HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0171%/8h= +18.7% APRnext payment +$0.21 per $10,000 · paid last 24h +0.019%

Price spread now: Kraken Futures against Phoenix+0.038%7-day average −0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$300.298% of the position

Long on Phoenix Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.146%−$15 on $10k

Price spread, last 4 days (all we have)−0.135%−$13 · spread now +0.038%, 7d avg −0.042%

Together, before fees−0.281%−$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Kraken Futures is 0.080% dearer against Phoenix than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.042%. Mind the row above: over the last 7 days funding on this pair cost −0.146%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix HYPE	92.921	0.0026	pay 0.0003% / 1h	20m 26s	$208K	$1.2M	10x
Short	Kraken Futures PF_HYPEUSD	92.956	0.0197	get 0.0025% / 1h	20m 26s	$20.7M	$29.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.038%Rate

Funding earned: $35.91
Price spread: +0.038% → −0.042%: $7.99
Slippage, 4 orders: −$12.83
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $14.06
Costs to cover: 0.298%
Break-even: 4.3 days

Slippage from Phoenix: live order book, 3 min ago; Kraken Futures: live order book, 4 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	0.97 bp	5.4 bp −$5	9.8 bp −$98	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	1.56 bp	11.0 bp −$11	12.2 bp −$122	18.1 bp −$1,806	54.7 bp −$27.3K

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	−0.1720%	1h	92.759	−0.174%	$194K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0299%	1h	92.824	−0.104%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.866	−0.059%	$1.0M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.882	−0.042%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0058%	4h	92.851	−0.075%	$145K	$681K	20x	as long as short
Bullet HYPE-USD	−0.0003%	1h	92.929	+0.009%	$112K	$577K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.850	−0.077%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.876	−0.049%	$22K	$293K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.967	+0.049%	$62K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0018%	1h	92.860	−0.066%	$697K	$1.1M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange HYPEUSD	+0.0024%	1h	92.923	+0.002%	$87K	$364K	20x	as long as short
Phoenix HYPElong	+0.0026%	1h	92.921	long leg	$208K	$1.2M	10x
Bybit HYPEUSDT	+0.0032%	8h	92.953	+0.034%	$316.2M	$283.0M	75x	as long as short
Popdex HYPEUSDT	+0.0040%	1h	92.900	−0.023%	$81K	$1.1M	50x	as long as short
Bitget HYPEUSDT	+0.0044%	4h	92.954	+0.036%	$225.0M	$99.0M	75x	as long as short
Phemex HYPEUSDT	+0.0049%	8h	92.862	−0.063%	$12.5M	$2.7M	50x	as long as short
Lighter HYPE	+0.0096%	1h	92.893	−0.030%	$16.0M	$62.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.890	−0.033%	$3.1M	$11.6M	20x	as long as short
Gate HYPE_USDT	+0.0096%	4h	92.894	−0.029%	$45.2M	$54.5M	75x	as long as short
edgeX HYPEUSDC	+0.0098%	4h	92.694	−0.244%	$4.9M	$29.6M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	92.917	−0.004%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.900	−0.023%	$39K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.875	−0.049%	$7.4M	$46.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.927	+0.006%	$2.02B	$666.8M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	92.959	+0.041%	$8.7M	$36.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	92.927	+0.006%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.954	+0.036%	$374.0M	$906.5M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.944	+0.025%	$114.1M	$304.1M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.709	−0.228%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.969	+0.052%	$91.5M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.953	+0.034%	$46.2M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.956	+0.038%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.879	−0.045%	$7.2M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.839	−0.089%	$28.5M	$57.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.808	−0.122%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.725	−0.211%	$340K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.846	−0.081%	$668K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.943	+0.024%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.935	+0.015%	$487K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.892	−0.031%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.858	−0.068%	$16.0M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.903	−0.019%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.874	−0.051%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.995	+0.080%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.874	−0.050%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.861	−0.064%	$393K	$164K	20x	as long as short
Kalshi KXHYPEPERP	+0.0121%	8h	92.725	−0.211%	$1.8M	$5.4M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.900	−0.023%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSDshort	+0.0197%	1h	92.956	+0.038%	$20.7M	$29.6M	50x
Injective HYPE/USDC PERP	+0.0242%	1h	93.150	+0.246%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0266%	1h	92.952	+0.033%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.965	+0.047%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.872	−0.053%	$16.8M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0450%	1h	92.967	+0.050%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.959	+0.041%	$3.2M	$6.3M	20x	as long as short