Funding you earn now, next payment 06:00 UTC+0.0079%/8h= +8.7% APRpaid last 24h +0.006%
Price spread now: Derive against Bybit+0.030%7-day average −0.009% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.040%+$4 on $10k
+Price spread, last 4 days (all we have)−0.075%−$7 · spread now +0.030%, 7d avg −0.009%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Derive is 0.038% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.009%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit HYPEUSDT | 93.168 | 0.0021 | pay 0.0021% / 8h | 2h 34m | $316.6M | $283.2M | 75x |
| Short | Derive HYPE-PERP | 93.196 | 0.0100 | get 0.0013% / 1h | 34m 03s | $16.1M | $7.5M | 10x |
Bybit HYPEUSDT
Derive HYPE-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $16.62
- Price spread: +0.030% → −0.009%
- $3.84
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- $3.46
- Costs to cover
- 0.170%
- Break-even
- 5.5 days
Slippage unknown: Bybit: live order book, 10 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 Bybit live order book, 10 min ago | 0.54 bp | 6.6 bp −$7 | 7.9 bp −$79 | 16.6 bp −$1,655 | 53.3 bp −$26.7K |
| 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi HYPE/USDT-P | −0.1624% | 1h | 93.409 | +0.259% | $197K | $234K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0361% | 1h | 93.349 | +0.194% | $22K | $21K | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.328 | +0.172% | $3K | $331 | 25x | as long as short |
| Bullet HYPE-USD | −0.0071% | 1h | 93.212 | +0.047% | $111K | $578K | 20x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0023% | 4h | 93.228 | +0.064% | $146K | $662K | 20x | as long as short |
| 01 Exchange HYPEUSD | −0.0016% | 1h | 93.305 | +0.147% | $87K | $366K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.367 | +0.213% | $128K | $29K | 5x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.318 | +0.161% | $22K | $290K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0002% | 1h | 93.239 | +0.076% | $62K | — | 150x | as long as short |
| Arcus HYPE-USD | +0.0011% | 1h | 93.274 | +0.114% | $1.0M | $4.0M | 10x | as long as short |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Hotstuff HYPE-PERP
Bullet HYPE-USD
Orderly PERP_HYPE_USDC
01 Exchange HYPEUSD
dYdX HYPE-USD
Perpl HYPE
gTrade (Gains Network) HYPE/USD
Arcus HYPE-USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps HYPE-USD.P | +0.0013% | 1h | 93.430 | +0.281% | $702K | $1.2M | 10x | as long as short |
| Bitget HYPEUSDT | +0.0016% | 4h | 93.172 | +0.004% | $225.3M | $98.9M | 75x | as long as short |
| Bybit HYPEUSDTlong | +0.0021% | 8h | 93.168 | long leg | $316.6M | $283.2M | 75x | |
| Phoenix HYPE | +0.0026% | 1h | 93.434 | +0.286% | $209K | $1.2M | 10x | as long as short |
| Phemex HYPEUSDT | +0.0043% | 8h | 93.243 | +0.080% | $12.6M | $2.7M | 50x | as long as short |
| edgeX HYPEUSDC | +0.0094% | 4h | 93.304 | +0.146% | $5.0M | $30.0M | 30x | as long as short |
| Paradex HYPE-USD-PERP | +0.0094% | 8h | 93.356 | +0.202% | $340K | $162K | 20x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.213 | +0.048% | $16.1M | $63.1M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.222 | +0.058% | $3.1M | $11.4M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.285 | +0.126% | $76K | $1.2M | 50x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.260 | +0.099% | $28K | $1.7M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.314 | +0.157% | $8.0M | $48.5M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.259 | +0.098% | $2.03B | $668.7M | 10x | as long as short |
| Aster HYPEUSDT | +0.0100% | 4h | 93.228 | +0.064% | $8.7M | $36.5M | 300x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.339 | +0.184% | $10.1M | $15.4M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.186 | +0.019% | $373.4M | $913.6M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.181 | +0.014% | $114.2M | $309.1M | 50x | as long as short |
| Gate HYPE_USDT | +0.0100% | 4h | 93.211 | +0.046% | $46.6M | $54.2M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.214 | +0.049% | $89.8M | $80.9M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.219 | +0.055% | $46.1M | $18.9M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.201 | +0.035% | — | $53.9M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.229 | +0.065% | $7.3M | $10.6M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.351 | +0.196% | $28.6M | $56.3M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.365 | +0.212% | $7.5M | $47.0M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.331 | +0.175% | $342K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.497 | +0.353% | $669K | $2.9M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.365 | +0.211% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.277 | +0.117% | $483K | $2.7M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.207 | +0.042% | $79K | $165K | 20x | as long as short |
| Derive HYPE-PERPshort | +0.0100% | 1h | 93.196 | +0.030% | $16.1M | $7.5M | 10x | |
| SunX HYPE-USDT | +0.0100% | 4h | 93.218 | +0.054% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.221 | +0.057% | $2.0M | $1.9M | 10x | as long as short |
| HTX HYPE-USDT | +0.0100% | 4h | 93.351 | +0.196% | $1.4M | $6.5M | 75x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.344 | +0.189% | $215K | $15K | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.146 | −0.024% | $18.1M | $43.2M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.212 | +0.047% | $394K | $158K | 20x | as long as short |
| Kalshi KXHYPEPERP | +0.0112% | 8h | 93.383 | +0.231% | $1.8M | $5.7M | 2.3x | as long as short |
| Injective HYPE/USDC PERP | +0.0122% | 1h | 93.350 | +0.195% | $30K | $339K | 12x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0144% | 1h | 93.310 | +0.152% | $4.8M | $5.6M | 50x | as long as short |
| Reya HYPERUSDPERP | +0.0269% | 1h | 93.231 | +0.067% | $80K | $131K | 15x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0332% / S −0.0154% | 1h | 93.241 | +0.078% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.516 | +0.374% | $16.9M | $11.9M | 75x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0341% | 1h | 93.292 | +0.133% | $20.8M | $29.6M | 50x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0426% | 1h | 93.304 | +0.146% | $7.5M | $4.0M | 50x | as long as short |
| RISEx HYPE/USDC | +0.0527% | 1h | 93.364 | +0.210% | $3.2M | $6.2M | 20x | as long as short |
Ondo Perps HYPE-USD.P
Bitget HYPEUSDT
Phoenix HYPE
Phemex HYPEUSDT
edgeX HYPEUSDC
Paradex HYPE-USD-PERP
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Aster HYPEUSDT
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Gate HYPE_USDT
MEXC HYPE_USDT
KuCoin HYPEUSDTM
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
HTX HYPE-USDT
Bulk HYPE-USD
Extended HYPE-USD
Aevo HYPE-PERP
Kalshi KXHYPEPERP
Injective HYPE/USDC PERP
Coinbase International HYPE-PERP-INTX
Reya HYPERUSDPERP
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
Kraken Futures PF_HYPEUSD
Deribit HYPE_USDC-PERPETUAL
RISEx HYPE/USDC