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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 00:00 UTC+0.0173%/8h= +18.9% APRnext payment +$0.22 per $10,000 · paid last 24h +0.039%
Price spread now: Derive against Hotstuff−0.203%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on HotstuffShort on Derive
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories
Funding pays, the price is against you. Derive is 0.203% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.203% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 3.9 days of funding at the current rate (+$5 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHotstuff HYPE-PERP94.249−0.0080get 0.0010% / 1h42m 48s$3K$33125x
ShortDerive HYPE-PERP94.0570.0093get 0.0012% / 1h42m 48s$16.5M$7.1M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Derive against Hotstuff. 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
$36.25
Price spread: −0.203% → 0.000%
−$20.35
Slippage, 4 orders
no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders
−$5
Fee Derive: 3 bp × 2 orders
−$6
Net
$4.9
Costs to cover
0.110%
Break-even
6.1 days
Slippage unknown: Hotstuff: no order-book sample; Derive: 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 Hotstuff no order-book sample—————
Sell Derive no order-book sample—————
Hotstuff and 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.0616%1h94.235−0.015%$199K$230K7xas long as short
Aftermath Perps HYPEUSD−0.0425%1h94.145−0.110%$22K$22K10xas long as short
Arcus HYPE-USD−0.0233%1h94.163−0.091%$1.2M$3.8M10xas long as short
Hotstuff HYPE-PERPlong−0.0080%1h94.249long leg$3K$33125x
dYdX HYPE-USD0.0000%1h94.244−0.006%$128K$30K5xas long as short
Perpl HYPE0.0000%43m94.248−0.001%$23K$329K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h94.134−0.122%$27K—150xas long as short
Phoenix HYPE+0.0009%1h94.301+0.055%$216K$1.2M10xas long as short
Orderly PERP_HYPE_USDC+0.0010%4h94.132−0.124%$163K$572K20xas long as short
Ondo Perps HYPE-USD.P+0.0010%1h94.150−0.105%$705K$909K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit HYPEUSDT+0.0020%8h94.040−0.222%$323.9M$282.5M75xas long as short
01 Exchange HYPEUSD+0.0040%1h94.258+0.010%$87K$364K20xas long as short
Aster HYPEUSDT+0.0042%4h94.106−0.152%$8.9M$35.9M300xas long as short
Phemex HYPEUSDT+0.0053%8h94.114−0.143%$12.8M$2.6M50xas long as short
Gate HYPE_USDT+0.0072%4h94.053−0.208%$44.2M$58.4M75xas long as short
Binance HYPEUSDT+0.0077%4h94.051−0.210%$385.0M$891.3M75xas long as short
MEXC HYPE_USDT+0.0078%4h94.065−0.195%$88.9M$81.2M100xas long as short
edgeX HYPEUSDC+0.0087%4h94.189−0.064%$5.1M$29.9M30xas long as short
Derive HYPE-PERPshort+0.0093%1h94.057−0.203%$16.5M$7.1M10x
Lighter HYPE+0.0096%1h94.113−0.144%$19.0M$59.6M20xas long as short
Lighter RH HYPE+0.0096%1h94.108−0.150%$3.1M$12.3M20xas long as short
Popdex HYPEUSDT+0.0096%1h94.250+0.001%$64K$1.2M50xas long as short
Paradex HYPE-USD-PERP+0.0099%8h94.248−0.001%$342K$171K20xas long as short
Katana Perps HYPE-USD+0.0100%8h94.250+0.001%$29K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h94.243−0.007%$5.8M$44.3M10xas long as short
Pacifica HYPE+0.0100%1h94.262+0.014%$10.2M$14.5M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h94.038−0.224%$116.0M$319.8M50xas long as short
Bulk HYPE-USD+0.0100%1h94.095−0.163%$205K$7K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h94.094−0.164%$47.2M$18.4M75xas long as short
Bitget HYPEUSDT+0.0100%4h94.049−0.212%$227.8M$102.8M75xas long as short
BingX HYPE-USDT+0.0100%4h94.058−0.203%—$54.0M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h94.103−0.155%$7.9M$10.5M20xas long as short
Variational Omni HYPE+0.0100%8h94.203−0.049%$31.9M$53.2M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h94.223−0.028%$7.6M$45.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h94.200−0.052%$336K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h94.203−0.049%$681K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h94.272+0.025%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h94.271+0.023%$498K$2.5M20xas long as short
Bullet HYPE-USD+0.0100%1h94.074−0.186%$112K$579K20xas long as short
Bluefin HYPE-PERP+0.0100%1h94.103−0.155%$76K$167K20xas long as short
SunX HYPE-USDT+0.0100%4h94.085−0.174%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h94.070−0.190%$2.0M$2.0M10xas long as short
Injective HYPE/USDC PERP+0.0104%1h94.160−0.094%$31K$338K12xas long as short
Extended HYPE-USD+0.0104%1h94.037−0.225%$18.4M$42.6M50xas long as short
Aevo HYPE-PERP+0.0104%1h94.106−0.152%$400K$318K20xas long as short
Kalshi KXHYPEPERP+0.0132%8h94.172−0.082%$1.9M$5.0M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h94.110−0.147%$4.9M$5.7M50xas long as short
HTX HYPE-USDT+0.0228%4h94.250+0.001%$1.5M$7.8M75xas long as short
Reya HYPERUSDPERP+0.0248%1h94.154−0.101%$77K$142K15xas long as short
RISEx HYPE/USDC+0.0284%1h94.301+0.056%$2.8M$6.9M20xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0292%1h94.165−0.089%$7.4M$4.6M50xas long as short
BloFin HYPE-USDT+0.0309%4h94.057−0.204%$17.0M$12.6M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0341% / S −0.0165%1h94.158−0.096%$1.4M—100xas long as short
Hyperliquid HYPE+0.0518%1h94.129−0.127%$2.05B$668.7M10xas long as short
Kraken Futures PF_HYPEUSD+0.0576%1h94.170−0.083%$21.0M$29.2M50xas long as short