HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0002%/8h= −0.2% APRnext payment −$0.00 per $10,000 · paid last 24h −0.025%

Price spread now: Bullet against Phoenix−0.023%62s7-day average −0.072% · 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−$240.244% of the position

Long on Phoenix Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.114%−$11 on $10k

Price spread, last 3 days (all we have)−0.059%−$6 · spread now −0.023%, 7d avg −0.072%

Together, before fees−0.174%−$17 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: Bullet is 0.050% dearer against Phoenix than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.072%. The two prices were read 62 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	93.249	0.0034	pay 0.0004% / 1h	16m 24s	$214K	$1.2M	10x
Short	Bullet HYPE-USD	93.228	0.0032	get 0.0004% / 1h	16m 24s	$112K	$579K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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

Position, each leg$Hold fordaysFee PhoenixbpFee BulletbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$0.44
Price spread: −0.023% → −0.072%: $4.98
Slippage, 4 orders: −$9.38
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$19.84
Costs to cover: 0.244%
Break-even: never at this rate

Slippage from Phoenix: live order book, 7 min ago; Bullet: live order book, 3 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, 7 min ago	0.97 bp	5.4 bp −$5	9.8 bp −$98	doesn't fit	doesn't fit
Sell Bullet live order book, 3 min ago	0.22 bp	4.6 bp −$5	7.9 bp −$79	doesn't fit	doesn't fit

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
Aftermath Perps HYPEUSD	−0.0436%	1h	93.187	−0.066%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0336%	1h	93.268	+0.020%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.198	−0.055%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0123%	1h	93.170	−0.085%	$699K	$931K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.189	−0.064%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	93.286	+0.040%	$90K	$361K	20x	as long as short
Aster HYPEUSDT	0.0000%	4h	93.255	+0.006%	$8.9M	$35.9M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.278	+0.031%	$127K	$32K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	93.266	+0.018%	$58K	$1.2M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.243	−0.006%	$23K	$331K	10x	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 −0.0002%	1h	93.277	+0.030%	$27K	—	150x	as long as short
Orderly PERP_HYPE_USDC	+0.0020%	4h	93.258	+0.010%	$172K	$518K	20x	as long as short
Bybit HYPEUSDT	+0.0023%	8h	93.226	−0.025%	$323.0M	$286.2M	75x	as long as short
Bullet HYPE-USDshort	+0.0032%	1h	93.228	−0.023%	$112K	$579K	20x
Phoenix HYPElong	+0.0034%	1h	93.249	long leg	$214K	$1.2M	10x
Derive HYPE-PERP	+0.0047%	1h	93.201	−0.051%	$16.3M	$7.0M	10x	as long as short
Binance HYPEUSDT	+0.0065%	4h	93.250	+0.002%	$381.7M	$894.2M	75x	as long as short
Gate HYPE_USDT	+0.0066%	4h	93.244	−0.005%	$43.9M	$58.6M	75x	as long as short
MEXC HYPE_USDT	+0.0066%	4h	93.254	+0.005%	$90.1M	$82.3M	100x	as long as short
edgeX HYPEUSDC	+0.0079%	4h	93.210	−0.042%	$5.1M	$29.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.281	+0.034%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.267	+0.019%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.244	−0.006%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.249	−0.001%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.250	+0.001%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.269	+0.022%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.275	+0.028%	$2.03B	$669.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.273	+0.026%	$10.0M	$14.4M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.243	−0.006%	$114.1M	$314.0M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.232	−0.018%	$204K	$8K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.257	+0.009%	$47.0M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.258	+0.010%	$226.1M	$103.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.227	−0.024%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.204	−0.048%	$7.8M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.153	−0.103%	$29.0M	$50.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.253	+0.004%	$7.5M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.262	+0.014%	$415K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.195	−0.058%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.254	+0.005%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.263	+0.015%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.256	+0.008%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.303	+0.058%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.218	−0.033%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.195	−0.058%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.215	−0.037%	$18.2M	$41.9M	50x	as long as short
Kalshi KXHYPEPERP	+0.0115%	8h	93.300	+0.055%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.300	+0.055%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0235%	4h	93.384	+0.145%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.190	−0.063%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.215	−0.037%	$77K	$159K	15x	as long as short
BloFin HYPE-USDT	+0.0265%	4h	93.192	−0.061%	$16.8M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.324	+0.081%	$2.7M	$6.8M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0318%	1h	93.328	+0.085%	$7.4M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.263	+0.015%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.332	+0.089%	$20.9M	$29.0M	50x	as long as short