Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%
Price spread now: Derive against Bybit+0.141%7-day average −0.004% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.044%+$4 on $10k
+Price spread, last 3 days (all we have)−0.276%−$28 · spread now +0.141%, 7d avg −0.004%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Derive is 0.145% dearer against Bybit than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of −0.004%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit HYPEUSDT | 93.210 | 0.0041 | pay 0.0041% / 8h | 2h 54m | $325.0M | $288.3M | 75x |
| Short | Derive HYPE-PERP | 93.341 | 0.0037 | get 0.0005% / 1h | 54m 50s | $16.4M | $7.1M | 10x |
Bybit HYPEUSDT
Derive HYPE-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive against Bybit. 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
- −$0.83
- Price spread: +0.141% → −0.004%
- $14.47
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$3.36
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 4 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 Bybit live order book, 4 min ago | 0.54 bp | 6.0 bp −$6 | 7.8 bp −$78 | 16.5 bp −$1,648 | 49.5 bp −$24.8K |
| 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 | −0.1328% | 1h | 93.228 | +0.019% | $197K | $235K | 7x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0154% | 1h | 93.260 | +0.054% | $699K | $951K | 10x | as long as short |
| 01 Exchange HYPEUSD | −0.0104% | 1h | 93.365 | +0.166% | $89K | $340K | 20x | as long as short |
| Aftermath Perps HYPEUSD | −0.0102% | 1h | 93.323 | +0.122% | $22K | $22K | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.294 | +0.090% | $3K | $331 | 25x | as long as short |
| Gate HYPE_USDT | −0.0002% | 4h | 93.223 | +0.014% | $44.1M | $56.1M | 75x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.341 | +0.140% | $127K | $33K | 5x | as long as short |
| Kalshi KXHYPEPERP | 0.0000% | 8h | 93.463 | +0.271% | $1.9M | $5.4M | 2.3x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.348 | +0.148% | $24K | $343K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0001% | 1h | 93.400 | +0.204% | $20K | — | 150x | as long as short |
Hibachi HYPE/USDT-P
Ondo Perps HYPE-USD.P
01 Exchange HYPEUSD
Aftermath Perps HYPEUSD
Hotstuff HYPE-PERP
Gate HYPE_USDT
dYdX HYPE-USD
Kalshi KXHYPEPERP
Perpl HYPE
gTrade (Gains Network) HYPE/USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster HYPEUSDT | +0.0002% | 4h | 93.316 | +0.113% | $8.9M | $36.3M | 300x | as long as short |
| Derive HYPE-PERPshort | +0.0037% | 1h | 93.341 | +0.141% | $16.4M | $7.1M | 10x | |
| Bybit HYPEUSDTlong | +0.0041% | 8h | 93.210 | long leg | $325.0M | $288.3M | 75x | |
| Popdex HYPEUSDT | +0.0056% | 1h | 93.354 | +0.154% | $56K | $1.2M | 50x | as long as short |
| Bullet HYPE-USD | +0.0068% | 1h | 93.366 | +0.167% | $112K | $583K | 20x | as long as short |
| Orderly PERP_HYPE_USDC | +0.0078% | 4h | 93.393 | +0.196% | $180K | $536K | 20x | as long as short |
| Phoenix HYPE | +0.0094% | 1h | 93.336 | +0.135% | $215K | $1.2M | 10x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.388 | +0.191% | $18.5M | $58.8M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.376 | +0.178% | $3.1M | $12.3M | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.370 | +0.172% | $38K | $1.7M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.279 | +0.075% | $6.0M | $44.4M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.282 | +0.077% | $2.03B | $667.9M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.324 | +0.122% | $10.0M | $14.5M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.235 | +0.027% | $385.9M | $890.9M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.213 | +0.003% | $114.6M | $315.8M | 50x | as long as short |
| Arcus HYPE-USD | +0.0100% | 1h | 93.304 | +0.101% | $1.2M | $4.0M | 10x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.386 | +0.189% | $204K | $12K | 10x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.232 | +0.024% | $92.0M | $81.5M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.307 | +0.104% | $46.2M | $19.6M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.208 | −0.002% | $226.4M | $102.1M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.212 | +0.002% | — | $54.6M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.382 | +0.185% | $7.9M | $11.7M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.285 | +0.080% | $28.8M | $49.9M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.319 | +0.116% | $7.5M | $46.8M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.338 | +0.137% | $405K | $1.1M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.361 | +0.162% | $675K | $2.4M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.391 | +0.194% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.394 | +0.197% | $494K | $2.6M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.404 | +0.208% | $76K | $169K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.334 | +0.133% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.384 | +0.187% | $2.0M | $2.0M | 10x | as long as short |
| Phemex HYPEUSDT | +0.0100% | 8h | 93.374 | +0.176% | $12.7M | $2.6M | 50x | as long as short |
| Paradex HYPE-USD-PERP | +0.0100% | 8h | 93.305 | +0.102% | $339K | $171K | 20x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.190 | −0.021% | $18.4M | $41.0M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.401 | +0.205% | $397K | $318K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0120% | 4h | 93.294 | +0.090% | $5.1M | $29.4M | 30x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0208% | 1h | 93.390 | +0.193% | $4.9M | $5.7M | 50x | as long as short |
| Reya HYPERUSDPERP | +0.0244% | 1h | 93.376 | +0.179% | $77K | $157K | 15x | as long as short |
| Injective HYPE/USDC PERP | +0.0285% | 1h | 93.210 | 0.000% | $30K | $231K | 12x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0338% / S −0.0165% | 1h | 93.400 | +0.204% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.352 | +0.152% | $17.2M | $12.5M | 75x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0403% | 1h | 93.491 | +0.301% | $7.4M | $4.6M | 50x | as long as short |
| HTX HYPE-USDT | +0.0422% | 4h | 93.533 | +0.347% | $1.5M | $7.6M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0467% | 1h | 93.389 | +0.192% | $2.7M | $6.8M | 20x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0573% | 1h | 93.492 | +0.302% | $18.8M | $24.8M | 50x | as long as short |
Aster HYPEUSDT
Popdex HYPEUSDT
Bullet HYPE-USD
Orderly PERP_HYPE_USDC
Phoenix HYPE
Lighter HYPE
Lighter RH HYPE
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Arcus HYPE-USD
Bulk HYPE-USD
MEXC HYPE_USDT
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
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
Phemex HYPEUSDT
Paradex HYPE-USD-PERP
Extended HYPE-USD
Aevo HYPE-PERP
edgeX HYPEUSDC
Coinbase International HYPE-PERP-INTX
Reya HYPERUSDPERP
Injective HYPE/USDC PERP
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
Deribit HYPE_USDC-PERPETUAL
HTX HYPE-USDT
RISEx HYPE/USDC
Kraken Futures PF_HYPEUSD