HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0083%/8h= −9.1% APRnext payment −$0.10 per $10,000 · paid last 24h −0.012%

Price spread now: Derive against StandX−0.115%7-day average −0.027% · you buy dearer than you sell

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

Long on StandX Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 3 days (all we have)−0.017%−$2 · spread now −0.115%, 7d avg −0.027%

Together, before fees−0.042%+ Points / potential airdropStandX: Active · farm board−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Derive is 0.088% cheaper against StandX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.027%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX HYPE-USD	93.504	0.0100	pay 0.0013% / 1h	45m 52s	$676K	$2.4M	20x
Short	Derive HYPE-PERP	93.397	0.0017	get 0.0002% / 1h	45m 52s	$16.4M	$7.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against StandX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DerivebpOrdersPrice spread, now −0.115%Rate

Funding earned: −$17.45
Price spread: −0.115% → −0.027%: −$8.82
Slippage, 4 orders: no order book: not counted
Fee StandX: 4 bp × 2 orders: −$8
Fee Derive: 3 bp × 2 orders: −$6
Net: −$40.26
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: StandX: live order book, 3 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 StandX live order book, 3 min ago	1.28 bp	5.3 bp −$5	5.4 bp −$54	11.8 bp −$1,183	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	−0.1240%	1h	93.362	−0.152%	$197K	$233K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0186%	1h	93.330	−0.186%	$701K	$943K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0175%	1h	93.418	−0.092%	$22K	$22K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.472	−0.034%	$89K	$345K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.410	−0.101%	$3K	$331	25x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.504	−0.001%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.520	+0.017%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.446	−0.062%	$23K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.494	−0.010%	$19K	—	150x	as long as short
Aster HYPEUSDT	+0.0014%	4h	93.413	−0.097%	$8.9M	$36.1M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Derive HYPE-PERPshort	+0.0017%	1h	93.397	−0.115%	$16.4M	$7.1M	10x
Bullet HYPE-USD	+0.0020%	1h	93.455	−0.052%	$112K	$583K	20x	as long as short
Gate HYPE_USDT	+0.0024%	4h	93.427	−0.082%	$44.2M	$56.3M	75x	as long as short
Bybit HYPEUSDT	+0.0039%	8h	93.410	−0.101%	$325.4M	$287.9M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.408	−0.103%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0075%	4h	93.462	−0.045%	$180K	$536K	20x	as long as short
ApeX Omni HYPEUSDT	+0.0092%	1h	93.318	−0.199%	$405K	$1.1M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.505	+0.001%	$18.5M	$59.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.467	−0.040%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.448	−0.060%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.500	−0.004%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.455	−0.052%	$6.0M	$44.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.500	−0.004%	$2.04B	$669.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.456	−0.051%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.419	−0.091%	$385.8M	$888.5M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.402	−0.109%	$114.8M	$315.5M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.433	−0.076%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.335	−0.180%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.425	−0.084%	$93.1M	$81.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.449	−0.059%	$46.3M	$19.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.431	−0.078%	$226.9M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.416	−0.094%	—	$54.3M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.475	−0.031%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.295	−0.223%	$28.8M	$49.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.407	−0.104%	$7.5M	$46.2M	10x	as long as short
StandX HYPE-USDlong	+0.0100%	1h	93.504	long leg	$676K	$2.4M	20x
Vest HYPE-PERP	+0.0100%	1h	93.490	−0.014%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.483	−0.022%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.445	−0.063%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.496	−0.009%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.446	−0.062%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.429	−0.080%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.483	−0.022%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.412	−0.099%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.488	−0.017%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0108%	4h	93.395	−0.117%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.500	−0.004%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.462	−0.044%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.360	−0.154%	$30K	$231K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0285%	1h	93.552	+0.051%	$7.4M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.499	−0.005%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.408	−0.103%	$17.1M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0388%	4h	93.628	+0.133%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.518	+0.015%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0573%	1h	93.537	+0.035%	$19.2M	$25.8M	50x	as long as short