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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.010%
Price spread now: edgeX against Derive−0.166%74s7-day average +0.028% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on DeriveShort on edgeX
What this pair did over the last
the charts below follow
Funding, last 7 days+0.024%+$2 on $10k
Price spread, last 3 days (all we have)+0.276%+$28 · spread now −0.166%, 7d avg +0.028%
Together, before fees+0.301%+ Points / potential airdropedgeX: Active · farm board+$30 on $10k · with fees, hour by hour
Funding pays, the price is against you. edgeX is 0.194% cheaper against Derive than usual: you would sell low and buy high (spread −0.166% now, against its 7-day average of +0.028%). If the spread goes back, that is −$19 on $10k: about 6.7 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.024% in total) that is about 56 days. The two prices were read 74 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDerive HYPE-PERP93.4310.0017pay 0.0002% / 1h47m 53s$16.4M$7.1M10x
ShortedgeX HYPEUSDC93.2760.0113get 0.0057% / 4h2h 47m$5.1M$29.5M30x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

edgeX against Derive. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$20.19
Price spread: −0.166% → +0.028%
−$19.38
Slippage, 4 orders
no order book: not counted
Fee Derive: 3 bp × 2 orders
−$6
Fee edgeX: 4.5 bp × 2 orders
−$9
Net
−$14.19
Costs to cover
0.150%
Break-even
11.9 days
Slippage unknown: Derive: no order-book sample; edgeX: live order book, 1 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Derive no order-book sample—————
Sell edgeX live order book, 1 min ago0.32 bp4.8 bp −$55.0 bp −$50151.1 bp −$15.1Kdoesn'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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1256%1h93.344−0.093%$197K$233K7xas long as short
Ondo Perps HYPE-USD.P−0.0157%1h93.330−0.109%$700K$944K10xas long as short
Aftermath Perps HYPEUSD−0.0156%1h93.389−0.045%$22K$22K10xas long as short
01 Exchange HYPEUSD−0.0080%1h93.503+0.077%$89K$344K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.412−0.021%$3K$33125xas long as short
Bullet HYPE-USD−0.0008%1h93.470+0.041%$113K$583K20xas long as short
dYdX HYPE-USD0.0000%1h93.504+0.077%$127K$33K5xas long as short
Kalshi KXHYPEPERP0.0000%8h93.559+0.137%$1.9M$5.4M2.3xas long as short
Perpl HYPE0.0000%43m93.443+0.012%$23K$343K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.513+0.087%$19K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0012%4h93.487+0.059%$8.9M$36.2M300xas long as short
Derive HYPE-PERPlong+0.0017%1h93.431long leg$16.4M$7.1M10x
Gate HYPE_USDT+0.0036%4h93.461+0.032%$44.2M$56.3M75xas long as short
Bybit HYPEUSDT+0.0041%8h93.450+0.020%$325.8M$287.9M75xas long as short
Phoenix HYPE+0.0068%1h93.408−0.025%$216K$1.2M10xas long as short
Orderly PERP_HYPE_USDC+0.0076%4h93.500+0.073%$180K$536K20xas long as short
ApeX Omni HYPEUSDT+0.0092%1h93.318−0.121%$405K$1.1M50xas long as short
Lighter HYPE+0.0096%1h93.544+0.120%$18.5M$59.3M20xas long as short
Lighter RH HYPE+0.0096%1h93.520+0.095%$3.1M$12.3M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.480+0.052%$56K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h93.480+0.052%$40K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.478+0.050%$6.0M$44.4M10xas long as short
Hyperliquid HYPE+0.0100%1h93.516+0.090%$2.04B$669.0M10xas long as short
Pacifica HYPE+0.0100%1h93.491+0.064%$10.0M$14.5M20xas long as short
Binance HYPEUSDT+0.0100%4h93.461+0.032%$386.0M$890.3M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.440+0.009%$114.8M$316.2M50xas long as short
Arcus HYPE-USD+0.0100%1h93.449+0.019%$1.2M$4.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.335−0.103%$204K$12K10xas long as short
MEXC HYPE_USDT+0.0100%4h93.455+0.025%$93.0M$81.8M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.486+0.058%$46.4M$19.4M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.450+0.020%$227.0M$102.1M75xas long as short
BingX HYPE-USDT+0.0100%4h93.451+0.021%—$54.3M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.523+0.098%$7.9M$11.7M20xas long as short
Variational Omni HYPE+0.0100%8h93.295−0.146%$28.8M$49.8M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.336−0.102%$7.5M$46.2M10xas long as short
StandX HYPE-USD+0.0100%1h93.443+0.012%$676K$2.4M20xas long as short
Vest HYPE-PERP+0.0100%1h93.495+0.068%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.501+0.074%$494K$2.6M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.493+0.066%$76K$169K20xas long as short
SunX HYPE-USDT+0.0100%4h93.529+0.104%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.495+0.068%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.488+0.061%$12.7M$2.6M50xas long as short
Paradex HYPE-USD-PERP+0.0100%8h93.490+0.063%$339K$171K20xas long as short
Extended HYPE-USD+0.0104%1h93.438+0.007%$18.4M$41.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.515+0.090%$398K$318K20xas long as short
edgeX HYPEUSDCshort+0.0113%4h93.276−0.166%$5.1M$29.5M30x
Coinbase International HYPE-PERP-INTX+0.0208%1h93.550+0.127%$4.9M$5.7M50xas long as short
Reya HYPERUSDPERP+0.0245%1h93.486+0.059%$77K$157K15xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0252%1h93.599+0.179%$7.4M$4.6M50xas long as short
Injective HYPE/USDC PERP+0.0285%1h93.290−0.151%$30K$231K12xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0165%1h93.512+0.086%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.376−0.059%$17.1M$12.5M75xas long as short
HTX HYPE-USDT+0.0398%4h93.650+0.234%$1.5M$7.6M75xas long as short
RISEx HYPE/USDC+0.0467%1h93.546+0.122%$2.7M$6.8M20xas long as short
Kraken Futures PF_HYPEUSD+0.0573%1h93.603+0.184%$19.2M$25.9M50xas long as short