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Funding arb · Price arb /

HYPE

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0246%/8h= +26.9% APRnext payment +$0.31 per $10,000 · paid last 24h +0.008%
Price spread now: Deribit against Extended+0.116%7-day average +0.083% · you sell dearer than you buy
Net, funding: paid 7d − costs−$30as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$230.231% of the position
Long on ExtendedShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.068%−$7 on $10k
Price spread, last 3 days (all we have)−0.119%−$12 · spread now +0.116%, 7d avg +0.083%
Together, before fees−0.188%+ Points / potential airdropExtended: Active · farm board−$19 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Deribit is 0.034% dearer against Extended than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.083%. Mind the row above: over the last 7 days funding on this pair cost −0.068%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.068% in total (about -3.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.31 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
LongExtended HYPE-USD93.2620.0104pay 0.0013% / 1h11m 21s$18.2M$41.7M50x
ShortDeribit HYPE_USDC-PERPETUAL93.3710.0350get 0.0044% / 1h11m 21s$7.4M$4.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Extended. 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

Funding earned
$51.66
Price spread: +0.116% → +0.083%
$3.35
Slippage, 4 orders
−$11.13
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$31.88
Costs to cover
0.231%
Break-even
2.7 days
Slippage from Extended: live order book, 3 min ago; Deribit: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Extended live order book, 3 min ago0.05 bp6.4 bp −$68.7 bp −$8727.9 bp −$2,791doesn't fit
Sell Deribit live order book, 3 min ago1.50 bp8.8 bp −$911.9 bp −$119doesn't fitdoesn't fit

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
Aftermath Perps HYPEUSD−0.0451%1h93.227−0.038%$22K$22K10xas long as short
Hibachi HYPE/USDT-P−0.0384%1h93.322+0.064%$197K$230K7xas long as short
Arcus HYPE-USD−0.0131%1h93.196−0.071%$1.2M$3.9M10xas long as short
Ondo Perps HYPE-USD.P−0.0123%1h93.190−0.078%$699K$912K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.287+0.026%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0024%1h93.2620.000%$90K$359K20xas long as short
dYdX HYPE-USD0.0000%1h93.308+0.049%$127K$32K5xas long as short
Popdex HYPEUSDT0.0000%1h93.244−0.020%$57K$1.2M50xas long as short
Perpl HYPE0.0000%43m93.261−0.002%$23K$330K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.287+0.027%$27K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0003%4h93.257−0.006%$8.9M$35.8M300xas long as short
Orderly PERP_HYPE_USDC+0.0018%4h93.293+0.033%$176K$524K20xas long as short
Bybit HYPEUSDT+0.0022%8h93.264+0.002%$323.0M$283.2M75xas long as short
Phoenix HYPE+0.0034%1h93.333+0.076%$214K$1.2M10xas long as short
Bullet HYPE-USD+0.0046%1h93.254−0.009%$112K$578K20xas long as short
Derive HYPE-PERP+0.0050%1h93.245−0.019%$16.3M$7.0M10xas long as short
Gate HYPE_USDT+0.0064%4h93.243−0.021%$44.0M$58.7M75xas long as short
Binance HYPEUSDT+0.0065%4h93.272+0.010%$382.9M$889.3M75xas long as short
MEXC HYPE_USDT+0.0066%4h93.246−0.018%$90.1M$82.3M100xas long as short
edgeX HYPEUSDC+0.0080%4h93.297+0.037%$5.1M$29.6M30xas long as short
Lighter HYPE+0.0096%1h93.329+0.072%$18.6M$59.0M20xas long as short
Lighter RH HYPE+0.0096%1h93.320+0.062%$3.1M$12.2M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.291+0.031%$397K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.282+0.021%$339K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.270+0.008%$35K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.285+0.025%$5.9M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.288+0.027%$2.03B$669.9M10xas long as short
Pacifica HYPE+0.0100%1h93.292+0.032%$10.0M$14.4M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.267+0.005%$114.1M$313.1M50xas long as short
Bulk HYPE-USD+0.0100%1h93.232−0.032%$204K$8K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.267+0.005%$47.0M$18.7M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.286+0.025%$226.2M$102.8M75xas long as short
BingX HYPE-USDT+0.0100%4h93.2620.000%—$53.7M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.313+0.054%$7.8M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h93.203−0.063%$29.0M$50.5M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.339+0.082%$7.5M$45.7M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.280+0.019%$415K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.317+0.059%$675K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.300+0.040%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.272+0.010%$493K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.285+0.024%$75K$167K20xas long as short
SunX HYPE-USDT+0.0100%4h93.301+0.041%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.277+0.016%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.299+0.039%$12.7M$2.6M50xas long as short
Extended HYPE-USDlong+0.0104%1h93.262long leg$18.2M$41.7M50x
Kalshi KXHYPEPERP+0.0119%8h93.374+0.120%$1.9M$5.2M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.440+0.190%$4.9M$5.7M50xas long as short
HTX HYPE-USDT+0.0228%4h93.483+0.237%$1.5M$7.7M75xas long as short
Injective HYPE/USDC PERP+0.0239%1h93.210−0.056%$30K$338K12xas long as short
Reya HYPERUSDPERP+0.0247%1h93.235−0.029%$77K$159K15xas long as short
BloFin HYPE-USDT+0.0268%4h93.316+0.057%$16.8M$12.4M75xas long as short
RISEx HYPE/USDC+0.0280%1h93.308+0.048%$2.7M$6.8M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0165%1h93.282+0.022%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUALshort+0.0350%1h93.371+0.116%$7.4M$4.6M50x
Kraken Futures PF_HYPEUSD+0.0465%1h93.388+0.135%$20.9M$28.9M50xas long as short