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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+0.0572%/8h= +62.6% APRnext payment +$0.71 per $10,000 · paid last 24h +0.003%
Price spread now: Kraken Futures against Derive+0.155%7-day average +0.063% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on DeriveShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.069%+$7 on $10k
Price spread, last 3 days (all we have)−0.126%−$13 · spread now +0.155%, 7d avg +0.063%
Together, before fees−0.057%−$6 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Kraken Futures is 0.092% dearer against Derive than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.063%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.069% in total (about 3.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.71 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDerive HYPE-PERP93.5160.0001pay 0.0000% / 1h31m 18s$16.4M$7.1M10x
ShortKraken Futures PF_HYPEUSD93.6610.0572get 0.0072% / 1h31m 18s$19.2M$26.0M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures 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
$120.03
Price spread: +0.155% → +0.063%
$9.23
Slippage, 4 orders
no order book: not counted
Fee Derive: 3 bp × 2 orders
−$6
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$113.26
Costs to cover
0.160%
Break-even
0.4 days
Slippage unknown: Derive: no order-book sample; Kraken Futures: live order book, 3 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 Kraken Futures live order book, 3 min ago1.98 bp7.1 bp −$78.5 bp −$8515.7 bp −$1,57436.6 bp −$18.3K
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−0.1072%1h93.498−0.020%$197K$233K7xas long as short
Aftermath Perps HYPEUSD−0.0272%1h93.521+0.005%$22K$22K10xas long as short
Ondo Perps HYPE-USD.P−0.0240%1h93.520+0.004%$701K$941K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.559+0.046%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0072%1h93.585+0.074%$89K$347K20xas long as short
Bullet HYPE-USD−0.0030%1h93.551+0.038%$112K$583K20xas long as short
dYdX HYPE-USD0.0000%1h93.563+0.051%$127K$32K5xas long as short
Perpl HYPE0.0000%43m93.560+0.047%$23K$337K10xas long as short
Derive HYPE-PERPlong+0.0001%1h93.516long leg$16.4M$7.1M10x
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.597+0.086%$20K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0020%4h93.563+0.051%$9.0M$35.8M300xas long as short
Gate HYPE_USDT+0.0032%4h93.548+0.034%$44.1M$56.6M75xas long as short
Bybit HYPEUSDT+0.0037%8h93.553+0.040%$326.0M$287.0M75xas long as short
Phoenix HYPE+0.0068%1h93.549+0.035%$216K$1.2M10xas long as short
Orderly PERP_HYPE_USDC+0.0069%4h93.564+0.051%$176K$538K20xas long as short
Popdex HYPEUSDT+0.0080%1h93.549+0.035%$57K$1.2M50xas long as short
Lighter HYPE+0.0096%1h93.594+0.084%$18.6M$59.5M20xas long as short
Lighter RH HYPE+0.0096%1h93.583+0.072%$3.1M$12.3M20xas long as short
Paradex HYPE-USD-PERP+0.0100%8h93.571+0.059%$340K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.570+0.058%$40K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.549+0.035%$6.0M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.650+0.143%$2.04B$668.6M10xas long as short
Pacifica HYPE+0.0100%1h93.571+0.059%$10.0M$14.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.548+0.034%$386.0M$888.1M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.546+0.032%$114.9M$315.3M50xas long as short
Arcus HYPE-USD+0.0100%1h93.534+0.019%$1.2M$4.0M10xas long as short
MEXC HYPE_USDT+0.0100%4h93.551+0.038%$93.5M$82.2M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.579+0.067%$46.4M$18.8M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.578+0.066%$227.3M$102.2M75xas long as short
BingX HYPE-USDT+0.0100%4h93.550+0.036%—$54.2M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.590+0.079%$7.9M$11.7M20xas long as short
Variational Omni HYPE+0.0100%8h93.402−0.122%$28.9M$49.8M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.500−0.017%$7.5M$45.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.572+0.060%$406K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.599+0.089%$677K$2.4M20xas long as short
Vest HYPE-PERP+0.0100%1h93.597+0.086%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.593+0.082%$494K$2.6M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.573+0.061%$76K$167K20xas long as short
SunX HYPE-USDT+0.0100%4h93.594+0.084%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.549+0.035%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.551+0.038%$12.7M$2.6M50xas long as short
Bulk HYPE-USD+0.0100%1h93.556+0.043%$204K$12K10xas long as short
Extended HYPE-USD+0.0104%1h93.538+0.023%$18.4M$41.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.582+0.070%$398K$318K20xas long as short
edgeX HYPEUSDC+0.0115%4h93.532+0.017%$5.1M$29.6M30xas long as short
Kalshi KXHYPEPERP+0.0123%8h93.644+0.137%$1.9M$5.3M2.3xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0135%1h93.651+0.144%$7.4M$4.6M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0208%1h93.600+0.090%$4.9M$5.7M50xas long as short
Reya HYPERUSDPERP+0.0245%1h93.549+0.035%$78K$158K15xas long as short
Injective HYPE/USDC PERP+0.0285%1h93.490−0.028%$30K$231K12xas long as short
HTX HYPE-USDT+0.0335%4h93.732+0.231%$1.5M$7.6M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0164%1h93.600+0.089%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.559+0.046%$17.1M$12.5M75xas long as short
RISEx HYPE/USDC+0.0467%1h93.623+0.114%$2.7M$6.8M20xas long as short
Kraken Futures PF_HYPEUSDshort+0.0572%1h93.661+0.155%$19.2M$26.0M50x