HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1048%/8h= −114.8% APRnext payment −$1.31 per $10,000 · paid last 24h −0.066%

Price spread now: Arcus against Derive−0.043%7-day average −0.008% · you buy dearer than you sell

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

Long on Derive Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.082%−$8 on $10k

Price spread, last 4 days (all we have)+0.137%+$14 · spread now −0.043%, 7d avg −0.008%

Together, before fees+0.056%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$31 a day on $10k at the current rate, and Arcus is 0.035% cheaper against Derive than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.008%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.082% in total (about -8.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.31 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	Derive HYPE-PERP	92.722	0.0100	pay 0.0013% / 1h	22m 18s	$16.1M	$7.5M	10x
Short	Arcus HYPE-USD	92.682	−0.0948	pay 0.0119% / 1h	22m 18s	$1.1M	$3.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Derive. 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 DerivebpFee ArcusbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$220.09
Price spread: −0.043% → −0.008%: −$3.49
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$234.08
Costs to cover: 0.105%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Arcus: live order book, 2 min ago. 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 Derive no order-book sample	—	—	—	—	—
Sell Arcus live order book, 2 min ago	1.84 bp	4.5 bp −$4	7.5 bp −$75	25.3 bp −$2,529	doesn't fit

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
Arcus HYPE-USDshort	−0.0948%	1h	92.682	−0.043%	$1.1M	$3.9M	10x
Hibachi HYPE/USDT-P	−0.0248%	1h	92.684	−0.040%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0226%	1h	92.649	−0.078%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.679	−0.046%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.702	−0.021%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	92.787	+0.071%	$87K	$359K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.770	+0.053%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.736	+0.016%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.757	+0.038%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0020%	8h	92.672	−0.054%	$12.5M	$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
Bullet HYPE-USD	+0.0027%	1h	92.725	+0.004%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	+0.0033%	1h	92.640	−0.088%	$697K	$1.1M	10x	as long as short
Aster HYPEUSDT	+0.0036%	4h	92.720	−0.002%	$8.7M	$36.3M	300x	as long as short
BingX HYPE-USDT	+0.0040%	4h	92.739	+0.019%	—	$53.4M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.652	−0.075%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0050%	8h	92.700	−0.023%	$316.6M	$281.9M	75x	as long as short
Gate HYPE_USDT	+0.0086%	4h	92.718	−0.004%	$44.5M	$55.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0086%	8h	92.719	−0.003%	$113.6M	$304.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.762	+0.043%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.751	+0.031%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.750	+0.031%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.762	+0.044%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.710	−0.013%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.715	−0.008%	$6.8M	$45.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.769	+0.051%	$2.02B	$662.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.772	+0.054%	$10.0M	$15.1M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.749	+0.030%	$372.5M	$904.7M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.744	+0.024%	$87.5M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.756	+0.037%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.725	+0.004%	$224.5M	$98.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.659	−0.068%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.628	−0.101%	$28.5M	$57.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.667	−0.059%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.679	−0.046%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.691	−0.033%	$665K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.773	+0.055%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.752	+0.033%	$465K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.716	−0.006%	$79K	$170K	20x	as long as short
Derive HYPE-PERPlong	+0.0100%	1h	92.722	long leg	$16.1M	$7.5M	10x
SunX HYPE-USDT	+0.0100%	4h	92.732	+0.011%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.753	+0.034%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.900	+0.192%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.701	−0.022%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.707	−0.016%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.734	+0.014%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0117%	4h	92.646	−0.081%	$5.0M	$29.5M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.300%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.780	+0.063%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0242%	8h	92.827	+0.114%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0262%	1h	92.737	+0.017%	$79K	$133K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.741	+0.021%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.811	+0.096%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.691	−0.033%	$16.6M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0397%	1h	92.826	+0.113%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.823	+0.110%	$3.2M	$6.4M	20x	as long as short