Funding you earn now, next payment 23:00 UTC+0.0084%/8h= +9.2% APRnext payment +$0.11 per $10,000 · paid last 24h +0.067%
Price spread now: Hyperliquid against Derive+0.116%7-day average +0.077% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.085%+$9 on $10k
+Price spread, last 3 days (all we have)−0.001%$0 · spread now +0.116%, 7d avg +0.077%
=Together, before fees+0.084%+ Points / potential airdropHyperliquid: Season 2 · farm board+$8 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.039% dearer against Derive than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.077%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive HYPE-PERP | 93.337 | 0.0016 | pay 0.0002% / 1h | 41m 32s | $16.3M | $7.1M | 10x |
| Short | Hyperliquid HYPE | 93.445 | 0.0100 | get 0.0013% / 1h | 41m 32s | $2.03B | $672.3M | 10x |
Derive HYPE-PERP
Hyperliquid HYPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Derive. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $17.73
- Price spread: +0.116% → +0.077%
- $3.86
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $6.6
- Costs to cover
- 0.150%
- Break-even
- 4.4 days
Slippage unknown: Derive: no order-book sample; Hyperliquid: live order book, 13 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 Hyperliquid live order book, 13 min ago | 0.05 bp | 4.6 bp −$5 | 6.5 bp −$65 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps HYPEUSD | −0.0360% | 1h | 93.244 | −0.100% | $22K | $22K | 10x | as long as short |
| Arcus HYPE-USD | −0.0131% | 1h | 93.349 | +0.013% | $1.2M | $4.0M | 10x | as long as short |
| Hibachi HYPE/USDT-P | −0.0128% | 1h | 93.251 | −0.092% | $197K | $230K | 7x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.396 | +0.064% | $3K | $331 | 25x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0058% | 1h | 93.310 | −0.029% | $700K | $925K | 10x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.419 | +0.088% | $127K | $32K | 5x | as long as short |
| 01 Exchange HYPEUSD | 0.0000% | 1h | 93.344 | +0.008% | $90K | $361K | 20x | as long as short |
| Popdex HYPEUSDT | 0.0000% | 1h | 93.319 | −0.019% | $58K | $1.2M | 50x | as long as short |
| Kalshi KXHYPEPERP | 0.0000% | 8h | 93.446 | +0.117% | $1.9M | $5.3M | 2.3x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.351 | +0.015% | $23K | $331K | 10x | as long as short |
Aftermath Perps HYPEUSD
Arcus HYPE-USD
Hibachi HYPE/USDT-P
Hotstuff HYPE-PERP
Ondo Perps HYPE-USD.P
dYdX HYPE-USD
01 Exchange HYPEUSD
Popdex HYPEUSDT
Kalshi KXHYPEPERP
Perpl HYPEShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0001% | 1h | 93.434 | +0.104% | $20K | — | 150x | as long as short |
| Aster HYPEUSDT | +0.0015% | 4h | 93.391 | +0.058% | $8.9M | $35.9M | 300x | as long as short |
| Derive HYPE-PERPlong | +0.0016% | 1h | 93.337 | long leg | $16.3M | $7.1M | 10x | |
| Bybit HYPEUSDT | +0.0029% | 8h | 93.301 | −0.038% | $324.0M | $286.9M | 75x | as long as short |
| Phoenix HYPE | +0.0034% | 1h | 93.278 | −0.063% | $216K | $1.2M | 10x | as long as short |
| Orderly PERP_HYPE_USDC | +0.0037% | 4h | 93.373 | +0.039% | $171K | $519K | 20x | as long as short |
| Gate HYPE_USDT | +0.0058% | 4h | 93.386 | +0.053% | $43.8M | $57.8M | 75x | as long as short |
| Bullet HYPE-USD | +0.0078% | 1h | 93.370 | +0.036% | $112K | $578K | 20x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.445 | +0.116% | $18.5M | $58.7M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.416 | +0.085% | $3.1M | $12.1M | 20x | as long as short |
| MEXC HYPE_USDT | +0.0096% | 4h | 93.397 | +0.065% | $90.4M | $81.6M | 100x | as long as short |
| Binance HYPEUSDT | +0.0097% | 4h | 93.357 | +0.021% | $383.6M | $891.5M | 75x | as long as short |
| Paradex HYPE-USD-PERP | +0.0099% | 8h | 93.404 | +0.072% | $339K | $170K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.390 | +0.057% | $40K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.315 | −0.023% | $5.9M | $44.0M | 10x | as long as short |
| Hyperliquid HYPEshort | +0.0100% | 1h | 93.445 | +0.116% | $2.03B | $672.3M | 10x | |
| Pacifica HYPE | +0.0100% | 1h | 93.402 | +0.070% | $10.0M | $14.3M | 20x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.316 | −0.022% | $114.1M | $314.0M | 50x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.390 | +0.057% | $204K | $10K | 10x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.399 | +0.067% | $47.3M | $18.9M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.405 | +0.073% | $226.5M | $102.8M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.380 | +0.046% | — | $54.0M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.400 | +0.068% | $7.9M | $11.5M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.236 | −0.108% | $28.9M | $50.6M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.228 | −0.116% | $7.5M | $45.6M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.375 | +0.041% | $413K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.385 | +0.052% | $675K | $2.5M | 20x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.420 | +0.089% | $494K | $2.6M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.381 | +0.048% | $76K | $168K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.434 | +0.104% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.365 | +0.030% | $2.0M | $2.0M | 10x | as long as short |
| Phemex HYPEUSDT | +0.0100% | 8h | 93.357 | +0.022% | $12.7M | $2.6M | 50x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.402 | +0.070% | — | $454K | 5x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.368 | +0.034% | $18.2M | $42.1M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.385 | +0.052% | $397K | $318K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0104% | 4h | 93.291 | −0.049% | $5.1M | $29.5M | 30x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0176% | 1h | 93.420 | +0.089% | $4.9M | $5.7M | 50x | as long as short |
| Injective HYPE/USDC PERP | +0.0239% | 1h | 93.250 | −0.093% | $30K | $338K | 12x | as long as short |
| Reya HYPERUSDPERP | +0.0246% | 1h | 93.382 | +0.049% | $78K | $158K | 15x | as long as short |
| HTX HYPE-USDT | +0.0271% | 4h | 93.550 | +0.229% | $1.5M | $7.7M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0280% | 1h | 93.455 | +0.127% | $2.8M | $6.8M | 20x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0328% | 1h | 93.464 | +0.136% | $7.4M | $4.6M | 50x | as long as short |
| BloFin HYPE-USDT | +0.0336% | 4h | 93.332 | −0.005% | $16.9M | $12.5M | 75x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0340% / S −0.0159% | 1h | 93.414 | +0.082% | $1.5M | — | 100x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0465% | 1h | 93.503 | +0.179% | $20.8M | $28.8M | 50x | as long as short |
gTrade (Gains Network) HYPE/USD
Aster HYPEUSDT
Bybit HYPEUSDT
Phoenix HYPE
Orderly PERP_HYPE_USDC
Gate HYPE_USDT
Bullet HYPE-USD
Lighter HYPE
Lighter RH HYPE
MEXC HYPE_USDT
Binance HYPEUSDT
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Pacifica HYPE
OKX HYPE-USDT-SWAP
Bulk HYPE-USD
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Phemex HYPEUSDT
Vest HYPE-PERP
Extended HYPE-USD
Aevo HYPE-PERP
edgeX HYPEUSDC
Coinbase International HYPE-PERP-INTX
Injective HYPE/USDC PERP
Reya HYPERUSDPERP
HTX HYPE-USDT
RISEx HYPE/USDC
Deribit HYPE_USDC-PERPETUAL
BloFin HYPE-USDT
GMX HYPE/USD [WBTC.b-USDC]
Kraken Futures PF_HYPEUSD