HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1288%/8h= −141.1% APRnext payment −$1.61 per $10,000 · paid last 24h −0.279%

Price spread now: Hibachi against Reya−0.016%7-day average −0.053% · you buy dearer than you sell

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

Long on Reya Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−1.085%−$108 on $10k

Price spread, last 4 days (all we have)−0.031%−$3 · spread now −0.016%, 7d avg −0.053%

Together, before fees−1.116%+ Points / potential airdropReya: Active · Hibachi: Active · farm board−$112 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hibachi is 0.037% dearer against Reya than usual: you sell high and buy low (spread −0.016% now, against its 7-day average of −0.053%): +$4 on $10k if it goes back. Holding the pair costs −$39 a day in funding at the current rate, which eats that in about 2 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya HYPERUSDPERP	92.765	0.0264	pay 0.0033% / 1h	42m 31s	$79K	$131K	15x
Short	Hibachi HYPE/USDT-P	92.750	−0.1024	pay 0.0128% / 1h	42m 31s	$193K	$229K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Reya. 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

Position, each leg$Hold fordaysFee ReyabpFee HibachibpOrdersPrice spread, now −0.016%Rate

Funding earned: −$270.56
Price spread: −0.016% → −0.053%: $3.66
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$281.9
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Hibachi: live order book, 11 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 Reya no order-book sample	—	—	—	—	—
Sell Hibachi live order book, 11 min ago	9.25 bp	13.8 bp −$14	37.0 bp −$370	doesn't fit	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-Pshort	−0.1024%	1h	92.750	−0.016%	$193K	$229K	7x
Aftermath Perps HYPEUSD	−0.0272%	1h	92.888	+0.133%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.763	−0.002%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.901	+0.147%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0062%	4h	92.893	+0.138%	$158K	$667K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.929	+0.177%	$127K	$29K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	92.987	+0.240%	$1.8M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	92.813	+0.052%	$22K	$301K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.930	+0.178%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0013%	1h	92.771	+0.006%	$112K	$577K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0026%	1h	92.899	+0.145%	$210K	$1.2M	10x	as long as short
Ondo Perps HYPE-USD.P	+0.0027%	1h	92.850	+0.092%	$698K	$1.1M	10x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	92.770	+0.006%	$315.8M	$282.8M	75x	as long as short
Gate HYPE_USDT	+0.0038%	4h	92.803	+0.041%	$44.7M	$53.9M	75x	as long as short
Phemex HYPEUSDT	+0.0044%	8h	92.922	+0.170%	$12.5M	$2.7M	50x	as long as short
01 Exchange HYPEUSD	+0.0056%	1h	92.817	+0.056%	$87K	$362K	20x	as long as short
Bitget HYPEUSDT	+0.0070%	4h	92.749	−0.017%	$224.7M	$99.1M	75x	as long as short
Popdex HYPEUSDT	+0.0088%	1h	92.784	+0.021%	$69K	$1.1M	50x	as long as short
Aster HYPEUSDT	+0.0095%	4h	92.856	+0.098%	$8.7M	$36.1M	300x	as long as short
Lighter HYPE	+0.0096%	1h	92.832	+0.073%	$16.0M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.847	+0.089%	$3.1M	$11.6M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	92.819	+0.058%	$339K	$163K	20x	as long as short
edgeX HYPEUSDC	+0.0099%	4h	92.872	+0.116%	$4.9M	$29.6M	30x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.780	+0.017%	$39K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.831	+0.071%	$7.5M	$45.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.822	+0.062%	$2.02B	$665.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.836	+0.076%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.794	+0.031%	$373.0M	$904.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.762	−0.003%	$113.8M	$304.0M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.923	+0.171%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.771	+0.007%	$87.1M	$80.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.803	+0.041%	$46.0M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.793	+0.031%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.931	+0.179%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.879	+0.123%	$28.6M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.881	+0.125%	$7.5M	$46.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.846	+0.088%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.940	+0.189%	$668K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.849	+0.091%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.820	+0.060%	$468K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.896	+0.142%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.875	+0.119%	$16.0M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.957	+0.207%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.915	+0.162%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.759	−0.006%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.927	+0.175%	$393K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.990	+0.243%	$4.7M	$5.6M	50x	as long as short
HTX HYPE-USDT	+0.0166%	4h	93.087	+0.347%	$1.4M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.984	+0.237%	$20.6M	$30.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.860	+0.103%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERPlong	+0.0264%	1h	92.765	long leg	$79K	$131K	15x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.940	+0.189%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.918	+0.165%	$16.8M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0417%	1h	92.999	+0.253%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.850	+0.091%	$3.1M	$6.4M	20x	as long as short