Funding you earn now, next payment 03:00 UTC−0.0018%/8h= −1.9% APRnext payment −$0.02 per $10,000 · paid last 24h −0.016%
Price spread now: Derive against Bulk+0.067%7-day average −0.074% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.030%−$3 on $10k
+Price spread, last 4 days (all we have)−0.442%−$44 · spread now +0.067%, 7d avg −0.074%
=The price spread pays, funding is against you. Derive is 0.141% dearer against Bulk than usual: you sell high and buy low (spread +0.067% now, against its 7-day average of −0.074%): +$14 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 27 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bulk HYPE-USD | 93.217 | 0.0100 | pay 0.0013% / 1h | 18m 16s | $203K | $10K | 10x |
| Short | Derive HYPE-PERP | 93.280 | 0.0082 | get 0.0010% / 1h | 18m 16s | $16.2M | $7.5M | 10x |
Bulk HYPE-USD
Derive HYPE-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive against Bulk. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$3.71
- Price spread: +0.067% → −0.074%
- $14.11
- Slippage, 4 orders
- no order book: not counted
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$2.6
- Costs to cover
- 0.130%
- Break-even
- from the start
Slippage unknown: Bulk: live order book, 46 min ago; Derive: no order-book sample. Net counts fees only.
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 Bulk live order book, 46 min ago | 0.54 bp | 4.0 bp −$4 | 4.8 bp −$48 | 9.8 bp −$983 | 21.5 bp −$10.8K |
| Sell Derive no order-book sample | — | — | — | — | — |
Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.1088% | 1h | 93.263 | +0.049% | $197K | $227K | 7x | as long as short |
| Arcus HYPE-USD | −0.0899% | 1h | 93.206 | −0.012% | $1.2M | $3.8M | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0130% | 1h | 93.270 | +0.056% | $699K | $1.0M | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.331 | +0.122% | $3K | $331 | 25x | as long as short |
| Aftermath Perps HYPEUSD | −0.0064% | 1h | 93.369 | +0.163% | $22K | $21K | 10x | as long as short |
| 01 Exchange HYPEUSD | −0.0056% | 1h | 93.338 | +0.129% | $85K | $343K | 20x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0047% | 4h | 93.285 | +0.073% | $154K | $652K | 20x | as long as short |
| Phemex HYPEUSDT | −0.0029% | 8h | 93.326 | +0.117% | $12.6M | $2.7M | 50x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.320 | +0.110% | $128K | $31K | 5x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.330 | +0.121% | $23K | $319K | 10x | as long as short |
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Ondo Perps HYPE-USD.P
Hotstuff HYPE-PERP
Aftermath Perps HYPEUSD
01 Exchange HYPEUSD
Orderly PERP_HYPE_USDC
Phemex HYPEUSDT
dYdX HYPE-USD
Perpl HYPEShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0002% | 1h | 93.320 | +0.110% | $63K | — | 150x | as long as short |
| Bullet HYPE-USD | +0.0009% | 1h | 93.328 | +0.118% | $111K | $578K | 20x | as long as short |
| Aster HYPEUSDT | +0.0025% | 4h | 93.310 | +0.099% | $8.8M | $35.6M | 300x | as long as short |
| Phoenix HYPE | +0.0026% | 1h | 93.480 | +0.282% | $213K | $1.2M | 10x | as long as short |
| BingX HYPE-USDT | +0.0034% | 4h | 93.296 | +0.084% | — | $52.9M | — | as long as short |
| Bybit HYPEUSDT | +0.0043% | 8h | 93.290 | +0.078% | $321.2M | $277.2M | 75x | as long as short |
| Gate HYPE_USDT | +0.0048% | 4h | 93.311 | +0.100% | $44.6M | $55.3M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0076% | 8h | 93.296 | +0.084% | $113.9M | $300.5M | 50x | as long as short |
| Derive HYPE-PERPshort | +0.0082% | 1h | 93.280 | +0.067% | $16.2M | $7.5M | 10x | |
| Lighter HYPE | +0.0096% | 1h | 93.341 | +0.133% | $16.2M | $62.0M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.330 | +0.121% | $3.1M | $11.6M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.308 | +0.097% | $70K | $1.2M | 50x | as long as short |
| Paradex HYPE-USD-PERP | +0.0097% | 8h | 93.352 | +0.144% | $339K | $162K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.330 | +0.121% | $12K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.305 | +0.094% | $5.8M | $43.1M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.410 | +0.207% | $2.04B | $653.7M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.350 | +0.142% | $10.0M | $14.8M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.307 | +0.096% | $378.6M | $876.5M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.308 | +0.097% | $89.3M | $80.9M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.330 | +0.121% | $45.9M | $18.2M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.305 | +0.094% | $225.6M | $96.4M | 75x | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.322 | +0.112% | $7.4M | $10.3M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.358 | +0.151% | $31.1M | $53.7M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.441 | +0.240% | $7.6M | $45.8M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.412 | +0.209% | $339K | $997K | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.363 | +0.156% | $666K | $2.7M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.369 | +0.162% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.359 | +0.152% | $475K | $2.6M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.281 | +0.068% | $79K | $168K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.339 | +0.130% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.304 | +0.093% | $2.0M | $1.9M | 10x | as long as short |
| Bulk HYPE-USDlong | +0.0100% | 1h | 93.217 | long leg | $203K | $10K | 10x | |
| Extended HYPE-USD | +0.0104% | 1h | 93.275 | +0.062% | $18.4M | $43.6M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.297 | +0.085% | $397K | $162K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0110% | 4h | 93.367 | +0.161% | $5.1M | $29.1M | 30x | as long as short |
| HTX HYPE-USDT | +0.0159% | 4h | 93.450 | +0.250% | $1.4M | $6.0M | 75x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0176% | 1h | 93.350 | +0.142% | $4.8M | $5.6M | 50x | as long as short |
| Reya HYPERUSDPERP | +0.0259% | 1h | 93.301 | +0.090% | $79K | $140K | 15x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0264% | 1h | 93.392 | +0.187% | $7.4M | $4.4M | 50x | as long as short |
| Kalshi KXHYPEPERP | +0.0273% | 8h | 93.356 | +0.149% | $1.9M | $5.1M | 2.3x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0331% / S −0.0156% | 1h | 93.331 | +0.121% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.353 | +0.146% | $16.9M | $11.6M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0510% | 1h | 93.397 | +0.192% | $3.2M | $6.3M | 20x | as long as short |
| Injective HYPE/USDC PERP | +0.0519% | 1h | 93.730 | +0.550% | $30K | $339K | 12x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0685% | 1h | 93.390 | +0.185% | $20.7M | $29.8M | 50x | as long as short |
gTrade (Gains Network) HYPE/USD
Bullet HYPE-USD
Aster HYPEUSDT
Phoenix HYPE
BingX HYPE-USDT
Bybit HYPEUSDT
Gate HYPE_USDT
OKX HYPE-USDT-SWAP
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Binance HYPEUSDT
MEXC HYPE_USDT
KuCoin HYPEUSDTM
Bitget HYPEUSDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Extended HYPE-USD
Aevo HYPE-PERP
edgeX HYPEUSDC
HTX HYPE-USDT
Coinbase International HYPE-PERP-INTX
Reya HYPERUSDPERP
Deribit HYPE_USDC-PERPETUAL
Kalshi KXHYPEPERP
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
RISEx HYPE/USDC
Injective HYPE/USDC PERP
Kraken Futures PF_HYPEUSD