HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1709%/8h= −187.1% APRnext payment −$2.14 per $10,000 · paid last 24h −0.329%

Price spread now: Hibachi against Deribit−0.117%7-day average −0.125% · you buy dearer than you sell

Net, funding: paid 7d − costs−$246as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$730.731% of the position

Long on Deribit Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−1.726%−$173 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now −0.117%, 7d avg −0.125%

Together, before fees−1.748%+ Points / potential airdropHibachi: Active · farm board−$175 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.125%, so right now this pair is about funding alone: −$51 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	94.894	0.0277	pay 0.0035% / 1h	52m 03s	$7.5M	$4.3M	50x
Short	Hibachi HYPE/USDT-P	94.783	−0.1432	pay 0.0179% / 1h	52m 03s	$208K	$267K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now −0.117%Rate

Funding earned: −$358.89
Price spread: −0.117% → −0.125%: $0.74
Slippage, 4 orders: −$57.13
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$431.28
Costs to cover: 0.731%
Break-even: never at this rate

Slippage from Deribit: live order book, 2 min ago; Hibachi: live order book, 47 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	2.58 bp	9.0 bp −$9	14.5 bp −$145	doesn't fit	doesn't fit
Sell Hibachi live order book, 47 min ago	17.49 bp	23.9 bp −$24	43.4 bp −$434	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
Hibachi HYPE/USDT-Pshort	−0.1432%	1h	94.783	−0.117%	$208K	$267K	7x
Phemex HYPEUSDT	−0.0429%	8h	94.781	−0.119%	$12.9M	$2.9M	50x	as long as short
Bluefin HYPE-PERP	−0.0323%	1h	94.789	−0.111%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0320%	1h	94.714	−0.190%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0149%	1h	94.818	−0.080%	$112K	$576K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.825	−0.073%	$1.0M	$3.5M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.756	−0.145%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0074%	1h	94.810	−0.089%	$714K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	94.869	−0.026%	$88K	$364K	20x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.847	−0.050%	$20.3M	$30.3M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.791	−0.109%	$147K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.808	−0.091%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.899	+0.005%	$1.9M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.846	−0.051%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.763	−0.139%	$124K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.810	−0.089%	$208K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0012%	4h	94.805	−0.094%	$227.4M	$99.6M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.880	−0.015%	$4.7M	$6.2M	50x	as long as short
Derive HYPE-PERP	+0.0022%	1h	94.691	−0.214%	$16.4M	$7.4M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0051%	8h	94.873	−0.023%	$339K	$154K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0064%	8h	94.821	−0.077%	$118.2M	$327.7M	50x	as long as short
Bybit HYPEUSDT	+0.0067%	8h	94.830	−0.067%	$317.9M	$288.9M	75x	as long as short
Vest HYPE-PERP	+0.0069%	1h	94.911	+0.018%	—	$190K	5x	as long as short
Lighter HYPE	+0.0080%	1h	94.818	−0.080%	$16.3M	$61.8M	20x	as long as short
edgeX HYPEUSDC	+0.0083%	4h	94.539	−0.375%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.821	−0.077%	$3.2M	$10.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.853	−0.043%	$144K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.840	−0.057%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.840	−0.056%	$7.3M	$52.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.924	+0.032%	$2.09B	$688.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.810	−0.089%	$9.6M	$37.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.869	−0.026%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.820	−0.078%	$380.8M	$934.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.685	−0.221%	$219K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.808	−0.091%	$51.0M	$53.7M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.826	−0.072%	$93.9M	$84.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.795	−0.104%	$46.9M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.817	−0.081%	—	$53.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.795	−0.104%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.549	−0.363%	$29.9M	$55.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.656	−0.251%	$7.6M	$44.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.534	−0.379%	$351K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.821	−0.077%	$694K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.922	+0.030%	$501K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.905	+0.012%	$33K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.807	−0.092%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.972	+0.082%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.778	−0.122%	$18.4M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.830	−0.068%	$401K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.889	−0.005%	$3.2M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	94.950	+0.059%	$31K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.803	−0.096%	$83K	$118K	15x	as long as short
Deribit HYPE_USDC-PERPETUALlong	+0.0277%	1h	94.894	long leg	$7.5M	$4.3M	50x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	94.881	−0.014%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.800	−0.099%	$17.2M	$12.5M	75x	as long as short