HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0049%/8h= −5.3% APRnext payment −$0.06 per $10,000 · paid last 24h 0.000%

Price spread now: Kraken Futures against Reya+0.105%7-day average +0.064% · you sell dearer than you buy

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

Long on Reya Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.065%+$6 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now +0.105%, 7d avg +0.064%

Together, before fees−0.003%+ Points / potential airdropReya: Active · farm board$0 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.041% dearer against Reya than usual: you sell high and buy low (spread +0.105% now, against its 7-day average of +0.064%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.8 days. Mind the row above: over the last 4 days funding on this pair paid +0.065%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya HYPERUSDPERP	94.125	0.0272	pay 0.0034% / 1h	58m 16s	$82K	$134K	15x
Short	Kraken Futures PF_HYPEUSD	94.224	0.0223	get 0.0028% / 1h	58m 16s	$20.2M	$30.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Reya. 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 ReyabpFee Kraken FuturesbpOrdersPrice spread, now +0.105%Rate

Funding earned: −$10.2
Price spread: +0.105% → +0.064%: $4.1
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$22.1
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Kraken Futures: live order book, 6 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 Kraken Futures live order book, 6 min ago	1.22 bp	9.6 bp −$10	13.9 bp −$139	21.2 bp −$2,118	66.5 bp −$33.3K

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-P	−0.1096%	1h	94.080	−0.047%	$201K	$235K	7x	as long as short
Bluefin HYPE-PERP	−0.0467%	1h	94.128	+0.003%	$79K	$155K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0341%	1h	94.090	−0.037%	$709K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0326%	1h	94.152	+0.029%	$111K	$576K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0169%	1h	94.212	+0.093%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0144%	1h	94.154	+0.031%	$87K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.103	−0.023%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.128	+0.003%	$1.0M	$3.5M	10x	as long as short
Bybit HYPEUSDT	−0.0011%	8h	94.160	+0.037%	$317.2M	$289.7M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0008%	4h	94.131	+0.006%	$146K	$685K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	−0.0006%	4h	94.162	+0.039%	—	$53.5M	—	as long as short
dYdX HYPE-USD	0.0000%	1h	94.176	+0.054%	$129K	$26K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.231	+0.113%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.157	+0.034%	$19K	$287K	10x	as long as short
Derive HYPE-PERP	+0.0001%	1h	94.110	−0.016%	$16.4M	$7.5M	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.195	+0.074%	$117K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.254	+0.137%	$208K	$1.1M	10x	as long as short
Lighter HYPE	+0.0040%	1h	94.079	−0.049%	$16.2M	$63.8M	20x	as long as short
Bitget HYPEUSDT	+0.0042%	4h	94.153	+0.030%	$226.5M	$100.0M	75x	as long as short
Phemex HYPEUSDT	+0.0058%	8h	94.167	+0.045%	$12.8M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0059%	8h	94.139	+0.015%	$336K	$156K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.210	+0.090%	$4.7M	$6.2M	50x	as long as short
edgeX HYPEUSDC	+0.0082%	4h	94.140	+0.016%	$5.0M	$30.8M	30x	as long as short
Polymarket Perps HYPE-USD	+0.0088%	1h	94.156	+0.033%	$495K	$2.8M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0089%	8h	94.167	+0.045%	$117.4M	$322.5M	50x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.103	−0.023%	$3.2M	$10.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.143	+0.019%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.180	+0.058%	$14K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.139	+0.015%	$7.3M	$50.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.232	+0.113%	$2.07B	$689.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.171	+0.049%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.143	+0.019%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.169	+0.047%	$376.8M	$932.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.065	−0.064%	$217K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.150	+0.027%	$49.5M	$55.9M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.137	+0.013%	$90.7M	$81.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.133	+0.008%	$46.9M	$18.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.127	+0.002%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.059	−0.071%	$29.1M	$55.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.167	+0.045%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.120	−0.005%	$362K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.157	+0.034%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.182	+0.061%	—	$243K	5x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.216	+0.097%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.164	+0.041%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.261	+0.144%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.137	+0.013%	$18.3M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.158	+0.035%	$398K	$159K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0021%	1h	94.194	+0.073%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.550	+0.451%	$31K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSDshort	+0.0223%	1h	94.224	+0.105%	$20.2M	$30.3M	50x
RISEx HYPE/USDC	+0.0249%	1h	94.174	+0.052%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERPlong	+0.0272%	1h	94.125	long leg	$82K	$134K	15x
Deribit HYPE_USDC-PERPETUAL	+0.0281%	1h	94.260	+0.143%	$7.4M	$4.3M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.136	+0.012%	$17.0M	$12.4M	75x	as long as short