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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 21:20 UTC+0.0025%/8h= +2.7% APRpaid last 24h −0.007%
Price spread now: Perpl against Derive−0.020%53s7-day average +0.030% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on DeriveShort on Perpl
What this pair did over the last
the charts below follow
Funding, last 7 days−0.129%−$13 on $10k
Price spread, last 3 days (all we have)+0.114%+$11 · spread now −0.020%, 7d avg +0.030%
Together, before fees−0.015%+ Points / potential airdropPerpl: Active · farm board−$2 on $10k · with fees, hour by hour
Funding pays, the price is against you. Perpl is 0.050% cheaper against Derive than usual: you would sell low and buy high (spread −0.020% now, against its 7-day average of +0.030%). If the spread goes back, that is −$5 on $10k: about 6.8 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.129%, so the current rate has only just turned in your favour. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDerive HYPE-PERP93.309−0.0025get 0.0003% / 1h11m 08s$16.4M$7.1M10x
ShortPerpl HYPE93.2900get 0.0000% / 43m41m 08s$23K$337K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Perpl 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

Funding earned
$5.19
Price spread: −0.020% → +0.030%
−$5.01
Slippage, 4 orders
no order book: not counted
Fee Derive: 3 bp × 2 orders
−$6
Fee Perpl: 6.9 bp × 2 orders
−$13.8
Net
−$19.62
Costs to cover
0.198%
Break-even
33.4 days
Slippage unknown: Derive: no order-book sample; Perpl: 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
LegHalf-spread$10k$100k$1M$5M
Buy Derive no order-book sample—————
Sell Perpl no order-book sample—————
Derive and Perpl: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.0920%1h93.381+0.077%$197K$233K7xas long as short
Aftermath Perps HYPEUSD−0.0255%1h93.542+0.250%$22K$22K10xas long as short
Ondo Perps HYPE-USD.P−0.0234%1h93.410+0.108%$700K$932K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.337+0.030%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0072%1h93.305−0.004%$90K$351K20xas long as short
Derive HYPE-PERPlong−0.0025%1h93.309long leg$16.4M$7.1M10x
Bullet HYPE-USD−0.0016%1h93.307−0.002%$111K$581K20xas long as short
dYdX HYPE-USD0.0000%1h93.383+0.079%$127K$32K5xas long as short
Perpl HYPEshort0.0000%43m93.290−0.020%$23K$337K10x
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.335+0.028%$20K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0011%4h93.299−0.011%$8.9M$35.8M300xas long as short
Gate HYPE_USDT+0.0024%4h93.300−0.010%$43.9M$57.6M75xas long as short
Bybit HYPEUSDT+0.0031%8h93.288−0.023%$324.9M$287.2M75xas long as short
Popdex HYPEUSDT+0.0040%1h93.287−0.024%$58K$1.2M50xas long as short
Orderly PERP_HYPE_USDC+0.0056%4h93.307−0.002%$163K$543K20xas long as short
Phoenix HYPE+0.0068%1h93.605+0.317%$216K$1.2M10xas long as short
Lighter HYPE+0.0096%1h93.331+0.023%$18.6M$59.8M20xas long as short
Lighter RH HYPE+0.0096%1h93.322+0.014%$3.1M$12.4M20xas long as short
SoDEX HYPE-USD+0.0097%1h93.287−0.024%$2.0M$2.0M10xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.308−0.001%$339K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.320+0.012%$37K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.286−0.024%$5.9M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.393+0.090%$2.03B$671.0M10xas long as short
Pacifica HYPE+0.0100%1h93.307−0.002%$10.0M$14.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.305−0.004%$385.2M$889.8M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.295−0.015%$114.5M$315.0M50xas long as short
Arcus HYPE-USD+0.0100%1h93.271−0.041%$1.2M$4.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.285−0.026%$204K$12K10xas long as short
MEXC HYPE_USDT+0.0100%4h93.288−0.023%$93.2M$82.4M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.303−0.006%$46.2M$18.7M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.312+0.003%$226.7M$102.5M75xas long as short
BingX HYPE-USDT+0.0100%4h93.299−0.011%—$54.2M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.335+0.028%$7.9M$11.7M20xas long as short
Variational Omni HYPE+0.0100%8h93.561+0.270%$29.2M$50.1M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.439+0.139%$7.5M$45.2M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.558+0.267%$406K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.510+0.215%$676K$2.5M20xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.330+0.022%$493K$2.6M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.285−0.026%$75K$168K20xas long as short
SunX HYPE-USDT+0.0100%4h93.369+0.064%$32K$1.6M20xas long as short
Phemex HYPEUSDT+0.0100%8h93.345+0.039%$12.7M$2.6M50xas long as short
Vest HYPE-PERP+0.0100%1h93.344+0.037%—$454K5xas long as short
Extended HYPE-USD+0.0104%1h93.275−0.037%$18.3M$41.4M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.347+0.040%$397K$318K20xas long as short
Kalshi KXHYPEPERP+0.0108%8h93.396+0.093%$1.9M$5.3M2.3xas long as short
edgeX HYPEUSDC+0.0118%4h93.534+0.242%$5.1M$29.7M30xas long as short
Coinbase International HYPE-PERP-INTX+0.0208%1h93.390+0.087%$4.9M$5.7M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0243%1h93.405+0.103%$7.4M$4.6M50xas long as short
Reya HYPERUSDPERP+0.0246%1h93.286−0.025%$78K$158K15xas long as short
Injective HYPE/USDC PERP+0.0285%1h93.910+0.644%$31K$291K12xas long as short
HTX HYPE-USDT+0.0297%4h93.487+0.191%$1.5M$7.7M75xas long as short
BloFin HYPE-USDT+0.0340%4h93.289−0.021%$17.1M$12.4M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0346% / S −0.0171%1h93.337+0.030%$1.5M—100xas long as short
RISEx HYPE/USDC+0.0467%1h93.365+0.059%$2.7M$6.8M20xas long as short
Kraken Futures PF_HYPEUSD+0.0574%1h93.412+0.110%$19.1M$26.1M50xas long as short