HYPE

Alert

Funding spread now, next payment 16:00 UTC−0.0041%/8h

next payment, per $10,000−$0.05paid, last 24h−0.082%paid, last 3 days−0.115%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX HYPE/USD [WBTC.b-USDC]	93.208	L +0.0349% / S −0.0167%	pay 0.0044% / 1h	59m 32s	$1.5M	—	100x
Short	Deribit HYPE_USDC-PERPETUAL	93.267	0.0308	get 0.0038% / 1h	59m 32s	$7.3M	$4.6M	50x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee GMXbpFee DeribitbpOrdersRate

Funding earned: −$8.55
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$27.55
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Deribit: live order book, 1 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.064%
Avg gap 7d: +0.020%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 GMX no order-book sample	—	—	—	—	—
Sell Deribit live order book, 1 min ago	0.86 bp	6.6 bp −$7	10.6 bp −$106	doesn't fit	doesn't fit

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 53 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Hotstuff HYPE-PERP	−0.0080%	1h	$3K	$307	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0076%	4h	$170K	$374K	20x	as long as short
BingX HYPE-USDT	−0.0012%	4h	—	$52.3M	—	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	$18K	—	150x	as long as short
OKX HYPE-USDT-SWAP	+0.0032%	8h	$115.4M	$312.9M	50x	as long as short
01 Exchange HYPEUSD	+0.0032%	1h	$88K	$309K	20x	as long as short
dYdX HYPE-USD	+0.0078%	1h	$127K	$26K	5x	as long as short
Lighter RH HYPE	+0.0096%	1h	$3.2M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	$155K	$1.1M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0096%	1h	$5.0M	$5.3M	50x	as long as short

Show all 53 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Nado HYPE-PERP	+0.0100%	1h	$5.6M	$42.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	$2.01B	$611.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	$8.8M	$35.6M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	$11.3M	$12.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	$395.6M	$831.0M	75x	as long as short
Bybit HYPEUSDT	+0.0100%	8h	$325.9M	$284.6M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	$699K	$971K	10x	as long as short
Arcus HYPE-USD	+0.0100%	1h	$1.2M	$4.2M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	$212K	$10K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	$44.2M	$52.5M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	$96.7M	$83.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	$43.7M	$20.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	$227.7M	$100.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	$8.4M	$9.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	$29.6M	$50.6M	—	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	$428K	$961K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	$705K	$2.1M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	—	$407K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	$460K	$2.4M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	$112K	$577K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	$72K	$194K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	$16.5M	$7.2M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	$2.0M	$1.9M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	$12.6M	$2.3M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	$18.2M	$42.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	$396K	$340K	20x	as long as short
edgeX HYPEUSDC	+0.0112%	4h	$5.1M	$28.2M	30x	as long as short
Kalshi KXHYPEPERP	+0.0119%	8h	$1.6M	$4.5M	2.3x	as long as short
Paradex HYPE-USD-PERP	+0.0131%	8h	$337K	$288K	20x	as long as short
Lighter HYPE	+0.0200%	1h	$18.6M	$55.4M	20x	as long as short
Perpl HYPE	+0.0223%	43m	$31K	$342K	10x	as long as short
Reya HYPERUSDPERP	+0.0226%	1h	$73K	$166K	15x	as long as short
Aftermath Perps HYPEUSD	+0.0261%	1h	$22K	$35K	10x	as long as short
Deribit HYPE_USDC-PERPETUALshort	+0.0308%	1h	$7.3M	$4.6M	50x
BloFin HYPE-USDT	+0.0340%	4h	$17.9M	$12.2M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]long	L +0.0349% / S −0.0167%	1h	$1.5M	—	100x
Phoenix HYPE	+0.0357%	1h	$296K	$1.1M	10x	as long as short
Hibachi HYPE/USDT-P	+0.0400%	1h	$206K	$192K	7x	as long as short
HTX HYPE-USDT	+0.0470%	4h	$1.5M	$6.8M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0611%	1h	$16.4M	$21.3M	50x	as long as short
RISEx HYPE/USDC	+0.0620%	1h	$2.5M	$7.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.1001%	1h	$23K	$320K	12x	as long as short