HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1048%/8h= +114.8% APRnext payment +$1.31 per $10,000 · paid last 24h +0.066%

Price spread now: Derive against Arcus+0.026%7-day average +0.008% · you sell dearer than you buy

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

Long on Arcus Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.082%+$8 on $10k

Price spread, last 4 days (all we have)−0.120%−$12 · spread now +0.026%, 7d avg +0.008%

Together, before fees−0.039%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: +$31 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.082% in total (about 8.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.31 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	92.646	−0.0948	get 0.0119% / 1h	24m 23s	$1.1M	$3.9M	10x
Short	Derive HYPE-PERP	92.670	0.0100	get 0.0013% / 1h	24m 23s	$16.1M	$7.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now +0.026%Rate

Funding earned: $220.09
Price spread: +0.026% → +0.008%: $1.79
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Derive: 3 bp × 2 orders: −$6
Net: $211.38
Costs to cover: 0.105%
Break-even: 0.3 days

Slippage unknown: Arcus: live order book, 5 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 Arcus live order book, 5 min ago	0.70 bp	3.4 bp −$3	6.2 bp −$62	23.9 bp −$2,386	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
Arcus HYPE-USDlong	−0.0948%	1h	92.646	long leg	$1.1M	$3.9M	10x
Hibachi HYPE/USDT-P	−0.0264%	1h	92.680	+0.036%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0222%	1h	92.616	−0.033%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.700	+0.058%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0065%	4h	92.672	+0.028%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	92.747	+0.109%	$87K	$359K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.674	+0.031%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.692	+0.049%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.728	+0.089%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0024%	8h	92.693	+0.051%	$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	+0.0026%	1h	92.640	−0.006%	$697K	$1.1M	10x	as long as short
Bullet HYPE-USD	+0.0028%	1h	92.698	+0.056%	$111K	$579K	20x	as long as short
Aster HYPEUSDT	+0.0032%	4h	92.690	+0.047%	$8.7M	$36.3M	300x	as long as short
BingX HYPE-USDT	+0.0040%	4h	92.703	+0.062%	—	$53.4M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.652	+0.006%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0051%	8h	92.700	+0.058%	$316.7M	$282.1M	75x	as long as short
Gate HYPE_USDT	+0.0082%	4h	92.697	+0.055%	$44.5M	$55.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0086%	8h	92.704	+0.063%	$113.5M	$304.3M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.750	+0.113%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.712	+0.071%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.729	+0.090%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.716	+0.076%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.680	+0.037%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.712	+0.071%	$6.6M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.733	+0.094%	$2.02B	$662.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.710	+0.069%	$10.0M	$15.1M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.711	+0.070%	$372.1M	$904.1M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.709	+0.068%	$87.5M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.708	+0.067%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.712	+0.071%	$224.7M	$98.3M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.660	+0.015%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.628	−0.020%	$28.5M	$57.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.667	+0.023%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.687	+0.044%	$349K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.665	+0.021%	$664K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.756	+0.119%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.724	+0.084%	$465K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.678	+0.035%	$78K	$170K	20x	as long as short
Derive HYPE-PERPshort	+0.0100%	1h	92.670	+0.026%	$16.1M	$7.5M	10x
SunX HYPE-USDT	+0.0100%	4h	92.639	−0.008%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.681	+0.038%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.837	+0.206%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.701	+0.060%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.667	+0.023%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.712	+0.071%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0107%	4h	92.611	−0.038%	$5.0M	$29.5M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.590	−0.060%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.710	+0.069%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0244%	8h	92.727	+0.087%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0262%	1h	92.718	+0.078%	$79K	$137K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.716	+0.076%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.748	+0.110%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.668	+0.024%	$16.6M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0408%	1h	92.775	+0.139%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.781	+0.145%	$3.2M	$6.4M	20x	as long as short