HYPE

Alert: funding

Alert: spread

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: Derive against Hyperliquid−0.118%7-day average −0.077% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$9 on $10k

Price spread, last 3 days (all we have)+0.003%$0 · spread now −0.118%, 7d avg −0.077%

Together, before fees−0.083%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Derive is 0.040% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.077%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid HYPE	93.375	0.0100	pay 0.0013% / 1h	41m 17s	$2.03B	$672.3M	10x
Short	Derive HYPE-PERP	93.265	0.0016	get 0.0002% / 1h	41m 17s	$16.3M	$7.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Hyperliquid. 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 HyperliquidbpFee DerivebpOrdersPrice spread, now −0.118%Rate

Funding earned: −$17.73
Price spread: −0.118% → −0.077%: −$4.04
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Derive: 3 bp × 2 orders: −$6
Net: −$36.78
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 13 min ago; Derive: no order-book sample. 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 Hyperliquid live order book, 13 min ago	0.05 bp	4.7 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

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	93.272	−0.110%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.349	−0.028%	$1.2M	$4.0M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0128%	1h	93.251	−0.133%	$197K	$230K	7x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.396	+0.022%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0058%	1h	93.310	−0.070%	$700K	$925K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.419	+0.047%	$127K	$32K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	93.344	−0.033%	$90K	$361K	20x	as long as short
Popdex HYPEUSDT	0.0000%	1h	93.319	−0.060%	$58K	$1.2M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.354	−0.023%	$23K	$331K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.342	−0.035%	$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	+0.0015%	4h	93.331	−0.048%	$8.9M	$36.0M	300x	as long as short
Derive HYPE-PERPshort	+0.0016%	1h	93.265	−0.118%	$16.3M	$7.1M	10x
Bybit HYPEUSDT	+0.0029%	8h	93.310	−0.070%	$324.0M	$286.9M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.374	−0.001%	$214K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0036%	4h	93.311	−0.069%	$171K	$519K	20x	as long as short
Gate HYPE_USDT	+0.0058%	4h	93.317	−0.062%	$43.7M	$57.8M	75x	as long as short
Bullet HYPE-USD	+0.0069%	1h	93.299	−0.081%	$112K	$578K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.373	−0.002%	$18.5M	$58.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.354	−0.022%	$3.1M	$12.1M	20x	as long as short
MEXC HYPE_USDT	+0.0096%	4h	93.323	−0.056%	$90.3M	$81.6M	100x	as long as short
Binance HYPEUSDT	+0.0097%	4h	93.317	−0.062%	$383.5M	$892.3M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.404	+0.031%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.390	+0.016%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.315	−0.064%	$5.9M	$44.0M	10x	as long as short
Hyperliquid HYPElong	+0.0100%	1h	93.375	long leg	$2.03B	$672.3M	10x
Pacifica HYPE	+0.0100%	1h	93.402	+0.029%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.302	−0.078%	$114.0M	$314.0M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.390	+0.016%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.339	−0.039%	$47.2M	$18.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.304	−0.076%	$226.2M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.311	−0.069%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.400	+0.027%	$7.9M	$11.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.236	−0.149%	$28.9M	$50.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.228	−0.157%	$7.5M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.375	0.000%	$413K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.385	+0.011%	$675K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.379	+0.004%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.289	−0.092%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.429	+0.058%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.321	−0.058%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.315	−0.064%	$12.7M	$2.6M	50x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.368	−0.008%	—	$454K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.297	−0.083%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.277	−0.105%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0104%	4h	93.291	−0.090%	$5.1M	$29.5M	30x	as long as short
Kalshi KXHYPEPERP	+0.0107%	8h	93.452	+0.082%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.350	−0.027%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.340	−0.037%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.298	−0.082%	$78K	$158K	15x	as long as short
HTX HYPE-USDT	+0.0269%	4h	93.471	+0.103%	$1.5M	$7.7M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.455	+0.086%	$2.8M	$6.8M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0296%	1h	93.401	+0.028%	$7.4M	$4.6M	50x	as long as short
BloFin HYPE-USDT	+0.0337%	4h	93.319	−0.060%	$16.9M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0159%	1h	93.329	−0.049%	$1.5M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.434	+0.064%	$20.8M	$28.8M	50x	as long as short