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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.004%
Price spread now: Bulk against Popdex+0.162%7-day average +0.027% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$2as in the Price arb table
costs, in and out, $10k−$150.154% of the position
Long on PopdexShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.009%+$1 on $10k
Price spread, last 4 days (all we have)−0.322%−$32 · spread now +0.162%, 7d avg +0.027%
Together, before fees−0.313%−$31 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.135% dearer against Popdex than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.027%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPopdex HYPEUSDT93.1930.0096pay 0.0012% / 1h33m 02s$75K$1.2M50x
ShortBulk HYPE-USD93.3440.0100get 0.0013% / 1h33m 02s$215K$15K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against Popdex. 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
$0.84
Price spread: +0.162% → +0.027%
$13.49
Slippage, 4 orders
−$2.01
Fee Popdex: 3.2 bp × 2 orders
−$6.4
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
−$1.08
Costs to cover
0.154%
Break-even
16.0 days
Slippage from Popdex: live order book, 1 min ago; Bulk: live order book, 16 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 Popdex live order book, 1 min ago0.11 bp3.4 bp −$34.9 bp −$4961.0 bp −$6,097doesn't fit
Sell Bulk live order book, 16 min ago0.53 bp4.0 bp −$46.1 bp −$6114.9 bp −$1,48647.3 bp −$23.7K

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−0.1616%1h93.216+0.025%$196K$234K7xas long as short
Aftermath Perps HYPEUSD−0.0362%1h93.332+0.149%$22K$21K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.200+0.008%$3K$33125xas long as short
Bullet HYPE-USD−0.0059%1h93.188−0.006%$111K$578K20xas long as short
Orderly PERP_HYPE_USDC−0.0023%4h93.194+0.001%$146K$662K20xas long as short
01 Exchange HYPEUSD−0.0016%1h93.199+0.006%$87K$366K20xas long as short
dYdX HYPE-USD0.0000%1h93.206+0.013%$128K$29K5xas long as short
Perpl HYPE0.0000%43m93.213+0.022%$22K$290K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.217+0.025%$62K—150xas long as short
Arcus HYPE-USD+0.0011%1h93.1930.000%$1.0M$4.0M10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps HYPE-USD.P+0.0013%1h93.090−0.111%$702K$1.2M10xas long as short
Bitget HYPEUSDT+0.0016%4h93.222+0.031%$225.3M$98.9M75xas long as short
Bybit HYPEUSDT+0.0021%8h93.206+0.014%$316.6M$283.0M75xas long as short
Phoenix HYPE+0.0026%1h93.263+0.075%$207K$1.2M10xas long as short
Phemex HYPEUSDT+0.0051%8h93.225+0.034%$12.6M$2.7M50xas long as short
Paradex HYPE-USD-PERP+0.0094%8h93.216+0.025%$339K$162K20xas long as short
edgeX HYPEUSDC+0.0095%4h93.463+0.290%$5.0M$30.0M30xas long as short
Lighter HYPE+0.0096%1h93.205+0.013%$16.1M$63.1M20xas long as short
Lighter RH HYPE+0.0096%1h93.200+0.008%$3.1M$11.5M20xas long as short
Popdex HYPEUSDTlong+0.0096%1h93.193long leg$75K$1.2M50x
Katana Perps HYPE-USD+0.0100%8h93.210+0.018%$28K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.168−0.027%$8.0M$48.4M10xas long as short
Hyperliquid HYPE+0.0100%1h93.270+0.083%$2.03B$668.9M10xas long as short
Aster HYPEUSDT+0.0100%4h93.228+0.038%$8.7M$36.5M300xas long as short
Pacifica HYPE+0.0100%1h93.211+0.019%$10.0M$15.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.234+0.044%$373.6M$913.6M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.222+0.031%$114.2M$309.4M50xas long as short
Gate HYPE_USDT+0.0100%4h93.218+0.027%$46.6M$54.3M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.218+0.027%$89.7M$80.9M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.195+0.002%$46.0M$18.9M75xas long as short
BingX HYPE-USDT+0.0100%4h93.214+0.023%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.258+0.070%$7.3M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h93.351+0.169%$28.6M$56.3M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.365+0.185%$7.5M$47.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.496+0.325%$343K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.342+0.160%$668K$2.9M20xas long as short
Vest HYPE-PERP+0.0100%1h93.269+0.082%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.198+0.005%$483K$2.7M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.171−0.024%$79K$166K20xas long as short
Derive HYPE-PERP+0.0100%1h93.168−0.027%$16.1M$7.5M10xas long as short
SunX HYPE-USDT+0.0100%4h93.189−0.004%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.190−0.003%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h93.307+0.122%$1.4M$6.5M75xas long as short
Bulk HYPE-USDshort+0.0100%1h93.344+0.162%$215K$15K10x
Extended HYPE-USD+0.0104%1h93.162−0.033%$18.1M$43.2M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.189−0.004%$394K$158K20xas long as short
Kalshi KXHYPEPERP+0.0110%8h93.296+0.111%$1.8M$5.7M2.3xas long as short
Injective HYPE/USDC PERP+0.0122%1h93.130−0.068%$30K$339K12xas long as short
Coinbase International HYPE-PERP-INTX+0.0144%1h93.240+0.050%$4.8M$5.6M50xas long as short
Reya HYPERUSDPERP+0.0269%1h93.181−0.013%$80K$129K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0154%1h93.206+0.014%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.202+0.010%$16.9M$11.9M75xas long as short
Kraken Futures PF_HYPEUSD+0.0342%1h93.256+0.068%$20.8M$29.6M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0437%1h93.284+0.098%$7.5M$4.0M50xas long as short
RISEx HYPE/USDC+0.0527%1h93.294+0.109%$3.2M$6.3M20xas long as short