HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0123%/8h= −13.5% APRnext payment −$0.15 per $10,000 · paid last 24h −0.037%

Price spread now: SoDEX against Kraken Futures−0.068%7-day average −0.042% · 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−$34as in the Price arb table

costs, in and out, $10k−$310.313% of the position

Long on Kraken Futures Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.080%−$8 on $10k

Price spread, last 4 days (all we have)+0.042%+$4 · spread now −0.068%, 7d avg −0.042%

Together, before fees−0.038%−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and SoDEX is 0.026% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.042%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_HYPEUSD	94.185	0.0223	pay 0.0028% / 1h	56m 28s	$20.2M	$30.3M	50x
Short	SoDEX HYPE-USD	94.121	0.0100	get 0.0013% / 1h	56m 28s	$2.0M	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$25.9
Price spread: −0.068% → −0.042%: −$2.57
Slippage, 4 orders: −$13.28
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$59.76
Costs to cover: 0.313%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; SoDEX: live order book, 2 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, 3 min ago	1.49 bp	8.6 bp −$9	9.8 bp −$98	21.7 bp −$2,165	62.4 bp −$31.2K
Sell SoDEX live order book, 2 min ago	0.16 bp	7.1 bp −$7	12.4 bp −$124	97.8 bp −$9,778	doesn't fit

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	−0.1112%	1h	94.027	−0.168%	$201K	$235K	7x	as long as short
Bluefin HYPE-PERP	−0.0536%	1h	94.084	−0.107%	$79K	$155K	20x	as long as short
Bullet HYPE-USD	−0.0326%	1h	94.152	−0.035%	$111K	$576K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0259%	1h	94.070	−0.122%	$709K	$1.2M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0173%	1h	94.189	+0.005%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0136%	1h	94.156	−0.030%	$87K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.131	−0.057%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.135	−0.053%	$1.0M	$3.6M	10x	as long as short
Derive HYPE-PERP	−0.0039%	1h	94.050	−0.143%	$16.4M	$7.5M	10x	as long as short
Bybit HYPEUSDT	−0.0013%	8h	94.097	−0.093%	$316.9M	$289.8M	75x	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	−0.0012%	4h	94.155	−0.031%	—	$53.6M	—	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	94.094	−0.096%	$146K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.176	−0.009%	$129K	$26K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.207	+0.024%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.181	−0.004%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.135	−0.053%	$117K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.254	+0.074%	$208K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	94.111	−0.078%	$226.4M	$100.1M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0059%	8h	94.202	+0.018%	$337K	$156K	20x	as long as short
Phemex HYPEUSDT	+0.0059%	8h	94.117	−0.072%	$12.8M	$2.9M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.160	−0.026%	$4.7M	$6.2M	50x	as long as short
Polymarket Perps HYPE-USD	+0.0076%	1h	94.154	−0.032%	$495K	$2.8M	20x	as long as short
edgeX HYPEUSDC	+0.0087%	4h	94.094	−0.096%	$5.0M	$30.6M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0089%	8h	94.139	−0.048%	$117.4M	$322.6M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.174	−0.011%	$16.3M	$63.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.176	−0.009%	$3.2M	$10.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.131	−0.057%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.160	−0.026%	$17K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.130	−0.057%	$7.3M	$50.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.242	+0.061%	$2.07B	$689.3M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.142	−0.045%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.192	+0.008%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.155	−0.031%	$376.7M	$932.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.065	−0.127%	$217K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.165	−0.021%	$49.2M	$56.1M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.171	−0.014%	$90.9M	$81.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.168	−0.018%	$46.9M	$18.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.093	−0.097%	$7.5M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.059	−0.134%	$29.1M	$55.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.167	−0.019%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.120	−0.069%	$362K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.133	−0.055%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.191	+0.006%	—	$243K	5x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.178	−0.007%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USDshort	+0.0100%	1h	94.121	−0.068%	$2.0M	$1.9M	10x
HTX HYPE-USDT	+0.0100%	4h	94.243	+0.062%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.134	−0.054%	$18.3M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.109	−0.080%	$398K	$159K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0021%	1h	94.155	−0.032%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.110	−0.079%	$30K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0207%	1h	94.203	+0.020%	$7.4M	$4.3M	50x	as long as short
Kraken Futures PF_HYPEUSDlong	+0.0223%	1h	94.185	long leg	$20.2M	$30.3M	50x
RISEx HYPE/USDC	+0.0249%	1h	94.172	−0.013%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.103	−0.087%	$82K	$134K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.130	−0.058%	$17.0M	$12.4M	75x	as long as short