HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0470%/8h= −51.5% APRnext payment −$0.59 per $10,000 · paid last 24h +0.022%

Price spread now: RISEx against Kraken Futures−0.024%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$270.268% of the position

Long on Kraken Futures Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.071%+$7 on $10k

Price spread, last 3 days (all we have)+0.022%+$2 · spread now −0.024%, 7d avg −0.021%

Together, before fees+0.093%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.021%, so right now this pair is about funding alone: −$14 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.071%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.071% in total (about 7.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.59 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	93.817	0.0680	pay 0.0085% / 1h	14m 54s	$21.0M	$29.8M	50x
Short	RISEx HYPE/USDC	93.794	0.0210	get 0.0026% / 1h	14m 54s	$3.2M	$7.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$98.75
Price spread: −0.024% → −0.021%: −$0.35
Slippage, 4 orders: −$10.79
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$125.88
Costs to cover: 0.268%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; RISEx: 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	2.13 bp	11.5 bp −$12	14.0 bp −$140	21.0 bp −$2,104	64.1 bp −$32.0K
Sell RISEx live order book, 4 min ago	0.91 bp	3.9 bp −$4	6.6 bp −$66	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	−0.1056%	1h	93.599	−0.232%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.612	−0.219%	$1.2M	$3.8M	10x	as long as short
Phemex HYPEUSDT	−0.0126%	8h	93.726	−0.097%	$12.7M	$2.7M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.733	−0.090%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0076%	1h	93.771	−0.049%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0071%	1h	93.650	−0.178%	$701K	$921K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0057%	4h	93.694	−0.131%	$156K	$646K	20x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.708	−0.116%	$85K	$349K	20x	as long as short
Backpack HYPE_USDC_PERP	−0.0026%	1h	93.699	−0.126%	$7.5M	$10.4M	20x	as long as short
Gate HYPE_USDT	−0.0008%	4h	93.755	−0.066%	$44.4M	$55.2M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0002%	4h	93.730	−0.093%	$8.8M	$35.8M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.751	−0.071%	$129K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.707	−0.117%	$22K	$325K	10x	as long as short
BingX HYPE-USDT	+0.0002%	4h	93.760	−0.061%	—	$53.6M	—	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.742	−0.080%	$26K	—	150x	as long as short
Bybit HYPEUSDT	+0.0010%	8h	93.751	−0.071%	$321.8M	$279.9M	75x	as long as short
Phoenix HYPE	+0.0060%	1h	93.766	−0.055%	$213K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0068%	4h	93.756	−0.065%	$89.0M	$83.3M	100x	as long as short
Binance HYPEUSDT	+0.0070%	4h	93.758	−0.063%	$381.7M	$889.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0071%	8h	93.769	−0.051%	$115.3M	$307.8M	50x	as long as short
Bullet HYPE-USD	+0.0071%	1h	93.722	−0.102%	$111K	$577K	20x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	93.690	−0.136%	$5.1M	$30.0M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.760	−0.061%	$16.4M	$62.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.752	−0.070%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.692	−0.133%	$67K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.717	−0.106%	$399K	$175K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.846	+0.030%	$341K	$164K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.710	−0.114%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.724	−0.099%	$5.7M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.858	+0.043%	$2.05B	$666.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.750	−0.072%	$10.1M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.760	−0.061%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.778	−0.042%	$46.4M	$18.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.770	−0.050%	$227.1M	$98.2M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.718	−0.106%	$31.2M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.737	−0.086%	$7.6M	$47.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.706	−0.119%	$339K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.802	−0.016%	$669K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.769	−0.052%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.758	−0.063%	$476K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.692	−0.133%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.699	−0.126%	$16.3M	$7.7M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.825	+0.008%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.722	−0.102%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.745	−0.077%	$18.3M	$44.0M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.800	−0.018%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.670	−0.157%	$30K	$339K	12x	as long as short
HTX HYPE-USDT	+0.0186%	4h	93.885	+0.072%	$1.4M	$5.9M	75x	as long as short
RISEx HYPE/USDCshort	+0.0210%	1h	93.794	−0.024%	$3.2M	$7.0M	20x
Reya HYPERUSDPERP	+0.0255%	1h	93.724	−0.099%	$80K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0281%	8h	93.804	−0.014%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0156%	1h	93.745	−0.077%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0358%	1h	93.816	−0.001%	$7.4M	$4.4M	50x	as long as short
Kraken Futures PF_HYPEUSDlong	+0.0680%	1h	93.817	long leg	$21.0M	$29.8M	50x