HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0361%/8h= −39.5% APRnext payment −$0.45 per $10,000 · paid last 24h −0.025%

Price spread now: Aevo against Deribit−0.141%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$470.475% of the position

Long on Deribit Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 3 days (all we have)+0.120%+$12 · spread now −0.141%, 7d avg −0.042%

Together, before fees+0.163%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Aevo is 0.099% cheaper against Deribit than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.042%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.043% in total (about 2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.45 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	Deribit HYPE_USDC-PERPETUAL	93.402	0.0457	pay 0.0057% / 1h	45m 22s	$7.5M	$4.5M	50x
Short	Aevo HYPE-PERP	93.271	0.0096	get 0.0012% / 1h	45m 22s	$397K	$177K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Deribit. 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 DeribitbpFee AevobpOrdersPrice spread, now −0.141%Rate

Funding earned: −$75.81
Price spread: −0.141% → −0.042%: −$9.9
Slippage, 4 orders: −$24.47
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$133.18
Costs to cover: 0.475%
Break-even: never at this rate

Slippage from Deribit: live order book, 4 min ago; Aevo: live order book, 24 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 Deribit live order book, 4 min ago	2.09 bp	7.0 bp −$7	9.4 bp −$94	doesn't fit	doesn't fit
Sell Aevo live order book, 24 min ago	7.76 bp	15.8 bp −$16	15.8 bp −$158	26.5 bp −$2,654	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
Hibachi HYPE/USDT-P	−0.1024%	1h	93.288	−0.122%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.105	−0.318%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0173%	1h	93.350	−0.056%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0129%	1h	93.240	−0.173%	$698K	$977K	10x	as long as short
Backpack HYPE_USDC_PERP	−0.0118%	1h	93.254	−0.158%	$7.8M	$10.4M	20x	as long as short
Gate HYPE_USDT	−0.0088%	4h	93.201	−0.215%	$44.1M	$54.0M	75x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.204	−0.212%	$84K	$361K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.238	−0.176%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0054%	4h	93.184	−0.233%	$156K	$652K	20x	as long as short
Phemex HYPEUSDT	−0.0051%	8h	93.331	−0.076%	$12.7M	$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
Aster HYPEUSDT	−0.0029%	4h	93.211	−0.205%	$8.8M	$36.3M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.239	−0.175%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.221	−0.194%	$22K	$333K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.226	−0.189%	$25K	—	150x	as long as short
Bluefin HYPE-PERP	+0.0006%	1h	93.269	−0.142%	$79K	$174K	20x	as long as short
Bybit HYPEUSDT	+0.0010%	8h	93.190	−0.227%	$318.8M	$283.3M	75x	as long as short
BingX HYPE-USDT	+0.0016%	4h	93.204	−0.212%	—	$54.3M	—	as long as short
Bullet HYPE-USD	+0.0042%	1h	93.218	−0.197%	$111K	$579K	20x	as long as short
Binance HYPEUSDT	+0.0044%	4h	93.189	−0.228%	$379.9M	$905.0M	75x	as long as short
MEXC HYPE_USDT	+0.0044%	4h	93.209	−0.207%	$88.1M	$82.4M	100x	as long as short
Derive HYPE-PERP	+0.0058%	1h	93.257	−0.155%	$16.2M	$7.6M	10x	as long as short
edgeX HYPEUSDC	+0.0059%	4h	93.354	−0.051%	$5.1M	$30.0M	30x	as long as short
Phoenix HYPE	+0.0060%	1h	93.190	−0.227%	$212K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0064%	8h	93.196	−0.221%	$114.9M	$315.1M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.224	−0.191%	$16.4M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.222	−0.193%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.234	−0.180%	$65K	$1.2M	50x	as long as short
Aevo HYPE-PERPshort	+0.0096%	1h	93.271	−0.141%	$397K	$177K	20x
Paradex HYPE-USD-PERP	+0.0096%	8h	93.239	−0.175%	$339K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.270	−0.141%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.205	−0.210%	$6.5M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.303	−0.106%	$2.04B	$675.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.265	−0.147%	$10.0M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.404	+0.002%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.237	−0.177%	$45.9M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.217	−0.198%	$225.6M	$100.7M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.241	−0.173%	$30.9M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.420	+0.019%	$7.5M	$47.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.381	−0.022%	$337K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.351	−0.055%	$666K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.279	−0.132%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.240	−0.173%	$467K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.350	−0.056%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.292	−0.118%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.206	−0.210%	$18.4M	$44.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.410	+0.009%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.250	−0.163%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0175%	4h	93.407	+0.005%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.265	−0.147%	$2.7M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0254%	1h	93.199	−0.218%	$79K	$142K	15x	as long as short
HTX HYPE-USDT	+0.0256%	4h	93.464	+0.066%	$1.4M	$6.1M	75x	as long as short
Kalshi KXHYPEPERP	+0.0260%	8h	93.305	−0.104%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0158%	1h	93.314	−0.094%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUALlong	+0.0457%	1h	93.402	long leg	$7.5M	$4.5M	50x
Kraken Futures PF_HYPEUSD	+0.0683%	1h	93.377	−0.027%	$20.8M	$30.0M	50x	as long as short