HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0239%/8h= −26.2% APRnext payment −$0.30 per $10,000 · paid last 24h −0.031%

Price spread now: Ondo Perps against Nado−0.153%52s7-day average 0.000% · you buy dearer than you sell

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

Long on Nado Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.069%−$7 on $10k

Price spread, last 7 days−0.341%−$34 · spread now −0.153%, 7d avg 0.000%

Together, before fees−0.410%+ Points / potential airdropNado: Active · Ondo Perps: Active · farm board−$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Ondo Perps is 0.152% cheaper against Nado than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of 0.000%). Swap the legs. The two prices were read 52 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 4 days it paid -0.069% in total (about -7.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.30 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	Nado HYPE-PERP	94.704	0.0100	pay 0.0012% / 1h	41m 39s	$7.3M	$52.6M	10x
Short	Ondo Perps HYPE-USD.P	94.560	−0.0139	pay 0.0017% / 1h	41m 39s	$704K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Nado. 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 NadobpFee Ondo PerpsbpOrdersPrice spread, now −0.153%Rate

Funding earned: −$50.23
Price spread: −0.153% → 0.000%: −$15.22
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$77.45
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 2 min ago; Ondo Perps: 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 Nado live order book, 2 min ago	0.05 bp	3.7 bp −$4	6.6 bp −$66	31.1 bp −$3,108	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	−0.1160%	1h	94.863	+0.167%	$208K	$268K	7x	as long as short
Bluefin HYPE-PERP	−0.0658%	1h	94.666	−0.041%	$80K	$149K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0309%	1h	94.814	+0.115%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0177%	1h	94.670	−0.036%	$112K	$577K	20x	as long as short
Ondo Perps HYPE-USD.Pshort	−0.0139%	1h	94.560	−0.153%	$704K	$1.3M	10x
Arcus HYPE-USD	−0.0112%	1h	94.558	−0.155%	$1.0M	$3.5M	10x	as long as short
Gate HYPE_USDT	−0.0082%	4h	94.556	−0.157%	$51.0M	$54.4M	75x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.585	−0.126%	$89K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.906	+0.213%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0079%	8h	94.712	+0.008%	$12.9M	$2.9M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.635	−0.073%	$19.0M	$35.2M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.640	−0.068%	$147K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.655	−0.052%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.750	+0.048%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.802	+0.103%	$19K	$286K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.698	−0.007%	$95K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.941	+0.250%	$211K	$1.2M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.650	−0.058%	$4.8M	$6.4M	50x	as long as short
Bitget HYPEUSDT	+0.0018%	4h	94.577	−0.135%	$227.1M	$99.8M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0051%	8h	94.601	−0.109%	$338K	$154K	20x	as long as short
Vest HYPE-PERP	+0.0052%	1h	94.772	+0.071%	—	$190K	5x	as long as short
OKX HYPE-USDT-SWAP	+0.0058%	8h	94.561	−0.152%	$118.2M	$328.6M	50x	as long as short
Derive HYPE-PERP	+0.0065%	1h	94.914	+0.221%	$16.4M	$7.4M	10x	as long as short
Bybit HYPEUSDT	+0.0068%	8h	94.566	−0.146%	$317.2M	$293.9M	75x	as long as short
SoDEX HYPE-USD	+0.0074%	1h	94.674	−0.032%	$2.1M	$2.0M	10x	as long as short
Lighter HYPE	+0.0096%	1h	94.585	−0.126%	$16.2M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.590	−0.121%	$3.2M	$10.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.568	−0.144%	$147K	$1.3M	50x	as long as short
edgeX HYPEUSDC	+0.0096%	4h	94.889	+0.195%	$5.0M	$30.9M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.580	−0.131%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERPlong	+0.0100%	1h	94.704	long leg	$7.3M	$52.6M	10x
Hyperliquid HYPE	+0.0100%	1h	94.719	+0.015%	$2.08B	$693.7M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.577	−0.135%	$9.7M	$37.5M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.607	−0.103%	$10.2M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.583	−0.129%	$380.8M	$938.9M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.690	−0.015%	$221K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.577	−0.135%	$93.9M	$85.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.603	−0.107%	$47.2M	$19.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.570	−0.142%	—	$53.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.571	−0.141%	$7.5M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.929	+0.237%	$30.1M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.955	+0.264%	$7.7M	$44.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.884	+0.190%	$346K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.833	+0.136%	$695K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.746	+0.044%	$500K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.767	+0.066%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.854	+0.158%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.541	−0.172%	$18.5M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.644	−0.064%	$400K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.618	−0.091%	$3.1M	$6.4M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0141%	1h	94.755	+0.053%	$7.5M	$4.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.170	+0.492%	$31K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.644	−0.064%	$83K	$115K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0326% / S −0.0152%	1h	94.720	+0.016%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.729	+0.026%	$17.2M	$12.8M	75x	as long as short