HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0057%/8h= +6.2% APRnext payment +$0.07 per $10,000 · paid last 24h +0.069%

Price spread now: Injective against Popdex+0.850%106s7-day average +0.154% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Popdex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.744%+$74 on $10k

Price spread, last 4 days (all we have)−0.945%−$95 · spread now +0.850%, 7d avg +0.154%

Together, before fees−0.201%−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Injective is 0.696% dearer against Popdex than usual: you sell high and buy low: +$70 more if the spread goes back to its 7-day average of +0.154%. The two prices were read 106 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	Popdex HYPEUSDT	94.368	0.0096	pay 0.0012% / 1h	31m 30s	$148K	$1.2M	50x
Short	Injective HYPE/USDC PERP	95.170	0.0153	get 0.0019% / 1h	31m 30s	$31K	$340K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Popdex. 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 PopdexbpFee InjectivebpOrdersPrice spread, now +0.850%Rate

Funding earned: $11.93
Price spread: +0.850% → +0.154%: $69.6
Slippage, 4 orders: no order book: not counted
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $75.11
Costs to cover: 0.064%
Break-even: from the start

Slippage unknown: Popdex: live order book, 3 min ago; Injective: live order book, 3 min ago. Net counts fees only.

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 Popdex live order book, 3 min ago	0.21 bp	3.4 bp −$3	4.1 bp −$41	23.4 bp −$2,338	doesn't fit
Sell Injective live order book, 3 min ago	42.20 bp	3858.0 bp −$3,858	doesn't fit	doesn't fit	doesn't fit

HYPE on 55 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	−0.0824%	1h	94.246	−0.129%	$210K	$271K	7x	as long as short
Bluefin HYPE-PERP	−0.0624%	1h	94.167	−0.213%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0295%	1h	94.605	+0.251%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0258%	1h	94.287	−0.086%	$112K	$577K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0189%	1h	94.280	−0.093%	$701K	$1.3M	10x	as long as short
Gate HYPE_USDT	−0.0120%	4h	94.224	−0.153%	$51.4M	$55.2M	75x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.304	−0.068%	$1.0M	$3.5M	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	94.378	+0.011%	$89K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.175	−0.205%	$3K	$331	25x	as long as short
Bybit HYPEUSDT	−0.0048%	8h	94.348	−0.021%	$317.8M	$294.7M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_HYPEUSD	−0.0048%	1h	94.187	−0.192%	$18.8M	$35.5M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0010%	4h	94.174	−0.206%	$146K	$681K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.222	−0.154%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.337	−0.033%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.348	−0.021%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.228	−0.148%	$123K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.289	−0.084%	$209K	$1.2M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.240	−0.136%	$4.7M	$6.3M	50x	as long as short
Bitget HYPEUSDT	+0.0030%	4h	94.342	−0.028%	$226.8M	$98.6M	75x	as long as short
Derive HYPE-PERP	+0.0034%	1h	94.592	+0.237%	$16.3M	$7.5M	10x	as long as short
Vest HYPE-PERP	+0.0037%	1h	94.378	+0.011%	—	$190K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0043%	8h	94.240	−0.135%	$337K	$154K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0048%	8h	94.359	−0.010%	$117.7M	$327.7M	50x	as long as short
SoDEX HYPE-USD	+0.0060%	1h	94.205	−0.173%	$2.1M	$2.0M	10x	as long as short
Backpack HYPE_USDC_PERP	+0.0062%	1h	94.145	−0.236%	$7.5M	$10.4M	20x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	94.360	−0.009%	$5.0M	$30.9M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.245	−0.131%	$16.2M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.257	−0.118%	$3.2M	$10.3M	20x	as long as short
Popdex HYPEUSDTlong	+0.0096%	1h	94.368	long leg	$148K	$1.2M	50x
Katana Perps HYPE-USD	+0.0100%	8h	94.300	−0.072%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.320	−0.051%	$7.2M	$51.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.452	+0.089%	$2.07B	$688.7M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.359	−0.010%	$9.6M	$38.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.269	−0.105%	$10.1M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.358	−0.011%	$380.0M	$937.1M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.564	+0.208%	$220K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.260	−0.114%	$92.9M	$86.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.249	−0.126%	$47.0M	$19.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.249	−0.126%	—	$53.6M	—	as long as short
Variational Omni HYPE	+0.0100%	8h	94.619	+0.266%	$30.0M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.643	+0.291%	$7.6M	$44.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.293	−0.079%	$344K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.294	−0.078%	$693K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.418	+0.053%	$498K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.285	−0.088%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.350	−0.019%	$1.4M	$6.9M	75x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	94.236	−0.140%	$12.9M	$2.9M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.218	−0.159%	$18.3M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.331	−0.040%	$399K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.361	−0.007%	$3.1M	$6.4M	20x	as long as short
Injective HYPE/USDC PERPshort	+0.0153%	1h	95.170	+0.850%	$31K	$340K	12x
Deribit HYPE_USDC-PERPETUAL	+0.0238%	1h	94.299	−0.073%	$7.5M	$4.4M	50x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	94.305	−0.066%	$85K	$104K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0156%	1h	94.267	−0.107%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.303	−0.069%	$17.2M	$12.6M	75x	as long as short