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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 05:14 UTC+0.0022%/8h= +2.4% APRpaid last 24h +0.028%
Price spread now: Perpl against Orderly−0.023%7-day average +0.008% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on OrderlyShort on Perpl
What this pair did over the last
the charts below follow
Funding, last 7 days+0.019%+$2 on $10k
Price spread, last 4 days (all we have)+0.037%+$4 · spread now −0.023%, 7d avg +0.008%
Together, before fees+0.057%+ Points / potential airdropPerpl: Active · farm board+$6 on $10k · with fees, hour by hour
Funding pays, the price is against you. Perpl is 0.031% cheaper against Orderly than usual: you would sell low and buy high (spread −0.023% now, against its 7-day average of +0.008%). If the spread goes back, that is −$3 on $10k: about 4.8 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.019% in total) that is about 11 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOrderly PERP_HYPE_USDC93.508−0.0022get 0.0011% / 4h2h 34m$146K$662K20x
ShortPerpl HYPE93.4870get 0.0000% / 43m14m 45s$22K$290K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Perpl against Orderly. 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
$4.58
Price spread: −0.023% → +0.008%
−$3.11
Slippage, 4 orders
no order book: not counted
Fee Orderly: 3 bp × 2 orders
−$6
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Net
−$18.33
Costs to cover
0.198%
Break-even
35.0 days
Slippage unknown: Orderly: no order-book sample; Perpl: 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
LegHalf-spread$10k$100k$1M$5M
Buy Orderly no order-book sample—————
Sell Perpl no order-book sample—————
Orderly and Perpl: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1664%1h93.244−0.282%$196K$234K7xas long as short
Aftermath Perps HYPEUSD−0.0381%1h93.358−0.160%$22K$21K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.469−0.042%$3K$33125xas long as short
Bullet HYPE-USD−0.0071%1h93.494−0.015%$112K$578K20xas long as short
Orderly PERP_HYPE_USDClong−0.0022%4h93.508long leg$146K$662K20x
01 Exchange HYPEUSD−0.0016%1h93.505−0.003%$88K$366K20xas long as short
dYdX HYPE-USD0.0000%1h93.367−0.151%$128K$29K5xas long as short
Perpl HYPEshort0.0000%43m93.487−0.023%$22K$290K10x
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.534+0.027%$62K—150xas long as short
Arcus HYPE-USD+0.0011%1h93.447−0.065%$1.0M$4.0M10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget HYPEUSDT+0.0016%4h93.305−0.217%$225.6M$98.9M75xas long as short
Bybit HYPEUSDT+0.0021%8h93.287−0.236%$317.0M$283.2M75xas long as short
Ondo Perps HYPE-USD.P+0.0022%1h93.430−0.083%$702K$1.2M10xas long as short
Phoenix HYPE+0.0026%1h93.434−0.079%$209K$1.2M10xas long as short
Phemex HYPEUSDT+0.0033%8h93.518+0.011%$12.6M$2.7M50xas long as short
edgeX HYPEUSDC+0.0094%4h93.304−0.218%$5.0M$30.0M30xas long as short
Paradex HYPE-USD-PERP+0.0094%8h93.356−0.162%$340K$162K20xas long as short
Lighter HYPE+0.0096%1h93.333−0.187%$16.1M$63.1M20xas long as short
Lighter RH HYPE+0.0096%1h93.343−0.176%$3.1M$11.4M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.479−0.031%$76K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h93.450−0.062%$28K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.470−0.040%$8.0M$48.5M10xas long as short
Hyperliquid HYPE+0.0100%1h93.409−0.106%$2.03B$668.6M10xas long as short
Aster HYPEUSDT+0.0100%4h93.367−0.151%$8.7M$36.5M300xas long as short
Pacifica HYPE+0.0100%1h93.339−0.181%$10.1M$15.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.316−0.205%$373.9M$913.4M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.303−0.219%$114.4M$309.5M50xas long as short
Gate HYPE_USDT+0.0100%4h93.352−0.167%$46.7M$54.2M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.312−0.210%$89.8M$80.9M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.324−0.197%$46.1M$18.9M75xas long as short
BingX HYPE-USDT+0.0100%4h93.347−0.172%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.529+0.022%$7.3M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h93.351−0.168%$28.6M$56.3M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.365−0.153%$7.5M$47.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.331−0.189%$342K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.336−0.184%$668K$2.9M20xas long as short
Vest HYPE-PERP+0.0100%1h93.522+0.016%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.512+0.004%$484K$2.7M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.516+0.009%$79K$166K20xas long as short
Derive HYPE-PERP+0.0100%1h93.496−0.013%$16.1M$7.5M10xas long as short
SunX HYPE-USDT+0.0100%4h93.475−0.035%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.523+0.016%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h93.600+0.098%$1.4M$6.5M75xas long as short
Bulk HYPE-USD+0.0100%1h93.344−0.175%$215K$15K10xas long as short
Extended HYPE-USD+0.0104%1h93.337−0.183%$18.1M$43.2M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.520+0.012%$395K$161K20xas long as short
Kalshi KXHYPEPERP+0.0112%8h93.541+0.035%$1.8M$5.7M2.3xas long as short
Injective HYPE/USDC PERP+0.0122%1h93.350−0.169%$30K$339K12xas long as short
Coinbase International HYPE-PERP-INTX+0.0144%1h93.500−0.009%$4.8M$5.6M50xas long as short
Reya HYPERUSDPERP+0.0269%1h93.495−0.014%$80K$131K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0154%1h93.526+0.020%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.516+0.009%$16.9M$11.9M75xas long as short
Kraken Futures PF_HYPEUSD+0.0340%1h93.596+0.094%$20.9M$29.6M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0509%1h93.608+0.107%$7.5M$4.0M50xas long as short
RISEx HYPE/USDC+0.0527%1h93.541+0.035%$3.2M$6.2M20xas long as short