Settings8H · net · $10k
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Funding arb · Price arb /

HYPE

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0062%/8h= +6.8% APRpaid last 24h −0.017%
Price spread now: Phemex against Phoenix−0.060%7-day average −0.070% · you buy dearer than you sell
Net, funding: paid 7d − costs−$78as in the Funding arb table
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$520.524% of the position
Long on PhoenixShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days−0.259%−$26 on $10k
Price spread, last 3 days (all we have)+0.014%+$1 · spread now −0.060%, 7d avg −0.070%
Together, before fees−0.245%−$25 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.070%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.259%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix HYPE93.6180.0009pay 0.0001% / 1h22m 24s$214K$1.2M10x
ShortPhemex HYPEUSDT93.5620.0070get 0.0070% / 8h22m 24s$12.7M$2.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex 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

Funding earned
$12.97
Price spread: −0.060% → −0.070%
$1.06
Slippage, 4 orders
−$33.38
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Phemex: 6 bp × 2 orders
−$12
Net
−$38.35
Costs to cover
0.524%
Break-even
27.7 days
Slippage from Phoenix: live order book, 1 min ago; Phemex: 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 ago1.50 bp6.3 bp −$612.7 bp −$127doesn't fitdoesn't fit
Sell Phemex live order book, 2 min ago3.96 bp15.5 bp −$1532.0 bp −$320doesn't fitdoesn'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−0.0960%1h93.526−0.098%$198K$230K7xas long as short
Aftermath Perps HYPEUSD−0.0387%1h93.637+0.020%$22K$22K10xas long as short
Arcus HYPE-USD−0.0233%1h93.581−0.040%$1.2M$3.8M10xas long as short
Ondo Perps HYPE-USD.P−0.0082%1h93.450−0.179%$703K$910K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.557−0.065%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0056%1h93.708+0.096%$86K$366K20xas long as short
Orderly PERP_HYPE_USDC−0.0001%4h93.709+0.097%$168K$586K20xas long as short
dYdX HYPE-USD0.0000%1h93.662+0.047%$127K$30K5xas long as short
Perpl HYPE0.0000%43m93.712+0.100%$23K$329K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.737+0.127%$26K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0006%4h93.699+0.087%$8.9M$36.0M300xas long as short
Phoenix HYPElong+0.0009%1h93.618long leg$214K$1.2M10x
Bybit HYPEUSDT+0.0017%8h93.700+0.088%$322.1M$283.7M75xas long as short
Derive HYPE-PERP+0.0020%1h93.662+0.047%$16.4M$7.1M10xas long as short
Binance HYPEUSDT+0.0049%4h93.716+0.104%$383.0M$896.4M75xas long as short
MEXC HYPE_USDT+0.0050%4h93.633+0.016%$87.8M$81.9M100xas long as short
edgeX HYPEUSDC+0.0062%4h93.464−0.165%$5.1M$29.7M30xas long as short
Phemex HYPEUSDTshort+0.0070%8h93.562−0.060%$12.7M$2.6M50x
Gate HYPE_USDT+0.0076%4h93.698+0.085%$44.0M$59.7M75xas long as short
Popdex HYPEUSDT+0.0080%1h93.735+0.125%$59K$1.2M50xas long as short
Bullet HYPE-USD+0.0093%1h93.707+0.095%$113K$576K20xas long as short
Lighter HYPE+0.0096%1h93.662+0.047%$18.8M$60.2M20xas long as short
Lighter RH HYPE+0.0096%1h93.598−0.021%$3.0M$12.3M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.730+0.119%$399K$318K20xas long as short
OKX HYPE-USDT-SWAP+0.0099%8h93.690+0.077%$115.5M$321.2M50xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.674+0.060%$340K$171K20xas long as short
Katana Perps HYPE-USD+0.0099%8h93.650+0.034%$16K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.665+0.050%$5.7M$44.4M10xas long as short
Pacifica HYPE+0.0100%1h93.657+0.042%$10.1M$14.5M20xas long as short
Bulk HYPE-USD+0.0100%1h93.625+0.007%$204K$7K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.711+0.099%$46.4M$18.6M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.714+0.103%$227.0M$102.5M75xas long as short
BingX HYPE-USDT+0.0100%4h93.696+0.083%—$54.1M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.574−0.047%$7.8M$10.5M20xas long as short
Variational Omni HYPE+0.0100%8h93.574−0.047%$31.2M$54.0M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.619+0.001%$7.6M$45.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.485−0.142%$358K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h93.514−0.111%$676K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.699+0.086%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.732+0.122%$491K$2.4M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.699+0.087%$76K$171K20xas long as short
SunX HYPE-USDT+0.0100%4h93.570−0.051%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.548−0.075%$2.0M$2.0M10xas long as short
Injective HYPE/USDC PERP+0.0104%1h94.410+0.846%$31K$338K12xas long as short
Extended HYPE-USD+0.0104%1h93.657+0.042%$18.4M$42.8M50xas long as short
Kalshi KXHYPEPERP+0.0134%8h93.585−0.035%$1.9M$5.0M2.3xas long as short
Hyperliquid HYPE+0.0150%1h93.759+0.151%$2.04B$677.3M10xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h93.610−0.009%$4.9M$5.7M50xas long as short
BloFin HYPE-USDT+0.0203%4h93.528−0.096%$17.1M$12.6M75xas long as short
HTX HYPE-USDT+0.0206%4h93.745+0.136%$1.5M$7.8M75xas long as short
Reya HYPERUSDPERP+0.0249%1h93.690+0.077%$77K$142K15xas long as short
RISEx HYPE/USDC+0.0284%1h93.741+0.131%$2.8M$6.9M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0337% / S −0.0163%1h93.733+0.123%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0550%1h93.822+0.218%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSD+0.0580%1h93.633+0.016%$20.9M$29.5M50xas long as short