HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0144%/8h= +15.8% APRnext payment +$0.18 per $10,000 · paid last 24h +0.032%

Price spread now: Deribit against Coinbase International+0.049%7-day average +0.073% · 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−$33as in the Price arb table

costs, in and out, $10k−$310.307% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 3 days (all we have)−0.018%−$2 · spread now +0.049%, 7d avg +0.073%

Together, before fees+0.035%+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.024% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.049% now, against its 7-day average of +0.073%). If the spread goes back, that is −$2 on $10k: about 13 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.053% in total) that is about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International HYPE-PERP-INTX	92.980	0.0176	pay 0.0022% / 1h	53m 10s	$4.9M	$5.6M	50x
Short	Deribit HYPE_USDC-PERPETUAL	93.026	0.0320	get 0.0040% / 1h	53m 10s	$7.4M	$4.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Coinbase International. 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 Coinbase InternationalbpFee DeribitbpOrdersPrice spread, now +0.049%Rate

Funding earned: $30.24
Price spread: +0.049% → +0.073%: −$2.36
Slippage, 4 orders: −$13.66
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$2.78
Costs to cover: 0.307%
Break-even: 7.6 days

Slippage from Coinbase International: live order book, 1 min ago; Deribit: live order book, 1 min ago.

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 Coinbase International live order book, 1 min ago	0.54 bp	8.3 bp −$8	14.4 bp −$144	42.6 bp −$4,260	doesn't fit
Sell Deribit live order book, 1 min ago	1.72 bp	8.2 bp −$8	13.0 bp −$130	doesn't fit	doesn't fit

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
Aftermath Perps HYPEUSD	−0.0295%	1h	93.171	+0.205%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0131%	1h	92.986	+0.006%	$1.2M	$4.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.204	+0.241%	$3K	$331	25x	as long as short
Hibachi HYPE/USDT-P	−0.0040%	1h	93.170	+0.204%	$197K	$231K	7x	as long as short
Derive HYPE-PERP	−0.0017%	1h	92.906	−0.080%	$16.3M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.117	+0.147%	$127K	$32K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	93.050	+0.075%	$90K	$361K	20x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.026	+0.049%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.052	+0.077%	$23K	$331K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.051	+0.076%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0007%	4h	93.036	+0.061%	$8.9M	$35.9M	300x	as long as short
Ondo Perps HYPE-USD.P	+0.0020%	1h	93.160	+0.194%	$699K	$928K	10x	as long as short
Bybit HYPEUSDT	+0.0030%	8h	92.874	−0.114%	$323.3M	$286.8M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.222	+0.260%	$216K	$1.2M	10x	as long as short
Popdex HYPEUSDT	+0.0040%	1h	93.028	+0.052%	$56K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0042%	4h	92.905	−0.081%	$43.9M	$56.8M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0043%	4h	93.008	+0.030%	$165K	$515K	20x	as long as short
Bullet HYPE-USD	+0.0090%	1h	93.006	+0.028%	$112K	$579K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.969	−0.012%	$18.5M	$58.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.937	−0.046%	$3.0M	$12.0M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.069	+0.096%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.060	+0.086%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.061	+0.088%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.959	−0.023%	$2.02B	$669.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.078	+0.105%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.903	−0.083%	$383.0M	$891.8M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.861	−0.128%	$114.1M	$313.8M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.271	+0.313%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.923	−0.061%	$91.0M	$81.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.930	−0.054%	$46.9M	$19.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.881	−0.106%	$225.2M	$103.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.876	−0.112%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.903	−0.083%	$7.8M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.107	+0.137%	$29.0M	$50.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.245	+0.285%	$7.5M	$44.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.221	+0.259%	$412K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.257	+0.298%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.084	+0.112%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.047	+0.072%	$491K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.985	+0.005%	$75K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.053	+0.079%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.928	−0.056%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	92.920	−0.065%	$12.7M	$2.6M	50x	as long as short
edgeX HYPEUSDC	+0.0103%	4h	93.179	+0.214%	$5.1M	$29.4M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.908	−0.078%	$18.3M	$41.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.924	−0.061%	$395K	$318K	20x	as long as short
Coinbase International HYPE-PERP-INTXlong	+0.0176%	1h	92.980	long leg	$4.9M	$5.6M	50x
Injective HYPE/USDC PERP	+0.0239%	1h	92.990	+0.011%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.003	+0.024%	$77K	$158K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.087	+0.115%	$2.7M	$6.8M	20x	as long as short
HTX HYPE-USDT	+0.0297%	4h	93.200	+0.237%	$1.5M	$7.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUALshort	+0.0320%	1h	93.026	+0.049%	$7.4M	$4.6M	50x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0158%	1h	93.034	+0.058%	$1.5M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.007	+0.029%	$17.0M	$12.4M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0467%	1h	93.036	+0.060%	$20.7M	$28.4M	50x	as long as short