HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0198%/8h= −21.6% APRnext payment −$0.25 per $10,000 · paid last 24h −0.030%

Price spread now: dYdX against Pacifica+0.003%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$700.704% of the position

Long on Pacifica Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 4 days (all we have)−0.066%−$7 · spread now +0.003%, 7d avg −0.016%

Together, before fees−0.119%+ Points / potential airdropPacifica: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.016%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.053% in total (about -2.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.25 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	Pacifica HYPE	95.077	0.0100	pay 0.0013% / 1h	0m 34s	$10.2M	$14.1M	20x
Short	dYdX HYPE-USD	95.080	−0.0098	pay 0.0012% / 1h	0m 34s	$130K	$93K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Pacifica. 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

Position, each leg$Hold fordaysFee PacificabpFee dYdXbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$41.5
Price spread: +0.003% → −0.016%: $1.9
Slippage, 4 orders: −$52.45
Fee Pacifica: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$110.04
Costs to cover: 0.704%
Break-even: never at this rate

Slippage from Pacifica: live order book, 4 min ago; dYdX: live order book, 33 min ago.

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 Pacifica live order book, 4 min ago	0.05 bp	5.2 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 33 min ago	24.32 bp	29.3 bp −$29	72.6 bp −$726	154.8 bp −$15.5K	904.2 bp −$452.1K

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	−0.1040%	1h	94.971	−0.112%	$211K	$265K	7x	as long as short
Bluefin HYPE-PERP	−0.0546%	1h	94.998	−0.083%	$79K	$149K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0214%	1h	95.195	+0.124%	$22K	$19K	10x	as long as short
Bullet HYPE-USD	−0.0208%	1h	95.050	−0.029%	$112K	$580K	20x	as long as short
Phemex HYPEUSDT	−0.0193%	8h	95.004	−0.077%	$13.0M	$2.8M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0157%	1h	95.020	−0.060%	$695K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	95.081	+0.004%	$91K	$354K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	95.044	−0.035%	$1.0M	$3.1M	10x	as long as short
dYdX HYPE-USDshort	−0.0098%	1h	95.080	+0.003%	$130K	$93K	5x
Hotstuff HYPE-PERP	−0.0080%	1h	95.043	−0.036%	$3K	$331	25x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0072%	4h	95.065	−0.013%	$53.1M	$57.1M	75x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	95.041	−0.038%	$18.8M	$35.7M	50x	as long as short
Vest HYPE-PERP	−0.0030%	1h	95.115	+0.040%	—	$88K	5x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	95.007	−0.074%	$148K	$669K	20x	as long as short
Bybit HYPEUSDT	−0.0005%	8h	95.080	+0.003%	$319.7M	$283.1M	75x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	95.123	+0.048%	$1.8M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	95.025	−0.055%	$19K	$272K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.062	−0.016%	$86K	—	150x	as long as short
BingX HYPE-USDT	+0.0004%	4h	95.061	−0.017%	—	$50.5M	—	as long as short
Phoenix HYPE	+0.0008%	1h	95.157	+0.084%	$203K	$1.2M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	95.060	−0.018%	$4.7M	$5.7M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0028%	8h	95.061	−0.017%	$118.6M	$321.5M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0042%	8h	95.054	−0.024%	$340K	$38K	20x	as long as short
Bitget HYPEUSDT	+0.0050%	4h	95.063	−0.015%	$228.5M	$93.3M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0053%	1h	94.981	−0.101%	$7.4M	$10.2M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0066%	1h	95.115	+0.040%	$7.5M	$4.4M	50x	as long as short
SoDEX HYPE-USD	+0.0071%	1h	95.024	−0.056%	$2.1M	$1.6M	10x	as long as short
Aster HYPEUSDT	+0.0073%	4h	95.064	−0.014%	$9.0M	$36.4M	300x	as long as short
edgeX HYPEUSDC	+0.0096%	4h	95.176	+0.104%	$5.1M	$31.1M	30x	as long as short
Lighter HYPE	+0.0096%	1h	95.017	−0.064%	$16.2M	$64.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.029	−0.051%	$3.2M	$10.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.082	+0.005%	$266K	$1.3M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.050	−0.029%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.075	−0.002%	$7.3M	$55.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.170	+0.098%	$2.10B	$674.1M	10x	as long as short
Pacifica HYPElong	+0.0100%	1h	95.077	long leg	$10.2M	$14.1M	20x
Binance HYPEUSDT	+0.0100%	4h	95.073	−0.004%	$382.6M	$909.1M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.176	+0.104%	$222K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	95.069	−0.009%	$87.0M	$90.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.003	−0.078%	$47.4M	$18.3M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.987	−0.094%	$30.1M	$55.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.148	+0.074%	$7.7M	$43.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.146	+0.072%	$349K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.051	−0.028%	$691K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.076	−0.001%	$499K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.899	−0.187%	$32K	$1.5M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.209	+0.139%	$1.4M	$6.7M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.039	−0.040%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.091	+0.014%	$402K	$136K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.114	+0.038%	$3.2M	$6.2M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.480	+0.424%	$31K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	95.018	−0.062%	$85K	$93K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.106	+0.030%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.018	−0.062%	$17.2M	$12.2M	75x	as long as short