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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 19:53 UTC−0.0004%/8hpaid last 24h +0.080%
Price spread now: Injective against Perpl+0.446%54s7-day average +0.186% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on PerplShort on Injective
What this pair did over the last
the charts below follow
Funding, last 7 days+2.495%+$249 on $10k
Price spread, last 3 days (all we have)−0.666%−$67 · spread now +0.446%, 7d avg +0.186%
Together, before fees+1.828%+ Points / potential airdropPerpl: Active · farm board+$183 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Injective is 0.260% dearer against Perpl than usual: you sell high and buy low, +$26 on $10k if it goes back to its 7-day average of +0.186%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPerpl HYPE93.2040get 0.0000% / 43m27m 03s$24K$372K10x
ShortInjective HYPE/USDC PERP93.620−0.0004pay 0.0000% / 1h6m 03s$30K$177K12x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Injective against Perpl. 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
−$0.77
Price spread: +0.446% → +0.186%
$25.99
Slippage, 4 orders
no order book: not counted
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
$11.4
Costs to cover
0.138%
Break-even
from the start
Slippage unknown: Perpl: no order-book sample; Injective: live order book, 27 min ago. 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 Perpl no order-book sample—————
Sell Injective live order book, 27 min ago16.64 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit
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−0.1072%1h93.242+0.041%$196K$244K7xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.269+0.070%$3K$33125xas long as short
Injective HYPE/USDC PERPshort−0.0004%1h93.620+0.446%$30K$177K12x
dYdX HYPE-USD0.0000%1h93.249+0.048%$127K$33K5xas long as short
Kalshi KXHYPEPERP0.0000%8h93.334+0.139%$2.0M$5.3M2.3xas long as short
Perpl HYPElong0.0000%43m93.204long leg$24K$372K10x
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0005%1h93.195−0.010%$44K—150xas long as short
Aftermath Perps HYPEUSD+0.0008%1h93.332+0.138%$22K$22K10xas long as short
Aster HYPEUSDT+0.0021%4h93.164−0.043%$8.9M$36.2M300xas long as short
01 Exchange HYPEUSD+0.0048%1h93.201−0.003%$90K$323K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate HYPE_USDT+0.0072%4h93.156−0.051%$44.1M$56.1M75xas long as short
Arcus HYPE-USD+0.0082%1h93.160−0.047%$1.2M$4.0M10xas long as short
Bybit HYPEUSDT+0.0083%8h93.130−0.079%$324.6M$286.7M75xas long as short
Lighter HYPE+0.0096%1h93.227+0.024%$18.7M$58.3M20xas long as short
Lighter RH HYPE+0.0096%1h93.195−0.010%$3.1M$12.5M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.195−0.010%$55K$1.3M50xas long as short
Ondo Perps HYPE-USD.P+0.0097%1h93.320+0.124%$700K$945K10xas long as short
Orderly PERP_HYPE_USDC+0.0097%4h93.164−0.043%$181K$505K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.230+0.028%$21K$1.8M10xas long as short
Nado HYPE-PERP+0.0100%1h93.190−0.014%$6.3M$43.6M10xas long as short
Pacifica HYPE+0.0100%1h93.207+0.003%$10.0M$14.3M20xas long as short
Binance HYPEUSDT+0.0100%4h93.173−0.033%$389.7M$870.0M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.141−0.068%$114.5M$313.1M50xas long as short
Bulk HYPE-USD+0.0100%1h93.380+0.189%$205K$12K10xas long as short
MEXC HYPE_USDT+0.0100%4h93.162−0.045%$91.4M$83.4M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.175−0.031%$46.4M$19.6M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.163−0.044%$225.5M$102.9M75xas long as short
BingX HYPE-USDT+0.0100%4h93.151−0.057%—$54.7M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.208+0.004%$8.0M$11.5M20xas long as short
Variational Omni HYPE+0.0100%8h93.355+0.162%$29.1M$49.0M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.383+0.192%$7.5M$46.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.365+0.173%$457K$943K50xas long as short
StandX HYPE-USD+0.0100%1h93.341+0.147%$675K$2.3M20xas long as short
Vest HYPE-PERP+0.0100%1h93.256+0.056%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.215+0.012%$460K$2.6M20xas long as short
Bullet HYPE-USD+0.0100%1h93.189−0.016%$112K$573K20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.172−0.034%$76K$171K20xas long as short
Derive HYPE-PERP+0.0100%1h93.145−0.063%$16.3M$7.0M10xas long as short
SunX HYPE-USDT+0.0100%4h93.193−0.012%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.161−0.046%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.198−0.006%$12.6M$2.5M50xas long as short
Paradex HYPE-USD-PERP+0.0101%8h93.222+0.019%$341K$172K20xas long as short
edgeX HYPEUSDC+0.0104%4h93.353+0.160%$5.1M$28.9M30xas long as short
Extended HYPE-USD+0.0104%1h93.158−0.050%$18.1M$40.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.187−0.018%$396K$320K20xas long as short
Kraken Futures PF_HYPEUSD+0.0151%1h93.228+0.026%$16.2M$20.9M50xas long as short
Phoenix HYPE+0.0172%1h93.411+0.222%$208K$954K10xas long as short
Hyperliquid HYPE+0.0188%1h93.248+0.047%$2.02B$660.8M10xas long as short
Coinbase International HYPE-PERP-INTX+0.0200%1h93.310+0.114%$4.9M$5.5M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0222%1h93.260+0.060%$7.4M$4.6M50xas long as short
Reya HYPERUSDPERP+0.0242%1h93.189−0.016%$77K$157K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0165%1h93.186−0.019%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.249+0.048%$17.4M$12.3M75xas long as short
HTX HYPE-USDT+0.0406%4h93.380+0.189%$1.5M$7.5M75xas long as short
RISEx HYPE/USDC+0.0516%1h93.256+0.056%$2.7M$6.4M20xas long as short