Funding you earn now, next payment 23:00 UTC+0.0207%/8h= +22.7% APRpaid last 24h +0.010%
Price spread now: Deribit against Variational Omni+0.005%7-day average +0.067% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.008%−$1 on $10k
+Price spread, last 3 days (all we have)+0.068%+$7 · spread now +0.005%, 7d avg +0.067%
=Together, before fees+0.060%+ Points / potential airdropVariational Omni: Active · farm board+$6 on $10k · with fees, hour by hour
Funding pays, the price is against you. Deribit is 0.062% cheaper against Variational Omni than usual: you would sell low and buy high (spread +0.005% now, against its 7-day average of +0.067%). If the spread goes back, that is −$6 on $10k: about 24 hours of funding at the current rate (+$6 a day).
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.008% in total (about -0.9% 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 | Variational Omni HYPE | 93.354 | 0.0100 | pay 0.0100% / 8h | 1h 40m | $29.0M | $50.5M | — |
| Short | Deribit HYPE_USDC-PERPETUAL | 93.359 | 0.0307 | get 0.0038% / 1h | 40m 00s | $7.4M | $4.6M | 50x |
Variational Omni HYPE
Deribit HYPE_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Variational Omni. 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
- $43.47
- Price spread: +0.005% → +0.067%
- −$6.18
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $30.29
- Costs to cover
- 0.070%
- Break-even
- 2.1 days
Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Deribit: live order book, 4 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 Variational Omni RFQ quote, 4 min ago | 0.43 bp | doesn't fit | 3.0 bp −$30 | 12.4 bp −$1,237 | doesn't fit |
| Sell Deribit live order book, 4 min ago | 1.71 bp | 8.7 bp −$9 | 13.7 bp −$137 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps HYPEUSD | −0.0360% | 1h | 93.275 | −0.085% | $22K | $22K | 10x | as long as short |
| Hibachi HYPE/USDT-P | −0.0160% | 1h | 93.252 | −0.110% | $197K | $230K | 7x | as long as short |
| Arcus HYPE-USD | −0.0131% | 1h | 93.266 | −0.095% | $1.2M | $4.0M | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.329 | −0.027% | $3K | $331 | 25x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0068% | 1h | 93.270 | −0.090% | $700K | $924K | 10x | as long as short |
| 01 Exchange HYPEUSD | −0.0008% | 1h | 93.312 | −0.045% | $90K | $361K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.344 | −0.011% | $127K | $32K | 5x | as long as short |
| Popdex HYPEUSDT | 0.0000% | 1h | 93.291 | −0.068% | $58K | $1.2M | 50x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.313 | −0.044% | $23K | $331K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0001% | 1h | 93.323 | −0.033% | $20K | — | 150x | as long as short |
Aftermath Perps HYPEUSD
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Hotstuff HYPE-PERP
Ondo Perps HYPE-USD.P
01 Exchange HYPEUSD
dYdX HYPE-USD
Popdex HYPEUSDT
Perpl HYPE
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 | 93.279 | −0.080% | $8.9M | $36.0M | 300x | as long as short |
| Derive HYPE-PERP | +0.0016% | 1h | 93.235 | −0.128% | $16.3M | $7.1M | 10x | as long as short |
| Bybit HYPEUSDT | +0.0029% | 8h | 93.220 | −0.144% | $323.7M | $286.8M | 75x | as long as short |
| Phoenix HYPE | +0.0034% | 1h | 93.374 | +0.021% | $214K | $1.2M | 10x | as long as short |
| Orderly PERP_HYPE_USDC | +0.0035% | 4h | 93.273 | −0.087% | $171K | $519K | 20x | as long as short |
| Gate HYPE_USDT | +0.0056% | 4h | 93.257 | −0.104% | $43.7M | $57.8M | 75x | as long as short |
| Bullet HYPE-USD | +0.0060% | 1h | 93.287 | −0.072% | $112K | $578K | 20x | as long as short |
| Binance HYPEUSDT | +0.0096% | 4h | 93.241 | −0.121% | $383.3M | $892.1M | 75x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.322 | −0.035% | $18.5M | $58.7M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.290 | −0.069% | $3.1M | $12.1M | 20x | as long as short |
| MEXC HYPE_USDT | +0.0096% | 4h | 93.239 | −0.123% | $90.4M | $81.6M | 100x | as long as short |
| Paradex HYPE-USD-PERP | +0.0099% | 8h | 93.305 | −0.052% | $339K | $170K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.290 | −0.069% | $40K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.285 | −0.074% | $5.9M | $44.0M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.297 | −0.061% | $2.03B | $672.5M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.329 | −0.027% | $10.0M | $14.3M | 20x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.230 | −0.133% | $113.9M | $313.8M | 50x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.390 | +0.038% | $204K | $10K | 10x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.287 | −0.072% | $47.2M | $18.9M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.238 | −0.125% | $226.1M | $102.8M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.260 | −0.101% | — | $54.0M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.279 | −0.081% | $7.9M | $11.2M | 20x | as long as short |
| Variational Omni HYPElong | +0.0100% | 8h | 93.354 | long leg | $29.0M | $50.5M | — | |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.228 | −0.135% | $7.5M | $45.6M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.375 | +0.022% | $413K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.385 | +0.033% | $675K | $2.5M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.341 | −0.014% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.326 | −0.030% | $493K | $2.6M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.268 | −0.092% | $76K | $167K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.347 | −0.008% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.261 | −0.100% | $2.0M | $2.0M | 10x | as long as short |
| Phemex HYPEUSDT | +0.0100% | 8h | 93.316 | −0.041% | $12.7M | $2.6M | 50x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.218 | −0.146% | $18.2M | $42.0M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.236 | −0.126% | $397K | $318K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0104% | 4h | 93.291 | −0.067% | $5.1M | $29.5M | 30x | as long as short |
| Kalshi KXHYPEPERP | +0.0109% | 8h | 93.426 | +0.077% | $1.9M | $5.3M | 2.3x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0176% | 1h | 93.350 | −0.005% | $4.9M | $5.7M | 50x | as long as short |
| Injective HYPE/USDC PERP | +0.0239% | 1h | 93.340 | −0.015% | $30K | $338K | 12x | as long as short |
| Reya HYPERUSDPERP | +0.0246% | 1h | 93.296 | −0.062% | $78K | $158K | 15x | as long as short |
| HTX HYPE-USDT | +0.0265% | 4h | 93.464 | +0.118% | $1.5M | $7.7M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0280% | 1h | 93.363 | +0.009% | $2.8M | $6.8M | 20x | as long as short |
| Deribit HYPE_USDC-PERPETUALshort | +0.0307% | 1h | 93.359 | +0.005% | $7.4M | $4.6M | 50x | |
| BloFin HYPE-USDT | +0.0337% | 4h | 93.319 | −0.038% | $16.9M | $12.4M | 75x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0340% / S −0.0159% | 1h | 93.326 | −0.030% | $1.5M | — | 100x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0465% | 1h | 93.372 | +0.018% | $20.9M | $28.8M | 50x | as long as short |
Aster HYPEUSDT
Derive HYPE-PERP
Bybit HYPEUSDT
Phoenix HYPE
Orderly PERP_HYPE_USDC
Gate HYPE_USDT
Bullet HYPE-USD
Binance HYPEUSDT
Lighter HYPE
Lighter RH HYPE
MEXC HYPE_USDT
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
OKX HYPE-USDT-SWAP
Bulk HYPE-USD
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Phemex HYPEUSDT
Extended HYPE-USD
Aevo HYPE-PERP
edgeX HYPEUSDC
Kalshi KXHYPEPERP
Coinbase International HYPE-PERP-INTX
Injective HYPE/USDC PERP
Reya HYPERUSDPERP
HTX HYPE-USDT
RISEx HYPE/USDC
BloFin HYPE-USDT
GMX HYPE/USD [WBTC.b-USDC]
Kraken Futures PF_HYPEUSD