Funding you earn now, next payment 23:00 UTC+0.0091%/8h= +10.0% APRnext payment +$0.11 per $10,000 · paid last 24h −0.017%
Price spread now: Bulk against Phoenix−0.181%51s7-day average −0.052% · you buy dearer than you sell
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−$220.215% of the position
Funding, last 3 days (all we have)−0.112%−$11 on $10k
+Price spread, last 4 days (all we have)+0.135%+$13 · spread now −0.181%, 7d avg −0.052%
=Funding pays, the price is against you. Bulk is 0.129% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.181% now, against its 7-day average of −0.052%). If the spread goes back, that is −$13 on $10k: about 4.7 days of funding at the current rate (+$3 a day). Mind the row above: over the last 3 days funding on this pair cost −0.112%, so the current rate has only just turned in your favour. The two prices were read 51 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 | Phoenix HYPE | 94.114 | 0.0009 | pay 0.0001% / 1h | 56m 16s | $218K | $1.2M | 10x |
| Short | Bulk HYPE-USD | 93.944 | 0.0100 | get 0.0013% / 1h | 56m 16s | $205K | $6K | 10x |
Phoenix HYPE
Bulk HYPE-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bulk against Phoenix. 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
- $19.21
- Price spread: −0.181% → −0.052%
- −$12.86
- Slippage, 4 orders
- −$7.52
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Net
- −$15.17
- Costs to cover
- 0.215%
- Break-even
- 12.5 days
Slippage from Phoenix: live order book, 2 min ago; Bulk: live order book, 18 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 Phoenix live order book, 2 min ago | 1.17 bp | 5.8 bp −$6 | 11.1 bp −$111 | doesn't fit | doesn't fit |
| Sell Bulk live order book, 18 min ago | 0.53 bp | 6.0 bp −$6 | 7.6 bp −$76 | 13.2 bp −$1,324 | 37.8 bp −$18.9K |
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 | −0.1432% | 1h | 93.897 | −0.231% | $199K | $228K | 7x | as long as short |
| Arcus HYPE-USD | −0.0625% | 1h | 93.746 | −0.391% | $1.2M | $3.8M | 10x | as long as short |
| Aftermath Perps HYPEUSD | −0.0322% | 1h | 93.973 | −0.150% | $22K | $22K | 10x | as long as short |
| dYdX HYPE-USD | −0.0239% | 1h | 93.914 | −0.212% | $128K | $30K | 5x | as long as short |
| Bybit HYPEUSDT | −0.0123% | 8h | 93.840 | −0.291% | $322.8M | $283.5M | 75x | as long as short |
| 01 Exchange HYPEUSD | −0.0120% | 1h | 93.843 | −0.288% | $86K | $365K | 20x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0095% | 1h | 93.830 | −0.302% | $705K | $923K | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.868 | −0.261% | $3K | $331 | 25x | as long as short |
| Bullet HYPE-USD | −0.0075% | 1h | 93.825 | −0.307% | $112K | $579K | 20x | as long as short |
| Gate HYPE_USDT | −0.0062% | 4h | 93.821 | −0.311% | $44.6M | $58.7M | 75x | as long as short |
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Aftermath Perps HYPEUSD
dYdX HYPE-USD
Bybit HYPEUSDT
01 Exchange HYPEUSD
Ondo Perps HYPE-USD.P
Hotstuff HYPE-PERP
Bullet HYPE-USD
Gate HYPE_USDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Derive HYPE-PERP | −0.0013% | 1h | 93.778 | −0.357% | $16.4M | $7.2M | 10x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0008% | 4h | 93.829 | −0.303% | $169K | $594K | 20x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.879 | −0.250% | $23K | $329K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0003% | 1h | 93.860 | −0.270% | $27K | — | 150x | as long as short |
| Phoenix HYPElong | +0.0009% | 1h | 94.114 | long leg | $218K | $1.2M | 10x | |
| Aster HYPEUSDT | +0.0015% | 4h | 93.839 | −0.292% | $8.9M | $36.1M | 300x | as long as short |
| Popdex HYPEUSDT | +0.0040% | 1h | 93.835 | −0.296% | $60K | $1.2M | 50x | as long as short |
| MEXC HYPE_USDT | +0.0042% | 4h | 93.828 | −0.304% | $88.0M | $81.8M | 100x | as long as short |
| Binance HYPEUSDT | +0.0043% | 4h | 93.845 | −0.286% | $383.4M | $897.9M | 75x | as long as short |
| edgeX HYPEUSDC | +0.0054% | 4h | 93.988 | −0.134% | $5.1M | $29.7M | 30x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0086% | 8h | 93.855 | −0.275% | $115.8M | $321.8M | 50x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.897 | −0.231% | $18.8M | $58.2M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.876 | −0.253% | $3.1M | $12.0M | 20x | as long as short |
| Aevo HYPE-PERP | +0.0096% | 1h | 93.904 | −0.223% | $399K | $268K | 20x | as long as short |
| Paradex HYPE-USD-PERP | +0.0099% | 8h | 93.903 | −0.224% | $341K | $171K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.860 | −0.270% | $42K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.835 | −0.296% | $6.6M | $44.9M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.946 | −0.179% | $2.04B | $680.6M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.871 | −0.258% | $10.1M | $14.6M | 20x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.838 | −0.293% | $46.5M | $18.5M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.862 | −0.268% | $227.4M | $101.9M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.833 | −0.299% | — | $54.0M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.913 | −0.214% | $7.7M | $10.5M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.832 | −0.299% | $31.2M | $54.3M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 94.052 | −0.066% | $7.6M | $45.4M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 94.033 | −0.086% | $340K | $1.1M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.964 | −0.159% | $679K | $2.5M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.895 | −0.233% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.872 | −0.257% | $471K | $2.5M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.828 | −0.304% | $76K | $171K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.903 | −0.224% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.850 | −0.281% | $2.0M | $2.0M | 10x | as long as short |
| Phemex HYPEUSDT | +0.0100% | 8h | 93.890 | −0.238% | $12.8M | $2.6M | 50x | as long as short |
| Bulk HYPE-USDshort | +0.0100% | 1h | 93.944 | −0.181% | $205K | $6K | 10x | |
| Extended HYPE-USD | +0.0104% | 1h | 93.840 | −0.291% | $18.4M | $42.6M | 50x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0144% | 1h | 93.890 | −0.238% | $4.9M | $5.7M | 50x | as long as short |
| Kalshi KXHYPEPERP | +0.0163% | 8h | 93.929 | −0.197% | $1.9M | $5.1M | 2.3x | as long as short |
| BloFin HYPE-USDT | +0.0175% | 4h | 93.897 | −0.231% | $17.0M | $12.5M | 75x | as long as short |
| Injective HYPE/USDC PERP | +0.0205% | 1h | 94.150 | +0.038% | $31K | $338K | 12x | as long as short |
| RISEx HYPE/USDC | +0.0222% | 1h | 93.889 | −0.239% | $2.8M | $6.9M | 20x | as long as short |
| Reya HYPERUSDPERP | +0.0250% | 1h | 93.820 | −0.312% | $78K | $143K | 15x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0251% | 1h | 93.948 | −0.176% | $7.5M | $4.7M | 50x | as long as short |
| HTX HYPE-USDT | +0.0310% | 4h | 94.050 | −0.068% | $1.5M | $7.5M | 75x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0338% / S −0.0157% | 1h | 93.862 | −0.268% | $1.4M | — | 100x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0672% | 1h | 93.955 | −0.169% | $21.0M | $29.5M | 50x | as long as short |
Derive HYPE-PERP
Orderly PERP_HYPE_USDC
Perpl HYPE
gTrade (Gains Network) HYPE/USD
Aster HYPEUSDT
Popdex HYPEUSDT
MEXC HYPE_USDT
Binance HYPEUSDT
edgeX HYPEUSDC
OKX HYPE-USDT-SWAP
Lighter HYPE
Lighter RH HYPE
Aevo HYPE-PERP
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Phemex HYPEUSDT
Extended HYPE-USD
Coinbase International HYPE-PERP-INTX
Kalshi KXHYPEPERP
BloFin HYPE-USDT
Injective HYPE/USDC PERP
RISEx HYPE/USDC
Reya HYPERUSDPERP
Deribit HYPE_USDC-PERPETUAL
HTX HYPE-USDT
GMX HYPE/USD [WBTC.b-USDC]
Kraken Futures PF_HYPEUSD