HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0771%/8h= +84.4% APRnext payment +$0.96 per $10,000 · paid last 24h +0.033%

Price spread now: Kraken Futures against Ondo Perps+0.016%7-day average +0.120% · you sell dearer than you buy

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

Long on Ondo Perps Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.196%+$20 on $10k

Price spread, last 3 days (all we have)+0.104%+$10 · spread now +0.016%, 7d avg +0.120%

Together, before fees+0.300%+ Points / potential airdropOndo Perps: Active · farm board+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.104% cheaper against Ondo Perps than usual: you would sell low and buy high (spread +0.016% now, against its 7-day average of +0.120%). If the spread goes back, that is −$10 on $10k: about 11 hours of funding at the current rate (+$23 a day). At the pace of the last 7 days (+0.196% in total) that is about 3.7 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.196% in total (about 10.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.96 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	Ondo Perps HYPE-USD.P	93.680	−0.0097	get 0.0012% / 1h	3m 01s	$710K	$957K	10x
Short	Kraken Futures PF_HYPEUSD	93.695	0.0674	get 0.0084% / 1h	3m 01s	$20.9M	$29.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.016%Rate

Funding earned: $161.85
Price spread: +0.016% → +0.120%: −$10.43
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $136.42
Costs to cover: 0.150%
Break-even: 1.1 days

Slippage unknown: Ondo Perps: no order-book sample; Kraken Futures: 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 Kraken Futures live order book, 1 min ago	1.55 bp	10.4 bp −$10	15.1 bp −$151	22.5 bp −$2,251	56.1 bp −$28.0K

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	−0.1120%	1h	93.805	+0.133%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.536	−0.154%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0194%	1h	93.890	+0.224%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.Plong	−0.0097%	1h	93.680	long leg	$710K	$957K	10x
01 Exchange HYPEUSD	−0.0080%	1h	93.646	−0.036%	$85K	$359K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.669	−0.012%	$3K	$331	25x	as long as short
dYdX HYPE-USD	−0.0079%	1h	93.695	+0.016%	$128K	$31K	5x	as long as short
Bullet HYPE-USD	−0.0045%	1h	93.633	−0.050%	$113K	$579K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0037%	4h	93.616	−0.068%	$159K	$643K	20x	as long as short
Gate HYPE_USDT	−0.0036%	4h	93.651	−0.031%	$44.4M	$60.4M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex HYPEUSDT	−0.0005%	8h	93.643	−0.039%	$12.8M	$2.6M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.663	−0.018%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.659	−0.022%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0004%	4h	93.698	+0.019%	$8.9M	$36.0M	300x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.700	+0.021%	$322.1M	$279.0M	75x	as long as short
Derive HYPE-PERP	+0.0021%	1h	93.593	−0.092%	$16.3M	$7.6M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.887	+0.221%	$213K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0054%	4h	93.577	−0.110%	$87.9M	$83.5M	100x	as long as short
Binance HYPEUSDT	+0.0054%	4h	93.714	+0.036%	$382.7M	$895.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0072%	8h	93.735	+0.059%	$115.7M	$314.3M	50x	as long as short
Bluefin HYPE-PERP	+0.0072%	1h	93.609	−0.076%	$76K	$171K	20x	as long as short
edgeX HYPEUSDC	+0.0074%	4h	93.859	+0.191%	$5.1M	$29.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.609	−0.076%	$18.8M	$60.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.595	−0.091%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.643	−0.039%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.628	−0.055%	$398K	$180K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.681	+0.001%	$340K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.670	−0.011%	$31K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.675	−0.005%	$6.6M	$44.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.701	+0.022%	$2.04B	$669.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.686	+0.006%	$10.1M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.647	−0.035%	$46.5M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.754	+0.079%	$227.0M	$100.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.678	−0.002%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.594	−0.092%	$7.9M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.768	+0.094%	$31.3M	$53.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.861	+0.193%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.820	+0.149%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.880	+0.213%	$670K	$2.6M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.658	−0.023%	$473K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.697	+0.018%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.625	−0.059%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.894	+0.228%	$204K	$10K	10x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.723	+0.046%	—	$243K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.730	+0.054%	$18.4M	$44.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.740	+0.064%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.570	−0.117%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0217%	4h	93.624	−0.060%	$17.0M	$12.0M	75x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.706	+0.027%	$2.7M	$6.7M	20x	as long as short
Kalshi KXHYPEPERP	+0.0246%	8h	93.839	+0.170%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0253%	1h	93.624	−0.060%	$79K	$143K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0157%	1h	93.654	−0.028%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0358%	4h	93.800	+0.128%	$1.5M	$6.0M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0551%	1h	93.736	+0.060%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSDshort	+0.0674%	1h	93.695	+0.016%	$20.9M	$29.7M	50x