HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0053%/8h= −5.8% APRnext payment −$0.07 per $10,000 · paid last 24h −0.050%

Price spread now: Deribit against Injective+0.181%63s7-day average −0.140% · you sell dearer than you buy

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

Long on Injective Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−2.360%−$236 on $10k

Price spread, last 3 days (all we have)−0.188%−$19 · spread now +0.181%, 7d avg −0.140%

Together, before fees−2.548%−$255 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.321% dearer against Injective than usual: you sell high and buy low (spread +0.181% now, against its 7-day average of −0.140%): +$32 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 20 days. At the pace of the last 7 days (−2.360% in total) that is about 23 hours. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective HYPE/USDC PERP	93.330	0.0285	pay 0.0036% / 1h	44m 08s	$30K	$231K	12x
Short	Deribit HYPE_USDC-PERPETUAL	93.499	0.0232	get 0.0029% / 1h	44m 08s	$7.4M	$4.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Injective. 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

Position, each leg$Hold fordaysFee InjectivebpFee DeribitbpOrdersPrice spread, now +0.181%Rate

Funding earned: −$11.06
Price spread: +0.181% → −0.140%: $32.07
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $13.99
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Injective: live order book, 45 min ago; Deribit: live order book, 5 min ago. 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 Injective live order book, 45 min ago	36.79 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 5 min ago	0.21 bp	7.6 bp −$8	13.8 bp −$138	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
Hibachi HYPE/USDT-P	−0.1240%	1h	93.370	+0.043%	$197K	$233K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0218%	1h	93.330	0.000%	$701K	$943K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0193%	1h	93.399	+0.074%	$22K	$22K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.415	+0.091%	$89K	$346K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.388	+0.062%	$3K	$331	25x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.427	+0.104%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.484	+0.165%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.394	+0.069%	$23K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.430	+0.107%	$19K	—	150x	as long as short
Aster HYPEUSDT	+0.0013%	4h	93.413	+0.089%	$8.9M	$36.0M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	+0.0016%	4h	93.427	+0.104%	$44.2M	$56.3M	75x	as long as short
Derive HYPE-PERP	+0.0017%	1h	93.355	+0.027%	$16.4M	$7.1M	10x	as long as short
Bullet HYPE-USD	+0.0030%	1h	93.411	+0.086%	$112K	$583K	20x	as long as short
Bybit HYPEUSDT	+0.0039%	8h	93.414	+0.090%	$325.4M	$287.9M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.408	+0.084%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0074%	4h	93.412	+0.088%	$180K	$536K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.460	+0.140%	$18.5M	$59.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.430	+0.107%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.390	+0.064%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.520	+0.204%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.397	+0.072%	$6.0M	$44.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.463	+0.143%	$2.04B	$669.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.391	+0.065%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.431	+0.108%	$385.9M	$888.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.423	+0.100%	$114.8M	$315.6M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.374	+0.047%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.335	+0.006%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.392	+0.066%	$93.0M	$81.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.401	+0.076%	$46.3M	$19.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.442	+0.120%	$226.9M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.413	+0.089%	—	$54.3M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.427	+0.104%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.375	+0.049%	$28.8M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.445	+0.123%	$7.5M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.456	+0.135%	$406K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.481	+0.162%	$676K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.440	+0.118%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.423	+0.100%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.402	+0.077%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.439	+0.117%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.389	+0.063%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.407	+0.083%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.411	+0.087%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.378	+0.051%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.405	+0.081%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0107%	4h	93.435	+0.112%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.500	+0.182%	$4.9M	$5.7M	50x	as long as short
Deribit HYPE_USDC-PERPETUALshort	+0.0232%	1h	93.499	+0.181%	$7.4M	$4.6M	50x
Reya HYPERUSDPERP	+0.0245%	1h	93.400	+0.075%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERPlong	+0.0285%	1h	93.330	long leg	$30K	$231K	12x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.443	+0.121%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.405	+0.080%	$17.1M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0373%	4h	93.536	+0.221%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.462	+0.141%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0573%	1h	93.491	+0.173%	$19.2M	$25.9M	50x	as long as short