HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0042%/8h= −4.6% APRnext payment −$0.05 per $10,000 · paid last 24h −0.015%

Price spread now: Derive against Polymarket Perps−0.027%50s7-day average −0.030% · you buy dearer than you sell

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

Long on Polymarket Perps Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 3 days (all we have)−0.013%−$1 · spread now −0.027%, 7d avg −0.030%

Together, before fees+0.010%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.030%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 50 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	Polymarket Perps HYPE-USD	93.326	0.0100	pay 0.0013% / 1h	46m 35s	$467K	$2.5M	20x
Short	Derive HYPE-PERP	93.301	0.0058	get 0.0007% / 1h	46m 35s	$16.2M	$7.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Polymarket Perps. 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

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee DerivebpOrdersPrice spread, now −0.027%Rate

Funding earned: −$8.87
Price spread: −0.027% → −0.030%: $0.24
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Derive: 3 bp × 2 orders: −$6
Net: −$22.63
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: 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 Polymarket Perps live order book, 2 min ago	1.13 bp	5.3 bp −$5	6.2 bp −$62	11.8 bp −$1,179	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	−0.1048%	1h	93.365	+0.042%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.182	−0.154%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0184%	1h	93.371	+0.048%	$22K	$21K	10x	as long as short
Backpack HYPE_USDC_PERP	−0.0125%	1h	93.296	−0.032%	$7.8M	$10.6M	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0124%	1h	93.240	−0.092%	$698K	$977K	10x	as long as short
Gate HYPE_USDT	−0.0084%	4h	93.305	−0.023%	$44.2M	$53.9M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.376	+0.054%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.315	−0.012%	$84K	$361K	20x	as long as short
Phemex HYPEUSDT	−0.0064%	8h	93.331	+0.005%	$12.7M	$2.7M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0052%	4h	93.304	−0.024%	$158K	$646K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0026%	4h	93.356	+0.032%	$8.9M	$36.2M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.318	−0.009%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.325	−0.001%	$22K	$333K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.382	+0.060%	$26K	—	150x	as long as short
Bybit HYPEUSDT	+0.0011%	8h	93.290	−0.039%	$319.2M	$283.2M	75x	as long as short
BingX HYPE-USDT	+0.0016%	4h	93.297	−0.031%	—	$54.3M	—	as long as short
Bullet HYPE-USD	+0.0029%	1h	93.346	+0.022%	$111K	$579K	20x	as long as short
Bluefin HYPE-PERP	+0.0033%	1h	93.337	+0.012%	$79K	$174K	20x	as long as short
MEXC HYPE_USDT	+0.0044%	4h	93.305	−0.023%	$88.2M	$82.4M	100x	as long as short
Binance HYPEUSDT	+0.0044%	4h	93.298	−0.030%	$380.3M	$905.1M	75x	as long as short
Derive HYPE-PERPshort	+0.0058%	1h	93.301	−0.027%	$16.2M	$7.6M	10x
Phoenix HYPE	+0.0060%	1h	93.190	−0.146%	$212K	$1.2M	10x	as long as short
edgeX HYPEUSDC	+0.0062%	4h	93.437	+0.119%	$5.1M	$29.9M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0064%	8h	93.301	−0.027%	$115.0M	$315.4M	50x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.345	+0.020%	$397K	$177K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.341	+0.016%	$16.4M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.356	+0.032%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.329	+0.003%	$65K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.397	+0.076%	$339K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.360	+0.036%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.284	−0.045%	$6.6M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.404	+0.084%	$2.04B	$675.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.345	+0.020%	$10.0M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.404	+0.083%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.365	+0.042%	$46.0M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.301	−0.027%	$225.8M	$100.7M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.281	−0.049%	$30.9M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.420	+0.101%	$7.5M	$47.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.460	+0.144%	$338K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.428	+0.109%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.356	+0.032%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDlong	+0.0100%	1h	93.326	long leg	$467K	$2.5M	20x
SunX HYPE-USDT	+0.0100%	4h	93.416	+0.096%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.304	−0.024%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.257	−0.073%	$18.4M	$44.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.380	+0.058%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.250	−0.081%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0175%	4h	93.407	+0.087%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.367	+0.044%	$2.7M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0253%	1h	93.290	−0.039%	$79K	$142K	15x	as long as short
HTX HYPE-USDT	+0.0259%	4h	93.490	+0.176%	$1.4M	$6.1M	75x	as long as short
Kalshi KXHYPEPERP	+0.0259%	8h	93.441	+0.123%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0158%	1h	93.379	+0.057%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0489%	1h	93.392	+0.071%	$7.5M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0683%	1h	93.374	+0.052%	$20.8M	$30.0M	50x	as long as short