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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 03:00 UTC+0.0185%/8h= +20.3% APRpaid last 24h +0.033%
Price spread now: Deribit against Binance+0.165%7-day average +0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$270.275% of the position
Long on BinanceShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.015%−$2 on $10k
Price spread, last 4 days (all we have)−0.318%−$32 · spread now +0.165%, 7d avg +0.035%
Together, before fees−0.333%−$33 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Deribit is 0.130% dearer against Binance than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.035%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.015% in total (about -0.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance HYPEUSDT93.3290.0100pay 0.0050% / 4h1h 16m$378.7M$877.4M75x
ShortDeribit HYPE_USDC-PERPETUAL93.4830.0285get 0.0036% / 1h16m 14s$7.5M$4.4M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Binance. 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

Funding earned
$38.85
Price spread: +0.165% → +0.035%
$12.99
Slippage, 4 orders
−$10.5
Fee Binance: 5 bp × 2 orders
−$10
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$24.34
Costs to cover
0.275%
Break-even
2.6 days
Slippage from Binance: live order book, 13 min ago; Deribit: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Binance live order book, 13 min ago0.05 bp5.3 bp −$57.9 bp −$7915.7 bp −$1,568doesn't fit
Sell Deribit live order book, 3 min ago1.50 bp8.8 bp −$913.5 bp −$135doesn't fitdoesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1064%1h93.274−0.059%$197K$227K7xas long as short
Arcus HYPE-USD−0.0899%1h93.276−0.057%$1.2M$3.8M10xas long as short
Ondo Perps HYPE-USD.P−0.0131%1h93.270−0.063%$699K$1.0M10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.366+0.040%$3K$33125xas long as short
Aftermath Perps HYPEUSD−0.0063%1h93.378+0.053%$22K$21K10xas long as short
01 Exchange HYPEUSD−0.0056%1h93.401+0.077%$85K$343K20xas long as short
Orderly PERP_HYPE_USDC−0.0047%4h93.378+0.053%$154K$652K20xas long as short
Phemex HYPEUSDT−0.0028%8h93.397+0.073%$12.6M$2.7M50xas long as short
dYdX HYPE-USD0.0000%1h93.420+0.098%$128K$31K5xas long as short
Perpl HYPE0.0000%43m93.394+0.070%$23K$319K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.413+0.090%$63K—150xas long as short
Bullet HYPE-USD+0.0025%1h93.404+0.081%$112K$578K20xas long as short
Phoenix HYPE+0.0026%1h93.367+0.041%$213K$1.2M10xas long as short
Aster HYPEUSDT+0.0028%4h93.385+0.060%$8.8M$35.8M300xas long as short
BingX HYPE-USDT+0.0034%4h93.396+0.072%—$52.9M—as long as short
Bybit HYPEUSDT+0.0043%8h93.249−0.086%$321.1M$277.7M75xas long as short
Gate HYPE_USDT+0.0044%4h93.397+0.073%$44.6M$55.3M75xas long as short
OKX HYPE-USDT-SWAP+0.0076%8h93.258−0.076%$114.0M$300.6M50xas long as short
Derive HYPE-PERP+0.0082%1h93.373+0.047%$16.2M$7.5M10xas long as short
Lighter HYPE+0.0096%1h93.419+0.097%$16.3M$62.0M20xas long as short
Lighter RH HYPE+0.0096%1h93.418+0.096%$3.1M$11.6M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.369+0.043%$71K$1.2M50xas long as short
Paradex HYPE-USD-PERP+0.0097%8h93.421+0.099%$339K$162K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.340+0.012%$12K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.401+0.078%$5.8M$43.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.450+0.130%$2.04B$654.0M10xas long as short
Pacifica HYPE+0.0100%1h93.398+0.074%$10.0M$14.8M20xas long as short
Binance HYPEUSDTlong+0.0100%4h93.329long leg$378.7M$877.4M75x
MEXC HYPE_USDT+0.0100%4h93.279−0.053%$89.7M$81.0M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.316−0.014%$45.9M$18.2M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.391+0.067%$225.8M$96.4M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.388+0.063%$7.4M$10.3M20xas long as short
Variational Omni HYPE+0.0100%8h93.358+0.031%$31.1M$53.7M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.354+0.027%$7.5M$45.8M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.412+0.089%$339K$997K50xas long as short
StandX HYPE-USD+0.0100%1h93.347+0.019%$666K$2.7M20xas long as short
Vest HYPE-PERP+0.0100%1h93.408+0.085%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.426+0.104%$482K$2.6M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.389+0.064%$79K$168K20xas long as short
SunX HYPE-USDT+0.0100%4h93.445+0.125%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.409+0.086%$2.0M$1.9M10xas long as short
Bulk HYPE-USD+0.0100%1h93.217−0.119%$203K$10K10xas long as short
edgeX HYPEUSDC+0.0102%4h93.298−0.033%$5.0M$29.1M30xas long as short
Extended HYPE-USD+0.0104%1h93.384+0.059%$18.4M$43.7M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.406+0.083%$397K$162K20xas long as short
HTX HYPE-USDT+0.0152%4h93.518+0.203%$1.4M$6.0M75xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.420+0.098%$4.8M$5.6M50xas long as short
Reya HYPERUSDPERP+0.0259%1h93.378+0.053%$79K$140K15xas long as short
Kalshi KXHYPEPERP+0.0272%8h93.358+0.031%$1.9M$5.2M2.3xas long as short
Deribit HYPE_USDC-PERPETUALshort+0.0285%1h93.483+0.165%$7.5M$4.4M50x
GMX HYPE/USD [WBTC.b-USDC]L +0.0331% / S −0.0156%1h93.410+0.087%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.320−0.009%$17.0M$11.5M75xas long as short
RISEx HYPE/USDC+0.0510%1h93.466+0.148%$3.2M$6.3M20xas long as short
Injective HYPE/USDC PERP+0.0519%1h93.730+0.430%$30K$339K12xas long as short
Kraken Futures PF_HYPEUSD+0.0685%1h93.472+0.153%$20.8M$29.8M50xas long as short