HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0522%/8h= +57.2% APRnext payment +$0.65 per $10,000 · paid last 24h +0.019%

Price spread now: Deribit against StandX+0.343%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on StandX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 3 days (all we have)−0.335%−$33 · spread now +0.343%, 7d avg +0.045%

Together, before fees−0.378%+ Points / potential airdropStandX: Active · farm board−$38 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Deribit is 0.298% dearer against StandX than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of +0.045%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.044% in total (about -2.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.65 per $10,000. 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	StandX HYPE-USD	93.843	0.0100	pay 0.0013% / 1h	14m 39s	$670K	$2.6M	20x
Short	Deribit HYPE_USDC-PERPETUAL	94.165	0.0622	get 0.0078% / 1h	14m 39s	$7.5M	$4.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against StandX. 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 StandXbpFee DeribitbpOrdersPrice spread, now +0.343%Rate

Funding earned: $109.62
Price spread: +0.343% → +0.045%: $29.83
Slippage, 4 orders: −$15.81
Fee StandX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $108.64
Costs to cover: 0.308%
Break-even: 0.1 days

Slippage from StandX: live order book, 4 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy StandX live order book, 4 min ago	2.30 bp	6.4 bp −$6	8.6 bp −$86	14.5 bp −$1,447	doesn't fit
Sell Deribit live order book, 4 min ago	1.76 bp	9.8 bp −$10	14.4 bp −$144	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
Hibachi HYPE/USDT-P	−0.1256%	1h	93.810	−0.035%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.958	+0.123%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0197%	1h	93.894	+0.054%	$22K	$21K	10x	as long as short
Phemex HYPEUSDT	−0.0123%	8h	94.039	+0.209%	$12.8M	$2.6M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0116%	1h	94.010	+0.178%	$708K	$960K	10x	as long as short
dYdX HYPE-USD	−0.0099%	1h	94.086	+0.259%	$129K	$31K	5x	as long as short
01 Exchange HYPEUSD	−0.0088%	1h	94.079	+0.251%	$85K	$361K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.066	+0.238%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0075%	1h	94.032	+0.201%	$113K	$581K	20x	as long as short
Gate HYPE_USDT	−0.0034%	4h	94.056	+0.227%	$44.5M	$60.2M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0027%	4h	94.014	+0.182%	$160K	$646K	20x	as long as short
Bybit HYPEUSDT	−0.0011%	8h	94.054	+0.225%	$323.7M	$280.9M	75x	as long as short
Perpl HYPE	0.0000%	43m	94.034	+0.204%	$23K	$326K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.055	+0.226%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0008%	4h	94.080	+0.253%	$8.9M	$36.1M	300x	as long as short
Derive HYPE-PERP	+0.0017%	1h	93.989	+0.156%	$16.4M	$7.3M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.678	−0.176%	$218K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0044%	4h	94.077	+0.249%	$88.7M	$83.2M	100x	as long as short
Binance HYPEUSDT	+0.0051%	4h	94.086	+0.259%	$383.8M	$895.2M	75x	as long as short
edgeX HYPEUSDC	+0.0062%	4h	93.602	−0.256%	$5.1M	$30.1M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0075%	8h	94.066	+0.238%	$116.3M	$316.6M	50x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	94.049	+0.220%	$400K	$180K	20x	as long as short
Lighter HYPE	+0.0096%	1h	94.101	+0.275%	$19.1M	$60.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.085	+0.258%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.072	+0.244%	$65K	$1.2M	50x	as long as short
Bluefin HYPE-PERP	+0.0096%	1h	94.042	+0.212%	$76K	$171K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.112	+0.286%	$342K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.080	+0.253%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.993	+0.160%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.112	+0.287%	$2.05B	$676.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.103	+0.277%	$10.2M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.528	−0.335%	$204K	$12K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.071	+0.243%	$46.7M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.061	+0.232%	$227.9M	$101.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.061	+0.232%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.064	+0.235%	$7.7M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.810	−0.035%	$31.4M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.614	−0.244%	$7.5M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.656	−0.199%	$339K	$1.1M	50x	as long as short
StandX HYPE-USDlong	+0.0100%	1h	93.843	long leg	$670K	$2.6M	20x
Vest HYPE-PERP	+0.0100%	1h	94.020	+0.189%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.076	+0.248%	$476K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.142	+0.319%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.076	+0.248%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.036	+0.205%	$18.4M	$45.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.060	+0.231%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0181%	4h	94.072	+0.244%	$17.1M	$12.2M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.689%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.110	+0.285%	$2.7M	$6.8M	20x	as long as short
Kalshi KXHYPEPERP	+0.0227%	8h	94.094	+0.267%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0252%	1h	94.045	+0.216%	$79K	$143K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0335% / S −0.0156%	1h	94.060	+0.231%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0379%	4h	94.200	+0.380%	$1.5M	$6.0M	75x	as long as short
Deribit HYPE_USDC-PERPETUALshort	+0.0622%	1h	94.165	+0.343%	$7.5M	$4.6M	50x
Kraken Futures PF_HYPEUSD	+0.0671%	1h	94.160	+0.338%	$21.0M	$29.8M	50x	as long as short