HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0216%/8h= −23.7% APRnext payment −$0.27 per $10,000 · paid last 24h −0.010%

Price spread now: Aevo against Deribit−0.110%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on Deribit Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.059%+$6 on $10k

Price spread, last 3 days (all we have)+0.073%+$7 · spread now −0.110%, 7d avg −0.038%

Together, before fees+0.131%+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Aevo is 0.072% cheaper against Deribit than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.038%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.059%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.059% in total (about 3.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.27 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit HYPE_USDC-PERPETUAL	93.026	0.0320	pay 0.0040% / 1h	52m 29s	$7.4M	$4.6M	50x
Short	Aevo HYPE-PERP	92.924	0.0104	get 0.0013% / 1h	52m 29s	$395K	$318K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Deribit. 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 DeribitbpFee AevobpOrdersPrice spread, now −0.110%Rate

Funding earned: −$45.36
Price spread: −0.110% → −0.038%: −$7.21
Slippage, 4 orders: −$21.3
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$96.87
Costs to cover: 0.443%
Break-even: never at this rate

Slippage from Deribit: live order book, 2 min ago; Aevo: live order book, 32 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 Deribit live order book, 2 min ago	1.72 bp	5.9 bp −$6	12.0 bp −$120	doesn't fit	doesn't fit
Sell Aevo live order book, 32 min ago	4.37 bp	13.2 bp −$13	17.1 bp −$171	22.6 bp −$2,259	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	+0.156%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0131%	1h	92.960	−0.071%	$1.2M	$4.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.988	−0.041%	$3K	$331	25x	as long as short
Hibachi HYPE/USDT-P	−0.0040%	1h	93.170	+0.154%	$197K	$231K	7x	as long as short
Derive HYPE-PERP	−0.0017%	1h	92.906	−0.129%	$16.3M	$7.1M	10x	as long as short
Aster HYPEUSDT	0.0000%	4h	92.997	−0.031%	$8.9M	$35.9M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.009	−0.019%	$127K	$32K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	93.009	−0.018%	$90K	$362K	20x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.026	0.000%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.052	+0.028%	$23K	$331K	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 −0.0001%	1h	93.051	+0.027%	$20K	—	150x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	93.000	−0.028%	$323.5M	$286.9M	75x	as long as short
Popdex HYPEUSDT	+0.0032%	1h	92.997	−0.031%	$56K	$1.2M	50x	as long as short
Phoenix HYPE	+0.0034%	1h	93.222	+0.211%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0043%	4h	93.008	−0.019%	$165K	$515K	20x	as long as short
Gate HYPE_USDT	+0.0052%	4h	93.012	−0.015%	$43.9M	$56.8M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0067%	1h	92.840	−0.200%	$699K	$925K	10x	as long as short
Bullet HYPE-USD	+0.0090%	1h	93.006	−0.022%	$112K	$579K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.040	+0.015%	$18.5M	$58.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.015	−0.012%	$3.0M	$12.0M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.018	−0.009%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.980	−0.049%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.943	−0.089%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.999	−0.029%	$2.02B	$669.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.036	+0.010%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.991	−0.038%	$383.4M	$892.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.990	−0.039%	$114.1M	$314.0M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.271	+0.264%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.011	−0.016%	$90.9M	$81.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.960	−0.071%	$47.0M	$19.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.010	−0.017%	$225.4M	$102.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.992	−0.037%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.903	−0.132%	$7.8M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.107	+0.087%	$29.0M	$50.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.245	+0.235%	$7.5M	$44.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.221	+0.210%	$412K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.100	+0.080%	$673K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.047	+0.023%	$491K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.985	−0.044%	$75K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.053	+0.029%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.928	−0.105%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	92.920	−0.114%	$12.7M	$2.6M	50x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.029	+0.004%	—	$454K	5x	as long as short
edgeX HYPEUSDC	+0.0103%	4h	93.179	+0.164%	$5.1M	$29.4M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.965	−0.066%	$18.3M	$42.2M	50x	as long as short
Aevo HYPE-PERPshort	+0.0104%	1h	92.924	−0.110%	$395K	$318K	20x
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	92.980	−0.049%	$4.9M	$5.6M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	92.990	−0.039%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.003	−0.025%	$77K	$158K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.055	+0.031%	$2.7M	$6.8M	20x	as long as short
HTX HYPE-USDT	+0.0297%	4h	93.200	+0.187%	$1.5M	$7.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUALlong	+0.0320%	1h	93.026	long leg	$7.4M	$4.6M	50x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0158%	1h	93.034	+0.009%	$1.5M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.007	−0.020%	$17.0M	$12.4M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0467%	1h	93.036	+0.011%	$20.7M	$28.4M	50x	as long as short