Funding you earn now, next payment 06:00 UTC−0.0357%/8h= −39.1% APRpaid last 24h −0.038%
Price spread now: Variational Omni against Deribit−0.015%7-day average −0.074% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.011%−$1 on $10k
+Price spread, last 4 days (all we have)−0.127%−$13 · spread now −0.015%, 7d avg −0.074%
=Together, before fees−0.138%+ Points / potential airdropVariational Omni: Active · farm board−$14 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Variational Omni is 0.059% dearer against Deribit than usual: you sell high and buy low (spread −0.015% now, against its 7-day average of −0.074%): +$6 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 4 days (−0.011% in total) that is about 18 days.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.011% in total (about -1.2% a year). A funding rate is set anew for every payment. 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 | 93.433 | 0.0457 | pay 0.0057% / 1h | 41m 27s | $7.5M | $4.0M | 50x |
| Short | Variational Omni HYPE | 93.419 | 0.0100 | get 0.0100% / 8h | 2h 41m | $28.7M | $56.6M | — |
Deribit HYPE_USDC-PERPETUAL
Variational Omni HYPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$74.97
- Price spread: −0.015% → −0.074%
- $5.87
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$76.1
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Deribit: live order book, 3 min ago; Variational Omni: RFQ quote, 3 min ago. 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, 3 min ago | 0.86 bp | 5.0 bp −$5 | 11.6 bp −$116 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 3 min ago | 0.42 bp | doesn't fit | 2.1 bp −$21 | 9.6 bp −$957 | 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-P | −0.1760% | 1h | 93.205 | −0.244% | $196K | $232K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0367% | 1h | 93.431 | −0.002% | $22K | $21K | 10x | as long as short |
| Bullet HYPE-USD | −0.0081% | 1h | 93.186 | −0.265% | $111K | $578K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.322 | −0.119% | $3K | $331 | 25x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0025% | 4h | 93.316 | −0.125% | $146K | $663K | 20x | as long as short |
| 01 Exchange HYPEUSD | −0.0024% | 1h | 93.252 | −0.194% | $87K | $366K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.319 | −0.123% | $128K | $29K | 5x | as long as short |
| Kalshi KXHYPEPERP | 0.0000% | 8h | 93.398 | −0.037% | $1.8M | $5.6M | 2.3x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.239 | −0.207% | $22K | $290K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0002% | 1h | 93.196 | −0.254% | $62K | — | 150x | as long as short |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Bullet HYPE-USD
Hotstuff HYPE-PERP
Orderly PERP_HYPE_USDC
01 Exchange HYPEUSD
dYdX HYPE-USD
Kalshi KXHYPEPERP
Perpl HYPE
gTrade (Gains Network) HYPE/USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Arcus HYPE-USD | +0.0011% | 1h | 93.207 | −0.242% | $1.0M | $3.9M | 10x | as long as short |
| Bitget HYPEUSDT | +0.0016% | 4h | 93.210 | −0.239% | $225.5M | $98.8M | 75x | as long as short |
| Ondo Perps HYPE-USD.P | +0.0019% | 1h | 93.260 | −0.185% | $701K | $1.2M | 10x | as long as short |
| Bybit HYPEUSDT | +0.0023% | 8h | 93.181 | −0.270% | $316.7M | $283.7M | 75x | as long as short |
| Phoenix HYPE | +0.0026% | 1h | 93.305 | −0.137% | $209K | $1.2M | 10x | as long as short |
| Phemex HYPEUSDT | +0.0032% | 8h | 93.352 | −0.087% | $12.6M | $2.7M | 50x | as long as short |
| edgeX HYPEUSDC | +0.0084% | 4h | 93.341 | −0.099% | $5.0M | $29.9M | 30x | as long as short |
| Paradex HYPE-USD-PERP | +0.0095% | 8h | 93.282 | −0.162% | $339K | $162K | 20x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.267 | −0.178% | $16.1M | $63.0M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.269 | −0.176% | $3.1M | $11.4M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.225 | −0.223% | $77K | $1.1M | 50x | as long as short |
| Katana Perps HYPE-USD | +0.0099% | 8h | 93.230 | −0.217% | $28K | $1.7M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.219 | −0.230% | $8.0M | $48.5M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.267 | −0.178% | $2.03B | $668.4M | 10x | as long as short |
| Aster HYPEUSDT | +0.0100% | 4h | 93.236 | −0.211% | $8.7M | $36.4M | 300x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.267 | −0.178% | $10.1M | $15.4M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.224 | −0.223% | $373.8M | $912.0M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.207 | −0.242% | $114.4M | $308.7M | 50x | as long as short |
| Gate HYPE_USDT | +0.0100% | 4h | 93.224 | −0.224% | $46.5M | $54.1M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.223 | −0.225% | $90.5M | $80.5M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.183 | −0.268% | $46.0M | $18.8M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.236 | −0.211% | — | $53.9M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.373 | −0.064% | $7.3M | $10.9M | 20x | as long as short |
| Variational Omni HYPEshort | +0.0100% | 8h | 93.419 | −0.015% | $28.7M | $56.6M | — | |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.468 | +0.037% | $7.5M | $47.1M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.345 | −0.094% | $342K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.354 | −0.085% | $668K | $2.9M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.298 | −0.145% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.237 | −0.210% | $501K | $2.7M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.325 | −0.116% | $79K | $166K | 20x | as long as short |
| Derive HYPE-PERP | +0.0100% | 1h | 93.321 | −0.120% | $16.1M | $7.5M | 10x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.299 | −0.143% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.331 | −0.109% | $2.0M | $1.9M | 10x | as long as short |
| HTX HYPE-USDT | +0.0100% | 4h | 93.500 | +0.072% | $1.4M | $6.4M | 75x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.344 | −0.095% | $215K | $15K | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.196 | −0.253% | $18.1M | $43.2M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.328 | −0.113% | $395K | $161K | 20x | as long as short |
| Injective HYPE/USDC PERP | +0.0122% | 1h | 93.330 | −0.110% | $30K | $339K | 12x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0144% | 1h | 93.360 | −0.078% | $4.8M | $5.6M | 50x | as long as short |
| Reya HYPERUSDPERP | +0.0268% | 1h | 93.204 | −0.245% | $80K | $131K | 15x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0332% / S −0.0154% | 1h | 93.209 | −0.239% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.333 | −0.107% | $16.8M | $11.9M | 75x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0341% | 1h | 93.414 | −0.020% | $20.8M | $29.6M | 50x | as long as short |
| Deribit HYPE_USDC-PERPETUALlong | +0.0457% | 1h | 93.433 | long leg | $7.5M | $4.0M | 50x | |
| RISEx HYPE/USDC | +0.0527% | 1h | 93.302 | −0.140% | $3.2M | $6.2M | 20x | as long as short |
Arcus HYPE-USD
Bitget HYPEUSDT
Ondo Perps HYPE-USD.P
Bybit HYPEUSDT
Phoenix HYPE
Phemex HYPEUSDT
edgeX HYPEUSDC
Paradex HYPE-USD-PERP
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Aster HYPEUSDT
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Gate HYPE_USDT
MEXC HYPE_USDT
KuCoin HYPEUSDTM
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
Derive HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
HTX HYPE-USDT
Bulk HYPE-USD
Extended HYPE-USD
Aevo HYPE-PERP
Injective HYPE/USDC PERP
Coinbase International HYPE-PERP-INTX
Reya HYPERUSDPERP
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
Kraken Futures PF_HYPEUSD
RISEx HYPE/USDC