Funding you earn now, next payment 23:00 UTC−0.0609%/8h= −66.6% APRnext payment −$0.76 per $10,000 · paid last 24h −0.241%
Price spread now: Hibachi against Phoenix−0.014%61s7-day average −0.162% · you buy dearer than you sell
Net, funding: paid 7d − costs−$259as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$700.697% of the position
Funding, last 7 days−1.888%−$189 on $10k
+Price spread, last 3 days (all we have)−0.160%−$16 · spread now −0.014%, 7d avg −0.162%
=Together, before fees−2.048%+ Points / potential airdropHibachi: Active · farm board−$205 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hibachi is 0.148% dearer against Phoenix than usual: you sell high and buy low (spread −0.014% now, against its 7-day average of −0.162%): +$15 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 19 hours. The two prices were read 61 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 | 94.176 | 0.0009 | pay 0.0001% / 1h | 45m 38s | $216K | $1.2M | 10x |
| Short | Hibachi HYPE/USDT-P | 94.163 | −0.0600 | pay 0.0075% / 1h | 45m 38s | $199K | $230K | 7x |
Phoenix HYPE
Hibachi HYPE/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi 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
- −$127.79
- Price spread: −0.014% → −0.162%
- $14.81
- Slippage, 4 orders
- −$53.75
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- −$182.73
- Costs to cover
- 0.697%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 3 min ago; Hibachi: live order book, 33 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, 3 min ago | 1.06 bp | 5.6 bp −$6 | 10.4 bp −$104 | doesn't fit | doesn't fit |
| Sell Hibachi live order book, 33 min ago | 16.26 bp | 37.8 bp −$38 | 57.5 bp −$575 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi HYPE/USDT-Pshort | −0.0600% | 1h | 94.163 | −0.014% | $199K | $230K | 7x | |
| Aftermath Perps HYPEUSD | −0.0448% | 1h | 94.078 | −0.104% | $22K | $22K | 10x | as long as short |
| Arcus HYPE-USD | −0.0233% | 1h | 94.132 | −0.047% | $1.2M | $3.8M | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 94.233 | +0.061% | $3K | $331 | 25x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 94.266 | +0.096% | $128K | $30K | 5x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 94.221 | +0.047% | $23K | $329K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0003% | 1h | 94.263 | +0.092% | $27K | — | 150x | as long as short |
| Phoenix HYPElong | +0.0009% | 1h | 94.176 | long leg | $216K | $1.2M | 10x | |
| Orderly PERP_HYPE_USDC | +0.0013% | 4h | 94.231 | +0.058% | $165K | $552K | 20x | as long as short |
| Bybit HYPEUSDT | +0.0022% | 8h | 94.200 | +0.025% | $324.8M | $281.5M | 75x | as long as short |
Aftermath Perps HYPEUSD
Arcus HYPE-USD
Hotstuff HYPE-PERP
dYdX HYPE-USD
Perpl HYPE
gTrade (Gains Network) HYPE/USD
Orderly PERP_HYPE_USDC
Bybit HYPEUSDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps HYPE-USD.P | +0.0035% | 1h | 94.150 | −0.028% | $705K | $909K | 10x | as long as short |
| Aster HYPEUSDT | +0.0043% | 4h | 94.207 | +0.033% | $8.9M | $35.8M | 300x | as long as short |
| Phemex HYPEUSDT | +0.0053% | 8h | 94.184 | +0.008% | $12.8M | $2.6M | 50x | as long as short |
| 01 Exchange HYPEUSD | +0.0064% | 1h | 94.232 | +0.059% | $87K | $364K | 20x | as long as short |
| Gate HYPE_USDT | +0.0074% | 4h | 94.202 | +0.028% | $44.3M | $58.4M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0078% | 4h | 94.193 | +0.018% | $89.0M | $81.1M | 100x | as long as short |
| Binance HYPEUSDT | +0.0079% | 4h | 94.210 | +0.036% | $386.0M | $889.7M | 75x | as long as short |
| edgeX HYPEUSDC | +0.0079% | 4h | 94.119 | −0.060% | $5.1M | $29.8M | 30x | as long as short |
| Derive HYPE-PERP | +0.0095% | 1h | 94.204 | +0.030% | $16.5M | $6.9M | 10x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 94.260 | +0.090% | $19.1M | $59.3M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 94.219 | +0.046% | $3.1M | $12.2M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 94.225 | +0.052% | $64K | $1.2M | 50x | as long as short |
| Paradex HYPE-USD-PERP | +0.0099% | 8h | 94.210 | +0.036% | $342K | $171K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 94.240 | +0.068% | $30K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 94.225 | +0.051% | $5.8M | $44.2M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 94.235 | +0.062% | $10.2M | $14.5M | 20x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 94.200 | +0.025% | $116.1M | $319.5M | 50x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 94.095 | −0.085% | $205K | $7K | 10x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 94.207 | +0.033% | $47.3M | $18.4M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 94.200 | +0.025% | $228.1M | $102.8M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 94.197 | +0.022% | — | $54.0M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 94.255 | +0.084% | $7.9M | $10.4M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 94.073 | −0.109% | $32.2M | $53.1M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 94.151 | −0.026% | $7.6M | $45.4M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 94.127 | −0.052% | $336K | $1.1M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 94.199 | +0.024% | $681K | $2.5M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 94.278 | +0.108% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 94.267 | +0.097% | $486K | $2.5M | 20x | as long as short |
| Bullet HYPE-USD | +0.0100% | 1h | 94.256 | +0.085% | $113K | $577K | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 94.257 | +0.086% | $76K | $167K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 94.242 | +0.070% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 94.250 | +0.079% | $2.0M | $2.0M | 10x | as long as short |
| Injective HYPE/USDC PERP | +0.0104% | 1h | 94.140 | −0.038% | $31K | $338K | 12x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 94.183 | +0.007% | $18.7M | $42.0M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 94.261 | +0.090% | $401K | $318K | 20x | as long as short |
| Kalshi KXHYPEPERP | +0.0126% | 8h | 94.299 | +0.131% | $1.9M | $5.0M | 2.3x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0152% | 1h | 94.210 | +0.036% | $4.9M | $5.7M | 50x | as long as short |
| HTX HYPE-USDT | +0.0232% | 4h | 94.407 | +0.245% | $1.5M | $7.7M | 75x | as long as short |
| Reya HYPERUSDPERP | +0.0248% | 1h | 94.237 | +0.064% | $77K | $142K | 15x | as long as short |
| RISEx HYPE/USDC | +0.0284% | 1h | 94.259 | +0.088% | $2.8M | $6.9M | 20x | as long as short |
| BloFin HYPE-USDT | +0.0315% | 4h | 94.189 | +0.014% | $17.0M | $12.4M | 75x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0340% / S −0.0165% | 1h | 94.260 | +0.089% | $1.4M | — | 100x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0344% | 1h | 94.344 | +0.178% | $7.4M | $4.6M | 50x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0575% | 1h | 94.345 | +0.179% | $21.1M | $29.1M | 50x | as long as short |
| Hyperliquid HYPE | +0.0629% | 1h | 94.272 | +0.102% | $2.06B | $668.0M | 10x | as long as short |
Ondo Perps HYPE-USD.P
Aster HYPEUSDT
Phemex HYPEUSDT
01 Exchange HYPEUSD
Gate HYPE_USDT
MEXC HYPE_USDT
Binance HYPEUSDT
edgeX HYPEUSDC
Derive HYPE-PERP
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Pacifica HYPE
OKX HYPE-USDT-SWAP
Bulk HYPE-USD
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
Bullet HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Injective HYPE/USDC PERP
Extended HYPE-USD
Aevo HYPE-PERP
Kalshi KXHYPEPERP
Coinbase International HYPE-PERP-INTX
HTX HYPE-USDT
Reya HYPERUSDPERP
RISEx HYPE/USDC
BloFin HYPE-USDT
GMX HYPE/USD [WBTC.b-USDC]
Deribit HYPE_USDC-PERPETUAL
Kraken Futures PF_HYPEUSD
Hyperliquid HYPE