HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0140%/8h= +15.4% APRnext payment +$0.18 per $10,000 · paid last 24h +0.042%

Price spread now: Phoenix against 01 Exchange+0.258%52s7-day average +0.054% · you sell dearer than you buy

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−$250.249% of the position

Long on 01 Exchange Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.142%+$14 on $10k

Price spread, last 4 days (all we have)−0.452%−$45 · spread now +0.258%, 7d avg +0.054%

Together, before fees−0.310%−$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phoenix is 0.204% dearer against 01 Exchange than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.054%. The two prices were read 52 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	01 Exchange HYPEUSD	93.364	−0.0072	get 0.0009% / 1h	11m 59s	$90K	$348K	20x
Short	Phoenix HYPE	93.605	0.0068	get 0.0009% / 1h	11m 59s	$216K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against 01 Exchange. 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 01 ExchangebpFee PhoenixbpOrdersPrice spread, now +0.258%Rate

Funding earned: $29.5
Price spread: +0.258% → +0.054%: $20.44
Slippage, 4 orders: −$10.93
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $25.01
Costs to cover: 0.249%
Break-even: 1.1 days

Slippage from 01 Exchange: live order book, 12 min ago; Phoenix: live order book, 1 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 01 Exchange live order book, 12 min ago	0.05 bp	6.3 bp −$6	11.1 bp −$111	doesn't fit	doesn't fit
Sell Phoenix live order book, 1 min ago	1.50 bp	6.3 bp −$6	12.8 bp −$128	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	−0.0928%	1h	93.452	+0.094%	$197K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0263%	1h	93.583	+0.234%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0234%	1h	93.410	+0.049%	$702K	$932K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.359	−0.005%	$3K	$331	25x	as long as short
01 Exchange HYPEUSDlong	−0.0072%	1h	93.364	long leg	$90K	$348K	20x
Derive HYPE-PERP	−0.0025%	1h	93.309	−0.059%	$16.4M	$7.1M	10x	as long as short
Bullet HYPE-USD	−0.0019%	1h	93.364	0.000%	$111K	$581K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.459	+0.101%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.395	+0.033%	$23K	$337K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.391	+0.029%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0015%	4h	93.332	−0.034%	$8.9M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0024%	4h	93.327	−0.040%	$43.9M	$57.6M	75x	as long as short
Bybit HYPEUSDT	+0.0033%	8h	93.330	−0.036%	$325.1M	$287.0M	75x	as long as short
Popdex HYPEUSDT	+0.0040%	1h	93.347	−0.018%	$58K	$1.2M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0057%	4h	93.357	−0.007%	$162K	$541K	20x	as long as short
Phoenix HYPEshort	+0.0068%	1h	93.605	+0.258%	$216K	$1.2M	10x
Lighter HYPE	+0.0096%	1h	93.376	+0.013%	$18.6M	$59.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.367	+0.003%	$3.1M	$12.4M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.377	+0.014%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.380	+0.017%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.345	−0.020%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.447	+0.089%	$2.04B	$670.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.376	+0.013%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.322	−0.045%	$385.3M	$889.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.325	−0.042%	$114.6M	$315.1M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.337	−0.029%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.690	+0.349%	$205K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.333	−0.033%	$93.4M	$82.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.334	−0.032%	$46.3M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.341	−0.025%	$226.8M	$102.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.334	−0.032%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.378	+0.015%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.561	+0.211%	$29.2M	$50.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.632	+0.288%	$7.5M	$45.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.558	+0.208%	$406K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.510	+0.156%	$676K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.415	+0.054%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.406	+0.045%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.346	−0.019%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.409	+0.048%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.328	−0.039%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.380	+0.017%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.316	−0.051%	$18.3M	$41.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.402	+0.041%	$397K	$318K	20x	as long as short
Kalshi KXHYPEPERP	+0.0112%	8h	93.442	+0.084%	$1.9M	$5.3M	2.3x	as long as short
edgeX HYPEUSDC	+0.0118%	4h	93.534	+0.183%	$5.1M	$29.7M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.430	+0.071%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.348	−0.017%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.400	+0.039%	$30K	$291K	12x	as long as short
HTX HYPE-USDT	+0.0296%	4h	93.550	+0.199%	$1.5M	$7.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0328%	1h	93.457	+0.100%	$7.4M	$4.6M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.405	+0.044%	$17.1M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0346% / S −0.0171%	1h	93.401	+0.039%	$1.5M	—	100x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.422	+0.062%	$2.8M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.449	+0.091%	$19.1M	$26.1M	50x	as long as short