HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0322%/8h= −35.3% APRnext payment −$0.40 per $10,000 · paid last 24h −0.028%

Price spread now: Bullet against RISEx−0.172%48s7-day average +0.012% · 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—prices read too far apart to compare

costs, in and out, $10k−$250.251% of the position

Long on RISEx Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.106%−$11 on $10k

Price spread, last 3 days (all we have)+0.724%+$72 · spread now −0.172%, 7d avg +0.012%

Together, before fees+0.617%+$62 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Bullet is 0.184% cheaper against RISEx than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of +0.012%). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx HYPE/USDC	93.808	0.0422	pay 0.0053% / 1h	31m 27s	$2.8M	$6.7M	20x
Short	Bullet HYPE-USD	93.647	0.0100	get 0.0013% / 1h	31m 27s	$112K	$574K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now −0.172%Rate

Funding earned: −$67.68
Price spread: −0.172% → +0.012%: −$18.37
Slippage, 4 orders: −$11.05
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$111.1
Costs to cover: 0.251%
Break-even: never at this rate

Slippage from RISEx: live order book, 3 min ago; Bullet: live order book, 18 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, 3 min ago	1.71 bp	4.7 bp −$5	6.3 bp −$63	doesn't fit	doesn't fit
Sell Bullet live order book, 18 min ago	0.43 bp	10.2 bp −$10	15.7 bp −$157	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	−0.1320%	1h	93.395	−0.440%	$196K	$237K	7x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.705	−0.110%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0046%	1h	93.390	−0.446%	$22K	$22K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.723	−0.091%	$128K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.812	+0.004%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.693	−0.123%	$23K	$352K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0005%	1h	93.650	−0.169%	$44K	—	150x	as long as short
Gate HYPE_USDT	+0.0004%	4h	93.716	−0.098%	$44.3M	$56.1M	75x	as long as short
01 Exchange HYPEUSD	+0.0016%	1h	93.814	+0.006%	$89K	$327K	20x	as long as short
Aster HYPEUSDT	+0.0026%	4h	93.733	−0.080%	$9.0M	$36.6M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0056%	8h	93.760	−0.051%	$326.3M	$285.1M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0066%	1h	93.838	+0.032%	$18.6M	$24.0M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0093%	4h	93.709	−0.106%	$182K	$505K	20x	as long as short
Phoenix HYPE	+0.0094%	1h	93.461	−0.370%	$205K	$1.1M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.722	−0.092%	$18.9M	$57.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.729	−0.084%	$3.1M	$12.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.773	−0.037%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.740	−0.073%	$23K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.709	−0.105%	$5.9M	$44.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.729	−0.085%	$10.0M	$14.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.788	−0.022%	$390.7M	$877.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.775	−0.035%	$114.7M	$316.6M	50x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	93.630	−0.190%	$703K	$951K	10x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.706	−0.109%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.684	−0.132%	$205K	$9K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.697	−0.119%	$90.6M	$81.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.710	−0.105%	$46.5M	$19.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.793	−0.016%	$227.4M	$102.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.725	−0.089%	—	$54.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.750	−0.062%	$8.0M	$11.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.336	−0.503%	$28.7M	$49.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.544	−0.281%	$7.5M	$45.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.512	−0.316%	$457K	$935K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.497	−0.332%	$676K	$2.3M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.775	−0.035%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.703	−0.112%	$468K	$2.6M	20x	as long as short
Bullet HYPE-USDshort	+0.0100%	1h	93.647	−0.172%	$112K	$574K	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.716	−0.098%	$76K	$169K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.689	−0.127%	$16.4M	$6.9M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.672	−0.145%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.710	−0.105%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.677	−0.140%	$12.7M	$2.5M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0101%	8h	93.745	−0.068%	$342K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.723	−0.091%	$18.2M	$40.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.714	−0.101%	$399K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0108%	4h	93.491	−0.338%	$5.1M	$28.9M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.700	−0.115%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0243%	1h	93.644	−0.175%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0254%	1h	93.730	−0.083%	$30K	$182K	12x	as long as short
Hyperliquid HYPE	+0.0309%	1h	93.799	−0.010%	$2.04B	$660.3M	10x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.601	−0.221%	$17.3M	$12.3M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0342% / S −0.0168%	1h	93.631	−0.189%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0390%	1h	93.814	+0.006%	$7.4M	$4.6M	50x	as long as short
RISEx HYPE/USDClong	+0.0422%	1h	93.808	long leg	$2.8M	$6.7M	20x
HTX HYPE-USDT	+0.0476%	4h	93.900	+0.098%	$1.5M	$7.5M	75x	as long as short