HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0443%/8h= −48.5% APRnext payment −$0.55 per $10,000 · paid last 24h −0.064%

Price spread now: Hotstuff against Deribit−0.114%7-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 Hotstuff

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—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Hotstuff is 0.114% cheaper against Deribit than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit HYPE_USDC-PERPETUAL	93.104	0.0363	pay 0.0045% / 1h	23m 00s	$7.4M	$4.6M	50x
Short	Hotstuff HYPE-PERP	92.998	−0.0080	pay 0.0010% / 1h	23m 00s	$3K	$331	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.114%Rate

Funding earned: −$93.03
Price spread: −0.114% → 0.000%: −$11.39
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$116.42
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 1 min ago; Hotstuff: 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, 1 min ago	3.12 bp	7.6 bp −$8	13.0 bp −$130	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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
Aftermath Perps HYPEUSD	−0.0405%	1h	93.001	−0.111%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0296%	1h	93.001	−0.110%	$196K	$230K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0134%	1h	92.940	−0.176%	$698K	$926K	10x	as long as short
Arcus HYPE-USD	−0.0131%	1h	92.940	−0.176%	$1.2M	$4.0M	10x	as long as short
Hotstuff HYPE-PERPshort	−0.0080%	1h	92.998	−0.114%	$3K	$331	25x
01 Exchange HYPEUSD	−0.0040%	1h	92.991	−0.121%	$90K	$361K	20x	as long as short
Popdex HYPEUSDT	−0.0016%	1h	92.980	−0.133%	$58K	$1.2M	50x	as long as short
Aster HYPEUSDT	−0.0008%	4h	93.073	−0.033%	$8.8M	$36.0M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.011	−0.100%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.978	−0.136%	$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	93.017	−0.093%	$20K	—	150x	as long as short
Bybit HYPEUSDT	+0.0022%	8h	93.090	−0.015%	$322.7M	$287.4M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0022%	4h	92.990	−0.122%	$171K	$518K	20x	as long as short
Derive HYPE-PERP	+0.0033%	1h	92.953	−0.162%	$16.2M	$7.1M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.030	−0.079%	$214K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0046%	4h	93.089	−0.016%	$43.8M	$58.5M	75x	as long as short
Bullet HYPE-USD	+0.0057%	1h	92.980	−0.133%	$111K	$580K	20x	as long as short
MEXC HYPE_USDT	+0.0062%	4h	93.075	−0.031%	$90.5M	$82.1M	100x	as long as short
Binance HYPEUSDT	+0.0064%	4h	93.083	−0.022%	$381.2M	$895.6M	75x	as long as short
edgeX HYPEUSDC	+0.0074%	4h	92.953	−0.162%	$5.0M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.053	−0.054%	$18.5M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.035	−0.074%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	92.976	−0.138%	$396K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	92.949	−0.166%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.030	−0.079%	$34K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.983	−0.130%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.070	−0.037%	$2.02B	$668.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.007	−0.104%	$9.9M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.068	−0.039%	$113.6M	$314.0M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.030	−0.079%	$203K	$8K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.088	−0.017%	$46.9M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.084	−0.021%	$225.6M	$103.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.073	−0.033%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.053	−0.055%	$7.8M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.933	−0.183%	$28.9M	$50.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.008	−0.103%	$7.5M	$45.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.016	−0.095%	$414K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.007	−0.104%	$673K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.021	−0.089%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.013	−0.098%	$492K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.006	−0.105%	$75K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.005	−0.106%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.998	−0.114%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	92.994	−0.118%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.046	−0.062%	$18.3M	$42.0M	50x	as long as short
Kalshi KXHYPEPERP	+0.0108%	8h	93.059	−0.048%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	92.990	−0.122%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	92.880	−0.241%	$30K	$338K	12x	as long as short
HTX HYPE-USDT	+0.0239%	4h	93.147	+0.046%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	92.965	−0.149%	$76K	$159K	15x	as long as short
BloFin HYPE-USDT	+0.0254%	4h	92.996	−0.116%	$16.9M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.047	−0.061%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0158%	1h	93.011	−0.099%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUALlong	+0.0363%	1h	93.104	long leg	$7.4M	$4.6M	50x
Kraken Futures PF_HYPEUSD	+0.0467%	1h	93.104	0.000%	$20.8M	$29.0M	50x	as long as short