HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0097%/8h= −10.6% APRnext payment −$0.12 per $10,000 · paid last 24h −0.038%

Price spread now: 01 Exchange against Phoenix−0.121%52s7-day average −0.056% · 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−$190.189% of the position

Long on Phoenix Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.154%−$15 on $10k

Price spread, last 4 days (all we have)+0.314%+$31 · spread now −0.121%, 7d avg −0.056%

Together, before fees+0.160%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and 01 Exchange is 0.065% cheaper against Phoenix than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.056%). Swap the legs. The two prices were read 52 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	95.333	0.0017	pay 0.0002% / 1h	54m 19s	$201K	$1.1M	10x
Short	01 Exchange HYPEUSD	95.218	−0.0080	pay 0.0010% / 1h	54m 19s	$92K	$337K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.121%Rate

Funding earned: −$20.33
Price spread: −0.121% → −0.056%: −$6.49
Slippage, 4 orders: −$4.9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$45.73
Costs to cover: 0.189%
Break-even: never at this rate

Slippage from Phoenix: live order book, 2 min ago; 01 Exchange: live order book, 58 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, 2 min ago	0.05 bp	4.1 bp −$4	8.6 bp −$86	doesn't fit	doesn't fit
Sell 01 Exchange live order book, 58 min ago	0.10 bp	5.6 bp −$6	doesn't fit	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	−0.1272%	1h	95.275	−0.061%	$213K	$261K	7x	as long as short
Phemex HYPEUSDT	−0.0283%	8h	95.208	−0.131%	$13.0M	$2.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0251%	1h	95.218	−0.121%	$18.5M	$35.2M	50x	as long as short
Bullet HYPE-USD	−0.0146%	1h	95.222	−0.116%	$114K	$581K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0135%	1h	95.258	−0.078%	$22K	$17K	10x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.220	−0.119%	$1.1M	$2.4M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0124%	1h	95.160	−0.181%	$690K	$1.3M	10x	as long as short
Lighter HYPE	−0.0096%	1h	95.200	−0.139%	$16.3M	$57.5M	20x	as long as short
01 Exchange HYPEUSDshort	−0.0080%	1h	95.218	−0.121%	$92K	$337K	20x
Hotstuff HYPE-PERP	−0.0080%	1h	95.191	−0.149%	$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
Gate HYPE_USDT	−0.0072%	4h	95.212	−0.127%	$54.7M	$53.1M	75x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	95.250	−0.087%	$4.7M	$5.6M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0040%	4h	95.180	−0.160%	$148K	$643K	20x	as long as short
Aster HYPEUSDT	−0.0028%	4h	95.225	−0.114%	$9.0M	$32.9M	300x	as long as short
OKX HYPE-USDT-SWAP	−0.0011%	8h	95.195	−0.145%	$119.3M	$303.3M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	95.259	−0.078%	$129K	$94K	5x	as long as short
Perpl HYPE	0.0000%	43m	95.197	−0.142%	$24K	$251K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.248	−0.090%	$100K	—	150x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0012%	1h	95.297	−0.038%	$7.5M	$4.3M	50x	as long as short
Phoenix HYPElong	+0.0017%	1h	95.333	long leg	$201K	$1.1M	10x
Bitget HYPEUSDT	+0.0020%	4h	95.216	−0.123%	$228.8M	$86.9M	75x	as long as short
Popdex HYPEUSDT	+0.0024%	1h	95.218	−0.121%	$274K	$1.0M	50x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	95.212	−0.127%	$320.8M	$266.6M	75x	as long as short
SoDEX HYPE-USD	+0.0049%	1h	95.202	−0.137%	$2.1M	$373K	10x	as long as short
Bulk HYPE-USD	+0.0074%	1h	95.269	−0.067%	$232K	$12K	10x	as long as short
Paradex HYPE-USD-PERP	+0.0075%	8h	95.235	−0.103%	$340K	$35K	20x	as long as short
edgeX HYPEUSDC	+0.0092%	4h	95.253	−0.084%	$5.1M	$29.1M	30x	as long as short
Vest HYPE-PERP	+0.0093%	1h	95.297	−0.038%	—	$80K	5x	as long as short
Bluefin HYPE-PERP	+0.0094%	1h	95.212	−0.127%	$79K	$136K	20x	as long as short
MEXC HYPE_USDT	+0.0094%	4h	95.205	−0.134%	$90.7M	$83.0M	100x	as long as short
Binance HYPEUSDT	+0.0096%	4h	95.208	−0.131%	$382.8M	$856.2M	75x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.244	−0.093%	$3.3M	$10.0M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.200	−0.140%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.215	−0.124%	$7.3M	$51.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.255	−0.082%	$10.3M	$13.3M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.230	−0.108%	$48.1M	$17.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.224	−0.114%	—	$49.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.305	−0.029%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.251	−0.086%	$30.0M	$53.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.301	−0.034%	$7.7M	$39.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.191	−0.149%	$347K	$883K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.269	−0.067%	$693K	$2.8M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.252	−0.085%	$504K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.291	−0.044%	$33K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.326	−0.007%	$1.4M	$5.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.184	−0.157%	$18.4M	$39.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.219	−0.119%	$403K	$130K	20x	as long as short
Hyperliquid HYPE	+0.0114%	1h	95.334	+0.001%	$2.11B	$645.2M	10x	as long as short
Kalshi KXHYPEPERP	+0.0123%	8h	95.315	−0.019%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.261	−0.075%	$3.2M	$5.5M	20x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	95.188	−0.153%	$85K	$100K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.293	−0.042%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0338%	4h	95.266	−0.070%	$17.3M	$11.5M	75x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.400	+0.070%	$31K	$334K	12x	as long as short