HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0566%/8h= +62.0% APRnext payment +$0.71 per $10,000 · paid last 24h +0.063%

Price spread now: Deribit against Arcus+0.237%7-day average +0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$5as in the Price arb table

costs, in and out, $10k−$210.209% of the position

Long on Arcus Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.054%+$5 on $10k

Price spread, last 3 days (all we have)−0.259%−$26 · spread now +0.237%, 7d avg +0.077%

Together, before fees−0.205%−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Deribit is 0.160% dearer against Arcus than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.077%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.054% in total (about 5.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.71 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	Arcus HYPE-USD	93.238	−0.0131	get 0.0016% / 1h	13m 40s	$1.2M	$3.9M	10x
Short	Deribit HYPE_USDC-PERPETUAL	93.459	0.0435	get 0.0054% / 1h	13m 40s	$7.4M	$4.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Arcus. 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 ArcusbpFee DeribitbpOrdersPrice spread, now +0.237%Rate

Funding earned: $118.84
Price spread: +0.237% → +0.077%: $15.99
Slippage, 4 orders: −$9.39
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $113.94
Costs to cover: 0.209%
Break-even: 0.3 days

Slippage from Arcus: live order book, just now; Deribit: live order book, just now.

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 Arcus live order book, just now	0.38 bp	3.1 bp −$3	5.9 bp −$59	23.7 bp −$2,373	doesn't fit
Sell Deribit live order book, just now	1.50 bp	8.8 bp −$9	11.9 bp −$119	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	−0.0441%	1h	93.211	−0.029%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0352%	1h	93.222	−0.017%	$197K	$230K	7x	as long as short
Arcus HYPE-USDlong	−0.0131%	1h	93.238	long leg	$1.2M	$3.9M	10x
Ondo Perps HYPE-USD.P	−0.0125%	1h	93.310	+0.077%	$699K	$934K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.272	+0.036%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.321	+0.089%	$90K	$360K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.388	+0.161%	$127K	$32K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	93.260	+0.024%	$58K	$1.2M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.251	+0.014%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.336	+0.105%	$27K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0003%	4h	93.377	+0.149%	$8.9M	$35.9M	300x	as long as short
Orderly PERP_HYPE_USDC	+0.0020%	4h	93.329	+0.098%	$172K	$517K	20x	as long as short
Bybit HYPEUSDT	+0.0023%	8h	93.309	+0.076%	$323.3M	$283.7M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.249	+0.012%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0035%	1h	93.304	+0.071%	$112K	$578K	20x	as long as short
Derive HYPE-PERP	+0.0047%	1h	93.269	+0.033%	$16.3M	$7.0M	10x	as long as short
Gate HYPE_USDT	+0.0060%	4h	93.308	+0.075%	$44.0M	$58.7M	75x	as long as short
MEXC HYPE_USDT	+0.0064%	4h	93.337	+0.106%	$90.2M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0067%	4h	93.348	+0.118%	$382.1M	$894.7M	75x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	93.171	−0.071%	$5.1M	$29.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.369	+0.141%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.388	+0.161%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.331	+0.100%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.352	+0.122%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.260	+0.024%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.255	+0.019%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.401	+0.175%	$2.03B	$669.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.344	+0.114%	$10.0M	$14.4M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.300	+0.066%	$114.3M	$313.3M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.232	−0.006%	$204K	$8K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.382	+0.154%	$47.0M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.287	+0.053%	$226.2M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.297	+0.063%	—	$53.7M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.400	+0.174%	$7.9M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.203	−0.037%	$29.0M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.199	−0.042%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.153	−0.091%	$414K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.206	−0.034%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.284	+0.050%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.293	+0.059%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.336	+0.105%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.353	+0.123%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.354	+0.124%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.331	+0.100%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.255	+0.019%	$18.2M	$41.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0117%	8h	93.425	+0.201%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.410	+0.184%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0231%	4h	93.500	+0.281%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.140	−0.105%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.257	+0.021%	$77K	$159K	15x	as long as short
BloFin HYPE-USDT	+0.0260%	4h	93.211	−0.029%	$16.8M	$12.4M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.341	+0.110%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.313	+0.080%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUALshort	+0.0435%	1h	93.459	+0.237%	$7.4M	$4.6M	50x
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.493	+0.274%	$20.9M	$29.0M	50x	as long as short