HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0542%/8h= +59.3% APRnext payment +$0.68 per $10,000 · paid last 24h +0.053%

Price spread now: RISEx against Phoenix−0.101%7-day average −0.103% · 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−$15as in the Price arb table

costs, in and out, $10k−$160.156% of the position

Long on Phoenix Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.034%+$3 on $10k

Price spread, last 7 days−0.016%−$2 · spread now −0.101%, 7d avg −0.103%

Together, before fees+0.018%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.103%, so right now this pair is about funding alone: +$16 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.034% in total (about 3.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.68 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix HYPE	94.307	0.0017	pay 0.0002% / 1h	12m 03s	$207K	$1.1M	10x
Short	RISEx HYPE/USDC	94.212	0.0559	get 0.0070% / 1h	12m 03s	$3.1M	$6.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.101%Rate

Funding earned: $113.82
Price spread: −0.101% → −0.103%: $0.15
Slippage, 4 orders: −$2.6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee RISEx: 3 bp × 2 orders: −$6
Net: $98.37
Costs to cover: 0.156%
Break-even: 0.9 days

Slippage from Phoenix: live order book, 1 min ago; RISEx: live order book, 2 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, 1 min ago	0.05 bp	3.6 bp −$4	8.3 bp −$83	doesn't fit	doesn't fit
Sell RISEx live order book, 2 min ago	1.17 bp	4.2 bp −$4	5.3 bp −$53	doesn't fit	doesn't fit

HYPE on 54 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	−0.1128%	1h	94.158	−0.158%	$200K	$236K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0168%	1h	94.261	−0.048%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.151	−0.165%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0077%	1h	94.200	−0.113%	$709K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0063%	1h	94.292	−0.016%	$112K	$578K	20x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	94.305	−0.002%	$87K	$367K	20x	as long as short
Bluefin HYPE-PERP	−0.0029%	1h	94.281	−0.028%	$80K	$155K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0012%	4h	94.242	−0.069%	$146K	$686K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.298	−0.009%	$129K	$26K	5x	as long as short
Bybit HYPEUSDT	0.0000%	8h	94.213	−0.100%	$317.0M	$289.0M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXHYPEPERP	0.0000%	8h	94.300	−0.007%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.254	−0.057%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.183	−0.132%	$84K	—	150x	as long as short
Phoenix HYPElong	+0.0017%	1h	94.307	long leg	$207K	$1.1M	10x
Bitget HYPEUSDT	+0.0054%	4h	94.232	−0.080%	$227.1M	$99.3M	75x	as long as short
Phemex HYPEUSDT	+0.0061%	8h	94.230	−0.082%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0075%	8h	94.222	−0.090%	$337K	$156K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.218	−0.094%	$1.0M	$3.5M	10x	as long as short
edgeX HYPEUSDC	+0.0091%	4h	94.283	−0.025%	$5.0M	$30.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.270	−0.039%	$16.3M	$64.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.272	−0.037%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.295	−0.013%	$79K	$1.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0099%	8h	94.225	−0.087%	$116.4M	$319.4M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.270	−0.039%	$17K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.225	−0.086%	$7.5M	$50.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.339	+0.034%	$2.08B	$688.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.253	−0.057%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.239	−0.072%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.269	−0.040%	$377.1M	$931.6M	75x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.252	−0.058%	$49.3M	$57.0M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.243	−0.068%	$89.9M	$85.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.243	−0.068%	$46.9M	$18.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.252	−0.058%	—	$53.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.282	−0.027%	$7.2M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.209	−0.104%	$29.1M	$55.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.360	+0.056%	$7.6M	$47.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.320	+0.014%	$363K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.226	−0.086%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.332	+0.027%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.314	+0.007%	$495K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.297	−0.011%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.272	−0.037%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.437	+0.138%	$1.4M	$6.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.275	−0.034%	$218K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.213	−0.100%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.328	+0.022%	$399K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.230	−0.082%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.343	+0.039%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.550	+0.258%	$31K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0269%	1h	94.375	+0.072%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.254	−0.056%	$83K	$134K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.117	−0.201%	$16.9M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0412%	1h	94.335	+0.029%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDCshort	+0.0559%	1h	94.212	−0.101%	$3.1M	$6.4M	20x