HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0171%/8h= +18.7% APRnext payment +$0.21 per $10,000 · paid last 24h −0.016%

Price spread now: Coinbase International against Derive+0.052%7-day average −0.005% · you sell dearer than you buy

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

Long on Derive Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 3 days (all we have)+0.002%$0 · spread now +0.052%, 7d avg −0.005%

Together, before fees−0.080%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Coinbase International is 0.057% dearer against Derive than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.005%. Mind the row above: over the last 7 days funding on this pair cost −0.082%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive HYPE-PERP	93.341	0.0037	pay 0.0005% / 1h	54m 34s	$16.4M	$7.1M	10x
Short	Coinbase International HYPE-PERP-INTX	93.390	0.0208	get 0.0026% / 1h	54m 34s	$4.9M	$5.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.052%Rate

Funding earned: $35.88
Price spread: +0.052% → −0.005%: $5.75
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $25.63
Costs to cover: 0.160%
Break-even: 2.0 days

Slippage unknown: Derive: no order-book sample; Coinbase International: live order book, 4 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 Coinbase International live order book, 4 min ago	3.21 bp	10.1 bp −$10	13.7 bp −$137	31.9 bp −$3,185	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	−0.1328%	1h	93.228	−0.121%	$197K	$235K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0196%	1h	93.160	−0.194%	$699K	$948K	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	93.219	−0.131%	$89K	$340K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0102%	1h	93.323	−0.019%	$22K	$22K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.208	−0.143%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0002%	4h	93.185	−0.167%	$44.0M	$56.1M	75x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.247	−0.101%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.463	+0.131%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.210	−0.141%	$23K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.400	+0.063%	$20K	—	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	+0.0004%	4h	93.197	−0.155%	$8.9M	$36.3M	300x	as long as short
Derive HYPE-PERPlong	+0.0037%	1h	93.341	long leg	$16.4M	$7.1M	10x
Bybit HYPEUSDT	+0.0040%	8h	93.190	−0.162%	$324.9M	$288.4M	75x	as long as short
Bullet HYPE-USD	+0.0045%	1h	93.214	−0.136%	$112K	$583K	20x	as long as short
Orderly PERP_HYPE_USDC	+0.0078%	4h	93.393	+0.056%	$180K	$536K	20x	as long as short
Phoenix HYPE	+0.0094%	1h	93.336	−0.006%	$215K	$1.2M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.274	−0.072%	$18.5M	$58.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.237	−0.112%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.204	−0.147%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.230	−0.119%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.203	−0.148%	$6.0M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.274	−0.072%	$2.03B	$668.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.249	−0.099%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.205	−0.145%	$385.4M	$890.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.184	−0.168%	$114.6M	$315.8M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.185	−0.167%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.386	+0.048%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.209	−0.142%	$92.0M	$81.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.213	−0.137%	$46.2M	$19.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.216	−0.134%	$226.4M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.188	−0.164%	—	$54.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.382	+0.044%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.285	−0.061%	$28.8M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.319	−0.024%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.338	−0.003%	$405K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.369	+0.030%	$675K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.268	−0.079%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.254	−0.093%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.404	+0.067%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.334	−0.008%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.384	+0.046%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.374	+0.035%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.246	−0.102%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.177	−0.176%	$18.4M	$41.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.401	+0.064%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0120%	4h	93.294	−0.051%	$5.1M	$29.4M	30x	as long as short
Coinbase International HYPE-PERP-INTXshort	+0.0208%	1h	93.390	+0.052%	$4.9M	$5.7M	50x
Reya HYPERUSDPERP	+0.0244%	1h	93.221	−0.129%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.210	−0.141%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0165%	1h	93.400	+0.063%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.352	+0.012%	$17.2M	$12.5M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0403%	1h	93.491	+0.161%	$7.4M	$4.6M	50x	as long as short
HTX HYPE-USDT	+0.0422%	4h	93.533	+0.205%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.279	−0.067%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0573%	1h	93.492	+0.161%	$18.8M	$24.8M	50x	as long as short