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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+0.0474%/8h= +51.9% APRnext payment +$0.59 per $10,000 · paid last 24h +0.036%
Price spread now: RISEx against Derive+0.126%7-day average +0.045% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on DeriveShort on RISEx
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.129%+$13 on $10k
Price spread, last 3 days (all we have)−0.015%−$2 · spread now +0.126%, 7d avg +0.045%
Together, before fees+0.113%+$11 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and RISEx is 0.081% dearer against Derive than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.045%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.129% in total (about 14.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.59 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-PERP93.491−0.0007get 0.0001% / 1h27m 43s$16.4M$7.1M10x
ShortRISEx HYPE/USDC93.6090.0467get 0.0058% / 1h27m 43s$2.7M$6.8M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

RISEx 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
$99.5
Price spread: +0.126% → +0.045%
$8.08
Slippage, 4 orders
no order book: not counted
Fee Derive: 3 bp × 2 orders
−$6
Fee RISEx: 3 bp × 2 orders
−$6
Net
$95.57
Costs to cover
0.120%
Break-even
0.3 days
Slippage unknown: Derive: no order-book sample; RISEx: 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 RISEx live order book, 1 min ago0.64 bp3.6 bp −$45.8 bp −$58doesn't fitdoesn'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−0.1024%1h93.496+0.005%$197K$233K7xas long as short
Aftermath Perps HYPEUSD−0.0276%1h93.540+0.052%$22K$22K10xas long as short
Ondo Perps HYPE-USD.P−0.0252%1h93.510+0.021%$701K$940K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.541+0.054%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0072%1h93.560+0.074%$89K$349K20xas long as short
Bullet HYPE-USD−0.0038%1h93.523+0.034%$112K$583K20xas long as short
Derive HYPE-PERPlong−0.0007%1h93.491long leg$16.4M$7.1M10x
dYdX HYPE-USD0.0000%1h93.563+0.078%$127K$32K5xas long as short
Perpl HYPE0.0000%43m93.578+0.093%$23K$337K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.571+0.086%$20K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0019%4h93.548+0.061%$9.0M$35.8M300xas long as short
Gate HYPE_USDT+0.0024%4h93.542+0.055%$44.1M$56.7M75xas long as short
Bybit HYPEUSDT+0.0037%8h93.550+0.063%$325.9M$287.1M75xas long as short
Orderly PERP_HYPE_USDC+0.0067%4h93.539+0.052%$175K$535K20xas long as short
Phoenix HYPE+0.0068%1h93.549+0.062%$216K$1.2M10xas long as short
Popdex HYPEUSDT+0.0072%1h93.535+0.047%$57K$1.2M50xas long as short
Lighter HYPE+0.0096%1h93.596+0.113%$18.5M$59.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.584+0.100%$3.1M$12.3M20xas long as short
Paradex HYPE-USD-PERP+0.0100%8h93.568+0.083%$340K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.560+0.074%$40K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.525+0.037%$6.0M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.634+0.153%$2.04B$669.5M10xas long as short
Pacifica HYPE+0.0100%1h93.576+0.091%$10.0M$14.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.544+0.057%$386.0M$887.6M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.548+0.061%$114.9M$315.3M50xas long as short
Arcus HYPE-USD+0.0100%1h93.523+0.035%$1.2M$4.0M10xas long as short
MEXC HYPE_USDT+0.0100%4h93.555+0.069%$93.6M$82.2M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.580+0.096%$46.4M$18.7M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.563+0.077%$227.3M$102.1M75xas long as short
BingX HYPE-USDT+0.0100%4h93.549+0.062%—$54.2M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.572+0.087%$7.9M$11.7M20xas long as short
Variational Omni HYPE+0.0100%8h93.541+0.054%$28.9M$49.9M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.580+0.096%$7.5M$45.2M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.558+0.072%$406K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.602+0.119%$677K$2.4M20xas long as short
Vest HYPE-PERP+0.0100%1h93.573+0.088%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.571+0.086%$494K$2.6M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.536+0.049%$76K$167K20xas long as short
SunX HYPE-USDT+0.0100%4h93.577+0.092%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.526+0.038%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.546+0.059%$12.7M$2.6M50xas long as short
Bulk HYPE-USD+0.0100%1h93.556+0.070%$204K$12K10xas long as short
Extended HYPE-USD+0.0104%1h93.541+0.054%$18.3M$41.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.534+0.047%$398K$318K20xas long as short
edgeX HYPEUSDC+0.0116%4h93.544+0.057%$5.1M$29.6M30xas long as short
Kalshi KXHYPEPERP+0.0127%8h93.629+0.148%$1.9M$5.3M2.3xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0177%1h93.627+0.146%$7.4M$4.6M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0208%1h93.600+0.117%$4.9M$5.7M50xas long as short
Reya HYPERUSDPERP+0.0245%1h93.526+0.037%$78K$158K15xas long as short
Injective HYPE/USDC PERP+0.0285%1h93.510+0.021%$30K$291K12xas long as short
HTX HYPE-USDT+0.0323%4h93.707+0.231%$1.5M$7.6M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0164%1h93.576+0.092%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.513+0.024%$17.0M$12.5M75xas long as short
RISEx HYPE/USDCshort+0.0467%1h93.609+0.126%$2.7M$6.8M20x
Kraken Futures PF_HYPEUSD+0.0573%1h93.632+0.151%$19.2M$26.0M50xas long as short