Funding you earn now, next payment 01:00 UTC+0.0111%/8h= +12.2% APRpaid last 24h +0.061%
Price spread now: Phoenix against Orderly+0.165%7-day average +0.087% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.431%+$43 on $10k
+Price spread, last 3 days (all we have)−0.127%−$13 · spread now +0.165%, 7d avg +0.087%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phoenix is 0.078% dearer against Orderly than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.087%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_HYPE_USDC | 93.164 | −0.0051 | get 0.0026% / 4h | 1h 59m | $156K | $640K | 20x |
| Short | Phoenix HYPE | 93.318 | 0.0060 | get 0.0007% / 1h | 59m 22s | $210K | $1.2M | 10x |
Orderly PERP_HYPE_USDC
Phoenix HYPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $23.37
- Price spread: +0.165% → +0.087%
- $7.84
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $18.21
- Costs to cover
- 0.130%
- Break-even
- 1.5 days
Slippage unknown: Orderly: no order-book sample; Phoenix: live order book, 4 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 4 min ago | 1.18 bp | 5.7 bp −$6 | 9.4 bp −$94 | 131.2 bp −$13.1K | doesn't fit |
Orderly: 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 54 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 | −0.1128% | 1h | 93.185 | +0.023% | $196K | $226K | 7x | as long as short |
| Arcus HYPE-USD | −0.0786% | 1h | 93.097 | −0.072% | $1.2M | $3.8M | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0254% | 1h | 93.090 | −0.079% | $698K | $903K | 10x | as long as short |
| Bluefin HYPE-PERP | −0.0180% | 1h | 93.168 | +0.004% | $79K | $170K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.198 | +0.036% | $3K | $331 | 25x | as long as short |
| 01 Exchange HYPEUSD | −0.0056% | 1h | 93.205 | +0.044% | $84K | $346K | 20x | as long as short |
| Orderly PERP_HYPE_USDClong | −0.0051% | 4h | 93.164 | long leg | $156K | $640K | 20x | |
| Phemex HYPEUSDT | −0.0041% | 8h | 93.198 | +0.036% | $12.6M | $2.7M | 50x | as long as short |
| Aster HYPEUSDT | −0.0006% | 4h | 93.185 | +0.023% | $8.8M | $35.4M | 300x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.189 | +0.027% | $128K | $31K | 5x | as long as short |
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Ondo Perps HYPE-USD.P
Bluefin HYPE-PERP
Hotstuff HYPE-PERP
01 Exchange HYPEUSD
Phemex HYPEUSDT
Aster HYPEUSDT
dYdX HYPE-USDShow all 54 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Perpl HYPE | 0.0000% | 43m | 93.196 | +0.034% | $22K | $321K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0003% | 1h | 93.208 | +0.047% | $25K | — | 150x | as long as short |
| Aftermath Perps HYPEUSD | +0.0008% | 1h | 93.363 | +0.213% | $22K | $21K | 10x | as long as short |
| Bybit HYPEUSDT | +0.0011% | 8h | 93.172 | +0.009% | $319.6M | $275.5M | 75x | as long as short |
| BingX HYPE-USDT | +0.0012% | 4h | 93.187 | +0.025% | — | $53.2M | — | as long as short |
| Gate HYPE_USDT | +0.0018% | 4h | 93.178 | +0.015% | $44.4M | $54.0M | 75x | as long as short |
| Backpack HYPE_USDC_PERP | +0.0023% | 1h | 93.134 | −0.032% | $7.4M | $10.4M | 20x | as long as short |
| Phoenix HYPEshort | +0.0060% | 1h | 93.318 | +0.165% | $210K | $1.2M | 10x | |
| OKX HYPE-USDT-SWAP | +0.0076% | 8h | 93.204 | +0.043% | $114.4M | $300.6M | 50x | as long as short |
| MEXC HYPE_USDT | +0.0078% | 4h | 93.202 | +0.041% | $88.0M | $79.6M | 100x | as long as short |
| Binance HYPEUSDT | +0.0078% | 4h | 93.209 | +0.048% | $379.0M | $874.7M | 75x | as long as short |
| edgeX HYPEUSDC | +0.0083% | 4h | 93.256 | +0.098% | $5.0M | $30.1M | 30x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.223 | +0.064% | $16.2M | $61.0M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.232 | +0.073% | $3.1M | $11.9M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.188 | +0.026% | $67K | $1.2M | 50x | as long as short |
| Paradex HYPE-USD-PERP | +0.0097% | 8h | 93.263 | +0.107% | $339K | $163K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.210 | +0.049% | $12K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.201 | +0.039% | $5.7M | $43.6M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.293 | +0.138% | $2.04B | $658.5M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.243 | +0.084% | $10.0M | $14.6M | 20x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.335 | +0.184% | $203K | $10K | 10x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.211 | +0.050% | $46.1M | $18.0M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.198 | +0.036% | $225.5M | $96.7M | 75x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.219 | +0.059% | $31.1M | $54.3M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.419 | +0.274% | $7.5M | $46.9M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.263 | +0.106% | $337K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.250 | +0.092% | $665K | $2.6M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.252 | +0.095% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.213 | +0.053% | $474K | $2.4M | 20x | as long as short |
| Bullet HYPE-USD | +0.0100% | 1h | 93.190 | +0.028% | $112K | $578K | 20x | as long as short |
| Derive HYPE-PERP | +0.0100% | 1h | 93.171 | +0.007% | $16.2M | $7.6M | 10x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.298 | +0.144% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.194 | +0.032% | $2.0M | $1.9M | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.171 | +0.008% | $18.3M | $43.6M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.191 | +0.029% | $396K | $170K | 20x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0176% | 1h | 93.230 | +0.071% | $4.9M | $5.4M | 50x | as long as short |
| HTX HYPE-USDT | +0.0206% | 4h | 93.361 | +0.211% | $1.4M | $5.9M | 75x | as long as short |
| Reya HYPERUSDPERP | +0.0256% | 1h | 93.181 | +0.018% | $79K | $140K | 15x | as long as short |
| Kalshi KXHYPEPERP | +0.0278% | 8h | 93.241 | +0.083% | $1.9M | $4.9M | 2.3x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0331% / S −0.0156% | 1h | 93.209 | +0.048% | $1.4M | — | 100x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0372% | 1h | 93.280 | +0.125% | $7.4M | $4.4M | 50x | as long as short |
| RISEx HYPE/USDC | +0.0510% | 1h | 93.278 | +0.122% | $3.2M | $6.7M | 20x | as long as short |
| Injective HYPE/USDC PERP | +0.0519% | 1h | 93.170 | +0.006% | $30K | $338K | 12x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0686% | 1h | 93.276 | +0.120% | $20.8M | $30.0M | 50x | as long as short |
Perpl HYPE
gTrade (Gains Network) HYPE/USD
Aftermath Perps HYPEUSD
Bybit HYPEUSDT
BingX HYPE-USDT
Gate HYPE_USDT
Backpack HYPE_USDC_PERP
OKX HYPE-USDT-SWAP
MEXC HYPE_USDT
Binance HYPEUSDT
edgeX HYPEUSDC
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Bulk HYPE-USD
KuCoin HYPEUSDTM
Bitget HYPEUSDT
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bullet HYPE-USD
Derive HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Extended HYPE-USD
Aevo HYPE-PERP
Coinbase International HYPE-PERP-INTX
HTX HYPE-USDT
Reya HYPERUSDPERP
Kalshi KXHYPEPERP
GMX HYPE/USD [WBTC.b-USDC]
Deribit HYPE_USDC-PERPETUAL
RISEx HYPE/USDC
Injective HYPE/USDC PERP
Kraken Futures PF_HYPEUSD