HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0072%/8h= +7.9% APRnext payment +$0.09 per $10,000 · paid last 24h −0.004%

Price spread now: Derive against Bullet−0.011%54s7-day average −0.039% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bullet Short on Derive

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.015%−$2 on $10k

Price spread, last 4 days (all we have)−0.088%−$9 · spread now −0.011%, 7d avg −0.039%

Together, before fees−0.103%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Derive is 0.028% dearer against Bullet than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.039%. The two prices were read 54 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	Bullet HYPE-USD	92.834	0.0028	pay 0.0003% / 1h	3m 27s	$111K	$579K	20x
Short	Derive HYPE-PERP	92.824	0.0100	get 0.0013% / 1h	3m 27s	$16.1M	$7.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Bullet. 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 BulletbpFee DerivebpOrdersPrice spread, now −0.011%Rate

Funding earned: $15.16
Price spread: −0.011% → −0.039%: $2.81
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Derive: 3 bp × 2 orders: −$6
Net: $3.96
Costs to cover: 0.140%
Break-even: 5.2 days

Slippage unknown: Bullet: live order book, 56 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 Bullet live order book, 56 min ago	0.54 bp	7.8 bp −$8	12.0 bp −$120	doesn't fit	doesn't fit
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
Arcus HYPE-USD	−0.0948%	1h	92.818	−0.017%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0368%	1h	92.692	−0.153%	$194K	$227K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0267%	1h	92.799	−0.037%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.865	+0.033%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0065%	4h	92.837	+0.003%	$157K	$654K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.865	+0.033%	$127K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	92.876	+0.045%	$87K	$361K	20x	as long as short
Perpl HYPE	0.0000%	43m	92.879	+0.048%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.890	+0.060%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0027%	8h	92.851	+0.018%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USDlong	+0.0028%	1h	92.834	long leg	$111K	$579K	20x
BingX HYPE-USDT	+0.0036%	4h	92.862	+0.030%	—	$53.5M	—	as long as short
Ondo Perps HYPE-USD.P	+0.0037%	1h	92.800	−0.037%	$697K	$1.1M	10x	as long as short
Phoenix HYPE	+0.0043%	1h	92.755	−0.085%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0045%	8h	92.860	+0.028%	$316.9M	$281.1M	75x	as long as short
Aster HYPEUSDT	+0.0063%	4h	92.863	+0.031%	$8.7M	$36.1M	300x	as long as short
Bitget HYPEUSDT	+0.0090%	4h	92.853	+0.020%	$224.7M	$98.6M	75x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	92.749	−0.092%	$4.9M	$29.6M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	92.886	+0.056%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.870	+0.038%	$16.1M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.877	+0.046%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.860	+0.028%	$69K	$1.1M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0097%	8h	92.867	+0.036%	$113.9M	$303.9M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.860	+0.028%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.859	+0.027%	$7.5M	$45.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.898	+0.069%	$2.02B	$663.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.886	+0.056%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.875	+0.044%	$373.1M	$901.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	−0.037%	$202K	$13K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	92.859	+0.027%	$44.5M	$55.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.869	+0.038%	$88.3M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.876	+0.045%	$46.1M	$18.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.864	+0.032%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.689	−0.156%	$28.5M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.776	−0.063%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.773	−0.066%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.827	−0.008%	$667K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.888	+0.058%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.896	+0.067%	$468K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.850	+0.017%	$79K	$168K	20x	as long as short
Derive HYPE-PERPshort	+0.0100%	1h	92.824	−0.011%	$16.1M	$7.5M	10x
SunX HYPE-USDT	+0.0100%	4h	92.779	−0.059%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.859	+0.027%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.950	+0.125%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.826	−0.009%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.857	+0.025%	$393K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.179%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.900	+0.071%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0227%	8h	92.832	−0.002%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.860	+0.028%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.859	+0.027%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.913	+0.085%	$20.6M	$30.4M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.780	−0.058%	$16.8M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0385%	1h	92.954	+0.129%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.920	+0.092%	$3.2M	$6.4M	20x	as long as short