Funding you earn now, next payment 20:36 UTC+0.0252%/8h= +27.6% APRpaid last 24h +0.027%
Price spread now: Deribit against Perpl+0.167%51s7-day average +0.040% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.098%+$10 on $10k
+Price spread, last 3 days (all we have)−0.223%−$22 · spread now +0.167%, 7d avg +0.040%
=Together, before fees−0.125%+ Points / potential airdropPerpl: Active · farm board−$12 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Deribit is 0.127% dearer against Perpl than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.040%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.098% in total (about 5.1% 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.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Perpl HYPE | 93.443 | 0 | get 0.0000% / 43m | 34m 27s | $23K | $343K | 10x |
| Short | Deribit HYPE_USDC-PERPETUAL | 93.599 | 0.0252 | get 0.0032% / 1h | 47m 27s | $7.4M | $4.6M | 50x |
Perpl HYPE
Deribit HYPE_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Perpl. 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
- $52.92
- Price spread: +0.167% → +0.040%
- $12.68
- Slippage, 4 orders
- no order book: not counted
- Fee Perpl: 6.9 bp × 2 orders
- −$13.8
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $44.8
- Costs to cover
- 0.208%
- Break-even
- 1.1 days
Slippage unknown: Perpl: no order-book sample; Deribit: live order book, 2 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 Perpl no order-book sample | — | — | — | — | — |
| Sell Deribit live order book, 2 min ago | 0.21 bp | 7.6 bp −$8 | 13.8 bp −$138 | doesn't fit | doesn't fit |
Perpl: 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 | −0.1256% | 1h | 93.344 | −0.106% | $197K | $233K | 7x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0168% | 1h | 93.330 | −0.121% | $700K | $944K | 10x | as long as short |
| Aftermath Perps HYPEUSD | −0.0165% | 1h | 93.409 | −0.037% | $22K | $22K | 10x | as long as short |
| 01 Exchange HYPEUSD | −0.0080% | 1h | 93.449 | +0.006% | $89K | $344K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.472 | +0.031% | $3K | $331 | 25x | as long as short |
| Bullet HYPE-USD | −0.0001% | 1h | 93.419 | −0.027% | $112K | $583K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.504 | +0.064% | $127K | $33K | 5x | as long as short |
| Kalshi KXHYPEPERP | 0.0000% | 8h | 93.559 | +0.124% | $1.9M | $5.4M | 2.3x | as long as short |
| Perpl HYPElong | 0.0000% | 43m | 93.443 | long leg | $23K | $343K | 10x | |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0001% | 1h | 93.513 | +0.074% | $19K | — | 150x | as long as short |
Hibachi HYPE/USDT-P
Ondo Perps HYPE-USD.P
Aftermath Perps HYPEUSD
01 Exchange HYPEUSD
Hotstuff HYPE-PERP
Bullet HYPE-USD
dYdX HYPE-USD
Kalshi KXHYPEPERP
gTrade (Gains Network) HYPE/USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster HYPEUSDT | +0.0014% | 4h | 93.487 | +0.047% | $8.9M | $36.2M | 300x | as long as short |
| Derive HYPE-PERP | +0.0017% | 1h | 93.431 | −0.013% | $16.4M | $7.1M | 10x | as long as short |
| Gate HYPE_USDT | +0.0028% | 4h | 93.445 | +0.002% | $44.2M | $56.3M | 75x | as long as short |
| Bybit HYPEUSDT | +0.0041% | 8h | 93.420 | −0.025% | $325.7M | $287.9M | 75x | as long as short |
| Phoenix HYPE | +0.0068% | 1h | 93.408 | −0.038% | $216K | $1.2M | 10x | as long as short |
| Orderly PERP_HYPE_USDC | +0.0076% | 4h | 93.500 | +0.061% | $180K | $536K | 20x | as long as short |
| ApeX Omni HYPEUSDT | +0.0092% | 1h | 93.318 | −0.134% | $405K | $1.1M | 50x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.492 | +0.053% | $18.5M | $59.3M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.464 | +0.022% | $3.1M | $12.3M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.430 | −0.014% | $56K | $1.2M | 50x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.480 | +0.039% | $40K | $1.7M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.418 | −0.027% | $6.0M | $44.3M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.491 | +0.051% | $2.04B | $669.1M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.462 | +0.020% | $10.0M | $14.5M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.433 | −0.012% | $385.9M | $889.3M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.416 | −0.029% | $114.8M | $315.5M | 50x | as long as short |
| Arcus HYPE-USD | +0.0100% | 1h | 93.421 | −0.024% | $1.2M | $4.0M | 10x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.335 | −0.115% | $204K | $12K | 10x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.422 | −0.023% | $93.1M | $81.9M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.433 | −0.011% | $46.3M | $19.4M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.433 | −0.011% | $226.9M | $102.0M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.430 | −0.014% | — | $54.3M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.523 | +0.085% | $7.9M | $11.7M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.295 | −0.158% | $28.8M | $49.8M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.407 | −0.039% | $7.5M | $46.2M | 10x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.504 | +0.065% | $676K | $2.4M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.486 | +0.045% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.471 | +0.030% | $494K | $2.6M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.493 | +0.053% | $76K | $169K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.529 | +0.092% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.495 | +0.055% | $2.0M | $2.0M | 10x | as long as short |
| Phemex HYPEUSDT | +0.0100% | 8h | 93.488 | +0.048% | $12.7M | $2.6M | 50x | as long as short |
| Paradex HYPE-USD-PERP | +0.0100% | 8h | 93.473 | +0.032% | $339K | $171K | 20x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.427 | −0.018% | $18.4M | $41.1M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.515 | +0.077% | $398K | $318K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0108% | 4h | 93.395 | −0.052% | $5.1M | $29.5M | 30x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0208% | 1h | 93.550 | +0.114% | $4.9M | $5.7M | 50x | as long as short |
| Reya HYPERUSDPERP | +0.0245% | 1h | 93.426 | −0.018% | $77K | $157K | 15x | as long as short |
| Deribit HYPE_USDC-PERPETUALshort | +0.0252% | 1h | 93.599 | +0.167% | $7.4M | $4.6M | 50x | |
| Injective HYPE/USDC PERP | +0.0285% | 1h | 93.290 | −0.164% | $30K | $231K | 12x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0339% / S −0.0165% | 1h | 93.512 | +0.074% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.376 | −0.072% | $17.1M | $12.5M | 75x | as long as short |
| HTX HYPE-USDT | +0.0398% | 4h | 93.650 | +0.221% | $1.5M | $7.6M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0467% | 1h | 93.512 | +0.074% | $2.7M | $6.8M | 20x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0573% | 1h | 93.603 | +0.171% | $19.2M | $25.9M | 50x | as long as short |
Aster HYPEUSDT
Derive HYPE-PERP
Gate HYPE_USDT
Bybit HYPEUSDT
Phoenix HYPE
Orderly PERP_HYPE_USDC
ApeX Omni HYPEUSDT
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Arcus HYPE-USD
Bulk HYPE-USD
MEXC HYPE_USDT
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Phemex HYPEUSDT
Paradex HYPE-USD-PERP
Extended HYPE-USD
Aevo HYPE-PERP
edgeX HYPEUSDC
Coinbase International HYPE-PERP-INTX
Reya HYPERUSDPERP
Injective HYPE/USDC PERP
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
HTX HYPE-USDT
RISEx HYPE/USDC
Kraken Futures PF_HYPEUSD