Settings8H · net · $10k
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Funding arb · Price arb /

HYPE

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0254%/8h= +27.8% APRpaid last 24h +0.022%
Price spread now: Deribit against Bybit+0.101%7-day average +0.068% · you sell dearer than you buy
Net, funding: paid 7d − costs−$25as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$270.269% of the position
Long on BybitShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.017%+$2 on $10k
Price spread, last 3 days (all we have)−0.088%−$9 · spread now +0.101%, 7d avg +0.068%
Together, before fees−0.071%−$7 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Deribit is 0.034% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.068%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.017% in total (about 0.9% 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
LongBybit HYPEUSDT93.9000.0018pay 0.0018% / 8h56m 46s$324.8M$280.7M75x
ShortDeribit HYPE_USDC-PERPETUAL93.9950.0272get 0.0034% / 1h56m 46s$7.4M$4.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Bybit. 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
$53.24
Price spread: +0.101% → +0.068%
$3.36
Slippage, 4 orders
−$8.87
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$29.72
Costs to cover
0.269%
Break-even
3.1 days
Slippage from Bybit: live order book, 2 min ago; Deribit: live order book, 2 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 Bybit live order book, 2 min ago0.53 bp6.1 bp −$68.9 bp −$8917.8 bp −$1,78060.6 bp −$30.3K
Sell Deribit live order book, 2 min ago1.65 bp9.2 bp −$912.5 bp −$125doesn'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−0.0504%1h93.735−0.176%$198K$228K7xas long as short
Aftermath Perps HYPEUSD−0.0486%1h93.638−0.279%$22K$22K10xas long as short
Arcus HYPE-USD−0.0233%1h93.768−0.141%$1.2M$3.8M10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.840−0.064%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0002%1h93.800−0.106%$701K$903K10xas long as short
dYdX HYPE-USD0.0000%1h93.912+0.013%$128K$32K5xas long as short
Perpl HYPE0.0000%43m93.882−0.019%$23K$330K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.922+0.023%$28K—150xas long as short
Orderly PERP_HYPE_USDC+0.0014%4h93.908+0.009%$176K$526K20xas long as short
Bybit HYPEUSDTlong+0.0018%8h93.900long leg$324.8M$280.7M75x
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0024%4h93.936+0.038%$8.9M$35.8M300xas long as short
Phoenix HYPE+0.0034%1h93.805−0.101%$215K$1.2M10xas long as short
Derive HYPE-PERP+0.0063%1h93.839−0.065%$16.4M$6.9M10xas long as short
Gate HYPE_USDT+0.0064%4h93.911+0.012%$44.5M$57.9M75xas long as short
MEXC HYPE_USDT+0.0066%4h93.933+0.035%$90.8M$80.3M100xas long as short
Binance HYPEUSDT+0.0070%4h93.928+0.030%$385.6M$886.0M75xas long as short
Phemex HYPEUSDT+0.0074%8h93.842−0.062%$12.8M$2.6M50xas long as short
edgeX HYPEUSDC+0.0078%4h93.744−0.166%$5.1M$29.6M30xas long as short
Lighter HYPE+0.0096%1h93.966+0.070%$19.0M$58.9M20xas long as short
Lighter RH HYPE+0.0096%1h93.954+0.058%$3.1M$12.2M20xas long as short
01 Exchange HYPEUSD+0.0096%1h93.9000.000%$91K$355K20xas long as short
Popdex HYPEUSDT+0.0096%1h93.847−0.056%$63K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.852−0.051%$399K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.845−0.059%$341K$169K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.830−0.075%$29K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.844−0.059%$5.9M$44.1M10xas long as short
Pacifica HYPE+0.0100%1h93.953+0.056%$10.1M$14.5M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.9000.000%$115.0M$314.5M50xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.919+0.020%$47.2M$18.3M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.918+0.019%$227.6M$102.5M75xas long as short
BingX HYPE-USDT+0.0100%4h93.912+0.013%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.926+0.028%$7.9M$10.4M20xas long as short
Variational Omni HYPE+0.0100%8h93.552−0.370%$30.9M$51.8M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.616−0.302%$7.5M$45.5M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.759−0.150%$393K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.783−0.125%$678K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.874−0.028%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.911+0.012%$484K$2.5M20xas long as short
Bullet HYPE-USD+0.0100%1h93.888−0.013%$113K$577K20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.903+0.003%$76K$166K20xas long as short
SunX HYPE-USDT+0.0100%4h93.979+0.084%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.904+0.004%$2.0M$2.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.680−0.234%$205K$7K10xas long as short
Injective HYPE/USDC PERP+0.0104%1h93.750−0.160%$30K$338K12xas long as short
Extended HYPE-USD+0.0104%1h93.896−0.004%$18.6M$42.0M50xas long as short
Kalshi KXHYPEPERP+0.0120%8h93.972+0.077%$1.9M$5.1M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h93.870−0.032%$4.9M$5.7M50xas long as short
HTX HYPE-USDT+0.0221%4h94.082+0.194%$1.5M$7.7M75xas long as short
Reya HYPERUSDPERP+0.0248%1h93.885−0.016%$77K$142K15xas long as short
BloFin HYPE-USDT+0.0266%4h93.898−0.002%$17.0M$12.3M75xas long as short
Deribit HYPE_USDC-PERPETUALshort+0.0272%1h93.995+0.101%$7.4M$4.5M50x
RISEx HYPE/USDC+0.0284%1h93.894−0.007%$2.7M$6.8M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0340% / S −0.0165%1h93.877−0.025%$1.4M—100xas long as short
Kraken Futures PF_HYPEUSD+0.0577%1h94.020+0.128%$21.0M$29.0M50xas long as short
Hyperliquid HYPE+0.0577%1h93.962+0.066%$2.05B$667.6M10xas long as short