HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0098%/8h= −10.7% APRnext payment −$0.12 per $10,000 · paid last 24h −0.015%

Price spread now: Derive against Pacifica−0.105%7-day average −0.050% · you buy dearer than you sell

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

Long on Pacifica Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

Price spread, last 3 days (all we have)+0.061%+$6 · spread now −0.105%, 7d avg −0.050%

Together, before fees+0.134%+ Points / potential airdropPacifica: Active · farm board+$13 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 0.055% cheaper against Pacifica than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.050%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.073%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica HYPE	93.985	0.0100	pay 0.0013% / 1h	35m 19s	$10.1M	$14.5M	20x
Short	Derive HYPE-PERP	93.886	0.0002	get 0.0000% / 1h	35m 19s	$16.4M	$7.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Pacifica. 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 PacificabpFee DerivebpOrdersPrice spread, now −0.105%Rate

Funding earned: −$20.49
Price spread: −0.105% → −0.050%: −$5.54
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Derive: 3 bp × 2 orders: −$6
Net: −$40.03
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 4 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 Pacifica live order book, 4 min ago	0.37 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
Hibachi HYPE/USDT-P	−0.0736%	1h	93.825	−0.170%	$199K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0389%	1h	94.077	+0.098%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.867	−0.126%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.966	−0.020%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0034%	1h	94.040	+0.059%	$704K	$909K	10x	as long as short
01 Exchange HYPEUSD	−0.0008%	1h	93.958	−0.029%	$87K	$366K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.037	+0.055%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.974	−0.012%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.992	+0.007%	$26K	—	150x	as long as short
Derive HYPE-PERPshort	+0.0002%	1h	93.886	−0.105%	$16.4M	$7.1M	10x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	+0.0006%	4h	93.964	−0.022%	$164K	$579K	20x	as long as short
Phoenix HYPE	+0.0009%	1h	94.133	+0.157%	$215K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	93.940	−0.048%	$323.4M	$282.4M	75x	as long as short
Aster HYPEUSDT	+0.0031%	4h	93.950	−0.037%	$8.9M	$35.9M	300x	as long as short
Phemex HYPEUSDT	+0.0062%	8h	93.961	−0.026%	$12.8M	$2.6M	50x	as long as short
Binance HYPEUSDT	+0.0066%	4h	93.966	−0.020%	$384.3M	$891.5M	75x	as long as short
MEXC HYPE_USDT	+0.0068%	4h	93.954	−0.033%	$87.9M	$81.4M	100x	as long as short
Gate HYPE_USDT	+0.0078%	4h	93.950	−0.037%	$44.4M	$58.8M	75x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	94.027	+0.044%	$5.1M	$29.8M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.020	+0.037%	$18.9M	$59.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.995	+0.011%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.962	−0.024%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.959	−0.028%	$400K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.966	−0.021%	$341K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.000	+0.016%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.975	−0.010%	$5.7M	$44.3M	10x	as long as short
Pacifica HYPElong	+0.0100%	1h	93.985	long leg	$10.1M	$14.5M	20x
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.965	−0.021%	$115.9M	$319.8M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.994	+0.010%	$47.3M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.969	−0.017%	$227.6M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.944	−0.044%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.000	+0.016%	$7.9M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.974	−0.011%	$31.3M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.053	+0.072%	$7.6M	$45.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.014	+0.031%	$339K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.028	+0.046%	$680K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.998	+0.013%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.969	−0.017%	$491K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.944	−0.043%	$112K	$578K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.937	−0.051%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.988	+0.003%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.956	−0.031%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	+0.144%	$205K	$7K	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.452%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.926	−0.063%	$18.4M	$42.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0135%	8h	94.028	+0.046%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.040	+0.059%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0222%	4h	94.142	+0.167%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.939	−0.049%	$77K	$142K	15x	as long as short
BloFin HYPE-USDT	+0.0264%	4h	93.962	−0.024%	$17.0M	$12.6M	75x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	94.015	+0.032%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0163%	1h	93.979	−0.007%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0346%	1h	94.052	+0.071%	$7.4M	$4.6M	50x	as long as short
Hyperliquid HYPE	+0.0386%	1h	94.046	+0.065%	$2.05B	$668.3M	10x	as long as short
Kraken Futures PF_HYPEUSD	+0.0577%	1h	94.069	+0.090%	$21.0M	$29.3M	50x	as long as short