HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0566%/8h= −62.0% APRnext payment −$0.71 per $10,000 · paid last 24h −0.065%

Price spread now: 01 Exchange against RISEx−0.094%7-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−$30as in the Price arb table

costs, in and out, $10k−$190.194% of the position

Long on RISEx Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.154%−$15 on $10k

Price spread, last 4 days (all we have)+0.136%+$14 · spread now −0.094%, 7d avg +0.012%

Together, before fees−0.019%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and 01 Exchange is 0.106% cheaper against RISEx than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.012%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.154% in total (about -16.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.71 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	93.334	0.0510	pay 0.0064% / 1h	27m 36s	$3.2M	$6.3M	20x
Short	01 Exchange HYPEUSD	93.246	−0.0056	pay 0.0007% / 1h	27m 36s	$85K	$344K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.094%Rate

Funding earned: −$118.84
Price spread: −0.094% → +0.012%: −$10.6
Slippage, 4 orders: −$6.36
Fee RISEx: 3 bp × 2 orders: −$6
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$148.8
Costs to cover: 0.194%
Break-even: never at this rate

Slippage from RISEx: live order book, 1 min ago; 01 Exchange: live order book, 37 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, 1 min ago	0.75 bp	3.7 bp −$4	6.7 bp −$67	doesn't fit	doesn't fit
Sell 01 Exchange live order book, 37 min ago	0.80 bp	6.0 bp −$6	9.7 bp −$97	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	−0.1280%	1h	93.345	+0.012%	$197K	$227K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.150	−0.197%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0113%	1h	93.320	−0.015%	$699K	$996K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.305	−0.031%	$3K	$331	25x	as long as short
01 Exchange HYPEUSDshort	−0.0056%	1h	93.246	−0.094%	$85K	$344K	20x
Aftermath Perps HYPEUSD	−0.0050%	1h	93.421	+0.093%	$22K	$21K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0044%	4h	93.269	−0.070%	$153K	$652K	20x	as long as short
Phemex HYPEUSDT	−0.0044%	8h	93.291	−0.046%	$12.6M	$2.7M	50x	as long as short
Bullet HYPE-USD	−0.0007%	1h	93.305	−0.031%	$111K	$578K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.309	−0.026%	$128K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.302	−0.034%	$23K	$319K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.324	−0.011%	$62K	—	150x	as long as short
Aster HYPEUSDT	+0.0020%	4h	93.262	−0.077%	$8.8M	$35.5M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.609	+0.295%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0032%	4h	93.252	−0.088%	—	$53.0M	—	as long as short
Bybit HYPEUSDT	+0.0039%	8h	93.250	−0.090%	$320.7M	$276.9M	75x	as long as short
Gate HYPE_USDT	+0.0058%	4h	93.248	−0.092%	$44.6M	$55.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0075%	8h	93.239	−0.102%	$114.0M	$301.0M	50x	as long as short
Derive HYPE-PERP	+0.0083%	1h	93.258	−0.081%	$16.2M	$7.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.287	−0.051%	$16.2M	$61.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.276	−0.062%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.244	−0.096%	$69K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.289	−0.048%	$339K	$162K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.260	−0.079%	$17K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.299	−0.038%	$5.8M	$43.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.331	−0.003%	$2.04B	$654.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.278	−0.060%	$10.0M	$14.7M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.250	−0.090%	$378.3M	$876.5M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.364	+0.032%	$203K	$10K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.250	−0.090%	$89.7M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.281	−0.057%	$45.9M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.247	−0.093%	$225.4M	$96.5M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.278	−0.060%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.546	+0.227%	$31.2M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.614	+0.300%	$7.6M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.581	+0.265%	$340K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.415	+0.087%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.366	+0.034%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.333	−0.001%	$471K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.261	−0.078%	$79K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.345	+0.012%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.279	−0.059%	$2.0M	$1.9M	10x	as long as short
edgeX HYPEUSDC	+0.0102%	4h	93.459	+0.134%	$5.1M	$29.7M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.232	−0.110%	$18.4M	$43.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.280	−0.058%	$397K	$162K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.350	+0.017%	$4.8M	$5.5M	50x	as long as short
HTX HYPE-USDT	+0.0176%	4h	93.447	+0.121%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0258%	1h	93.299	−0.038%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0280%	8h	93.348	+0.015%	$1.9M	$5.0M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.328	−0.007%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.339	+0.005%	$16.9M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0468%	1h	93.379	+0.048%	$7.4M	$4.4M	50x	as long as short
RISEx HYPE/USDClong	+0.0510%	1h	93.334	long leg	$3.2M	$6.3M	20x
Injective HYPE/USDC PERP	+0.0519%	1h	93.280	−0.058%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.348	+0.015%	$20.7M	$29.7M	50x	as long as short