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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 01:00 UTC+0.0036%/8h= +3.9% APRnext payment +$0.05 per $10,000 · paid last 24h −0.015%
Price spread now: Aevo against Phoenix−0.121%7-day average −0.079% · you buy dearer than you sell
Net, funding: paid 7d − costs−$69as in the Funding arb table
Net, price: spread back to 7d avg − costs−$48as in the Price arb table
costs, in and out, $10k−$440.441% of the position
Long on PhoenixShort on Aevo
What this pair did over the last
the charts below follow
Funding, last 7 days−0.249%−$25 on $10k
Price spread, last 3 days (all we have)+0.072%+$7 · spread now −0.121%, 7d avg −0.079%
Together, before fees−0.177%−$18 on $10k · with fees, hour by hour
Funding pays, the price is against you. Aevo is 0.042% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.121% now, against its 7-day average of −0.079%). If the spread goes back, that is −$4 on $10k: about 3.9 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.249%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix HYPE93.8850.0060pay 0.0007% / 1h20m 33s$213K$1.2M10x
ShortAevo HYPE-PERP93.7710.0096get 0.0012% / 1h20m 33s$399K$175K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Aevo against Phoenix. 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
$7.57
Price spread: −0.121% → −0.079%
−$4.18
Slippage, 4 orders
−$21.08
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Aevo: 8 bp × 2 orders
−$16
Net
−$40.69
Costs to cover
0.441%
Break-even
44.6 days
Slippage from Phoenix: live order book, 3 min ago; Aevo: live order book, 49 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 3 min ago0.05 bp6.6 bp −$711.9 bp −$119doesn't fitdoesn't fit
Sell Aevo live order book, 49 min ago7.76 bp15.8 bp −$1615.8 bp −$15826.5 bp −$2,654doesn't fit

HYPE on 54 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−0.1032%1h93.783−0.109%$197K$229K7xas long as short
Arcus HYPE-USD−0.0786%1h93.609−0.294%$1.2M$3.8M10xas long as short
Phemex HYPEUSDT−0.0131%8h93.796−0.095%$12.7M$2.7M50xas long as short
Aftermath Perps HYPEUSD−0.0103%1h93.815−0.075%$22K$21K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.815−0.075%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0079%1h93.850−0.037%$702K$923K10xas long as short
Orderly PERP_HYPE_USDC−0.0056%4h93.741−0.153%$156K$646K20xas long as short
01 Exchange HYPEUSD−0.0048%1h93.724−0.171%$85K$350K20xas long as short
Backpack HYPE_USDC_PERP−0.0035%1h93.706−0.191%$7.8M$10.3M20xas long as short
Gate HYPE_USDT−0.0028%4h93.725−0.170%$44.4M$55.1M75xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT−0.0001%4h93.729−0.166%$8.8M$35.8M300xas long as short
dYdX HYPE-USD0.0000%1h93.756−0.137%$129K$31K5xas long as short
Perpl HYPE0.0000%43m93.755−0.139%$22K$326K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.809−0.081%$26K—150xas long as short
Bybit HYPEUSDT+0.0003%8h93.701−0.196%$321.8M$281.0M75xas long as short
BingX HYPE-USDT+0.0004%4h93.725−0.170%—$53.6M—as long as short
Phoenix HYPElong+0.0060%1h93.885long leg$213K$1.2M10x
Bullet HYPE-USD+0.0064%1h93.716−0.180%$112K$577K20xas long as short
Binance HYPEUSDT+0.0067%4h93.707−0.190%$381.0M$890.6M75xas long as short
MEXC HYPE_USDT+0.0068%4h93.720−0.176%$89.0M$83.2M100xas long as short
OKX HYPE-USDT-SWAP+0.0068%8h93.715−0.181%$115.2M$307.6M50xas long as short
edgeX HYPEUSDC+0.0088%4h93.822−0.067%$5.1M$29.9M30xas long as short
Paradex HYPE-USD-PERP+0.0096%8h93.766−0.127%$341K$164K20xas long as short
Lighter HYPE+0.0096%1h93.758−0.135%$16.4M$62.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.743−0.151%$3.1M$11.9M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.713−0.183%$67K$1.2M50xas long as short
Aevo HYPE-PERPshort+0.0096%1h93.771−0.121%$399K$175K20x
Katana Perps HYPE-USD+0.0100%8h93.750−0.144%$21K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.727−0.169%$5.8M$44.7M10xas long as short
Hyperliquid HYPE+0.0100%1h93.821−0.068%$2.05B$665.7M10xas long as short
Pacifica HYPE+0.0100%1h93.757−0.136%$10.1M$14.7M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.738−0.157%$46.4M$18.0M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.721−0.175%$227.1M$98.4M75xas long as short
Variational Omni HYPE+0.0100%8h93.748−0.146%$31.1M$54.6M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.837−0.051%$7.6M$47.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.823−0.066%$339K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.887+0.002%$670K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.787−0.104%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.750−0.144%$473K$2.4M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.739−0.156%$79K$171K20xas long as short
Derive HYPE-PERP+0.0100%1h93.748−0.146%$16.3M$7.7M10xas long as short
SunX HYPE-USDT+0.0100%4h93.881−0.004%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.761−0.132%$2.0M$1.9M10xas long as short
Bulk HYPE-USD+0.0100%1h93.880−0.005%$204K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.698−0.200%$18.3M$44.2M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.870−0.016%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.740−0.154%$30K$339K12xas long as short
HTX HYPE-USDT+0.0200%4h93.950+0.069%$1.4M$5.9M75xas long as short
RISEx HYPE/USDC+0.0210%1h93.801−0.089%$3.2M$7.0M20xas long as short
Reya HYPERUSDPERP+0.0255%1h93.709−0.187%$80K$140K15xas long as short
Kalshi KXHYPEPERP+0.0278%8h93.829−0.060%$1.9M$4.9M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0156%1h93.799−0.091%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0368%1h93.863−0.023%$7.4M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0680%1h93.838−0.050%$21.0M$29.8M50xas long as short