HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0120%/8h= +13.1% APRnext payment +$0.15 per $10,000 · paid last 24h +0.031%

Price spread now: Coinbase International against Ondo Perps+0.097%7-day average +0.058% · you sell dearer than you buy

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

Long on Ondo Perps Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now +0.097%, 7d avg +0.058%

Together, before fees+0.032%+ Points / potential airdropOndo Perps: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.039% dearer against Ondo Perps than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.058%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps HYPE-USD.P	93.080	0.0024	pay 0.0003% / 1h	27m 31s	$702K	$1.2M	10x
Short	Coinbase International HYPE-PERP-INTX	93.170	0.0144	get 0.0018% / 1h	27m 31s	$4.6M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Ondo Perps. 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 Ondo PerpsbpFee Coinbase InternationalbpOrdersPrice spread, now +0.097%Rate

Funding earned: $25.2
Price spread: +0.097% → +0.058%: $3.87
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $14.07
Costs to cover: 0.150%
Break-even: 3.1 days

Slippage unknown: Ondo Perps: no order-book sample; Coinbase International: live order book, 1 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 1 min ago	2.68 bp	8.3 bp −$8	14.3 bp −$143	35.2 bp −$3,523	doesn't fit

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	−0.1512%	1h	93.260	+0.193%	$197K	$237K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0368%	1h	93.253	+0.185%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.113	+0.035%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0066%	1h	93.099	+0.020%	$111K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0023%	4h	93.130	+0.054%	$146K	$663K	20x	as long as short
01 Exchange HYPEUSD	−0.0008%	1h	93.131	+0.055%	$87K	$365K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.139	+0.063%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.155	+0.080%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.135	+0.059%	$62K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	93.082	+0.002%	$1.0M	$3.9M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget HYPEUSDT	+0.0014%	4h	93.135	+0.059%	$225.0M	$98.8M	75x	as long as short
Bybit HYPEUSDT	+0.0017%	8h	93.090	+0.011%	$316.3M	$282.7M	75x	as long as short
Ondo Perps HYPE-USD.Plong	+0.0024%	1h	93.080	long leg	$702K	$1.2M	10x
Phoenix HYPE	+0.0026%	1h	93.282	+0.217%	$207K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0054%	8h	93.159	+0.085%	$12.7M	$2.8M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	93.167	+0.094%	$339K	$157K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.134	+0.058%	$16.1M	$63.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.133	+0.057%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.106	+0.028%	$75K	$1.2M	50x	as long as short
edgeX HYPEUSDC	+0.0098%	4h	93.253	+0.186%	$5.0M	$29.9M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.100	+0.021%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.147	+0.071%	$7.9M	$48.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.168	+0.095%	$2.03B	$669.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.103	+0.025%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.153	+0.078%	$10.0M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.125	+0.048%	$373.2M	$912.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.116	+0.039%	$114.2M	$308.7M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.230	+0.161%	$215K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.121	+0.044%	$46.7M	$54.3M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.122	+0.045%	$90.8M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.130	+0.054%	$46.0M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.113	+0.035%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.158	+0.084%	$7.3M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.131	+0.054%	$28.5M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.241	+0.173%	$7.5M	$47.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.281	+0.216%	$342K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.238	+0.170%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.227	+0.158%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.151	+0.076%	$483K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.124	+0.047%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.106	+0.028%	$16.1M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.158	+0.084%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.129	+0.053%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.300	+0.236%	$1.4M	$6.5M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.085	+0.006%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.125	+0.048%	$394K	$158K	20x	as long as short
Kalshi KXHYPEPERP	+0.0109%	8h	93.220	+0.150%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.190	+0.118%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTXshort	+0.0144%	1h	93.170	+0.097%	$4.6M	$5.8M	50x
Reya HYPERUSDPERP	+0.0269%	1h	93.118	+0.041%	$80K	$127K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.143	+0.068%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.309	+0.246%	$16.8M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0342%	1h	93.190	+0.118%	$20.8M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0480%	1h	93.221	+0.151%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.178	+0.106%	$3.2M	$6.3M	20x	as long as short