h	94.315	long leg	$20.2M	$30.4M	50x
RISEx HYPE/USDC	+0.0559%	1h	94.359	+0.047%	$3.2M	$6.4M	20x	as long as short