HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0318%/8h= +34.8% APRnext payment +$0.40 per $10,000 · paid last 24h +0.031%

Price spread now: Deribit against ApeX Omni+0.155%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on ApeX Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.028%−$3 on $10k

Price spread, last 4 days (all we have)−0.203%−$20 · spread now +0.155%, 7d avg +0.048%

Together, before fees−0.231%−$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Deribit is 0.107% dearer against ApeX Omni than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.048%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.028% in total (about -1.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.40 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	ApeX Omni HYPEUSDT	92.717	0.0100	pay 0.0013% / 1h	15m 00s	$350K	$1.0M	50x
Short	Deribit HYPE_USDC-PERPETUAL	92.861	0.0418	get 0.0052% / 1h	15m 00s	$7.5M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against ApeX Omni. 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 ApeX OmnibpFee DeribitbpOrdersPrice spread, now +0.155%Rate

Funding earned: $66.78
Price spread: +0.155% → +0.048%: $10.7
Slippage, 4 orders: −$14.57
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $45.91
Costs to cover: 0.316%
Break-even: 2.2 days

Slippage from ApeX Omni: 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 ApeX Omni live order book, 4 min ago	2.37 bp	8.1 bp −$8	13.5 bp −$135	doesn't fit	doesn't fit
Sell Deribit live order book, 4 min ago	1.51 bp	8.5 bp −$9	13.0 bp −$130	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
Arcus HYPE-USD	−0.0948%	1h	92.676	−0.044%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0248%	1h	92.691	−0.028%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0245%	1h	92.691	−0.028%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.690	−0.029%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0065%	4h	92.738	+0.023%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	92.782	+0.070%	$87K	$361K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.692	−0.026%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.753	+0.038%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.761	+0.047%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0029%	8h	92.763	+0.050%	$12.5M	$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
Ondo Perps HYPE-USD.P	+0.0034%	1h	92.670	−0.051%	$697K	$1.1M	10x	as long as short
Bullet HYPE-USD	+0.0037%	1h	92.720	+0.003%	$110K	$578K	20x	as long as short
BingX HYPE-USDT	+0.0038%	4h	92.762	+0.049%	—	$53.5M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.779	+0.067%	$210K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0045%	4h	92.728	+0.012%	$8.7M	$36.2M	300x	as long as short
Bybit HYPEUSDT	+0.0045%	8h	92.750	+0.036%	$316.7M	$281.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0090%	8h	92.759	+0.045%	$113.7M	$303.9M	50x	as long as short
Gate HYPE_USDT	+0.0094%	4h	92.758	+0.044%	$44.5M	$55.3M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	92.728	+0.012%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.775	+0.063%	$16.0M	$62.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.783	+0.071%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.750	+0.036%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.730	+0.014%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.713	−0.005%	$7.1M	$45.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.814	+0.105%	$2.02B	$663.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.742	+0.027%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.762	+0.048%	$372.6M	$903.2M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.764	+0.051%	$87.4M	$80.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.758	+0.044%	$46.1M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.755	+0.041%	$224.5M	$98.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.760	+0.046%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.669	−0.052%	$28.7M	$57.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.760	+0.046%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDTlong	+0.0100%	1h	92.717	long leg	$350K	$1.0M	50x
StandX HYPE-USD	+0.0100%	1h	92.715	−0.002%	$666K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.777	+0.065%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.749	+0.035%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.744	+0.029%	$78K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.748	+0.033%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.762	+0.049%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.765	+0.052%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.901	+0.198%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.701	−0.017%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.745	+0.031%	$18.1M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.770	+0.057%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0106%	4h	92.709	−0.009%	$5.0M	$29.6M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.305%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.760	+0.046%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0235%	8h	92.781	+0.069%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0262%	1h	92.720	+0.003%	$79K	$132K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.752	+0.038%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.825	+0.116%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.766	+0.053%	$16.7M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUALshort	+0.0418%	1h	92.861	+0.155%	$7.5M	$4.5M	50x
RISEx HYPE/USDC	+0.0687%	1h	92.811	+0.101%	$3.2M	$6.4M	20x	as long as short