HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0351%/8h= +38.4% APRnext payment +$0.44 per $10,000 · paid last 24h +0.036%

Price spread now: Deribit against dYdX+0.038%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$750.751% of the position

Long on dYdX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 3 days (all we have)−0.083%−$8 · spread now +0.038%, 7d avg +0.039%

Together, before fees+0.008%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.039%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.090% in total (about 4.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.44 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX HYPE-USD	93.267	0	get 0.0000% / 1h	37m 54s	$127K	$32K	5x
Short	Deribit HYPE_USDC-PERPETUAL	93.302	0.0351	get 0.0044% / 1h	37m 54s	$7.4M	$4.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against dYdX. 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 dYdXbpFee DeribitbpOrdersPrice spread, now +0.038%Rate

Funding earned: $73.71
Price spread: +0.038% → +0.039%: −$0.09
Slippage, 4 orders: −$58.09
Fee dYdX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$1.47
Costs to cover: 0.751%
Break-even: 7.1 days

Slippage from dYdX: live order book, 46 min ago; Deribit: live order book, 1 min ago.

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 dYdX live order book, 46 min ago	25.29 bp	30.3 bp −$30	42.7 bp −$427	131.3 bp −$13.1K	547.5 bp −$273.7K
Sell Deribit live order book, 1 min ago	1.55 bp	7.5 bp −$8	12.3 bp −$123	doesn't fit	doesn't fit

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	−0.0370%	1h	93.224	−0.045%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0160%	1h	93.305	+0.040%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.152	−0.123%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0094%	1h	93.190	−0.082%	$700K	$924K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.206	−0.065%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0008%	1h	93.248	−0.020%	$90K	$361K	20x	as long as short
dYdX HYPE-USDlong	0.0000%	1h	93.267	long leg	$127K	$32K	5x
Popdex HYPEUSDT	0.0000%	1h	93.224	−0.046%	$58K	$1.2M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.240	−0.028%	$23K	$331K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.269	+0.002%	$20K	—	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	+0.0010%	4h	93.167	−0.107%	$8.9M	$35.9M	300x	as long as short
Derive HYPE-PERP	+0.0028%	1h	93.203	−0.068%	$16.3M	$7.1M	10x	as long as short
Bybit HYPEUSDT	+0.0029%	8h	93.140	−0.136%	$323.3M	$286.9M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0034%	4h	93.240	−0.029%	$171K	$519K	20x	as long as short
Bullet HYPE-USD	+0.0034%	1h	93.235	−0.034%	$112K	$579K	20x	as long as short
Phoenix HYPE	+0.0034%	1h	93.374	+0.115%	$214K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0042%	4h	93.156	−0.119%	$43.9M	$57.9M	75x	as long as short
Binance HYPEUSDT	+0.0091%	4h	93.158	−0.116%	$383.0M	$892.5M	75x	as long as short
MEXC HYPE_USDT	+0.0094%	4h	93.156	−0.119%	$90.0M	$81.7M	100x	as long as short
Lighter HYPE	+0.0096%	1h	93.223	−0.047%	$18.5M	$58.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.203	−0.068%	$3.1M	$12.1M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.214	−0.057%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.260	−0.007%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.216	−0.054%	$5.9M	$44.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.188	−0.085%	$2.02B	$670.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.215	−0.056%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.119	−0.159%	$113.9M	$313.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.390	+0.132%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.194	−0.078%	$47.2M	$18.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.143	−0.133%	$225.8M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.165	−0.109%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.202	−0.070%	$7.8M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.354	+0.094%	$29.0M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.350	+0.089%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.355	+0.094%	$413K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.288	+0.023%	$675K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.272	+0.006%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.244	−0.025%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.255	−0.013%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.239	−0.030%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.198	−0.074%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.234	−0.035%	$12.7M	$2.6M	50x	as long as short
edgeX HYPEUSDC	+0.0103%	4h	93.338	+0.076%	$5.1M	$29.5M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.138	−0.138%	$18.2M	$42.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.180	−0.094%	$396K	$318K	20x	as long as short
Kalshi KXHYPEPERP	+0.0108%	8h	93.288	+0.023%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.310	+0.046%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.150	−0.125%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.231	−0.039%	$78K	$158K	15x	as long as short
HTX HYPE-USDT	+0.0262%	4h	93.366	+0.106%	$1.5M	$7.7M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.256	−0.012%	$2.8M	$6.8M	20x	as long as short
BloFin HYPE-USDT	+0.0336%	4h	93.252	−0.016%	$16.9M	$12.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0159%	1h	93.264	−0.003%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUALshort	+0.0351%	1h	93.302	+0.038%	$7.4M	$4.6M	50x
Kraken Futures PF_HYPEUSD	+0.0466%	1h	93.300	+0.036%	$20.8M	$28.9M	50x	as long as short