HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0405%/8h= +44.3% APRnext payment +$0.51 per $10,000 · paid last 24h +0.025%

Price spread now: Deribit against Aevo+0.127%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$470.475% of the position

Long on Aevo Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 3 days (all we have)−0.107%−$11 · spread now +0.127%, 7d avg +0.042%

Together, before fees−0.149%−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Deribit is 0.086% dearer against Aevo than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.042%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.043% in total (about -2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.51 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	Aevo HYPE-PERP	93.180	0.0096	pay 0.0012% / 1h	44m 40s	$396K	$177K	20x
Short	Deribit HYPE_USDC-PERPETUAL	93.299	0.0501	get 0.0063% / 1h	44m 40s	$7.4M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Aevo. 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 AevobpFee DeribitbpOrdersPrice spread, now +0.127%Rate

Funding earned: $85.05
Price spread: +0.127% → +0.042%: $8.55
Slippage, 4 orders: −$24.47
Fee Aevo: 8 bp × 2 orders: −$16
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $46.14
Costs to cover: 0.475%
Break-even: 3.2 days

Slippage from Aevo: live order book, 24 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 Aevo live order book, 24 min ago	7.76 bp	17.2 bp −$17	23.0 bp −$230	26.4 bp −$2,639	doesn't fit
Sell Deribit live order book, 4 min ago	2.09 bp	7.6 bp −$8	13.4 bp −$134	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	−0.1024%	1h	93.288	+0.116%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.105	−0.081%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0173%	1h	93.350	+0.182%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0128%	1h	93.120	−0.065%	$698K	$976K	10x	as long as short
Backpack HYPE_USDC_PERP	−0.0120%	1h	93.168	−0.013%	$7.8M	$10.4M	20x	as long as short
Gate HYPE_USDT	−0.0088%	4h	93.216	+0.038%	$44.1M	$54.0M	75x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.204	+0.025%	$84K	$361K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.238	+0.062%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0054%	4h	93.184	+0.004%	$156K	$652K	20x	as long as short
Phemex HYPEUSDT	−0.0036%	8h	93.238	+0.062%	$12.6M	$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
Aster HYPEUSDT	−0.0034%	4h	93.218	+0.040%	$8.8M	$36.3M	300x	as long as short
Bluefin HYPE-PERP	−0.0009%	1h	93.169	−0.012%	$79K	$174K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.239	+0.063%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.221	+0.043%	$22K	$333K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.226	+0.049%	$25K	—	150x	as long as short
Bybit HYPEUSDT	+0.0010%	8h	93.220	+0.042%	$318.9M	$283.3M	75x	as long as short
BingX HYPE-USDT	+0.0018%	4h	93.222	+0.045%	—	$54.3M	—	as long as short
Binance HYPEUSDT	+0.0041%	4h	93.241	+0.065%	$379.4M	$905.2M	75x	as long as short
MEXC HYPE_USDT	+0.0042%	4h	93.236	+0.060%	$88.0M	$82.4M	100x	as long as short
Bullet HYPE-USD	+0.0042%	1h	93.218	+0.041%	$111K	$579K	20x	as long as short
edgeX HYPEUSDC	+0.0059%	4h	93.354	+0.186%	$5.1M	$30.0M	30x	as long as short
Phoenix HYPE	+0.0060%	1h	93.190	+0.010%	$212K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0064%	8h	93.230	+0.053%	$114.9M	$315.0M	50x	as long as short
Derive HYPE-PERP	+0.0067%	1h	93.161	−0.021%	$16.2M	$7.6M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.239	+0.062%	$16.4M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.236	+0.060%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.234	+0.057%	$65K	$1.2M	50x	as long as short
Aevo HYPE-PERPlong	+0.0096%	1h	93.180	long leg	$396K	$177K	20x
Paradex HYPE-USD-PERP	+0.0096%	8h	93.271	+0.097%	$339K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.270	+0.096%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.205	+0.027%	$6.5M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.307	+0.136%	$2.04B	$675.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.269	+0.095%	$10.0M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.404	+0.239%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.270	+0.096%	$45.9M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.227	+0.050%	$225.6M	$100.7M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.241	+0.064%	$30.9M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.420	+0.257%	$7.5M	$47.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.381	+0.215%	$337K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.351	+0.183%	$666K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.279	+0.106%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.240	+0.064%	$467K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.252	+0.077%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.187	+0.007%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.202	+0.023%	$18.4M	$44.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.260	+0.085%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.130	−0.054%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0175%	4h	93.407	+0.243%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.265	+0.091%	$2.7M	$6.7M	20x	as long as short
HTX HYPE-USDT	+0.0251%	4h	93.350	+0.182%	$1.4M	$6.1M	75x	as long as short
Reya HYPERUSDPERP	+0.0254%	1h	93.199	+0.019%	$79K	$142K	15x	as long as short
Kalshi KXHYPEPERP	+0.0260%	8h	93.346	+0.178%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0158%	1h	93.225	+0.048%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUALshort	+0.0501%	1h	93.299	+0.127%	$7.4M	$4.5M	50x
Kraken Futures PF_HYPEUSD	+0.0684%	1h	93.253	+0.078%	$20.8M	$30.0M	50x	as long as short