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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0339%/8h= +37.1% APRpaid last 24h +0.007%
Price spread now: Deribit against Paradex+0.156%7-day average +0.024% · 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−$39as in the Price arb table
costs, in and out, $10k−$520.517% of the position
Long on ParadexShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.019%−$2 on $10k
Price spread, last 3 days (all we have)−0.203%−$20 · spread now +0.156%, 7d avg +0.024%
Together, before fees−0.222%+ Points / potential airdropParadex: Active · farm board−$22 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Deribit is 0.132% dearer against Paradex than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.024%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.019% in total (about -1.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongParadex HYPE-USD-PERP93.1070.0098pay 0.0098% / 8h1h 34m$338K$170K20x
ShortDeribit HYPE_USDC-PERPETUAL93.2520.0437get 0.0055% / 1h34m 35s$7.4M$4.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Paradex. 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

Funding earned
$71.11
Price spread: +0.156% → +0.024%
$13.18
Slippage, 4 orders
−$40.73
Fee Paradex: 2 bp × 2 orders
−$4
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$32.56
Costs to cover
0.517%
Break-even
3.8 days
Slippage from Paradex: live order book, 50 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
LegHalf-spread$10k$100k$1M$5M
Buy Paradex live order book, 50 min ago16.62 bp18.6 bp −$19145.8 bp −$1,458doesn't fitdoesn't fit
Sell Deribit live order book, 4 min ago1.55 bp7.5 bp −$812.3 bp −$123doesn't fitdoesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps HYPEUSD−0.0375%1h93.139+0.034%$22K$22K10xas long as short
Hibachi HYPE/USDT-P−0.0192%1h93.147+0.043%$197K$230K7xas long as short
Arcus HYPE-USD−0.0131%1h93.024−0.089%$1.2M$4.0M10xas long as short
Ondo Perps HYPE-USD.P−0.0111%1h93.070−0.040%$698K$923K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.118+0.012%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0016%1h93.101−0.007%$90K$362K20xas long as short
Popdex HYPEUSDT−0.0008%1h93.106−0.001%$57K$1.2M50xas long as short
dYdX HYPE-USD0.0000%1h93.124+0.018%$127K$32K5xas long as short
Perpl HYPE0.0000%43m93.124+0.019%$23K$331K10xas long as short
Aster HYPEUSDT+0.0001%4h93.109+0.002%$8.8M$36.0M300xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.175+0.073%$20K—150xas long as short
Bybit HYPEUSDT+0.0026%8h93.081−0.028%$323.0M$286.8M75xas long as short
Orderly PERP_HYPE_USDC+0.0031%4h93.136+0.031%$172K$520K20xas long as short
Bullet HYPE-USD+0.0031%1h93.119+0.013%$111K$579K20xas long as short
Derive HYPE-PERP+0.0031%1h93.113+0.006%$16.3M$7.1M10xas long as short
Phoenix HYPE+0.0034%1h93.106−0.001%$214K$1.2M10xas long as short
Gate HYPE_USDT+0.0038%4h93.095−0.013%$43.9M$58.0M75xas long as short
Binance HYPEUSDT+0.0080%4h93.101−0.006%$382.5M$893.5M75xas long as short
MEXC HYPE_USDT+0.0082%4h93.116+0.010%$89.9M$81.8M100xas long as short
Lighter HYPE+0.0096%1h93.173+0.071%$18.5M$58.8M20xas long as short
Lighter RH HYPE+0.0096%1h93.138+0.033%$3.1M$12.1M20xas long as short
Paradex HYPE-USD-PERPlong+0.0098%8h93.107long leg$338K$170K20x
Katana Perps HYPE-USD+0.0100%8h93.050−0.061%$40K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.106−0.002%$5.9M$44.0M10xas long as short
Hyperliquid HYPE+0.0100%1h93.125+0.019%$2.02B$670.4M10xas long as short
Pacifica HYPE+0.0100%1h93.117+0.011%$10.0M$14.3M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.073−0.037%$113.8M$313.5M50xas long as short
Bulk HYPE-USD+0.0100%1h93.390+0.304%$204K$10K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.126+0.020%$47.2M$18.9M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.085−0.024%$225.6M$102.9M75xas long as short
BingX HYPE-USDT+0.0100%4h93.087−0.022%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.173+0.071%$7.8M$11.2M20xas long as short
Variational Omni HYPE+0.0100%8h93.034−0.078%$29.0M$50.5M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.137+0.032%$7.5M$46.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.246+0.149%$412K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.047−0.065%$673K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.145+0.041%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.147+0.043%$492K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.162+0.059%$75K$168K20xas long as short
SunX HYPE-USDT+0.0100%4h93.174+0.072%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.135+0.030%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.160+0.057%$12.7M$2.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.073−0.037%$18.2M$42.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.134+0.029%$396K$318K20xas long as short
Kalshi KXHYPEPERP+0.0105%8h93.240+0.143%$1.9M$5.3M2.3xas long as short
edgeX HYPEUSDC+0.0110%4h93.120+0.014%$5.1M$29.6M30xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.150+0.046%$4.9M$5.7M50xas long as short
Injective HYPE/USDC PERP+0.0239%1h92.970−0.147%$30K$338K12xas long as short
Reya HYPERUSDPERP+0.0247%1h93.141+0.037%$78K$158K15xas long as short
HTX HYPE-USDT+0.0256%4h93.300+0.207%$1.5M$7.7M75xas long as short
RISEx HYPE/USDC+0.0280%1h93.103−0.004%$2.8M$6.8M20xas long as short
BloFin HYPE-USDT+0.0323%4h93.167+0.064%$16.9M$12.5M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0158%1h93.168+0.065%$1.5M—100xas long as short
Deribit HYPE_USDC-PERPETUALshort+0.0437%1h93.252+0.156%$7.4M$4.6M50x
Kraken Futures PF_HYPEUSD+0.0466%1h93.257+0.161%$20.8M$28.9M50xas long as short