HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0256%/8h= −28.1% APRnext payment −$0.32 per $10,000 · paid last 24h −0.084%

Price spread now: Derive against RISEx−0.097%7-day average −0.053% · you buy dearer than you sell

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

Long on RISEx Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.177%−$18 on $10k

Price spread, last 4 days (all we have)+0.067%+$7 · spread now −0.097%, 7d avg −0.053%

Together, before fees−0.110%−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Derive is 0.044% cheaper against RISEx than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.053%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx HYPE/USDC	94.486	0.0249	pay 0.0031% / 1h	41m 46s	$3.2M	$6.4M	20x
Short	Derive HYPE-PERP	94.394	−0.0008	pay 0.0001% / 1h	41m 46s	$16.5M	$7.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against RISEx. 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 RISExbpFee DerivebpOrdersPrice spread, now −0.097%Rate

Funding earned: −$53.81
Price spread: −0.097% → −0.053%: −$4.38
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Derive: 3 bp × 2 orders: −$6
Net: −$70.18
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 2 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 RISEx live order book, 2 min ago	0.74 bp	3.7 bp −$4	5.5 bp −$55	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	−0.1440%	1h	94.200	−0.303%	$201K	$250K	7x	as long as short
Bluefin HYPE-PERP	−0.0359%	1h	94.428	−0.061%	$80K	$154K	20x	as long as short
Bullet HYPE-USD	−0.0155%	1h	94.458	−0.029%	$112K	$576K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0142%	1h	94.370	−0.122%	$712K	$1.2M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0132%	1h	94.475	−0.011%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	94.467	−0.020%	$87K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.436	−0.052%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.442	−0.046%	$1.0M	$3.6M	10x	as long as short
Bybit HYPEUSDT	−0.0012%	8h	94.410	−0.080%	$317.5M	$289.3M	75x	as long as short
Derive HYPE-PERPshort	−0.0008%	1h	94.394	−0.097%	$16.5M	$7.5M	10x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	94.413	−0.077%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.531	+0.048%	$1.9M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.489	+0.004%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.436	−0.053%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.466	−0.020%	$123K	—	150x	as long as short
Orderly PERP_HYPE_USDC	+0.0002%	4h	94.421	−0.068%	$146K	$685K	20x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	94.404	−0.086%	$226.9M	$99.7M	75x	as long as short
Phemex HYPEUSDT	+0.0042%	8h	94.418	−0.071%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0058%	8h	94.479	−0.007%	$338K	$156K	20x	as long as short
Lighter HYPE	+0.0064%	1h	94.402	−0.089%	$16.3M	$64.0M	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.460	−0.027%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0083%	8h	94.425	−0.064%	$117.8M	$324.9M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0089%	1h	94.521	+0.038%	$7.4M	$4.3M	50x	as long as short
Polymarket Perps HYPE-USD	+0.0093%	1h	94.486	+0.001%	$496K	$2.8M	20x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	94.499	+0.014%	$5.0M	$30.8M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.405	−0.085%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.449	−0.039%	$81K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.470	−0.016%	$31K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.451	−0.036%	$7.3M	$52.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.548	+0.066%	$2.08B	$690.5M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.415	−0.074%	$8.8M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.492	+0.007%	$10.2M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.401	−0.090%	$378.3M	$934.1M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.332	−0.163%	$218K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.431	−0.058%	$49.7M	$56.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.436	−0.052%	$90.5M	$82.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.440	−0.048%	$46.7M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.428	−0.061%	—	$53.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.428	−0.061%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.467	−0.020%	$29.4M	$54.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.461	−0.026%	$7.6M	$45.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.450	−0.038%	$369K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.471	−0.015%	$683K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.534	+0.051%	—	$243K	5x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.496	+0.011%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.440	−0.048%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.597	+0.118%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.406	−0.084%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.457	−0.031%	$399K	$159K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0021%	1h	94.496	+0.011%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.740	+0.269%	$31K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.504	+0.019%	$20.3M	$30.2M	50x	as long as short
RISEx HYPE/USDClong	+0.0249%	1h	94.486	long leg	$3.2M	$6.4M	20x
Reya HYPERUSDPERP	+0.0272%	1h	94.447	−0.040%	$84K	$124K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.460	−0.027%	$17.1M	$12.4M	75x	as long as short