HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0213%/8h= −23.3% APRnext payment −$0.27 per $10,000 · paid last 24h −0.035%

Price spread now: Arcus against Derive−0.060%7-day average −0.005% · you buy dearer than you sell

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

Long on Derive Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.048%−$5 on $10k

Price spread, last 3 days (all we have)+0.083%+$8 · spread now −0.060%, 7d avg −0.005%

Together, before fees+0.035%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Arcus is 0.056% cheaper against Derive than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.005%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.048% in total (about -5.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.27 per $10,000. 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	Derive HYPE-PERP	93.663	−0.0020	get 0.0002% / 1h	32m 03s	$16.4M	$7.1M	10x
Short	Arcus HYPE-USD	93.606	−0.0233	pay 0.0029% / 1h	32m 03s	$1.2M	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Derive. 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 DerivebpFee ArcusbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$44.69
Price spread: −0.060% → −0.005%: −$5.57
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$60.76
Costs to cover: 0.105%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Arcus: live order book, 2 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 Derive no order-book sample	—	—	—	—	—
Sell Arcus live order book, 2 min ago	0.37 bp	3.0 bp −$3	4.8 bp −$48	23.3 bp −$2,327	doesn't fit

Derive: 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	−0.0776%	1h	93.755	+0.098%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0363%	1h	93.966	+0.324%	$22K	$22K	10x	as long as short
Arcus HYPE-USDshort	−0.0233%	1h	93.606	−0.060%	$1.2M	$3.8M	10x
Hotstuff HYPE-PERP	−0.0080%	1h	93.743	+0.086%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0042%	1h	93.640	−0.024%	$704K	$910K	10x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.671	+0.009%	$87K	$366K	20x	as long as short
Derive HYPE-PERPlong	−0.0020%	1h	93.663	long leg	$16.4M	$7.1M	10x
dYdX HYPE-USD	0.0000%	1h	93.677	+0.015%	$127K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.702	+0.042%	$23K	$328K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.770	+0.115%	$26K	—	150x	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	+0.0003%	4h	93.733	+0.075%	$163K	$578K	20x	as long as short
Phoenix HYPE	+0.0009%	1h	94.133	+0.502%	$215K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.702	+0.042%	$322.2M	$282.9M	75x	as long as short
Aster HYPEUSDT	+0.0025%	4h	93.717	+0.058%	$8.9M	$36.0M	300x	as long as short
Binance HYPEUSDT	+0.0059%	4h	93.727	+0.069%	$383.4M	$894.2M	75x	as long as short
MEXC HYPE_USDT	+0.0062%	4h	93.727	+0.069%	$87.3M	$81.6M	100x	as long as short
Phemex HYPEUSDT	+0.0067%	8h	93.736	+0.078%	$12.8M	$2.6M	50x	as long as short
Gate HYPE_USDT	+0.0080%	4h	93.721	+0.062%	$44.5M	$59.1M	75x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	94.027	+0.389%	$5.1M	$29.8M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.772	+0.116%	$18.9M	$59.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.753	+0.097%	$3.0M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.694	+0.034%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.697	+0.036%	$399K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.674	+0.012%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.690	+0.029%	$43K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.694	+0.033%	$5.7M	$44.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.723	+0.065%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.622	−0.043%	$115.4M	$319.6M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.744	+0.087%	$46.5M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.653	−0.010%	$226.7M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.721	+0.062%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.752	+0.095%	$7.8M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.974	+0.333%	$31.3M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.053	+0.417%	$7.6M	$45.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.935	+0.291%	$341K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.862	+0.213%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.749	+0.092%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.712	+0.053%	$491K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.709	+0.049%	$112K	$578K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.737	+0.079%	$76K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.763	+0.107%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.718	+0.059%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	+0.488%	$205K	$7K	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.798%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.614	−0.052%	$18.5M	$42.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0133%	8h	93.734	+0.076%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.750	+0.093%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0219%	4h	93.850	+0.200%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.689	+0.028%	$77K	$142K	15x	as long as short
BloFin HYPE-USDT	+0.0255%	4h	93.716	+0.057%	$17.0M	$12.6M	75x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.747	+0.090%	$2.8M	$6.9M	20x	as long as short
Hyperliquid HYPE	+0.0326%	1h	93.777	+0.122%	$2.04B	$673.8M	10x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0337% / S −0.0163%	1h	93.755	+0.099%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0347%	1h	93.821	+0.169%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0578%	1h	93.811	+0.158%	$20.9M	$29.3M	50x	as long as short