HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0033%/8h= −3.6% APRnext payment −$0.04 per $10,000 · paid last 24h −0.070%

Price spread now: Bulk against RISEx−0.601%7-day average +0.014% · 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−$78as in the Price arb table

costs, in and out, $10k−$160.163% of the position

Long on RISEx Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.147%−$15 on $10k

Price spread, last 4 days (all we have)+0.673%+$67 · spread now −0.601%, 7d avg +0.014%

Together, before fees+0.526%+$53 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bulk is 0.615% cheaper against RISEx than usual: you would sell low and buy high (−$61 if the spread goes back to its 7-day average of +0.014%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx HYPE/USDC	94.783	0.0133	pay 0.0017% / 1h	23m 27s	$3.2M	$6.4M	20x
Short	Bulk HYPE-USD	94.213	0.0100	get 0.0013% / 1h	23m 27s	$219K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −0.601%Rate

Funding earned: −$6.96
Price spread: −0.601% → +0.014%: −$61.47
Slippage, 4 orders: −$3.34
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$84.76
Costs to cover: 0.163%
Break-even: never at this rate

Slippage from RISEx: live order book, 5 min ago; Bulk: live order book, 10 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, 5 min ago	0.85 bp	3.8 bp −$4	5.8 bp −$58	doesn't fit	doesn't fit
Sell Bulk live order book, 10 min ago	0.53 bp	4.0 bp −$4	6.8 bp −$68	14.9 bp −$1,491	46.1 bp −$23.1K

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	−0.0816%	1h	94.533	−0.264%	$210K	$267K	7x	as long as short
Bluefin HYPE-PERP	−0.0569%	1h	94.823	+0.042%	$80K	$148K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0298%	1h	94.505	−0.293%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0249%	1h	94.811	+0.030%	$113K	$577K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0165%	1h	94.570	−0.225%	$702K	$1.3M	10x	as long as short
Phemex HYPEUSDT	−0.0125%	8h	94.561	−0.234%	$12.9M	$2.9M	50x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	94.768	−0.016%	$90K	$365K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.729	−0.057%	$1.0M	$3.3M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.664	−0.126%	$3K	$331	25x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.602	−0.191%	$18.9M	$35.5M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0020%	4h	94.816	+0.035%	$51.9M	$55.5M	75x	as long as short
Bybit HYPEUSDT	−0.0015%	8h	94.860	+0.081%	$319.9M	$293.0M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.840	+0.060%	$147K	$676K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.465	−0.335%	$130K	$92K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.608	−0.185%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.594	−0.199%	$19K	$275K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.424	−0.378%	$113K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.372	−0.434%	$209K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0010%	1h	94.160	−0.657%	$16.3M	$7.5M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.590	−0.204%	$4.7M	$5.9M	50x	as long as short
Bitget HYPEUSDT	+0.0032%	4h	94.860	+0.081%	$228.2M	$97.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0036%	1h	94.550	−0.246%	$7.6M	$10.4M	20x	as long as short
Vest HYPE-PERP	+0.0041%	1h	94.794	+0.012%	—	$190K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0041%	8h	94.773	−0.010%	$339K	$39K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0042%	8h	94.849	+0.070%	$118.2M	$328.0M	50x	as long as short
SoDEX HYPE-USD	+0.0045%	1h	94.598	−0.195%	$2.1M	$2.0M	10x	as long as short
Lighter HYPE	+0.0096%	1h	94.742	−0.043%	$16.3M	$63.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.742	−0.043%	$3.2M	$10.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.752	−0.033%	$150K	$1.2M	50x	as long as short
edgeX HYPEUSDC	+0.0097%	4h	94.374	−0.431%	$5.0M	$30.8M	30x	as long as short
Aster HYPEUSDT	+0.0099%	4h	94.807	+0.025%	$9.0M	$38.3M	300x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.720	−0.067%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.775	−0.008%	$7.3M	$51.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.881	+0.103%	$2.08B	$671.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.770	−0.014%	$10.2M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.821	+0.040%	$381.4M	$931.0M	75x	as long as short
Bulk HYPE-USDshort	+0.0100%	1h	94.213	−0.601%	$219K	$14K	10x
MEXC HYPE_USDT	+0.0100%	4h	94.834	+0.054%	$95.1M	$87.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.747	−0.038%	$47.3M	$19.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.833	+0.053%	—	$52.6M	—	as long as short
Variational Omni HYPE	+0.0100%	8h	94.267	−0.545%	$29.8M	$56.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.416	−0.387%	$7.6M	$44.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.358	−0.448%	$344K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.612	−0.180%	$691K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.834	+0.054%	$500K	$2.7M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.614	−0.178%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.708	−0.079%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.830	+0.050%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.892	+0.115%	$401K	$148K	20x	as long as short
RISEx HYPE/USDClong	+0.0133%	1h	94.783	long leg	$3.2M	$6.4M	20x
Injective HYPE/USDC PERP	+0.0153%	1h	95.170	+0.408%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0236%	1h	94.701	−0.087%	$7.5M	$4.4M	50x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	94.780	−0.003%	$83K	$106K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	94.654	−0.136%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.377	−0.428%	$17.3M	$12.4M	75x	as long as short