Funding you earn now, next payment 07:00 UTC−0.0218%/8h= −23.9% APRpaid last 24h −0.045%
Price spread now: Phemex against Reya−0.004%7-day average +0.033% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.019%−$2 on $10k
+Price spread, last 4 days (all we have)+0.010%+$1 · spread now −0.004%, 7d avg +0.033%
=Together, before fees−0.009%+ Points / potential airdropReya: Active · farm board−$1 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Phemex is 0.037% cheaper against Reya than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.033%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.019% in total (about -2.0% 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.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya HYPERUSDPERP | 94.227 | 0.0272 | pay 0.0034% / 1h | 21m 47s | $77K | $129K | 15x |
| Short | Phemex HYPEUSDT | 94.223 | 0.0054 | get 0.0054% / 8h | 1h 21m | $12.9M | $2.8M | 50x |
Reya HYPERUSDPERP
Phemex HYPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Reya. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$45.8
- Price spread: −0.004% → +0.033%
- −$3.71
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$67.5
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Phemex: 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| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Reya no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 2 min ago | 4.19 bp | 16.3 bp −$16 | 34.5 bp −$345 | 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-P | −0.1048% | 1h | 94.204 | −0.025% | $200K | $238K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0200% | 1h | 94.001 | −0.239% | $22K | $21K | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 94.347 | +0.127% | $3K | $331 | 25x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0070% | 1h | 94.230 | +0.003% | $705K | $1.2M | 10x | as long as short |
| Bullet HYPE-USD | −0.0054% | 1h | 94.240 | +0.014% | $112K | $579K | 20x | as long as short |
| 01 Exchange HYPEUSD | −0.0032% | 1h | 94.291 | +0.068% | $86K | $368K | 20x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0016% | 4h | 94.227 | 0.000% | $146K | $686K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 94.296 | +0.074% | $129K | $26K | 5x | as long as short |
| Bybit HYPEUSDT | 0.0000% | 8h | 94.250 | +0.024% | $317.8M | $289.5M | 75x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 94.289 | +0.066% | $19K | $293K | 10x | as long as short |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Hotstuff HYPE-PERP
Ondo Perps HYPE-USD.P
Bullet HYPE-USD
01 Exchange HYPEUSD
Orderly PERP_HYPE_USDC
dYdX HYPE-USD
Bybit HYPEUSDT
Perpl HYPEShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0001% | 1h | 94.419 | +0.204% | $84K | — | 150x | as long as short |
| Derive HYPE-PERP | +0.0007% | 1h | 93.302 | −0.981% | $16.2M | $7.5M | 10x | as long as short |
| Bluefin HYPE-PERP | +0.0009% | 1h | 94.215 | −0.013% | $80K | $155K | 20x | as long as short |
| Phoenix HYPE | +0.0017% | 1h | 93.715 | −0.543% | $208K | $1.1M | 10x | as long as short |
| Bitget HYPEUSDT | +0.0052% | 4h | 94.270 | +0.046% | $227.2M | $99.7M | 75x | as long as short |
| Phemex HYPEUSDTshort | +0.0054% | 8h | 94.223 | −0.004% | $12.9M | $2.8M | 50x | |
| Paradex HYPE-USD-PERP | +0.0078% | 8h | 94.325 | +0.104% | $337K | $157K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0080% | 4h | 93.620 | −0.644% | $5.0M | $30.5M | 30x | as long as short |
| Arcus HYPE-USD | +0.0084% | 1h | 94.271 | +0.047% | $1.0M | $4.0M | 10x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 94.276 | +0.052% | $16.3M | $64.3M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 94.286 | +0.063% | $3.2M | $11.1M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 94.247 | +0.021% | $78K | $1.2M | 50x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 94.270 | +0.046% | $11K | $1.7M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 94.320 | +0.098% | $7.5M | $50.5M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 94.370 | +0.152% | $2.07B | $686.6M | 10x | as long as short |
| Aster HYPEUSDT | +0.0100% | 4h | 94.270 | +0.045% | $8.9M | $37.2M | 300x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 94.304 | +0.082% | $10.2M | $15.5M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 94.270 | +0.046% | $377.2M | $932.8M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 94.264 | +0.039% | $116.2M | $317.7M | 50x | as long as short |
| Gate HYPE_USDT | +0.0100% | 4h | 94.238 | +0.012% | $48.9M | $56.4M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 94.271 | +0.047% | $89.8M | $84.9M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 94.195 | −0.034% | $46.6M | $18.8M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 94.237 | +0.011% | — | $53.5M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 94.205 | −0.023% | $7.2M | $10.6M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 94.009 | −0.232% | $28.9M | $56.1M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.696 | −0.563% | $7.6M | $48.2M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.663 | −0.599% | $357K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 94.361 | +0.142% | $683K | $2.7M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 94.340 | +0.120% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 94.282 | +0.058% | $473K | $2.8M | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 94.285 | +0.062% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 94.228 | +0.001% | $2.0M | $1.9M | 10x | as long as short |
| HTX HYPE-USDT | +0.0100% | 4h | 94.350 | +0.131% | $1.4M | $6.7M | 75x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.438 | −0.837% | $216K | $15K | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 94.166 | −0.064% | $18.2M | $43.3M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 94.238 | +0.012% | $398K | $159K | 20x | as long as short |
| Kalshi KXHYPEPERP | +0.0106% | 8h | 94.375 | +0.157% | $1.8M | $5.6M | 2.3x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0120% | 1h | 94.320 | +0.099% | $4.7M | $6.2M | 50x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0121% | 1h | 94.318 | +0.097% | $7.5M | $4.3M | 50x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0151% / S +0.0022% | 1h | 94.284 | +0.060% | $1.4M | — | 100x | as long as short |
| Injective HYPE/USDC PERP | +0.0205% | 1h | 94.610 | +0.407% | $31K | $339K | 12x | as long as short |
| Reya HYPERUSDPERPlong | +0.0272% | 1h | 94.227 | long leg | $77K | $129K | 15x | |
| BloFin HYPE-USDT | +0.0340% | 4h | 94.378 | +0.160% | $17.0M | $12.3M | 75x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0412% | 1h | 94.293 | +0.070% | $20.2M | $30.4M | 50x | as long as short |
| RISEx HYPE/USDC | +0.0559% | 1h | 94.296 | +0.073% | $3.2M | $6.4M | 20x | as long as short |
gTrade (Gains Network) HYPE/USD
Derive HYPE-PERP
Bluefin HYPE-PERP
Phoenix HYPE
Bitget HYPEUSDT
Paradex HYPE-USD-PERP
edgeX HYPEUSDC
Arcus HYPE-USD
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Aster HYPEUSDT
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Gate HYPE_USDT
MEXC HYPE_USDT
KuCoin HYPEUSDTM
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
SunX HYPE-USDT
SoDEX HYPE-USD
HTX HYPE-USDT
Bulk HYPE-USD
Extended HYPE-USD
Aevo HYPE-PERP
Kalshi KXHYPEPERP
Coinbase International HYPE-PERP-INTX
Deribit HYPE_USDC-PERPETUAL
GMX HYPE/USD [WBTC.b-USDC]
Injective HYPE/USDC PERP
BloFin HYPE-USDT
Kraken Futures PF_HYPEUSD
RISEx HYPE/USDC