Settings8H · net · $10k
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Funding arb · Price arb / Crypto

HYPE

All HYPE markets →
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
Hyperliquid SpotHYPE/USDC · Hyperliquid
79.716spotno funding——$93.2M1xBuy Hyperliquid Spot4% off
SHORT
HyperliquidHYPE
79.789+0.0271get 0.0034% / 1h46m 54s$1.79B$738.9M10xShort Hyperliquid4% off
Price gap+0.091%
Funding gap+0.0271% /8h

Both sides work: funding pays +$8 a day on $10k, and the gap is 0.043% above its 7d average: +$4 more if it goes back.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding+$46+0.0271% /8h now · paid +0.462% over the last 7D
Price+$4spread +0.091% now, avg +0.048% → +0.043% if it goes back
Costs−$290.288% of $10k · taker + slippage, in and out
Result+$22+0.22%+ Points / potential airdropHyperliquid: Season 2 · farm board

Price and funding

1h · history
PRICE SPREAD · 7D
Now+0.091%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

HYPE on 54 exchanges

lowest funding first

Before you open

5 ok · 0 to watch
  • OK: Fits both order books7.1 / 4.6 bp
    Entry at $10k a leg, taker fee + slippage. Closing costs about the same.
  • Note: Spot in full, margin on the short$10,000 + $1,000
    The spot leg is bought with the whole $10k; Hyperliquid runs at up to 10x. Only the short can be liquidated, when the price rises, while the spot leg's gain is not yet realised: keep about 2× the margin on Hyperliquid.
  • OK: Only the short pays funding— / 1h
    The spot leg pays no funding; Hyperliquid settles every 1h.
    Next 24h at the current rates, on $10k a leg: +$8.14Long Hyperliquid Spot: 0 payments, $0.00; short Hyperliquid: 24 payments, +$8.14.
  • OK: Entry gap works for you+0.091% vs +0.048%
    You short the dearer leg. If the gap goes back to average, the short gains.
  • Note: Spot has no open interest$1.79B OI
    Only Hyperliquid reports one; the spot book's depth is in the cost check above.
  • OK: Points on a legHyperliquid Season 2
    Volume here counts toward the points program.
  • OK: No KYC on either legHyperliquid Spot No · Hyperliquid No
    Both exchanges let you trade without ID.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned+0.0220%/8h × 21 periods+$46.15
Price spread+0.091% → +0.048% (7d avg)+$4.29
Slippage, 4 orderslive order books−$5.84
Fee Hyperliquid Spot bp × 2 orders−$14.00
Fee Hyperliquid bp × 2 orders−$9.00
Net · 7 days · $10k+$21.60
Costs to cover0.288%Break-even3.7 days
Slippage: Hyperliquid Spot: live order book, 11 min ago; Hyperliquid: live order book, 10 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGHyperliquid Spot0.067.1 bp−$78.4 bp−$8417.4 bp−$1,743doesn’t fit
SELL · SHORTHyperliquid0.134.6 bp−$55.2 bp−$528.7 bp−$87128.2 bp−$14.1K

Closing costs about the same again.

Alert

HYPE news

posts that mention HYPE, from every exchange
11-05 02:42DeriveOtherETH Options took the top spot on Derive in the last 24h $227.8M+ notional traded 🔷 ETH $106.7M (47%) 🟠 BTC $95.8M (42%) 🟢 HYPE $14.8M (6%) ⚪ Others $10.5M (5%) @DeriveXYZ on X ↗
11-04 18:52PhoenixProductTailwind Rewards are now live on Phoenix. Phoenix now pays back 10% of the funding you pay on BTC, ETH, SOL and HYPE, claimable daily in the Rewards Hub. Hold your view for less. @PhoenixTrade on X ↗
11-04 13:43ParagonOtherWe’re bringing Power Perps to Hyperliquid, starting with HYPE². If HYPE doubles, the HYPE² index quadruples. Options-like payoffs. No strikes. No expiry. Power Perps bring options flow to Hyperliquid by pooling demand for convexity in one order book. This work builds on “Power Perpetuals” by @danrobinson, @_Dave__White_, @andrewjleone and their coauthors. @tradeparagon on X ↗
11-04 00:30ParadexOtherBitcoin, Ether, Solana, HYPE, Zcash. Same expiry. The options market does not price them the same. Trade crypto options on Paradex, 0 fees: @paradex on X ↗
11-03 18:30Kraken FuturesOtherMore ways to put your HYPE to work. kHYPE lets you keep your $HYPE in Kraken custody and use it onchain. And thanks to @nadoHQ, you can now use it as collateral. Congrats to the Nado team 🤝 @HyperliquidX @krakenfx on X ↗
11-03 16:43NadoListingNew collateral & spot listing is live. You can now use $kHYPE (Kraken wrapped HYPE) as collateral to trade perps, spot and borrow on Nado. @nadoHQ on X ↗