HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0148%/8h= +16.2% APRnext payment +$0.18 per $10,000 · paid last 24h +0.027%

Price spread now: GMX against Derive+0.091%7-day average +0.034% · you sell dearer than you buy

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

Long on Derive Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.085%+$8 on $10k

Price spread, last 3 days (all we have)+0.111%+$11 · spread now +0.091%, 7d avg +0.034%

Together, before fees+0.196%+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GMX 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 +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive HYPE-PERP	93.381	0.0017	pay 0.0002% / 1h	46m 31s	$16.4M	$7.1M	10x
Short	GMX HYPE/USD [WBTC.b-USDC]	93.466	L +0.0339% / S −0.0165%	get 0.0021% / 1h	46m 31s	$1.4M	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.091%Rate

Funding earned: $31.01
Price spread: +0.091% → +0.034%: $5.67
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $18.68
Costs to cover: 0.180%
Break-even: 2.8 days

Slippage unknown: Derive: no order-book sample; GMX: no order-book sample. 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 GMX no order-book sample	—	—	—	—	—

Derive and GMX: 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	−0.040%	$197K	$233K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0186%	1h	93.330	−0.055%	$701K	$943K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0165%	1h	93.409	+0.029%	$22K	$22K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.472	+0.097%	$89K	$345K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.410	+0.031%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0001%	1h	93.419	+0.040%	$112K	$583K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.504	+0.131%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.506	+0.134%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.443	+0.066%	$23K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.465	+0.089%	$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	+0.0014%	4h	93.417	+0.038%	$8.9M	$36.2M	300x	as long as short
Derive HYPE-PERPlong	+0.0017%	1h	93.381	long leg	$16.4M	$7.1M	10x
Gate HYPE_USDT	+0.0024%	4h	93.454	+0.078%	$44.2M	$56.3M	75x	as long as short
Bybit HYPEUSDT	+0.0039%	8h	93.460	+0.084%	$325.7M	$287.8M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.408	+0.029%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0076%	4h	93.457	+0.081%	$180K	$536K	20x	as long as short
ApeX Omni HYPEUSDT	+0.0092%	1h	93.318	−0.068%	$405K	$1.1M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.476	+0.101%	$18.5M	$59.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.457	+0.081%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.448	+0.071%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.500	+0.127%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.418	+0.040%	$6.0M	$44.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.475	+0.100%	$2.04B	$669.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.456	+0.080%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.447	+0.070%	$386.0M	$888.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.459	+0.083%	$114.8M	$315.6M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.433	+0.055%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.335	−0.049%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.450	+0.074%	$93.1M	$81.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.403	+0.023%	$46.3M	$19.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.450	+0.074%	$227.0M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.452	+0.076%	—	$54.3M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.423	+0.045%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.295	−0.092%	$28.8M	$49.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.407	+0.028%	$7.5M	$46.2M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.504	+0.131%	$676K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.486	+0.112%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.471	+0.096%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.424	+0.046%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.469	+0.094%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.409	+0.030%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.397	+0.017%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.483	+0.109%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.447	+0.070%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.462	+0.086%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0108%	4h	93.395	+0.014%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.570	+0.202%	$4.9M	$5.7M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0242%	1h	93.529	+0.158%	$7.4M	$4.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.426	+0.048%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.360	−0.023%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]short	L +0.0339% / S −0.0165%	1h	93.466	+0.091%	$1.4M	—	100x
BloFin HYPE-USDT	+0.0340%	4h	93.408	+0.029%	$17.1M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0391%	4h	93.650	+0.288%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.518	+0.146%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0573%	1h	93.501	+0.128%	$19.2M	$25.9M	50x	as long as short