Funding you earn now, next payment 01:00 UTC+0.0117%/8h= +12.8% APRnext payment +$0.15 per $10,000 · paid last 24h −0.006%
Price spread now: Deribit against Reya+0.117%7-day average +0.067% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.004%$0 on $10k
+Price spread, last 3 days (all we have)−0.083%−$8 · spread now +0.117%, 7d avg +0.067%
=Together, before fees−0.087%+ Points / potential airdropReya: Active · farm board−$9 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Deribit is 0.050% dearer against Reya than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.067%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya HYPERUSDPERP | 93.909 | 0.0250 | pay 0.0031% / 1h | 50m 56s | $79K | $146K | 15x |
| Short | Deribit HYPE_USDC-PERPETUAL | 94.019 | 0.0367 | get 0.0046% / 1h | 50m 56s | $7.5M | $4.7M | 50x |
Reya HYPERUSDPERP
Deribit HYPE_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Reya. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $24.53
- Price spread: +0.117% → +0.067%
- $5.01
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $16.54
- Costs to cover
- 0.130%
- Break-even
- 2.3 days
Slippage unknown: Reya: no order-book sample; Deribit: live order book, 3 min ago. 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 Reya no order-book sample | — | — | — | — | — |
| Sell Deribit live order book, 3 min ago | 1.60 bp | 8.5 bp −$8 | 12.7 bp −$127 | doesn't fit | doesn't fit |
Reya: 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 | −0.1384% | 1h | 93.992 | +0.089% | $199K | $228K | 7x | as long as short |
| Arcus HYPE-USD | −0.0625% | 1h | 93.793 | −0.123% | $1.2M | $3.8M | 10x | as long as short |
| Aftermath Perps HYPEUSD | −0.0301% | 1h | 93.952 | +0.046% | $22K | $22K | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0170% | 1h | 93.850 | −0.063% | $705K | $928K | 10x | as long as short |
| Gate HYPE_USDT | −0.0142% | 4h | 93.892 | −0.018% | $44.4M | $59.1M | 75x | as long as short |
| dYdX HYPE-USD | −0.0115% | 1h | 93.917 | +0.008% | $128K | $29K | 5x | as long as short |
| Bullet HYPE-USD | −0.0114% | 1h | 93.931 | +0.024% | $113K | $580K | 20x | as long as short |
| 01 Exchange HYPEUSD | −0.0104% | 1h | 93.892 | −0.018% | $85K | $365K | 20x | as long as short |
| Phemex HYPEUSDT | −0.0098% | 8h | 93.888 | −0.022% | $12.8M | $2.6M | 50x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.950 | +0.044% | $3K | $331 | 25x | as long as short |
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Aftermath Perps HYPEUSD
Ondo Perps HYPE-USD.P
Gate HYPE_USDT
dYdX HYPE-USD
Bullet HYPE-USD
01 Exchange HYPEUSD
Phemex HYPEUSDT
Hotstuff HYPE-PERPShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit HYPEUSDT | −0.0060% | 8h | 93.890 | −0.020% | $322.9M | $283.4M | 75x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0010% | 4h | 93.920 | +0.012% | $169K | $594K | 20x | as long as short |
| Derive HYPE-PERP | 0.0000% | 1h | 93.867 | −0.045% | $16.4M | $7.2M | 10x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.937 | +0.030% | $23K | $329K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0003% | 1h | 93.962 | +0.057% | $27K | — | 150x | as long as short |
| Aster HYPEUSDT | +0.0019% | 4h | 93.916 | +0.007% | $8.9M | $36.1M | 300x | as long as short |
| Phoenix HYPE | +0.0034% | 1h | 93.829 | −0.085% | $218K | $1.2M | 10x | as long as short |
| edgeX HYPEUSDC | +0.0042% | 4h | 93.948 | +0.042% | $5.1M | $29.8M | 30x | as long as short |
| MEXC HYPE_USDT | +0.0044% | 4h | 93.898 | −0.012% | $88.1M | $81.9M | 100x | as long as short |
| Binance HYPEUSDT | +0.0045% | 4h | 93.897 | −0.013% | $383.4M | $896.7M | 75x | as long as short |
| Popdex HYPEUSDT | +0.0064% | 1h | 93.873 | −0.038% | $60K | $1.2M | 50x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0082% | 8h | 93.891 | −0.019% | $115.9M | $321.1M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0088% | 1h | 93.874 | −0.038% | $399K | $191K | 20x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.982 | +0.077% | $18.9M | $58.2M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.914 | +0.005% | $3.0M | $12.0M | 20x | as long as short |
| Paradex HYPE-USD-PERP | +0.0099% | 8h | 93.944 | +0.038% | $341K | $171K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.880 | −0.031% | $39K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.890 | −0.020% | $6.6M | $44.9M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.996 | +0.093% | $2.05B | $675.5M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.921 | +0.013% | $10.1M | $14.6M | 20x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.945 | +0.039% | $46.5M | $18.4M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.894 | −0.016% | $227.7M | $101.9M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.889 | −0.021% | — | $54.0M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.916 | +0.008% | $7.7M | $10.5M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.890 | −0.020% | $31.3M | $54.1M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.981 | +0.077% | $7.6M | $45.4M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 94.029 | +0.128% | $340K | $1.1M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 94.057 | +0.158% | $680K | $2.5M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.943 | +0.037% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.936 | +0.029% | $480K | $2.6M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.920 | +0.012% | $76K | $171K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.995 | +0.092% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.917 | +0.009% | $2.0M | $2.0M | 10x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.944 | +0.037% | $205K | $6K | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.878 | −0.033% | $18.4M | $42.5M | 50x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0144% | 1h | 93.990 | +0.086% | $4.9M | $5.5M | 50x | as long as short |
| Kalshi KXHYPEPERP | +0.0169% | 8h | 93.984 | +0.080% | $1.9M | $5.1M | 2.3x | as long as short |
| BloFin HYPE-USDT | +0.0179% | 4h | 93.916 | +0.008% | $17.0M | $12.3M | 75x | as long as short |
| Injective HYPE/USDC PERP | +0.0205% | 1h | 93.810 | −0.105% | $31K | $338K | 12x | as long as short |
| RISEx HYPE/USDC | +0.0222% | 1h | 93.921 | +0.013% | $2.8M | $6.8M | 20x | as long as short |
| Reya HYPERUSDPERPlong | +0.0250% | 1h | 93.909 | long leg | $79K | $146K | 15x | |
| HTX HYPE-USDT | +0.0309% | 4h | 94.088 | +0.191% | $1.5M | $7.4M | 75x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0338% / S −0.0157% | 1h | 93.964 | +0.058% | $1.4M | — | 100x | as long as short |
| Deribit HYPE_USDC-PERPETUALshort | +0.0367% | 1h | 94.019 | +0.117% | $7.5M | $4.7M | 50x | |
| Kraken Futures PF_HYPEUSD | +0.0672% | 1h | 94.006 | +0.104% | $21.0M | $29.7M | 50x | as long as short |
Bybit HYPEUSDT
Orderly PERP_HYPE_USDC
Derive HYPE-PERP
Perpl HYPE
gTrade (Gains Network) HYPE/USD
Aster HYPEUSDT
Phoenix HYPE
edgeX HYPEUSDC
MEXC HYPE_USDT
Binance HYPEUSDT
Popdex HYPEUSDT
OKX HYPE-USDT-SWAP
Aevo HYPE-PERP
Lighter HYPE
Lighter RH HYPE
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Bulk HYPE-USD
Extended HYPE-USD
Coinbase International HYPE-PERP-INTX
Kalshi KXHYPEPERP
BloFin HYPE-USDT
Injective HYPE/USDC PERP
RISEx HYPE/USDC
HTX HYPE-USDT
GMX HYPE/USD [WBTC.b-USDC]
Kraken Futures PF_HYPEUSD