HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0136%/8h= +14.9% APRnext payment +$0.17 per $10,000 · paid last 24h +0.055%

Price spread now: Deribit against Nado+0.120%46s7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.224% of the position

Long on Nado Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.029%+$3 on $10k

Price spread, last 4 days (all we have)−0.094%−$9 · spread now +0.120%, 7d avg +0.054%

Together, before fees−0.065%+ Points / potential airdropNado: Active · farm board−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Deribit is 0.065% dearer against Nado than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.054%. The two prices were read 46 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	Nado HYPE-PERP	94.545	0.0100	pay 0.0012% / 1h	0m 19s	$7.2M	$52.9M	10x
Short	Deribit HYPE_USDC-PERPETUAL	94.658	0.0236	get 0.0029% / 1h	0m 19s	$7.5M	$4.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Nado. 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 NadobpFee DeribitbpOrdersPrice spread, now +0.120%Rate

Funding earned: $28.56
Price spread: +0.120% → +0.054%: $6.51
Slippage, 4 orders: −$8.36
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $12.72
Costs to cover: 0.224%
Break-even: 3.9 days

Slippage from Nado: live order book, 4 min ago; Deribit: live order book, 4 min ago.

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 Nado live order book, 4 min ago	0.05 bp	4.7 bp −$5	7.1 bp −$71	27.7 bp −$2,773	doesn't fit
Sell Deribit live order book, 4 min ago	2.12 bp	5.7 bp −$6	11.4 bp −$114	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	−0.1488%	1h	94.543	−0.002%	$207K	$268K	7x	as long as short
Bluefin HYPE-PERP	−0.0380%	1h	94.577	+0.034%	$80K	$151K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0211%	1h	94.522	−0.024%	$22K	$20K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0204%	1h	94.510	−0.037%	$712K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0180%	1h	94.595	+0.053%	$112K	$575K	20x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	94.579	+0.036%	$88K	$363K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.572	+0.029%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.539	−0.006%	$1.0M	$3.5M	10x	as long as short
Bybit HYPEUSDT	−0.0017%	8h	94.580	+0.037%	$318.2M	$288.7M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.569	+0.025%	$147K	$686K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Derive HYPE-PERP	−0.0001%	1h	94.468	−0.081%	$16.3M	$7.3M	10x	as long as short
Lighter HYPE	0.0000%	1h	94.558	+0.014%	$16.4M	$64.9M	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.542	−0.003%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.611	+0.070%	$1.9M	$5.5M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.567	+0.023%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.562	+0.018%	$19K	$286K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.588	+0.045%	$124K	—	150x	as long as short
Bitget HYPEUSDT	+0.0014%	4h	94.595	+0.053%	$227.2M	$100.4M	75x	as long as short
Polymarket Perps HYPE-USD	+0.0033%	1h	94.646	+0.107%	$499K	$2.8M	20x	as long as short
Phemex HYPEUSDT	+0.0042%	8h	94.568	+0.024%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0046%	8h	94.585	+0.043%	$338K	$154K	20x	as long as short
SoDEX HYPE-USD	+0.0048%	1h	94.561	+0.017%	$2.1M	$1.9M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.570	+0.026%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0065%	8h	94.581	+0.038%	$118.0M	$326.0M	50x	as long as short
Vest HYPE-PERP	+0.0076%	1h	94.635	+0.095%	—	$190K	5x	as long as short
Gate HYPE_USDT	+0.0078%	4h	94.579	+0.036%	$50.7M	$57.1M	75x	as long as short
edgeX HYPEUSDC	+0.0084%	4h	94.460	−0.090%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.565	+0.021%	$3.2M	$10.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.549	+0.004%	$85K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.530	−0.016%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERPlong	+0.0100%	1h	94.545	long leg	$7.2M	$52.9M	10x
Hyperliquid HYPE	+0.0100%	1h	94.672	+0.134%	$2.08B	$688.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.579	+0.036%	$8.9M	$37.5M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.587	+0.044%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.593	+0.051%	$379.4M	$933.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.428	−0.124%	$218K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.586	+0.043%	$93.5M	$85.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.579	+0.036%	$46.9M	$18.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.576	+0.033%	—	$52.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.546	+0.001%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.532	−0.013%	$29.7M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.513	−0.034%	$7.6M	$44.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.461	−0.089%	$350K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.532	−0.014%	$695K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.652	+0.113%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.650	+0.111%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.528	−0.018%	$18.4M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.671	+0.134%	$400K	$153K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0022%	1h	94.595	+0.052%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.740	+0.206%	$31K	$340K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0222%	1h	94.597	+0.055%	$20.3M	$30.2M	50x	as long as short
Deribit HYPE_USDC-PERPETUALshort	+0.0236%	1h	94.658	+0.120%	$7.5M	$4.4M	50x
RISEx HYPE/USDC	+0.0249%	1h	94.576	+0.033%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.571	+0.027%	$83K	$121K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.490	−0.058%	$17.1M	$12.4M	75x	as long as short