HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h −0.004%

Price spread now: SoDEX against Phoenix−0.204%7-day average −0.083% · 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−$33as in the Price arb table

costs, in and out, $10k−$210.215% of the position

Long on Phoenix Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.094%−$9 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.204%, 7d avg −0.083%

Together, before fees−0.062%−$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. SoDEX is 0.120% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.204% now, against its 7-day average of −0.083%). If the spread goes back, that is −$12 on $10k: about 13 days of funding at the current rate (+$1 a day). Mind the row above: over the last 4 days funding on this pair cost −0.094%, 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	95.326	−0.0008	get 0.0001% / 1h	51m 00s	$199K	$1.1M	10x
Short	SoDEX HYPE-USD	95.132	0.0023	get 0.0003% / 1h	51m 00s	$2.1M	$372K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.204%Rate

Funding earned: $6.68
Price spread: −0.204% → −0.083%: −$12.02
Slippage, 4 orders: −$6.46
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$26.8
Costs to cover: 0.215%
Break-even: 35.1 days

Slippage from Phoenix: live order book, 5 min ago; SoDEX: live order book, 1 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, 5 min ago	0.05 bp	4.1 bp −$4	8.6 bp −$86	doesn't fit	doesn't fit
Sell SoDEX live order book, 1 min ago	0.05 bp	7.1 bp −$7	12.6 bp −$126	doesn't fit	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	−0.1128%	1h	95.252	−0.078%	$215K	$263K	7x	as long as short
Phemex HYPEUSDT	−0.0275%	8h	95.200	−0.132%	$13.0M	$2.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0251%	1h	95.149	−0.185%	$18.5M	$35.2M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0183%	1h	95.090	−0.248%	$689K	$1.3M	10x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.142	−0.193%	$1.1M	$2.4M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0129%	1h	95.226	−0.105%	$22K	$17K	10x	as long as short
Lighter HYPE	−0.0120%	1h	95.131	−0.205%	$16.3M	$57.5M	20x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	95.163	−0.171%	$95K	$339K	20x	as long as short
Gate HYPE_USDT	−0.0086%	4h	95.148	−0.187%	$54.7M	$53.1M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.191	−0.142%	$3K	$331	25x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.140	−0.195%	$4.7M	$5.5M	50x	as long as short
Bullet HYPE-USD	−0.0056%	1h	95.160	−0.175%	$114K	$581K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0044%	4h	95.095	−0.242%	$148K	$643K	20x	as long as short
Aster HYPEUSDT	−0.0040%	4h	95.139	−0.196%	$9.0M	$32.8M	300x	as long as short
Popdex HYPEUSDT	−0.0024%	1h	95.173	−0.161%	$274K	$1.0M	50x	as long as short
OKX HYPE-USDT-SWAP	−0.0013%	8h	95.110	−0.227%	$119.2M	$302.7M	50x	as long as short
Phoenix HYPElong	−0.0008%	1h	95.326	long leg	$199K	$1.1M	10x
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
Deribit HYPE_USDC-PERPETUAL	0.0000%	1h	95.228	−0.103%	$7.5M	$4.3M	50x	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	95.132	−0.204%	$228.7M	$86.8M	75x	as long as short
SoDEX HYPE-USDshort	+0.0023%	1h	95.132	−0.204%	$2.1M	$372K	10x
Bybit HYPEUSDT	+0.0024%	8h	95.133	−0.202%	$320.4M	$265.7M	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	95.125	−0.211%	$339K	$35K	20x	as long as short
edgeX HYPEUSDC	+0.0078%	4h	95.131	−0.204%	$5.1M	$29.2M	30x	as long as short
Bluefin HYPE-PERP	+0.0084%	1h	95.149	−0.186%	$79K	$135K	20x	as long as short
MEXC HYPE_USDT	+0.0086%	4h	95.125	−0.211%	$90.2M	$83.1M	100x	as long as short
Binance HYPEUSDT	+0.0086%	4h	95.131	−0.205%	$382.5M	$852.4M	75x	as long as short
StandX HYPE-USD	+0.0091%	1h	95.125	−0.211%	$692K	$2.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.159	−0.175%	$3.3M	$10.0M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.110	−0.227%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.105	−0.232%	$7.4M	$51.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.256	−0.073%	$2.11B	$645.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.158	−0.176%	$10.3M	$13.3M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.121	−0.215%	$48.1M	$17.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.153	−0.181%	—	$49.3M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.195	−0.137%	$7.8M	$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	95.192	−0.141%	$7.7M	$39.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.135	−0.200%	$347K	$882K	50x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.200	−0.132%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.189	−0.144%	$504K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.208	−0.124%	$33K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.277	−0.051%	$1.4M	$5.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.093	−0.244%	$18.4M	$39.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.114	−0.222%	$402K	$130K	20x	as long as short
Kalshi KXHYPEPERP	+0.0124%	8h	95.235	−0.095%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.199	−0.133%	$3.2M	$5.5M	20x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	95.108	−0.229%	$85K	$96K	15x	as long as short
BloFin HYPE-USDT	+0.0326%	4h	95.132	−0.204%	$17.3M	$11.4M	75x	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
Injective HYPE/USDC PERP	+0.0969%	1h	95.500	+0.183%	$31K	$334K	12x	as long as short