Funding you earn now, next payment 01:00 UTC+0.0083%/8h= +9.1% APRnext payment +$0.10 per $10,000 · paid last 24h +0.068%
Price spread now: Hyperliquid against Derive+0.137%7-day average +0.080% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.092%+$9 on $10k
+Price spread, last 3 days (all we have)−0.074%−$7 · spread now +0.137%, 7d avg +0.080%
=Together, before fees+0.018%+ Points / potential airdropHyperliquid: Season 2 · farm board+$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.057% dearer against Derive than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.080%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive HYPE-PERP | 93.891 | 0.0017 | pay 0.0002% / 1h | 11m 14s | $16.4M | $7.3M | 10x |
| Short | Hyperliquid HYPE | 94.020 | 0.0100 | get 0.0013% / 1h | 11m 14s | $2.05B | $676.6M | 10x |
Derive HYPE-PERP
Hyperliquid HYPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Derive. 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
- $17.46
- Price spread: +0.137% → +0.080%
- $5.65
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $8.11
- Costs to cover
- 0.150%
- Break-even
- 3.7 days
Slippage unknown: Derive: no order-book sample; Hyperliquid: live order book, 13 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 Hyperliquid live order book, 13 min ago | 0.05 bp | 4.9 bp −$5 | 5.0 bp −$50 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi HYPE/USDT-P | −0.1184% | 1h | 93.935 | +0.046% | $199K | $228K | 7x | as long as short |
| Arcus HYPE-USD | −0.0625% | 1h | 93.859 | −0.035% | $1.2M | $3.9M | 10x | as long as short |
| Aftermath Perps HYPEUSD | −0.0204% | 1h | 93.946 | +0.059% | $22K | $21K | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0108% | 1h | 93.870 | −0.023% | $710K | $960K | 10x | as long as short |
| dYdX HYPE-USD | −0.0093% | 1h | 94.002 | +0.117% | $129K | $31K | 5x | as long as short |
| Phemex HYPEUSDT | −0.0089% | 8h | 93.940 | +0.052% | $12.8M | $2.6M | 50x | as long as short |
| 01 Exchange HYPEUSD | −0.0080% | 1h | 93.970 | +0.084% | $86K | $359K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.964 | +0.077% | $3K | $331 | 25x | as long as short |
| Bullet HYPE-USD | −0.0054% | 1h | 93.970 | +0.084% | $113K | $581K | 20x | as long as short |
| Gate HYPE_USDT | −0.0034% | 4h | 93.944 | +0.056% | $44.5M | $60.3M | 75x | as long as short |
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Aftermath Perps HYPEUSD
Ondo Perps HYPE-USD.P
dYdX HYPE-USD
Phemex HYPEUSDT
01 Exchange HYPEUSD
Hotstuff HYPE-PERP
Bullet HYPE-USD
Gate HYPE_USDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_HYPE_USDC | −0.0028% | 4h | 93.908 | +0.018% | $159K | $643K | 20x | as long as short |
| Bybit HYPEUSDT | 0.0000% | 8h | 93.930 | +0.041% | $323.3M | $279.9M | 75x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.946 | +0.058% | $23K | $327K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0003% | 1h | 93.980 | +0.094% | $26K | — | 150x | as long as short |
| Aster HYPEUSDT | +0.0009% | 4h | 93.956 | +0.069% | $8.9M | $36.1M | 300x | as long as short |
| Derive HYPE-PERPlong | +0.0017% | 1h | 93.891 | long leg | $16.4M | $7.3M | 10x | |
| Phoenix HYPE | +0.0034% | 1h | 94.071 | +0.191% | $218K | $1.2M | 10x | as long as short |
| Binance HYPEUSDT | +0.0052% | 4h | 93.943 | +0.055% | $383.5M | $894.4M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0052% | 4h | 93.943 | +0.055% | $88.5M | $83.3M | 100x | as long as short |
| edgeX HYPEUSDC | +0.0058% | 4h | 93.999 | +0.114% | $5.1M | $30.1M | 30x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0074% | 8h | 93.936 | +0.047% | $116.1M | $315.4M | 50x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.967 | +0.081% | $19.0M | $60.5M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.965 | +0.078% | $3.0M | $12.2M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.966 | +0.079% | $65K | $1.2M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0096% | 1h | 93.977 | +0.091% | $400K | $180K | 20x | as long as short |
| Paradex HYPE-USD-PERP | +0.0099% | 8h | 93.987 | +0.102% | $341K | $165K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.960 | +0.073% | $29K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.921 | +0.032% | $6.6M | $44.7M | 10x | as long as short |
| Hyperliquid HYPEshort | +0.0100% | 1h | 94.020 | +0.137% | $2.05B | $676.6M | 10x | |
| Pacifica HYPE | +0.0100% | 1h | 93.987 | +0.102% | $10.2M | $14.6M | 20x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.528 | −0.387% | $204K | $12K | 10x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.935 | +0.046% | $46.7M | $18.3M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.943 | +0.055% | $227.5M | $100.3M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.942 | +0.054% | — | $54.1M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.947 | +0.059% | $7.8M | $10.3M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.920 | +0.030% | $31.4M | $53.7M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 94.053 | +0.172% | $7.6M | $46.1M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 94.061 | +0.181% | $340K | $1.1M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 94.040 | +0.158% | $671K | $2.6M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 94.005 | +0.121% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.996 | +0.111% | $475K | $2.5M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.933 | +0.044% | $76K | $170K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 94.048 | +0.167% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.934 | +0.045% | $2.0M | $2.0M | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.913 | +0.023% | $18.4M | $45.2M | 50x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0144% | 1h | 94.000 | +0.116% | $4.9M | $5.5M | 50x | as long as short |
| Injective HYPE/USDC PERP | +0.0205% | 1h | 94.490 | +0.637% | $31K | $338K | 12x | as long as short |
| BloFin HYPE-USDT | +0.0208% | 4h | 93.959 | +0.072% | $17.0M | $12.1M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0222% | 1h | 94.005 | +0.121% | $2.7M | $6.7M | 20x | as long as short |
| Kalshi KXHYPEPERP | +0.0238% | 8h | 94.035 | +0.153% | $1.9M | $5.1M | 2.3x | as long as short |
| Reya HYPERUSDPERP | +0.0252% | 1h | 93.960 | +0.073% | $79K | $143K | 15x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0335% / S −0.0158% | 1h | 93.975 | +0.089% | $1.4M | — | 100x | as long as short |
| HTX HYPE-USDT | +0.0373% | 4h | 94.120 | +0.243% | $1.5M | $5.9M | 75x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0484% | 1h | 94.031 | +0.149% | $7.5M | $4.7M | 50x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0672% | 1h | 94.010 | +0.126% | $21.0M | $29.8M | 50x | as long as short |
Orderly PERP_HYPE_USDC
Bybit HYPEUSDT
Perpl HYPE
gTrade (Gains Network) HYPE/USD
Aster HYPEUSDT
Phoenix HYPE
Binance HYPEUSDT
MEXC HYPE_USDT
edgeX HYPEUSDC
OKX HYPE-USDT-SWAP
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Aevo HYPE-PERP
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Pacifica HYPE
Bulk HYPE-USD
KuCoin HYPEUSDTM
Bitget HYPEUSDT
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
Extended HYPE-USD
Coinbase International HYPE-PERP-INTX
Injective HYPE/USDC PERP
BloFin HYPE-USDT
RISEx HYPE/USDC
Kalshi KXHYPEPERP
Reya HYPERUSDPERP
GMX HYPE/USD [WBTC.b-USDC]
HTX HYPE-USDT
Deribit HYPE_USDC-PERPETUAL
Kraken Futures PF_HYPEUSD