Funding you earn now, next payment 03:00 UTC−0.0436%/8h= −47.8% APRnext payment −$0.55 per $10,000 · paid last 24h −0.076%
Price spread now: Derive against Injective−0.458%7-day average −0.203% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−2.260%−$226 on $10k
+Price spread, last 4 days (all we have)+0.284%+$28 · spread now −0.458%, 7d avg −0.203%
=Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Derive is 0.254% cheaper against Injective than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.203%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective HYPE/USDC PERP | 93.730 | 0.0519 | pay 0.0065% / 1h | 16m 52s | $30K | $339K | 12x |
| Short | Derive HYPE-PERP | 93.301 | 0.0082 | get 0.0010% / 1h | 16m 52s | $16.2M | $7.5M | 10x |
Injective HYPE/USDC PERP
Derive HYPE-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive against Injective. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$91.6
- Price spread: −0.458% → −0.203%
- −$25.42
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$123.05
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Injective: live order book, 47 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 Injective live order book, 47 min ago | 44.26 bp | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi HYPE/USDT-P | −0.1072% | 1h | 93.263 | −0.498% | $197K | $227K | 7x | as long as short |
| Arcus HYPE-USD | −0.0899% | 1h | 93.212 | −0.553% | $1.2M | $3.8M | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0131% | 1h | 93.270 | −0.491% | $699K | $1.0M | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.319 | −0.438% | $3K | $331 | 25x | as long as short |
| Aftermath Perps HYPEUSD | −0.0064% | 1h | 93.368 | −0.387% | $22K | $21K | 10x | as long as short |
| 01 Exchange HYPEUSD | −0.0056% | 1h | 93.336 | −0.420% | $85K | $343K | 20x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0047% | 4h | 93.301 | −0.458% | $154K | $652K | 20x | as long as short |
| Phemex HYPEUSDT | −0.0024% | 8h | 93.361 | −0.394% | $12.6M | $2.7M | 50x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.320 | −0.437% | $128K | $31K | 5x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.348 | −0.408% | $23K | $319K | 10x | as long as short |
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Ondo Perps HYPE-USD.P
Hotstuff HYPE-PERP
Aftermath Perps HYPEUSD
01 Exchange HYPEUSD
Orderly PERP_HYPE_USDC
Phemex HYPEUSDT
dYdX HYPE-USD
Perpl HYPEShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0002% | 1h | 93.337 | −0.420% | $63K | — | 150x | as long as short |
| Bullet HYPE-USD | +0.0017% | 1h | 93.342 | −0.414% | $112K | $578K | 20x | as long as short |
| Aster HYPEUSDT | +0.0026% | 4h | 93.405 | −0.347% | $8.8M | $35.7M | 300x | as long as short |
| Phoenix HYPE | +0.0026% | 1h | 93.367 | −0.387% | $213K | $1.2M | 10x | as long as short |
| BingX HYPE-USDT | +0.0034% | 4h | 93.358 | −0.397% | — | $52.9M | — | as long as short |
| Bybit HYPEUSDT | +0.0042% | 8h | 93.360 | −0.395% | $321.5M | $277.2M | 75x | as long as short |
| Gate HYPE_USDT | +0.0046% | 4h | 93.364 | −0.390% | $44.6M | $55.3M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0076% | 8h | 93.358 | −0.397% | $114.0M | $300.7M | 50x | as long as short |
| Derive HYPE-PERPshort | +0.0082% | 1h | 93.301 | −0.458% | $16.2M | $7.5M | 10x | |
| Lighter HYPE | +0.0096% | 1h | 93.397 | −0.355% | $16.3M | $62.0M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.388 | −0.365% | $3.1M | $11.6M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.303 | −0.456% | $70K | $1.2M | 50x | as long as short |
| Paradex HYPE-USD-PERP | +0.0097% | 8h | 93.359 | −0.396% | $339K | $162K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.340 | −0.416% | $12K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.316 | −0.441% | $5.8M | $43.1M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.470 | −0.277% | $2.04B | $653.9M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.356 | −0.399% | $10.0M | $14.8M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.381 | −0.372% | $378.9M | $877.5M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.380 | −0.373% | $89.4M | $81.0M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.402 | −0.350% | $45.9M | $18.2M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.387 | −0.366% | $225.8M | $96.4M | 75x | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.388 | −0.365% | $7.4M | $10.3M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.358 | −0.397% | $31.1M | $53.7M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.354 | −0.402% | $7.5M | $45.8M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.412 | −0.339% | $339K | $997K | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.363 | −0.392% | $666K | $2.7M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.368 | −0.387% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.363 | −0.392% | $475K | $2.6M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.299 | −0.460% | $79K | $168K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.353 | −0.402% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.359 | −0.396% | $2.0M | $1.9M | 10x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.217 | −0.547% | $203K | $10K | 10x | as long as short |
| edgeX HYPEUSDC | +0.0102% | 4h | 93.298 | −0.460% | $5.0M | $29.1M | 30x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.340 | −0.416% | $18.4M | $43.7M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.323 | −0.434% | $397K | $162K | 20x | as long as short |
| HTX HYPE-USDT | +0.0154% | 4h | 93.464 | −0.284% | $1.4M | $6.0M | 75x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0176% | 1h | 93.390 | −0.363% | $4.8M | $5.6M | 50x | as long as short |
| Reya HYPERUSDPERP | +0.0259% | 1h | 93.291 | −0.468% | $79K | $140K | 15x | as long as short |
| Kalshi KXHYPEPERP | +0.0273% | 8h | 93.378 | −0.376% | $1.9M | $5.1M | 2.3x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0331% / S −0.0156% | 1h | 93.338 | −0.419% | $1.4M | — | 100x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0339% | 1h | 93.430 | −0.320% | $7.4M | $4.4M | 50x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.320 | −0.437% | $17.0M | $11.5M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0510% | 1h | 93.401 | −0.351% | $3.2M | $6.3M | 20x | as long as short |
| Injective HYPE/USDC PERPlong | +0.0519% | 1h | 93.730 | long leg | $30K | $339K | 12x | |
| Kraken Futures PF_HYPEUSD | +0.0685% | 1h | 93.426 | −0.325% | $20.7M | $29.8M | 50x | as long as short |
gTrade (Gains Network) HYPE/USD
Bullet HYPE-USD
Aster HYPEUSDT
Phoenix HYPE
BingX HYPE-USDT
Bybit HYPEUSDT
Gate HYPE_USDT
OKX HYPE-USDT-SWAP
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Binance HYPEUSDT
MEXC HYPE_USDT
KuCoin HYPEUSDTM
Bitget HYPEUSDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Bulk HYPE-USD
edgeX HYPEUSDC
Extended HYPE-USD
Aevo HYPE-PERP
HTX HYPE-USDT
Coinbase International HYPE-PERP-INTX
Reya HYPERUSDPERP
Kalshi KXHYPEPERP
GMX HYPE/USD [WBTC.b-USDC]
Deribit HYPE_USDC-PERPETUAL
BloFin HYPE-USDT
RISEx HYPE/USDC
Kraken Futures PF_HYPEUSD