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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 05:00 UTC+0.0074%/8h= +8.1% APRpaid last 24h −0.035%
Price spread now: OKX against Phoenix−0.206%7-day average −0.114% · you buy dearer than you sell
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$240.236% of the position
Long on PhoenixShort on OKX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.315%−$31 on $10k
Price spread, last 7 days+0.103%+$10 · spread now −0.206%, 7d avg −0.114%
Together, before fees−0.212%−$21 on $10k · with fees, hour by hour
Funding pays, the price is against you. OKX is 0.092% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.206% now, against its 7-day average of −0.114%). If the spread goes back, that is −$9 on $10k: about 4.1 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.315%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix HYPE93.2820.0026pay 0.0003% / 1h27m 26s$207K$1.2M10x
ShortOKX HYPE-USDT-SWAP93.0900.0100get 0.0100% / 8h2h 27m$114.2M$308.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

OKX against Phoenix. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$15.61
Price spread: −0.206% → −0.114%
−$9.19
Slippage, 4 orders
−$6.63
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee OKX: 5 bp × 2 orders
−$10
Net
−$17.21
Costs to cover
0.236%
Break-even
14.7 days
Slippage from Phoenix: live order book, 1 min ago; OKX: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 1 min ago0.05 bp7.0 bp −$714.0 bp −$140doesn't fitdoesn't fit
Sell OKX live order book, 2 min ago0.05 bp5.2 bp −$59.0 bp −$9018.6 bp −$1,855doesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1488%1h93.061−0.237%$197K$237K7xas long as short
Aftermath Perps HYPEUSD−0.0363%1h93.229−0.057%$22K$21K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.113−0.181%$3K$33125xas long as short
Bullet HYPE-USD−0.0071%1h93.088−0.208%$111K$580K20xas long as short
Orderly PERP_HYPE_USDC−0.0023%4h93.114−0.180%$146K$665K20xas long as short
01 Exchange HYPEUSD−0.0008%1h93.131−0.162%$87K$365K20xas long as short
dYdX HYPE-USD0.0000%1h93.139−0.153%$128K$29K5xas long as short
Perpl HYPE0.0000%43m93.135−0.157%$22K$290K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.133−0.159%$62K—150xas long as short
Arcus HYPE-USD+0.0011%1h93.082−0.214%$1.0M$3.9M10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget HYPEUSDT+0.0014%4h93.106−0.189%$225.0M$98.8M75xas long as short
Bybit HYPEUSDT+0.0017%8h93.090−0.206%$316.3M$282.7M75xas long as short
Ondo Perps HYPE-USD.P+0.0024%1h93.080−0.217%$702K$1.2M10xas long as short
Phoenix HYPElong+0.0026%1h93.282long leg$207K$1.2M10x
Phemex HYPEUSDT+0.0054%8h93.159−0.132%$12.7M$2.8M50xas long as short
Paradex HYPE-USD-PERP+0.0094%8h93.167−0.123%$339K$157K20xas long as short
Lighter HYPE+0.0096%1h93.134−0.159%$16.1M$63.2M20xas long as short
Lighter RH HYPE+0.0096%1h93.133−0.160%$3.1M$11.5M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.106−0.189%$75K$1.2M50xas long as short
edgeX HYPEUSDC+0.0098%4h93.253−0.031%$5.0M$29.9M30xas long as short
Katana Perps HYPE-USD+0.0100%8h93.100−0.195%$28K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.093−0.203%$7.9M$48.4M10xas long as short
Hyperliquid HYPE+0.0100%1h93.153−0.138%$2.03B$669.2M10xas long as short
Aster HYPEUSDT+0.0100%4h93.097−0.199%$8.7M$36.4M300xas long as short
Pacifica HYPE+0.0100%1h93.153−0.138%$10.0M$15.3M20xas long as short
Binance HYPEUSDT+0.0100%4h93.103−0.192%$373.1M$912.2M75xas long as short
OKX HYPE-USDT-SWAPshort+0.0100%8h93.090−0.206%$114.2M$308.6M50x
Bulk HYPE-USD+0.0100%1h93.230−0.056%$215K$15K10xas long as short
Gate HYPE_USDT+0.0100%4h93.100−0.195%$46.7M$54.4M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.110−0.184%$90.8M$81.2M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.130−0.163%$46.0M$18.9M75xas long as short
BingX HYPE-USDT+0.0100%4h93.100−0.195%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.158−0.133%$7.3M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h93.131−0.162%$28.5M$56.3M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.241−0.044%$7.5M$47.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.281−0.001%$342K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.185−0.104%$667K$2.8M20xas long as short
Vest HYPE-PERP+0.0100%1h93.182−0.107%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.121−0.173%$482K$2.7M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.087−0.209%$79K$166K20xas long as short
Derive HYPE-PERP+0.0100%1h93.106−0.188%$16.1M$7.4M10xas long as short
SunX HYPE-USDT+0.0100%4h93.158−0.133%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.129−0.164%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h93.300+0.019%$1.4M$6.5M75xas long as short
Extended HYPE-USD+0.0104%1h93.085−0.211%$18.1M$43.2M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.125−0.168%$394K$158K20xas long as short
Kalshi KXHYPEPERP+0.0109%8h93.220−0.066%$1.8M$5.6M2.3xas long as short
Injective HYPE/USDC PERP+0.0122%1h93.190−0.099%$30K$339K12xas long as short
Coinbase International HYPE-PERP-INTX+0.0144%1h93.170−0.120%$4.6M$5.8M50xas long as short
Reya HYPERUSDPERP+0.0269%1h93.097−0.198%$80K$127K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0154%1h93.143−0.149%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.309+0.029%$16.8M$11.9M75xas long as short
Kraken Futures PF_HYPEUSD+0.0342%1h93.190−0.098%$20.8M$29.6M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0480%1h93.221−0.065%$7.5M$4.0M50xas long as short
RISEx HYPE/USDC+0.0527%1h93.178−0.111%$3.2M$6.3M20xas long as short