HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0025%/8h= −2.8% APRnext payment −$0.03 per $10,000 · paid last 24h +0.007%

Price spread now: Bullet against Derive+0.041%7-day average +0.040% · you sell dearer than you buy

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

Long on Derive Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.016%+$2 on $10k

Price spread, last 3 days (all we have)+0.058%+$6 · spread now +0.041%, 7d avg +0.040%

Together, before fees+0.074%+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.040%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive HYPE-PERP	93.431	0.0017	pay 0.0002% / 1h	48m 05s	$16.4M	$7.1M	10x
Short	Bullet HYPE-USD	93.470	−0.0008	pay 0.0001% / 1h	48m 05s	$113K	$583K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$5.34
Price spread: +0.041% → +0.040%: $0.15
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$19.18
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Bullet: live order book, 41 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 Bullet live order book, 41 min ago	0.54 bp	6.3 bp −$6	11.0 bp −$110	doesn't fit	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	−0.1256%	1h	93.344	−0.093%	$197K	$233K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0157%	1h	93.330	−0.109%	$700K	$944K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0156%	1h	93.389	−0.045%	$22K	$22K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.503	+0.077%	$89K	$344K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.412	−0.021%	$3K	$331	25x	as long as short
Bullet HYPE-USDshort	−0.0008%	1h	93.470	+0.041%	$113K	$583K	20x
dYdX HYPE-USD	0.0000%	1h	93.504	+0.077%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.559	+0.137%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.443	+0.012%	$23K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.513	+0.087%	$19K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0012%	4h	93.494	+0.067%	$8.9M	$36.2M	300x	as long as short
Derive HYPE-PERPlong	+0.0017%	1h	93.431	long leg	$16.4M	$7.1M	10x
Gate HYPE_USDT	+0.0036%	4h	93.491	+0.064%	$44.2M	$56.3M	75x	as long as short
Bybit HYPEUSDT	+0.0041%	8h	93.450	+0.020%	$325.8M	$287.9M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.408	−0.025%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0076%	4h	93.500	+0.073%	$180K	$536K	20x	as long as short
ApeX Omni HYPEUSDT	+0.0092%	1h	93.318	−0.121%	$405K	$1.1M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.544	+0.120%	$18.5M	$59.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.520	+0.095%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.480	+0.052%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.480	+0.052%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.478	+0.050%	$6.0M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.552	+0.129%	$2.04B	$669.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.491	+0.064%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.472	+0.043%	$386.1M	$890.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.440	+0.009%	$114.9M	$316.2M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.449	+0.019%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.335	−0.103%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.484	+0.056%	$92.9M	$81.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.508	+0.082%	$46.4M	$19.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.473	+0.044%	$227.1M	$102.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.475	+0.047%	—	$54.3M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.523	+0.098%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.295	−0.146%	$28.8M	$49.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.336	−0.102%	$7.5M	$46.2M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.443	+0.012%	$676K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.495	+0.068%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.501	+0.074%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.493	+0.066%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.529	+0.104%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.495	+0.068%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.488	+0.061%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.490	+0.063%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.438	+0.007%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.515	+0.090%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0113%	4h	93.276	−0.166%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.550	+0.127%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.486	+0.059%	$77K	$157K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0252%	1h	93.599	+0.179%	$7.4M	$4.6M	50x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.290	−0.151%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.512	+0.086%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.376	−0.059%	$17.1M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0398%	4h	93.650	+0.234%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.546	+0.122%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0573%	1h	93.603	+0.184%	$19.2M	$25.9M	50x	as long as short