HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0498%/8h= −54.5% APRnext payment −$0.62 per $10,000 · paid last 24h −0.034%

Price spread now: Bluefin against RISEx−0.089%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$420.424% of the position

Long on RISEx Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.181%−$18 on $10k

Price spread, last 4 days (all we have)+0.004%$0 · spread now −0.089%, 7d avg −0.025%

Together, before fees−0.177%−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Bluefin is 0.064% cheaper against RISEx than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx HYPE/USDC	93.319	0.0598	pay 0.0075% / 1h	7m 23s	$3.2M	$6.2M	20x
Short	Bluefin HYPE-PERP	93.236	0.0100	get 0.0013% / 1h	7m 23s	$79K	$167K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against RISEx. 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 RISExbpFee BluefinbpOrdersPrice spread, now −0.089%Rate

Funding earned: −$104.52
Price spread: −0.089% → −0.025%: −$6.36
Slippage, 4 orders: −$29.4
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$153.28
Costs to cover: 0.424%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; Bluefin: live order book, 47 min ago.

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 RISEx live order book, 2 min ago	0.64 bp	6.1 bp −$6	7.7 bp −$77	doesn't fit	doesn't fit
Sell Bluefin live order book, 47 min ago	5.54 bp	16.1 bp −$16	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	−0.1840%	1h	93.067	−0.269%	$194K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0321%	1h	93.108	−0.226%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	93.227	−0.098%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.241	−0.083%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0050%	4h	93.179	−0.150%	$146K	$670K	20x	as long as short
Bullet HYPE-USD	−0.0007%	1h	93.186	−0.143%	$111K	$578K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.247	−0.077%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.250	−0.073%	$22K	$293K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.237	−0.088%	$62K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0003%	1h	93.050	−0.288%	$700K	$1.1M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange HYPEUSD	+0.0016%	1h	93.283	−0.038%	$87K	$365K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	93.132	−0.200%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0030%	8h	93.231	−0.094%	$317.7M	$284.4M	75x	as long as short
Bitget HYPEUSDT	+0.0032%	4h	93.215	−0.111%	$225.5M	$98.8M	75x	as long as short
Phemex HYPEUSDT	+0.0032%	8h	93.177	−0.152%	$12.6M	$2.7M	50x	as long as short
Popdex HYPEUSDT	+0.0056%	1h	93.257	−0.066%	$76K	$1.1M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.063	−0.274%	$4.9M	$29.8M	30x	as long as short
Gate HYPE_USDT	+0.0086%	4h	93.248	−0.076%	$45.7M	$55.0M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.285	−0.036%	$339K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.256	−0.067%	$16.1M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.263	−0.060%	$3.1M	$11.7M	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.230	−0.095%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.250	−0.073%	$6.9M	$46.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.267	−0.056%	$2.03B	$664.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.230	−0.095%	$8.7M	$36.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.279	−0.043%	$10.1M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.235	−0.090%	$374.1M	$909.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.250	−0.074%	$114.4M	$305.9M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.125	−0.208%	$203K	$3K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.235	−0.090%	$91.8M	$81.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.239	−0.086%	$46.2M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.208	−0.119%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.275	−0.047%	$7.3M	$11.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.028	−0.312%	$28.6M	$56.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.054	−0.284%	$7.5M	$46.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.080	−0.256%	$341K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.136	−0.196%	$666K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.279	−0.043%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.271	−0.051%	$489K	$2.7M	20x	as long as short
Bluefin HYPE-PERPshort	+0.0100%	1h	93.236	−0.089%	$79K	$167K	20x
Derive HYPE-PERP	+0.0100%	1h	93.207	−0.120%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.257	−0.066%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.217	−0.109%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.300	−0.020%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.223	−0.103%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.238	−0.086%	$394K	$164K	20x	as long as short
Kalshi KXHYPEPERP	+0.0121%	8h	93.319	0.000%	$1.8M	$5.5M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.230	−0.095%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0196%	1h	93.294	−0.026%	$20.8M	$29.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.020	−0.320%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0267%	1h	93.211	−0.115%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.231	−0.094%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.029	−0.311%	$16.8M	$11.8M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0522%	1h	93.313	−0.006%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDClong	+0.0598%	1h	93.319	long leg	$3.2M	$6.2M	20x