HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0175%/8h= −19.2% APRnext payment −$0.22 per $10,000 · paid last 24h −0.010%

Price spread now: GMX against Deribit−0.079%7-day average −0.030% · you buy dearer than you sell

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

Long on Deribit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.064%+$6 on $10k

Price spread, last 4 days (all we have)+0.447%+$45 · spread now −0.079%, 7d avg −0.030%

Together, before fees+0.510%+$51 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and GMX is 0.048% cheaper against Deribit than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.030%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.064%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit HYPE_USDC-PERPETUAL	92.928	0.0331	pay 0.0041% / 1h	5m 32s	$7.4M	$4.4M	50x
Short	GMX HYPE/USD [WBTC.b-USDC]	92.855	L +0.0330% / S −0.0156%	get 0.0019% / 1h	5m 32s	$1.4M	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.079%Rate

Funding earned: −$36.85
Price spread: −0.079% → −0.030%: −$4.83
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: −$60.68
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 4 min ago; GMX: 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 Deribit live order book, 4 min ago	0.70 bp	6.6 bp −$7	12.3 bp −$123	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0928%	1h	92.977	+0.053%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	92.745	−0.197%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0138%	1h	92.790	−0.149%	$698K	$1.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.840	−0.095%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0080%	1h	93.147	+0.236%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	92.791	−0.147%	$87K	$347K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0052%	4h	92.823	−0.113%	$154K	$655K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.817	−0.119%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.862	−0.071%	$23K	$316K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.868	−0.065%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0004%	4h	92.857	−0.076%	$8.8M	$35.9M	300x	as long as short
Bullet HYPE-USD	+0.0004%	1h	92.820	−0.116%	$111K	$579K	20x	as long as short
Phemex HYPEUSDT	+0.0018%	8h	92.888	−0.043%	$12.5M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	93.210	+0.303%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0038%	4h	92.839	−0.096%	—	$53.0M	—	as long as short
Gate HYPE_USDT	+0.0040%	4h	92.866	−0.067%	$44.3M	$55.7M	75x	as long as short
Bybit HYPEUSDT	+0.0042%	8h	92.830	−0.105%	$319.2M	$277.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0071%	8h	92.819	−0.117%	$113.2M	$298.3M	50x	as long as short
Binance HYPEUSDT	+0.0086%	4h	92.823	−0.113%	$375.5M	$881.1M	75x	as long as short
Derive HYPE-PERP	+0.0087%	1h	92.806	−0.132%	$16.1M	$7.5M	10x	as long as short
MEXC HYPE_USDT	+0.0090%	4h	92.811	−0.126%	$88.8M	$81.4M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	92.836	−0.099%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.810	−0.127%	$16.1M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.815	−0.122%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.823	−0.113%	$67K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.870	−0.062%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.822	−0.114%	$5.8M	$43.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.898	−0.032%	$2.03B	$654.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.846	−0.089%	$10.0M	$14.8M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.821	−0.115%	$45.8M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.807	−0.130%	$224.4M	$96.5M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.826	−0.110%	$7.4M	$10.0M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.797	−0.141%	$31.2M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.172	+0.263%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.081	+0.165%	$338K	$998K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.040	+0.121%	$665K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.895	−0.035%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.870	−0.062%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.802	−0.136%	$79K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.852	−0.082%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.825	−0.111%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.155	+0.244%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.829	−0.107%	$18.3M	$42.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.816	−0.120%	$395K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0108%	4h	92.971	+0.046%	$5.0M	$29.0M	30x	as long as short
HTX HYPE-USDT	+0.0115%	4h	92.965	+0.040%	$1.4M	$6.1M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	92.850	−0.084%	$4.8M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	92.800	−0.138%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0269%	8h	92.920	−0.009%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]short	L +0.0330% / S −0.0156%	1h	92.855	−0.079%	$1.4M	—	100x
Deribit HYPE_USDC-PERPETUALlong	+0.0331%	1h	92.928	long leg	$7.4M	$4.4M	50x
BloFin HYPE-USDT	+0.0335%	4h	92.971	+0.046%	$16.9M	$11.5M	75x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	92.957	+0.032%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.390	+0.497%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0689%	1h	92.914	−0.016%	$20.6M	$29.9M	50x	as long as short