Settings8H · net · $10k
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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0090%/8h= +9.8% APRnext payment +$0.11 per $10,000 · paid last 24h +0.001%
Price spread now: Deribit against Bluefin+0.090%7-day average +0.047% · you sell dearer than you buy
Net, funding: paid 7d − costs−$33as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$390.392% of the position
Long on BluefinShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.063%+$6 on $10k
Price spread, last 3 days (all we have)−0.040%−$4 · spread now +0.090%, 7d avg +0.047%
Together, before fees+0.023%+$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Deribit is 0.043% dearer against Bluefin than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.047%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBluefin HYPE-PERP93.2070.0304pay 0.0038% / 1h47m 00s$76K$168K20x
ShortDeribit HYPE_USDC-PERPETUAL93.2910.0394get 0.0049% / 1h47m 00s$7.4M$4.6M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Bluefin. 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

Funding earned
$18.82
Price spread: +0.090% → +0.047%
$4.3
Slippage, 4 orders
−$25.25
Fee Bluefin: 3.5 bp × 2 orders
−$7
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
−$16.13
Costs to cover
0.392%
Break-even
13.0 days
Slippage from Bluefin: live order book, 37 min ago; Deribit: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bluefin live order book, 37 min ago1.92 bp13.0 bp −$13doesn't fitdoesn't fitdoesn't fit
Sell Deribit live order book, 2 min ago2.04 bp8.5 bp −$814.7 bp −$147doesn't fitdoesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps HYPEUSD−0.0320%1h93.105−0.110%$22K$22K10xas long as short
Arcus HYPE-USD−0.0131%1h93.194−0.014%$1.2M$4.0M10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.221+0.015%$3K$33125xas long as short
Hibachi HYPE/USDT-P−0.0080%1h93.088−0.128%$197K$231K7xas long as short
01 Exchange HYPEUSD−0.0008%1h93.245+0.041%$90K$362K20xas long as short
Ondo Perps HYPE-USD.P−0.0002%1h93.120−0.093%$697K$924K10xas long as short
dYdX HYPE-USD0.0000%1h93.275+0.073%$127K$32K5xas long as short
Kalshi KXHYPEPERP0.0000%8h93.266+0.063%$1.9M$5.3M2.3xas long as short
Perpl HYPE0.0000%43m93.203−0.005%$23K$331K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.200−0.008%$20K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0005%4h93.219+0.012%$8.9M$36.0M300xas long as short
Derive HYPE-PERP+0.0016%1h93.141−0.071%$16.3M$7.1M10xas long as short
Popdex HYPEUSDT+0.0016%1h93.215+0.009%$57K$1.2M50xas long as short
Bybit HYPEUSDT+0.0031%8h93.259+0.056%$324.1M$286.9M75xas long as short
Phoenix HYPE+0.0034%1h93.178−0.031%$216K$1.2M10xas long as short
Orderly PERP_HYPE_USDC+0.0039%4h93.189−0.019%$169K$520K20xas long as short
Gate HYPE_USDT+0.0066%4h93.231+0.026%$43.7M$57.6M75xas long as short
Bullet HYPE-USD+0.0083%1h93.144−0.067%$112K$579K20xas long as short
Lighter HYPE+0.0096%1h93.238+0.033%$18.5M$58.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.210+0.003%$3.0M$12.1M20xas long as short
MEXC HYPE_USDT+0.0096%4h93.266+0.063%$90.5M$81.5M100xas long as short
Binance HYPEUSDT+0.0098%4h93.249+0.045%$383.7M$892.6M75xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.211+0.004%$339K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.200−0.008%$40K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.189−0.019%$5.9M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.227+0.021%$2.03B$671.4M10xas long as short
Pacifica HYPE+0.0100%1h93.242+0.038%$10.0M$14.3M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.240+0.035%$114.1M$314.7M50xas long as short
Bulk HYPE-USD+0.0100%1h92.884−0.346%$203K$10K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.271+0.069%$47.2M$19.1M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.276+0.074%$226.1M$102.8M75xas long as short
BingX HYPE-USDT+0.0100%4h93.223+0.017%—$54.0M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.259+0.056%$7.9M$11.7M20xas long as short
Variational Omni HYPE+0.0100%8h92.887−0.343%$28.9M$50.5M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h92.983−0.241%$7.5M$45.3M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.003−0.219%$411K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.000−0.222%$673K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.205−0.002%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.245+0.041%$493K$2.6M20xas long as short
SunX HYPE-USDT+0.0100%4h93.248+0.044%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.189−0.019%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.211+0.004%$12.7M$2.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.239+0.034%$18.3M$42.2M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.190−0.018%$396K$318K20xas long as short
edgeX HYPEUSDC+0.0108%4h92.923−0.304%$5.0M$29.5M30xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.170−0.040%$4.9M$5.7M50xas long as short
Injective HYPE/USDC PERP+0.0239%1h93.170−0.040%$30K$338K12xas long as short
Reya HYPERUSDPERP+0.0246%1h93.183−0.026%$78K$158K15xas long as short
RISEx HYPE/USDC+0.0280%1h93.281+0.079%$2.8M$6.8M20xas long as short
HTX HYPE-USDT+0.0285%4h93.308+0.108%$1.5M$7.7M75xas long as short
Bluefin HYPE-PERPlong+0.0304%1h93.207long leg$76K$168K20x
BloFin HYPE-USDT+0.0338%4h93.191−0.017%$17.0M$12.5M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0340% / S −0.0159%1h93.193−0.015%$1.5M—100xas long as short
Deribit HYPE_USDC-PERPETUALshort+0.0394%1h93.291+0.090%$7.4M$4.6M50x
Kraken Futures PF_HYPEUSD+0.0466%1h93.304+0.104%$20.8M$28.6M50xas long as short