Funding you earn now, next payment 01:00 UTC−0.0212%/8h= −23.2% APRpaid last 24h −0.019%
Price spread now: Binance against Deribit−0.119%7-day average −0.034% · you buy dearer than you sell
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$290.288% of the position
Funding, last 7 days+0.029%+$3 on $10k
+Price spread, last 3 days (all we have)+0.142%+$14 · spread now −0.119%, 7d avg −0.034%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Binance is 0.085% cheaper against Deribit than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.034%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.029% in total (about 1.5% a year). A funding rate is set anew for every payment. 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 | 93.948 | 0.0251 | pay 0.0031% / 1h | 55m 42s | $7.5M | $4.7M | 50x |
| Short | Binance HYPEUSDT | 93.836 | 0.0039 | get 0.0020% / 4h | 3h 55m | $383.3M | $898.1M | 75x |
Funding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Deribit. 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
- −$44.42
- Price spread: −0.119% → −0.034%
- −$8.52
- Slippage, 4 orders
- −$11.78
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$81.73
- Costs to cover
- 0.288%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 3 min ago; Binance: live order book, 3 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, 3 min ago | 1.75 bp | 8.6 bp −$9 | 11.1 bp −$111 | doesn't fit | doesn't fit |
| Sell Binance live order book, 3 min ago | 0.05 bp | 5.1 bp −$5 | 7.5 bp −$75 | 10.1 bp −$1,006 | 28.6 bp −$14.3K |
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 | −0.1432% | 1h | 93.897 | −0.055% | $199K | $228K | 7x | as long as short |
| Arcus HYPE-USD | −0.0625% | 1h | 93.706 | −0.258% | $1.2M | $3.8M | 10x | as long as short |
| Aftermath Perps HYPEUSD | −0.0322% | 1h | 93.973 | +0.027% | $22K | $22K | 10x | as long as short |
| dYdX HYPE-USD | −0.0179% | 1h | 93.914 | −0.036% | $128K | $30K | 5x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0125% | 1h | 93.770 | −0.189% | $705K | $925K | 10x | as long as short |
| Bybit HYPEUSDT | −0.0123% | 8h | 93.790 | −0.168% | $322.7M | $283.5M | 75x | as long as short |
| 01 Exchange HYPEUSD | −0.0120% | 1h | 93.843 | −0.112% | $86K | $365K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.868 | −0.085% | $3K | $331 | 25x | as long as short |
| Bullet HYPE-USD | −0.0075% | 1h | 93.825 | −0.131% | $112K | $579K | 20x | as long as short |
| Gate HYPE_USDT | −0.0062% | 4h | 93.830 | −0.126% | $44.6M | $58.8M | 75x | as long as short |
Show all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Derive HYPE-PERP | −0.0013% | 1h | 93.778 | −0.181% | $16.4M | $7.2M | 10x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0008% | 4h | 93.829 | −0.127% | $169K | $594K | 20x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.879 | −0.074% | $23K | $329K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0003% | 1h | 93.860 | −0.094% | $27K | — | 150x | as long as short |
| Phoenix HYPE | +0.0009% | 1h | 94.114 | +0.177% | $218K | $1.2M | 10x | as long as short |
| Aster HYPEUSDT | +0.0011% | 4h | 93.813 | −0.144% | $8.9M | $36.1M | 300x | as long as short |
| Binance HYPEUSDTshort | +0.0039% | 4h | 93.836 | −0.119% | $383.3M | $898.1M | 75x | |
| Popdex HYPEUSDT | +0.0040% | 1h | 93.835 | −0.120% | $60K | $1.2M | 50x | as long as short |
| MEXC HYPE_USDT | +0.0042% | 4h | 93.830 | −0.126% | $88.0M | $81.8M | 100x | as long as short |
| edgeX HYPEUSDC | +0.0054% | 4h | 93.988 | +0.042% | $5.1M | $29.7M | 30x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0086% | 8h | 93.805 | −0.152% | $115.8M | $321.5M | 50x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.868 | −0.086% | $18.8M | $58.2M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.851 | −0.103% | $3.1M | $12.0M | 20x | as long as short |
| Aevo HYPE-PERP | +0.0096% | 1h | 93.904 | −0.047% | $399K | $268K | 20x | as long as short |
| Paradex HYPE-USD-PERP | +0.0099% | 8h | 93.860 | −0.094% | $341K | $171K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.860 | −0.094% | $42K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.835 | −0.120% | $6.6M | $44.9M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.930 | −0.019% | $2.04B | $680.9M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.843 | −0.112% | $10.1M | $14.6M | 20x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.830 | −0.126% | $46.5M | $18.5M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.802 | −0.155% | $227.2M | $101.9M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.822 | −0.134% | — | $54.0M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.879 | −0.073% | $7.7M | $10.5M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.832 | −0.123% | $31.2M | $54.3M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 94.052 | +0.110% | $7.6M | $45.4M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 94.033 | +0.090% | $340K | $1.1M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.964 | +0.017% | $679K | $2.5M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.895 | −0.057% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.872 | −0.081% | $471K | $2.5M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.828 | −0.128% | $76K | $171K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.903 | −0.048% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.850 | −0.104% | $2.0M | $2.0M | 10x | as long as short |
| Phemex HYPEUSDT | +0.0100% | 8h | 93.890 | −0.062% | $12.8M | $2.6M | 50x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.944 | −0.005% | $205K | $6K | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.842 | −0.113% | $18.4M | $42.6M | 50x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0144% | 1h | 93.890 | −0.062% | $4.9M | $5.7M | 50x | as long as short |
| Kalshi KXHYPEPERP | +0.0163% | 8h | 93.929 | −0.020% | $1.9M | $5.1M | 2.3x | as long as short |
| BloFin HYPE-USDT | +0.0175% | 4h | 93.897 | −0.054% | $17.0M | $12.5M | 75x | as long as short |
| Injective HYPE/USDC PERP | +0.0205% | 1h | 94.150 | +0.215% | $31K | $338K | 12x | as long as short |
| RISEx HYPE/USDC | +0.0222% | 1h | 93.889 | −0.063% | $2.8M | $6.9M | 20x | as long as short |
| Reya HYPERUSDPERP | +0.0250% | 1h | 93.820 | −0.136% | $78K | $143K | 15x | as long as short |
| Deribit HYPE_USDC-PERPETUALlong | +0.0251% | 1h | 93.948 | long leg | $7.5M | $4.7M | 50x | |
| HTX HYPE-USDT | +0.0310% | 4h | 94.050 | +0.109% | $1.5M | $7.5M | 75x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0338% / S −0.0157% | 1h | 93.862 | −0.092% | $1.4M | — | 100x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0672% | 1h | 93.955 | +0.007% | $21.0M | $29.5M | 50x | as long as short |
Deribit HYPE_USDC-PERPETUAL
Binance HYPEUSDT
Aftermath Perps HYPEUSD
Bybit HYPEUSDT
01 Exchange HYPEUSD
Bullet HYPE-USD
Gate HYPE_USDT
Derive HYPE-PERP
gTrade (Gains Network) HYPE/USD
Phoenix HYPE
Aster HYPEUSDT
Popdex HYPEUSDT
MEXC HYPE_USDT
edgeX HYPEUSDC
OKX HYPE-USDT-SWAP
Lighter HYPE
Lighter RH HYPE
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Hyperliquid HYPE
Pacifica HYPE
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Phemex HYPEUSDT
Bulk HYPE-USD
Extended HYPE-USD
Coinbase International HYPE-PERP-INTX
Kalshi KXHYPEPERP
BloFin HYPE-USDT
Injective HYPE/USDC PERP
RISEx HYPE/USDC
HTX HYPE-USDT
GMX HYPE/USD [WBTC.b-USDC]
Kraken Futures PF_HYPEUSD