HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0145%/8h= −15.9% APRnext payment −$0.18 per $10,000 · paid last 24h −0.034%

Price spread now: dYdX against Deribit−0.055%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$780.781% of the position

Long on Deribit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.087%−$9 on $10k

Price spread, last 3 days (all we have)+0.189%+$19 · spread now −0.055%, 7d avg −0.038%

Together, before fees+0.102%+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.038%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit HYPE_USDC-PERPETUAL	93.615	0.0145	pay 0.0018% / 1h	29m 57s	$7.4M	$4.6M	50x
Short	dYdX HYPE-USD	93.563	0	get 0.0000% / 1h	29m 57s	$127K	$32K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$30.45
Price spread: −0.055% → −0.038%: −$1.75
Slippage, 4 orders: −$61.13
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$110.33
Costs to cover: 0.781%
Break-even: never at this rate

Slippage from Deribit: live order book, 4 min ago; dYdX: live order book, 59 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, 4 min ago	3.37 bp	7.0 bp −$7	14.5 bp −$145	doesn't fit	doesn't fit
Sell dYdX live order book, 59 min ago	26.01 bp	31.0 bp −$31	72.5 bp −$725	178.3 bp −$17.8K	1004.8 bp −$502.4K

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	−0.1064%	1h	93.496	−0.127%	$197K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0275%	1h	93.536	−0.084%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0242%	1h	93.480	−0.144%	$701K	$941K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.559	−0.060%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.583	−0.034%	$89K	$347K	20x	as long as short
Bullet HYPE-USD	−0.0028%	1h	93.511	−0.111%	$112K	$583K	20x	as long as short
dYdX HYPE-USDshort	0.0000%	1h	93.563	−0.055%	$127K	$32K	5x
Perpl HYPE	0.0000%	43m	93.566	−0.052%	$23K	$337K	10x	as long as short
Derive HYPE-PERP	+0.0001%	1h	93.475	−0.150%	$16.4M	$7.1M	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.551	−0.069%	$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	+0.0020%	4h	93.522	−0.100%	$8.9M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0028%	4h	93.498	−0.125%	$44.1M	$56.6M	75x	as long as short
Bybit HYPEUSDT	+0.0037%	8h	93.471	−0.154%	$325.6M	$287.2M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0068%	4h	93.527	−0.094%	$175K	$536K	20x	as long as short
Phoenix HYPE	+0.0068%	1h	93.549	−0.071%	$216K	$1.2M	10x	as long as short
Popdex HYPEUSDT	+0.0072%	1h	93.547	−0.073%	$57K	$1.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.558	−0.060%	$18.5M	$59.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.540	−0.080%	$3.1M	$12.3M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.581	−0.037%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.570	−0.048%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.546	−0.073%	$6.0M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.599	−0.017%	$2.04B	$669.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.575	−0.043%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.488	−0.135%	$385.7M	$887.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.460	−0.166%	$114.8M	$315.0M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.538	−0.082%	$1.2M	$4.0M	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.499	−0.124%	$93.5M	$82.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.521	−0.100%	$46.4M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.527	−0.094%	$227.2M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.490	−0.134%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.549	−0.071%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.541	−0.079%	$28.9M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.500	−0.123%	$7.5M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.572	−0.046%	$406K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.599	−0.017%	$677K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.600	−0.016%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.594	−0.022%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.520	−0.101%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.599	−0.017%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.505	−0.118%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.546	−0.074%	$12.7M	$2.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.556	−0.063%	$204K	$12K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.493	−0.130%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.550	−0.070%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0115%	4h	93.532	−0.089%	$5.1M	$29.6M	30x	as long as short
Kalshi KXHYPEPERP	+0.0126%	8h	93.629	+0.015%	$1.9M	$5.3M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUALlong	+0.0145%	1h	93.615	long leg	$7.4M	$4.6M	50x
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.600	−0.016%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.547	−0.073%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.490	−0.134%	$30K	$231K	12x	as long as short
HTX HYPE-USDT	+0.0333%	4h	93.724	+0.116%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0164%	1h	93.563	−0.055%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.545	−0.075%	$17.1M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.615	−0.001%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0573%	1h	93.608	−0.008%	$19.2M	$26.0M	50x	as long as short