HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0078%/8h= −8.5% APRnext payment −$0.10 per $10,000 · paid last 24h −0.017%

Price spread now: Derive against Pacifica−0.187%279s7-day average −0.053% · you buy dearer than you sell

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

Long on Pacifica Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 4 days (all we have)+0.117%+$12 · spread now −0.187%, 7d avg −0.053%

Together, before fees+0.177%+ Points / potential airdropPacifica: Active · farm board+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Derive is 0.134% cheaper against Pacifica than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.053%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.060%, so the current rate has only just turned against you. The two prices were read 279 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica HYPE	94.869	0.0100	pay 0.0013% / 1h	51m 48s	$10.2M	$14.8M	20x
Short	Derive HYPE-PERP	94.691	0.0022	get 0.0003% / 1h	51m 48s	$16.4M	$7.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Pacifica. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PacificabpFee DerivebpOrdersPrice spread, now −0.187%Rate

Funding earned: −$16.39
Price spread: −0.187% → −0.053%: −$13.4
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Derive: 3 bp × 2 orders: −$6
Net: −$43.78
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 2 min ago; 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Pacifica live order book, 2 min ago	0.05 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

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	−0.1432%	1h	94.783	−0.091%	$208K	$267K	7x	as long as short
Phemex HYPEUSDT	−0.0429%	8h	94.781	−0.093%	$12.9M	$2.9M	50x	as long as short
Bluefin HYPE-PERP	−0.0323%	1h	94.789	−0.084%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0320%	1h	94.714	−0.164%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0149%	1h	94.818	−0.054%	$112K	$576K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.825	−0.046%	$1.0M	$3.5M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.756	−0.119%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0074%	1h	94.810	−0.062%	$714K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	94.869	0.000%	$88K	$364K	20x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.847	−0.023%	$20.3M	$30.3M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.791	−0.082%	$147K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.808	−0.065%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.899	+0.032%	$1.9M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.846	−0.024%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.763	−0.112%	$124K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.810	−0.062%	$208K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0012%	4h	94.813	−0.059%	$227.4M	$99.6M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.880	+0.012%	$4.7M	$6.2M	50x	as long as short
Derive HYPE-PERPshort	+0.0022%	1h	94.691	−0.187%	$16.4M	$7.4M	10x
Paradex HYPE-USD-PERP	+0.0051%	8h	94.873	+0.004%	$339K	$154K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0064%	8h	94.786	−0.087%	$118.2M	$327.6M	50x	as long as short
Bybit HYPEUSDT	+0.0067%	8h	94.786	−0.087%	$317.4M	$289.1M	75x	as long as short
Vest HYPE-PERP	+0.0069%	1h	94.911	+0.045%	—	$190K	5x	as long as short
Lighter HYPE	+0.0080%	1h	94.818	−0.054%	$16.3M	$61.8M	20x	as long as short
edgeX HYPEUSDC	+0.0083%	4h	94.539	−0.348%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.821	−0.051%	$3.2M	$10.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.853	−0.017%	$144K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.840	−0.031%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.840	−0.030%	$7.3M	$52.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.924	+0.058%	$2.09B	$688.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.801	−0.072%	$9.6M	$37.4M	300x	as long as short
Pacifica HYPElong	+0.0100%	1h	94.869	long leg	$10.2M	$14.8M	20x
Binance HYPEUSDT	+0.0100%	4h	94.798	−0.074%	$380.7M	$934.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.685	−0.194%	$219K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.808	−0.064%	$51.0M	$53.7M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.812	−0.060%	$93.8M	$84.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.794	−0.079%	$46.9M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.790	−0.083%	—	$53.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.795	−0.078%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.549	−0.337%	$29.9M	$55.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.656	−0.225%	$7.6M	$44.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.534	−0.353%	$351K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.821	−0.051%	$694K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.922	+0.056%	$501K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.905	+0.038%	$33K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.807	−0.065%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.972	+0.109%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.791	−0.082%	$18.4M	$43.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.830	−0.042%	$401K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.889	+0.022%	$3.2M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	94.950	+0.085%	$31K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.803	−0.069%	$83K	$118K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0277%	1h	94.894	+0.026%	$7.5M	$4.3M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	94.881	+0.012%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.800	−0.073%	$17.2M	$12.5M	75x	as long as short