HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0406%/8h= −44.5% APRnext payment −$0.51 per $10,000 · paid last 24h −0.042%

Price spread now: gTrade (Gains Network) against Deribit−0.101%53s7-day average — · you buy dearer than you sell

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

Long on Deribit Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and gTrade (Gains Network) is 0.101% cheaper against Deribit than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit HYPE_USDC-PERPETUAL	94.166	0.0409	pay 0.0051% / 1h	0m 25s	$7.5M	$4.6M	50x
Short	gTrade (Gains Network) HYPE/USD	94.071	L +0.0002% / S −0.0003%	get 0.0000% / 1h	0m 25s	$27K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.101%Rate

Funding earned: −$85.32
Price spread: −0.101% → 0.000%: −$10.09
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$112.41
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 4 min ago; gTrade (Gains Network): 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 Deribit live order book, 4 min ago	1.49 bp	7.5 bp −$8	10.0 bp −$100	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−0.1408%	1h	93.957	−0.222%	$199K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0338%	1h	93.984	−0.194%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.890	−0.293%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0135%	1h	93.930	−0.251%	$705K	$924K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.037	−0.137%	$86K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.044	−0.130%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0011%	1h	93.993	−0.184%	$16.4M	$7.2M	10x	as long as short
dYdX HYPE-USD	−0.0009%	1h	94.052	−0.121%	$128K	$30K	5x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	94.043	−0.131%	$169K	$594K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.049	−0.125%	$23K	$329K	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/USDshort	L +0.0002% / S −0.0003%	1h	94.071	−0.101%	$27K	—	150x
Phoenix HYPE	+0.0009%	1h	93.898	−0.285%	$217K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0017%	8h	94.026	−0.149%	$323.6M	$284.0M	75x	as long as short
Aster HYPEUSDT	+0.0018%	4h	94.051	−0.122%	$8.9M	$36.1M	300x	as long as short
Phemex HYPEUSDT	+0.0026%	8h	94.000	−0.176%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0044%	4h	94.035	−0.139%	$88.5M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0046%	4h	94.042	−0.132%	$384.4M	$898.7M	75x	as long as short
edgeX HYPEUSDC	+0.0057%	4h	94.017	−0.159%	$5.1M	$29.7M	30x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	94.028	−0.147%	$60K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0068%	4h	94.039	−0.135%	$44.2M	$60.1M	75x	as long as short
Bullet HYPE-USD	+0.0077%	1h	94.041	−0.133%	$113K	$578K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0087%	8h	94.030	−0.144%	$116.0M	$323.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.096	−0.074%	$18.9M	$60.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.070	−0.102%	$3.1M	$12.4M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.068	−0.104%	$400K	$318K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	94.040	−0.134%	$42K	$1.6M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.088	−0.082%	$342K	$171K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.031	−0.144%	$6.7M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.141	−0.027%	$2.05B	$680.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.066	−0.106%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.889	−0.294%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.040	−0.134%	$46.6M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.048	−0.125%	$227.8M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.037	−0.137%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.082	−0.089%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.972	−0.206%	$31.4M	$54.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.864	−0.321%	$7.6M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.055	−0.118%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.964	−0.215%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.072	−0.100%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.062	−0.110%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.071	−0.101%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.060	−0.113%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.059	−0.114%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.259%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.019	−0.156%	$18.4M	$42.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.070	−0.102%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0159%	8h	94.096	−0.074%	$1.9M	$5.1M	2.3x	as long as short
BloFin HYPE-USDT	+0.0183%	4h	94.000	−0.176%	$17.0M	$12.6M	75x	as long as short
HTX HYPE-USDT	+0.0194%	4h	94.200	+0.036%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	94.027	−0.148%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	94.084	−0.087%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0157%	1h	94.070	−0.102%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUALlong	+0.0409%	1h	94.166	long leg	$7.5M	$4.6M	50x
Kraken Futures PF_HYPEUSD	+0.0576%	1h	94.158	−0.008%	$21.1M	$29.5M	50x	as long as short