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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: spread
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Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.008%
Price spread now: Popdex against Nado−0.051%7-day average +0.002% · 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−$20as in the Price arb table
costs, in and out, $10k−$150.147% of the position
Long on NadoShort on Popdex
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.008%+$1 on $10k
Price spread, last 7 days+0.003%$0 · spread now −0.051%, 7d avg +0.002%
Together, before fees+0.010%+ Points / potential airdropNado: Active · farm board+$1 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.053% cheaper against Nado than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.002%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongNado HYPE-PERP93.6390.0100pay 0.0012% / 1h45m 03s$7.4M$50.9M10x
ShortPopdex HYPEUSDT93.5910.0096get 0.0012% / 1h45m 03s$78K$1.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Popdex 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

Funding earned
−$0.84
Price spread: −0.051% → +0.002%
−$5.34
Slippage, 4 orders
−$1.26
Fee Nado: 3.5 bp × 2 orders
−$7
Fee Popdex: 3.2 bp × 2 orders
−$6.4
Net
−$20.85
Costs to cover
0.147%
Break-even
never at this rate
Slippage from Nado: live order book, 4 min ago; Popdex: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Nado live order book, 4 min ago0.05 bp3.9 bp −$45.7 bp −$5729.5 bp −$2,945doesn't fit
Sell Popdex live order book, 4 min ago0.05 bp3.6 bp −$44.5 bp −$4518.9 bp −$1,893doesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1088%1h93.517−0.130%$198K$242K7xas long as short
Aftermath Perps HYPEUSD−0.0220%1h93.739+0.107%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0125%1h93.570−0.073%$705K$1.2M10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.575−0.068%$3K$33125xas long as short
Bullet HYPE-USD−0.0069%1h93.684+0.048%$111K$580K20xas long as short
01 Exchange HYPEUSD−0.0064%1h93.558−0.086%$86K$370K20xas long as short
Bluefin HYPE-PERP−0.0044%1h93.652+0.014%$79K$155K20xas long as short
Orderly PERP_HYPE_USDC−0.0020%4h93.635−0.004%$145K$685K20xas long as short
dYdX HYPE-USD0.0000%1h93.608−0.033%$128K$29K5xas long as short
Perpl HYPE0.0000%43m93.631−0.008%$20K$290K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.706+0.071%$63K—150xas long as short
BingX HYPE-USDT+0.0006%4h93.664+0.027%—$53.7M—as long as short
Bybit HYPEUSDT+0.0007%8h93.611−0.030%$316.2M$288.5M75xas long as short
Phoenix HYPE+0.0017%1h93.654+0.016%$209K$1.1M10xas long as short
Derive HYPE-PERP+0.0024%1h93.623−0.017%$16.3M$7.4M10xas long as short
Bitget HYPEUSDT+0.0040%4h93.672+0.036%$225.7M$99.7M75xas long as short
Phemex HYPEUSDT+0.0079%8h93.689+0.054%$12.8M$2.8M50xas long as short
Paradex HYPE-USD-PERP+0.0081%8h93.579−0.064%$334K$161K20xas long as short
Arcus HYPE-USD+0.0084%1h93.520−0.127%$1.0M$4.0M10xas long as short
edgeX HYPEUSDC+0.0087%4h93.627−0.012%$5.0M$30.6M30xas long as short
Lighter HYPE+0.0096%1h93.672+0.036%$16.2M$63.7M20xas long as short
Lighter RH HYPE+0.0096%1h93.684+0.048%$3.1M$11.1M20xas long as short
Popdex HYPEUSDTshort+0.0096%1h93.591−0.051%$78K$1.2M50x
Katana Perps HYPE-USD+0.0100%8h93.550−0.095%$22K$1.7M10xas long as short
Nado HYPE-PERPlong+0.0100%1h93.639long leg$7.4M$50.9M10x
Hyperliquid HYPE+0.0100%1h93.753+0.122%$2.05B$683.0M10xas long as short
Aster HYPEUSDT+0.0100%4h93.624−0.016%$8.8M$37.4M300xas long as short
Pacifica HYPE+0.0100%1h93.584−0.058%$10.1M$15.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.634−0.005%$375.2M$931.6M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.614−0.026%$115.7M$316.3M50xas long as short
Gate HYPE_USDT+0.0100%4h93.6390.000%$48.3M$55.0M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.669+0.032%$90.1M$83.6M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.680+0.044%$46.3M$18.8M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.685+0.049%$7.2M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h93.579−0.064%$28.6M$56.1M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.664+0.027%$7.5M$48.2M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.636−0.003%$347K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.613−0.027%$678K$2.8M20xas long as short
Vest HYPE-PERP+0.0100%1h93.672+0.036%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.657+0.019%$470K$2.8M20xas long as short
SunX HYPE-USDT+0.0100%4h93.743+0.111%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.680+0.044%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h93.802+0.174%$1.4M$6.7M75xas long as short
Bulk HYPE-USD+0.0100%1h93.731+0.099%$216K$15K10xas long as short
Kalshi KXHYPEPERP+0.0102%8h93.683+0.047%$1.8M$5.6M2.3xas long as short
Extended HYPE-USD+0.0104%1h93.660+0.022%$18.2M$43.4M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.681+0.045%$396K$159K20xas long as short
Coinbase International HYPE-PERP-INTX+0.0120%1h93.710+0.076%$4.7M$6.1M50xas long as short
Injective HYPE/USDC PERP+0.0205%1h93.520−0.127%$30K$339K12xas long as short
Reya HYPERUSDPERP+0.0271%1h93.643+0.005%$77K$130K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0333% / S −0.0154%1h93.706+0.072%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.686+0.050%$17.0M$12.2M75xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0390%1h93.775+0.146%$7.4M$4.2M50xas long as short
Kraken Futures PF_HYPEUSD+0.0415%1h93.763+0.133%$20.9M$29.6M50xas long as short
RISEx HYPE/USDC+0.0559%1h93.595−0.047%$3.2M$6.4M20xas long as short