HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0049%/8h= +5.4% APRnext payment +$0.06 per $10,000 · paid last 24h −0.001%

Price spread now: Reya against Kraken Futures−0.072%7-day average −0.065% · you buy dearer than you sell

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

Long on Kraken Futures Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.067%−$7 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now −0.072%, 7d avg −0.065%

Together, before fees−0.026%+ Points / potential airdropReya: Active · farm board−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.065%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.067%, 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	Kraken Futures PF_HYPEUSD	94.509	0.0223	pay 0.0028% / 1h	3m 48s	$20.2M	$30.2M	50x
Short	Reya HYPERUSDPERP	94.441	0.0272	get 0.0034% / 1h	3m 48s	$83K	$121K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Kraken Futures. 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 Kraken FuturesbpFee ReyabpOrdersPrice spread, now −0.072%Rate

Funding earned: $10.34
Price spread: −0.072% → −0.065%: −$0.77
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$6.44
Costs to cover: 0.160%
Break-even: 11.4 days

Slippage unknown: Kraken Futures: live order book, 5 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 Kraken Futures live order book, 5 min ago	0.05 bp	5.7 bp −$6	8.2 bp −$82	15.7 bp −$1,567	62.0 bp −$31.0K
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 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	−0.1536%	1h	94.468	−0.044%	$207K	$268K	7x	as long as short
Bluefin HYPE-PERP	−0.0384%	1h	94.429	−0.085%	$80K	$151K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0205%	1h	94.380	−0.137%	$712K	$1.2M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0194%	1h	94.457	−0.055%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0184%	1h	94.460	−0.053%	$112K	$575K	20x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.507	−0.002%	$88K	$363K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.451	−0.062%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.438	−0.075%	$1.0M	$3.5M	10x	as long as short
Derive HYPE-PERP	−0.0027%	1h	94.383	−0.134%	$16.4M	$7.3M	10x	as long as short
Bybit HYPEUSDT	−0.0019%	8h	94.470	−0.042%	$317.8M	$288.5M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0006%	4h	94.455	−0.057%	$147K	$686K	20x	as long as short
Lighter HYPE	0.0000%	1h	94.462	−0.050%	$16.4M	$64.8M	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.466	−0.046%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.521	+0.012%	$1.9M	$5.5M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.443	−0.070%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.478	−0.033%	$19K	$286K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.490	−0.020%	$124K	—	150x	as long as short
Bitget HYPEUSDT	+0.0016%	4h	94.467	−0.045%	$226.9M	$100.3M	75x	as long as short
Polymarket Perps HYPE-USD	+0.0021%	1h	94.480	−0.031%	$498K	$2.8M	20x	as long as short
Phemex HYPEUSDT	+0.0043%	8h	94.455	−0.057%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0044%	8h	94.457	−0.056%	$337K	$154K	20x	as long as short
SoDEX HYPE-USD	+0.0050%	1h	94.460	−0.052%	$2.1M	$1.9M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.520	+0.011%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0067%	8h	94.466	−0.046%	$118.0M	$325.5M	50x	as long as short
Vest HYPE-PERP	+0.0072%	1h	94.520	+0.011%	—	$190K	5x	as long as short
Gate HYPE_USDT	+0.0082%	4h	94.454	−0.058%	$50.5M	$56.9M	75x	as long as short
edgeX HYPEUSDC	+0.0087%	4h	94.396	−0.120%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.467	−0.045%	$3.2M	$10.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.476	−0.035%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.460	−0.052%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.462	−0.051%	$7.2M	$52.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.559	+0.053%	$2.08B	$687.3M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.477	−0.034%	$8.8M	$36.9M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.448	−0.064%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.480	−0.031%	$378.9M	$932.6M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.428	−0.086%	$218K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.468	−0.044%	$89.7M	$84.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.458	−0.054%	$46.9M	$18.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.468	−0.044%	—	$52.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.443	−0.070%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.362	−0.156%	$29.6M	$54.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.422	−0.092%	$7.6M	$45.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.416	−0.099%	$350K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.445	−0.068%	$683K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.571	+0.065%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.579	+0.074%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.446	−0.067%	$18.4M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.459	−0.053%	$399K	$153K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0022%	1h	94.508	−0.001%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0184%	1h	94.557	+0.051%	$7.5M	$4.3M	50x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.740	+0.244%	$31K	$340K	12x	as long as short
Kraken Futures PF_HYPEUSDlong	+0.0223%	1h	94.509	long leg	$20.2M	$30.2M	50x
RISEx HYPE/USDC	+0.0249%	1h	94.497	−0.013%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERPshort	+0.0272%	1h	94.441	−0.072%	$83K	$121K	15x
BloFin HYPE-USDT	+0.0340%	4h	94.462	−0.050%	$17.1M	$12.4M	75x	as long as short