HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0081%/8h= −8.9% APRnext payment −$0.81 per $10,000 · paid last 24h −0.015%

Price spread now: Bybit against Paradex+0.024%49s7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.193% of the position

Long on Paradex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.025%−$2 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now +0.024%, 7d avg −0.038%

Together, before fees+0.013%+ Points / potential airdropParadex: Active · farm board+$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.061% dearer against Paradex than usual: you sell high and buy low (spread +0.024% now, against its 7-day average of −0.038%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.5 days. At the pace of the last 4 days (−0.025% in total) that is about 9.1 days. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex HYPE-USD-PERP	93.488	0.0099	pay 0.0099% / 8h	24m 53s	$340K	$171K	20x
Short	Bybit HYPEUSDT	93.510	0.0018	get 0.0018% / 8h	24m 53s	$321.3M	$283.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Paradex. 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 ParadexbpFee BybitbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$17.05
Price spread: +0.024% → −0.038%: $6.13
Slippage, 4 orders: −$4.32
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$30.24
Costs to cover: 0.193%
Break-even: never at this rate

Slippage from Paradex: live order book, 54 min ago; Bybit: live order book, 4 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 Paradex live order book, 54 min ago	1.29 bp	3.3 bp −$3	9.9 bp −$99	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.53 bp	6.7 bp −$7	9.1 bp −$91	19.2 bp −$1,919	41.4 bp −$20.7K

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	−0.0928%	1h	93.480	−0.008%	$198K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0375%	1h	93.654	+0.178%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.354	−0.143%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.496	+0.009%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0078%	1h	93.440	−0.051%	$703K	$909K	10x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.427	−0.065%	$86K	$366K	20x	as long as short
Derive HYPE-PERP	−0.0002%	1h	93.424	−0.068%	$16.3M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.492	+0.005%	$127K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.480	−0.008%	$23K	$329K	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0001%	4h	93.473	−0.016%	$166K	$583K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.515	+0.029%	$26K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	93.618	+0.139%	$214K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0011%	4h	93.515	+0.029%	$8.9M	$36.0M	300x	as long as short
Bybit HYPEUSDTshort	+0.0018%	8h	93.510	+0.024%	$321.3M	$283.4M	75x
Binance HYPEUSDT	+0.0052%	4h	93.527	+0.042%	$382.2M	$896.2M	75x	as long as short
MEXC HYPE_USDT	+0.0054%	4h	93.519	+0.033%	$87.7M	$81.8M	100x	as long as short
edgeX HYPEUSDC	+0.0064%	4h	93.635	+0.158%	$5.1M	$29.7M	30x	as long as short
Phemex HYPEUSDT	+0.0073%	8h	93.530	+0.045%	$12.7M	$2.6M	50x	as long as short
Gate HYPE_USDT	+0.0078%	4h	93.514	+0.028%	$43.9M	$59.6M	75x	as long as short
Popdex HYPEUSDT	+0.0088%	1h	93.455	−0.035%	$59K	$1.2M	50x	as long as short
Bullet HYPE-USD	+0.0092%	1h	93.475	−0.013%	$113K	$577K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.567	+0.084%	$18.8M	$60.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.524	+0.039%	$3.0M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.505	+0.019%	$398K	$318K	20x	as long as short
Paradex HYPE-USD-PERPlong	+0.0099%	8h	93.488	long leg	$340K	$171K	20x
Katana Perps HYPE-USD	+0.0099%	8h	93.440	−0.051%	$43K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.507	+0.021%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.485	−0.003%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.519	+0.033%	$115.2M	$320.2M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.625	+0.147%	$204K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.532	+0.047%	$46.3M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.533	+0.048%	$226.6M	$102.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.514	+0.028%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.548	+0.064%	$7.8M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.574	+0.092%	$31.2M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.619	+0.140%	$7.6M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.646	+0.169%	$346K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.611	+0.132%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.513	+0.026%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.497	+0.010%	$490K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.481	−0.007%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.518	+0.032%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.514	+0.028%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.986%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.501	+0.015%	$18.3M	$42.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0132%	8h	93.556	+0.073%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.560	+0.077%	$4.9M	$5.7M	50x	as long as short
Hyperliquid HYPE	+0.0184%	1h	93.554	+0.071%	$2.03B	$676.3M	10x	as long as short
BloFin HYPE-USDT	+0.0208%	4h	93.521	+0.036%	$17.1M	$12.6M	75x	as long as short
HTX HYPE-USDT	+0.0210%	4h	93.648	+0.171%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.480	−0.009%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.483	−0.005%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0337% / S −0.0163%	1h	93.509	+0.023%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0424%	1h	93.600	+0.120%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0580%	1h	93.613	+0.134%	$20.9M	$29.5M	50x	as long as short