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Funding arb · Price arb /

HYPE

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Alert: funding
Measured
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Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 02:00 UTC−0.0185%/8h= −20.2% APRpaid last 24h −0.051%
Price spread now: OKX against Reya+0.116%57s7-day average −0.010% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on ReyaShort on OKX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.023%−$2 on $10k
Price spread, last 4 days (all we have)−1.242%−$124 · spread now +0.116%, 7d avg −0.010%
Together, before fees−1.264%+ Points / potential airdropReya: Active · farm board−$126 on $10k · with fees, hour by hour
The price spread pays, funding is against you. OKX is 0.126% dearer against Reya than usual: you sell high and buy low (spread +0.116% now, against its 7-day average of −0.010%): +$13 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.3 days. At the pace of the last 3 days (−0.023% in total) that is about 18 days. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.023% in total (about -2.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongReya HYPERUSDPERP93.6580.0255pay 0.0032% / 1h16m 36s$80K$140K15x
ShortOKX HYPE-USDT-SWAP93.7660.0071get 0.0071% / 8h6h 16m$115.4M$307.7M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

OKX 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

Funding earned
−$38.76
Price spread: +0.116% → −0.010%
$12.57
Slippage, 4 orders
no order book: not counted
Fee Reya: 3 bp × 2 orders
−$6
Fee OKX: 5 bp × 2 orders
−$10
Net
−$42.19
Costs to cover
0.160%
Break-even
never at this rate
Slippage unknown: Reya: no order-book sample; OKX: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Reya no order-book sample—————
Sell OKX live order book, 2 min ago0.05 bp5.2 bp −$57.9 bp −$7917.6 bp −$1,756doesn'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 54 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−0.1040%1h93.615−0.045%$197K$229K7xas long as short
Arcus HYPE-USD−0.0786%1h93.624−0.036%$1.2M$3.8M10xas long as short
Phemex HYPEUSDT−0.0106%8h93.687+0.031%$12.7M$2.7M50xas long as short
Aftermath Perps HYPEUSD−0.0084%1h93.779+0.130%$22K$21K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.702+0.047%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0066%1h93.650−0.008%$701K$921K10xas long as short
Orderly PERP_HYPE_USDC−0.0056%4h93.688+0.032%$156K$646K20xas long as short
01 Exchange HYPEUSD−0.0048%1h93.793+0.145%$85K$349K20xas long as short
Backpack HYPE_USDC_PERP−0.0031%1h93.664+0.007%$7.8M$10.3M20xas long as short
Gate HYPE_USDT−0.0006%4h93.735+0.083%$44.4M$55.2M75xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT−0.0005%4h93.723+0.070%$8.8M$35.8M300xas long as short
dYdX HYPE-USD0.0000%1h93.751+0.099%$129K$31K5xas long as short
Perpl HYPE0.0000%43m93.707+0.053%$22K$325K10xas long as short
BingX HYPE-USDT+0.0002%4h93.743+0.091%—$53.6M—as long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.726+0.073%$26K—150xas long as short
Bybit HYPEUSDT+0.0013%8h93.767+0.117%$321.9M$279.8M75xas long as short
Phoenix HYPE+0.0060%1h93.766+0.116%$213K$1.2M10xas long as short
MEXC HYPE_USDT+0.0066%4h93.719+0.066%$88.9M$83.3M100xas long as short
Binance HYPEUSDT+0.0070%4h93.782+0.133%$381.8M$889.1M75xas long as short
OKX HYPE-USDT-SWAPshort+0.0071%8h93.766+0.116%$115.4M$307.7M50x
Bullet HYPE-USD+0.0073%1h93.711+0.057%$111K$577K20xas long as short
edgeX HYPEUSDC+0.0085%4h93.690+0.035%$5.1M$30.0M30xas long as short
Lighter HYPE+0.0096%1h93.752+0.101%$16.4M$62.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.772+0.122%$3.1M$11.9M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.778+0.129%$67K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.713+0.059%$399K$175K20xas long as short
Paradex HYPE-USD-PERP+0.0096%8h93.746+0.095%$341K$164K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.760+0.109%$21K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.638−0.020%$5.7M$44.7M10xas long as short
Hyperliquid HYPE+0.0100%1h93.838+0.193%$2.05B$666.0M10xas long as short
Pacifica HYPE+0.0100%1h93.754+0.102%$10.1M$14.7M20xas long as short
Bulk HYPE-USD+0.0100%1h93.760+0.109%$204K$10K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.775+0.125%$46.4M$18.0M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.728+0.075%$227.0M$98.2M75xas long as short
Variational Omni HYPE+0.0100%8h93.748+0.096%$31.1M$54.6M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.737+0.085%$7.6M$47.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.706+0.052%$339K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.696+0.041%$669K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.723+0.070%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.730+0.077%$473K$2.4M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.682+0.026%$79K$170K20xas long as short
Derive HYPE-PERP+0.0100%1h93.688+0.032%$16.3M$7.7M10xas long as short
SunX HYPE-USDT+0.0100%4h93.728+0.075%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.718+0.064%$2.0M$1.9M10xas long as short
Extended HYPE-USD+0.0104%1h93.706+0.052%$18.3M$44.0M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.730+0.077%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.610−0.051%$30K$339K12xas long as short
HTX HYPE-USDT+0.0195%4h93.862+0.218%$1.4M$5.9M75xas long as short
RISEx HYPE/USDC+0.0210%1h93.847+0.202%$3.2M$7.0M20xas long as short
Reya HYPERUSDPERPlong+0.0255%1h93.658long leg$80K$140K15x
Kalshi KXHYPEPERP+0.0280%8h93.777+0.127%$1.9M$4.9M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0156%1h93.730+0.077%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0401%1h93.812+0.165%$7.4M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0680%1h93.821+0.174%$21.0M$29.8M50xas long as short