HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0463%/8h= −50.7% APRnext payment −$0.58 per $10,000 · paid last 24h −0.066%

Price spread now: Popdex against RISEx−0.037%7-day average +0.007% · 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−$22as in the Price arb table

costs, in and out, $10k−$180.177% of the position

Long on RISEx Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.149%−$15 on $10k

Price spread, last 7 days+0.013%+$1 · spread now −0.037%, 7d avg +0.007%

Together, before fees−0.136%−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Popdex is 0.044% cheaper against RISEx than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.007%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.149% in total (about -14.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.58 per $10,000. 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	RISEx HYPE/USDC	94.275	0.0559	pay 0.0070% / 1h	16m 37s	$3.2M	$6.4M	20x
Short	Popdex HYPEUSDT	94.241	0.0096	get 0.0012% / 1h	16m 37s	$78K	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$97.24
Price spread: −0.037% → +0.007%: −$4.37
Slippage, 4 orders: −$5.32
Fee RISEx: 3 bp × 2 orders: −$6
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$119.32
Costs to cover: 0.177%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; Popdex: live order book, 3 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	1.27 bp	4.3 bp −$4	5.3 bp −$53	doesn't fit	doesn't fit
Sell Popdex live order book, 3 min ago	1.33 bp	4.6 bp −$5	6.9 bp −$69	61.3 bp −$6,127	doesn't fit

HYPE on 54 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	−0.1080%	1h	94.200	−0.080%	$200K	$237K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0187%	1h	94.206	−0.074%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.286	+0.011%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0060%	1h	94.272	−0.004%	$112K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0054%	1h	94.200	−0.080%	$709K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	94.261	−0.015%	$86K	$368K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0013%	4h	94.191	−0.090%	$146K	$685K	20x	as long as short
Bluefin HYPE-PERP	−0.0012%	1h	94.222	−0.057%	$80K	$155K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.284	+0.009%	$129K	$26K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.272	−0.004%	$19K	$290K	10x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0001%	8h	94.233	−0.045%	$317.0M	$289.4M	75x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.279	+0.004%	$84K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.307	+0.033%	$207K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0054%	4h	94.210	−0.069%	$227.1M	$99.3M	75x	as long as short
Phemex HYPEUSDT	+0.0058%	8h	94.180	−0.101%	$12.8M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0078%	8h	94.314	+0.041%	$337K	$156K	20x	as long as short
edgeX HYPEUSDC	+0.0084%	4h	94.244	−0.033%	$5.0M	$30.7M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.230	−0.048%	$1.0M	$3.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	94.270	−0.005%	$16.3M	$64.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.281	+0.006%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDTshort	+0.0096%	1h	94.241	−0.037%	$78K	$1.2M	50x
Katana Perps HYPE-USD	+0.0100%	8h	94.260	−0.016%	$17K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.267	−0.008%	$7.5M	$50.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.368	+0.098%	$2.08B	$687.3M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.277	+0.002%	$8.8M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.279	+0.004%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.268	−0.008%	$377.2M	$931.8M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.218	−0.061%	$115.9M	$318.5M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.231	−0.047%	$49.2M	$56.5M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.273	−0.003%	$90.1M	$85.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.277	+0.002%	$46.9M	$18.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.217	−0.062%	—	$53.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.269	−0.007%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.229	−0.050%	$29.0M	$56.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.298	+0.023%	$7.6M	$47.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.205	−0.075%	$362K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.276	+0.001%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.350	+0.079%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.278	+0.003%	$498K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.271	−0.005%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.237	−0.041%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.384	+0.115%	$1.4M	$6.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.275	0.000%	$218K	$15K	10x	as long as short
Kalshi KXHYPEPERP	+0.0100%	8h	94.291	+0.017%	$1.8M	$5.6M	2.3x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.202	−0.077%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.247	−0.031%	$398K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.260	−0.016%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.310	+0.036%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0196%	1h	94.304	+0.030%	$7.5M	$4.3M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.610	+0.355%	$31K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.246	−0.031%	$77K	$129K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.245	−0.032%	$16.9M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0413%	1h	94.275	−0.001%	$20.2M	$30.4M	50x	as long as short
RISEx HYPE/USDClong	+0.0559%	1h	94.275	long leg	$3.2M	$6.4M	20x