HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0150%/8h= −16.4% APRnext payment −$0.19 per $10,000 · paid last 24h −0.007%

Price spread now: Derive against Coinbase International−0.119%7-day average −0.004% · you buy dearer than you sell

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

Long on Coinbase International Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

Price spread, last 4 days (all we have)+0.065%+$7 · spread now −0.119%, 7d avg −0.004%

Together, before fees+0.138%+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Derive is 0.115% cheaper against Coinbase International than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.004%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.073%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International HYPE-PERP-INTX	92.840	0.0160	pay 0.0020% / 1h	53m 22s	$4.7M	$5.5M	50x
Short	Derive HYPE-PERP	92.729	0.0010	get 0.0001% / 1h	53m 22s	$16.1M	$7.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.119%Rate

Funding earned: −$31.52
Price spread: −0.119% → −0.004%: −$11.48
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Derive: 3 bp × 2 orders: −$6
Net: −$59
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 6 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 Coinbase International live order book, 6 min ago	3.78 bp	8.8 bp −$9	14.0 bp −$140	39.2 bp −$3,916	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	92.680	−0.172%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0776%	1h	92.787	−0.058%	$195K	$227K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0109%	1h	92.767	−0.079%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	92.816	−0.026%	$86K	$351K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.803	−0.040%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0063%	4h	92.745	−0.102%	$158K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0057%	1h	92.785	−0.060%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0054%	1h	92.720	−0.129%	$699K	$1.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.870	+0.032%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.840	0.000%	$23K	$309K	10x	as long as short

Show 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	92.806	−0.037%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0006%	8h	92.719	−0.130%	$12.5M	$2.7M	50x	as long as short
Aster HYPEUSDT	+0.0007%	4h	92.816	−0.026%	$8.7M	$36.2M	300x	as long as short
Derive HYPE-PERPshort	+0.0010%	1h	92.729	−0.119%	$16.1M	$7.5M	10x
BingX HYPE-USDT	+0.0030%	4h	92.786	−0.058%	—	$53.1M	—	as long as short
Bybit HYPEUSDT	+0.0038%	8h	92.770	−0.075%	$318.5M	$278.9M	75x	as long as short
Phoenix HYPE	+0.0043%	1h	92.855	+0.016%	$211K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0050%	4h	92.801	−0.042%	$44.6M	$54.4M	75x	as long as short
ApeX Omni HYPEUSDT	+0.0068%	1h	92.356	−0.521%	$337K	$1.0M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0073%	8h	92.770	−0.075%	$113.4M	$301.2M	50x	as long as short
Binance HYPEUSDT	+0.0085%	4h	92.783	−0.061%	$373.2M	$891.6M	75x	as long as short
MEXC HYPE_USDT	+0.0086%	4h	92.801	−0.042%	$87.9M	$80.1M	100x	as long as short
Popdex HYPEUSDT	+0.0088%	1h	92.802	−0.041%	$68K	$1.2M	50x	as long as short
edgeX HYPEUSDC	+0.0090%	4h	92.792	−0.052%	$5.1M	$29.2M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.817	−0.025%	$339K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.755	−0.092%	$16.0M	$61.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.758	−0.088%	$3.1M	$11.6M	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.810	−0.032%	$14K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.787	−0.057%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.860	+0.022%	$2.02B	$656.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.823	−0.018%	$10.0M	$14.9M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	−0.043%	$202K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.816	−0.026%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.776	−0.069%	$224.5M	$97.5M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.798	−0.045%	$7.4M	$10.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.820	−0.022%	$28.4M	$57.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.596	−0.263%	$7.5M	$45.7M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.854	+0.015%	$666K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.840	0.000%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.832	−0.009%	$469K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.839	−0.001%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.757	−0.089%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.873	+0.036%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.734	−0.114%	$18.1M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.787	−0.058%	$392K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.172%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTXlong	+0.0160%	1h	92.840	long leg	$4.7M	$5.5M	50x
Reya HYPERUSDPERP	+0.0260%	1h	92.801	−0.042%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0263%	8h	92.857	+0.018%	$1.8M	$5.4M	2.3x	as long as short
BloFin HYPE-USDT	+0.0325%	4h	92.787	−0.057%	$16.8M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0153%	1h	92.813	−0.029%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.793	−0.051%	$20.7M	$30.3M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0450%	1h	92.865	+0.027%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.883	+0.046%	$3.2M	$6.4M	20x	as long as short
Bluefin HYPE-PERP	+0.2119%	1h	92.750	−0.097%	$79K	$169K	20x	as long as short