HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0303%/8h= −33.1% APRnext payment −$0.38 per $10,000 · paid last 24h −0.094%

Price spread now: Hotstuff against Kraken Futures−0.081%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Hotstuff

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

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Hotstuff is 0.081% cheaper against Kraken Futures than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_HYPEUSD	94.476	0.0223	pay 0.0028% / 1h	18m 12s	$20.2M	$30.2M	50x
Short	Hotstuff HYPE-PERP	94.400	−0.0080	pay 0.0010% / 1h	18m 12s	$3K	$331	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.081%Rate

Funding earned: −$63.56
Price spread: −0.081% → 0.000%: −$8.06
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$86.61
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 6 min ago; Hotstuff: 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 Kraken Futures live order book, 6 min ago	0.05 bp	5.6 bp −$6	8.7 bp −$87	13.8 bp −$1,383	60.1 bp −$30.1K
Sell Hotstuff no order-book sample	—	—	—	—	—

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	−0.1712%	1h	94.261	−0.228%	$202K	$255K	7x	as long as short
Bluefin HYPE-PERP	−0.0396%	1h	94.453	−0.024%	$80K	$152K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0214%	1h	94.300	−0.186%	$710K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0208%	1h	94.443	−0.035%	$111K	$576K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0148%	1h	94.242	−0.248%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.488	+0.013%	$88K	$367K	20x	as long as short
Hotstuff HYPE-PERPshort	−0.0080%	1h	94.400	−0.081%	$3K	$331	25x
Derive HYPE-PERP	−0.0061%	1h	94.393	−0.088%	$16.4M	$7.5M	10x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.422	−0.057%	$1.0M	$3.6M	10x	as long as short
Lighter HYPE	−0.0032%	1h	94.434	−0.045%	$16.4M	$64.5M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	−0.0020%	4h	94.439	−0.039%	—	$52.7M	—	as long as short
Orderly PERP_HYPE_USDC	−0.0009%	4h	94.440	−0.038%	$147K	$686K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.387	−0.094%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.516	+0.042%	$1.9M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.117	−0.380%	$208K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.468	−0.009%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.489	+0.014%	$124K	—	150x	as long as short
Polymarket Perps HYPE-USD	+0.0008%	1h	94.490	+0.015%	$498K	$2.8M	20x	as long as short
Bybit HYPEUSDT	+0.0017%	8h	94.425	−0.054%	$317.4M	$289.3M	75x	as long as short
Bitget HYPEUSDT	+0.0028%	4h	94.422	−0.057%	$226.9M	$100.1M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0033%	8h	94.465	−0.012%	$338K	$154K	20x	as long as short
Phemex HYPEUSDT	+0.0036%	8h	94.399	−0.082%	$12.9M	$2.9M	50x	as long as short
Vest HYPE-PERP	+0.0040%	1h	94.489	+0.013%	—	$190K	5x	as long as short
SoDEX HYPE-USD	+0.0051%	1h	94.459	−0.018%	$2.1M	$1.9M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.440	−0.038%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0066%	8h	94.432	−0.047%	$117.9M	$325.4M	50x	as long as short
Gate HYPE_USDT	+0.0092%	4h	94.436	−0.042%	$50.2M	$56.8M	75x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	93.993	−0.511%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.450	−0.028%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.442	−0.036%	$81K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.440	−0.038%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.443	−0.035%	$7.2M	$53.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.524	+0.051%	$2.08B	$687.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.452	−0.025%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.459	−0.018%	$10.2M	$15.0M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.468	−0.008%	$378.8M	$934.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.307	−0.179%	$218K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.457	−0.020%	$89.1M	$84.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.449	−0.029%	$46.9M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.400	−0.081%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.079	−0.421%	$29.4M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.093	−0.406%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.028	−0.474%	$369K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.315	−0.171%	$682K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.526	+0.053%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.550	+0.078%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.444	−0.034%	$18.3M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.468	−0.009%	$399K	$154K	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0110%	1h	94.540	+0.068%	$7.5M	$4.3M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0022%	1h	94.497	+0.022%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.740	+0.279%	$31K	$340K	12x	as long as short
Kraken Futures PF_HYPEUSDlong	+0.0223%	1h	94.476	long leg	$20.2M	$30.2M	50x
RISEx HYPE/USDC	+0.0249%	1h	94.462	−0.015%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.451	−0.027%	$85K	$120K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.362	−0.121%	$17.2M	$12.4M	75x	as long as short