HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0181%/8h= +19.8% APRnext payment +$0.23 per $10,000 · paid last 24h +0.034%

Price spread now: Deribit against Popdex+0.092%7-day average +0.041% · 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−$15as in the Price arb table

costs, in and out, $10k−$200.201% of the position

Long on Popdex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.005%+$1 on $10k

Price spread, last 4 days (all we have)−0.184%−$18 · spread now +0.092%, 7d avg +0.041%

Together, before fees−0.179%−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Deribit is 0.050% dearer against Popdex than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex HYPEUSDT	92.882	0.0096	pay 0.0012% / 1h	59m 26s	$69K	$1.1M	50x
Short	Deribit HYPE_USDC-PERPETUAL	92.967	0.0277	get 0.0035% / 1h	59m 26s	$7.5M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Popdex. 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 PopdexbpFee DeribitbpOrdersPrice spread, now +0.092%Rate

Funding earned: $38.01
Price spread: +0.092% → +0.041%: $5.02
Slippage, 4 orders: −$6.67
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $22.95
Costs to cover: 0.201%
Break-even: 2.8 days

Slippage from Popdex: live order book, 5 min ago; Deribit: live order book, 5 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 Popdex live order book, 5 min ago	0.05 bp	3.3 bp −$3	3.8 bp −$38	16.3 bp −$1,628	doesn't fit
Sell Deribit live order book, 5 min ago	0.91 bp	8.5 bp −$8	13.2 bp −$132	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
Arcus HYPE-USD	−0.0948%	1h	92.862	−0.022%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0440%	1h	92.759	−0.133%	$193K	$227K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0286%	1h	92.840	−0.045%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.891	+0.010%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.860	−0.024%	$157K	$653K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.865	−0.018%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.889	+0.007%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.903	+0.023%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0007%	1h	92.856	−0.028%	$111K	$579K	20x	as long as short
Phemex HYPEUSDT	+0.0029%	8h	92.858	−0.026%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	+0.0036%	4h	92.889	+0.008%	—	$53.6M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.952	+0.075%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0044%	8h	92.860	−0.024%	$316.6M	$281.3M	75x	as long as short
Aster HYPEUSDT	+0.0070%	4h	92.895	+0.014%	$8.7M	$36.1M	300x	as long as short
Bitget HYPEUSDT	+0.0086%	4h	92.875	−0.008%	$224.8M	$98.7M	75x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	92.871	−0.012%	$4.9M	$29.6M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	92.896	+0.015%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.912	+0.032%	$16.1M	$62.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.914	+0.034%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDTlong	+0.0096%	1h	92.882	long leg	$69K	$1.1M	50x
OKX HYPE-USDT-SWAP	+0.0099%	8h	92.880	−0.002%	$113.9M	$303.8M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.880	−0.002%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.892	+0.011%	$7.5M	$45.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.920	+0.041%	$2.02B	$663.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.935	+0.057%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.896	+0.015%	$373.3M	$902.2M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	92.850	−0.034%	$698K	$1.1M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	−0.088%	$202K	$13K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	92.890	+0.009%	$44.4M	$53.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.886	+0.004%	$88.2M	$79.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.888	+0.006%	$46.1M	$18.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.880	−0.002%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.859	−0.025%	$28.5M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.903	+0.023%	$7.5M	$46.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.856	−0.028%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.890	+0.009%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.941	+0.063%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.926	+0.047%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.881	−0.001%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.843	−0.042%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.863	−0.020%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.883	+0.001%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.019	+0.147%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.883	+0.001%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.871	−0.011%	$393K	$164K	20x	as long as short
01 Exchange HYPEUSD	+0.0136%	1h	92.909	+0.029%	$87K	$362K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.960	+0.084%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.960	+0.084%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0225%	8h	92.896	+0.015%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.865	−0.019%	$79K	$131K	15x	as long as short
Deribit HYPE_USDC-PERPETUALshort	+0.0277%	1h	92.967	+0.092%	$7.5M	$4.5M	50x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.864	−0.019%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.936	+0.058%	$20.6M	$30.4M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.879	−0.003%	$16.8M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.950	+0.073%	$3.2M	$6.4M	20x	as long as short