HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0108%/8h= +11.9% APRnext payment +$0.14 per $10,000 · paid last 24h −0.008%

Price spread now: Nado against Phoenix−0.242%57s7-day average −0.098% · 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−$160.158% of the position

Long on Phoenix Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.110%−$11 on $10k

Price spread, last 7 days+0.149%+$15 · spread now −0.242%, 7d avg −0.098%

Together, before fees+0.039%+ Points / potential airdropNado: Active · farm board+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.144% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.242% now, against its 7-day average of −0.098%). If the spread goes back, that is −$14 on $10k: about 4.4 days of funding at the current rate (+$3 a day). Mind the row above: over the last 4 days funding on this pair cost −0.110%, so the current rate has only just turned in your favour. The two prices were read 57 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	95.326	−0.0008	get 0.0001% / 1h	51m 54s	$201K	$1.1M	10x
Short	Nado HYPE-PERP	95.095	0.0100	get 0.0012% / 1h	51m 54s	$7.4M	$51.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.242%Rate

Funding earned: $22.76
Price spread: −0.242% → −0.098%: −$14.43
Slippage, 4 orders: −$1.85
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$7.52
Costs to cover: 0.158%
Break-even: 9.3 days

Slippage from Phoenix: live order book, 4 min ago; Nado: live order book, 5 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, 4 min ago	0.05 bp	4.1 bp −$4	8.6 bp −$86	doesn't fit	doesn't fit
Sell Nado live order book, 5 min ago	0.05 bp	4.2 bp −$4	6.7 bp −$67	26.6 bp −$2,662	doesn't fit

HYPE on 54 exchanges

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	−0.1168%	1h	95.197	−0.136%	$213K	$261K	7x	as long as short
Phemex HYPEUSDT	−0.0274%	8h	95.208	−0.124%	$13.0M	$2.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0251%	1h	95.177	−0.157%	$18.5M	$35.2M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0185%	1h	95.040	−0.300%	$690K	$1.3M	10x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.124	−0.212%	$1.1M	$2.4M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0125%	1h	95.236	−0.094%	$22K	$17K	10x	as long as short
Lighter HYPE	−0.0104%	1h	95.146	−0.189%	$16.3M	$57.5M	20x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	95.140	−0.195%	$92K	$337K	20x	as long as short
Bullet HYPE-USD	−0.0087%	1h	95.180	−0.153%	$114K	$581K	20x	as long as short
Gate HYPE_USDT	−0.0082%	4h	95.146	−0.189%	$54.7M	$53.1M	75x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff HYPE-PERP	−0.0080%	1h	95.191	−0.142%	$3K	$331	25x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.130	−0.206%	$4.7M	$5.6M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0043%	4h	95.115	−0.221%	$148K	$643K	20x	as long as short
Aster HYPEUSDT	−0.0036%	4h	95.111	−0.225%	$9.0M	$32.9M	300x	as long as short
OKX HYPE-USDT-SWAP	−0.0012%	8h	95.100	−0.237%	$119.1M	$302.8M	50x	as long as short
Phoenix HYPElong	−0.0008%	1h	95.326	long leg	$201K	$1.1M	10x
Popdex HYPEUSDT	−0.0008%	1h	95.143	−0.192%	$274K	$1.0M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	95.169	−0.165%	$129K	$94K	5x	as long as short
Perpl HYPE	0.0000%	43m	95.139	−0.196%	$24K	$251K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.192	−0.141%	$100K	—	150x	as long as short
Bitget HYPEUSDT	+0.0018%	4h	95.143	−0.192%	$228.7M	$86.9M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0023%	1h	95.251	−0.079%	$7.5M	$4.3M	50x	as long as short
SoDEX HYPE-USD	+0.0025%	1h	95.155	−0.179%	$2.1M	$373K	10x	as long as short
Bybit HYPEUSDT	+0.0026%	8h	95.110	−0.227%	$320.3M	$265.9M	75x	as long as short
Bulk HYPE-USD	+0.0074%	1h	95.269	−0.060%	$232K	$12K	10x	as long as short
Paradex HYPE-USD-PERP	+0.0075%	8h	95.119	−0.217%	$339K	$35K	20x	as long as short
Bluefin HYPE-PERP	+0.0079%	1h	95.172	−0.162%	$79K	$135K	20x	as long as short
Binance HYPEUSDT	+0.0086%	4h	95.130	−0.206%	$382.5M	$853.2M	75x	as long as short
MEXC HYPE_USDT	+0.0092%	4h	95.106	−0.231%	$90.2M	$83.1M	100x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	95.253	−0.077%	$5.1M	$29.1M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.177	−0.156%	$3.3M	$10.0M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.120	−0.216%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERPshort	+0.0100%	1h	95.095	−0.242%	$7.4M	$51.9M	10x
Hyperliquid HYPE	+0.0100%	1h	95.273	−0.056%	$2.11B	$645.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.168	−0.166%	$10.3M	$13.3M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.159	−0.175%	$48.1M	$17.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.109	−0.228%	—	$49.3M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.206	−0.126%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.251	−0.079%	$30.0M	$53.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.290	−0.038%	$7.7M	$39.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.279	−0.049%	$347K	$882K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.216	−0.115%	$693K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.224	−0.108%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.187	−0.146%	$504K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.245	−0.085%	$33K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.284	−0.044%	$1.4M	$5.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.104	−0.233%	$18.4M	$39.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.173	−0.161%	$402K	$130K	20x	as long as short
Kalshi KXHYPEPERP	+0.0124%	8h	95.233	−0.098%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.181	−0.152%	$3.2M	$5.5M	20x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	95.128	−0.208%	$85K	$96K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.199	−0.133%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0336%	4h	95.165	−0.169%	$17.3M	$11.5M	75x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.500	+0.183%	$31K	$334K	12x	as long as short