HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0023%/8h= +2.5% APRnext payment +$0.03 per $10,000 · paid last 24h −0.007%

Price spread now: Derive against Bullet−0.022%7-day average −0.040% · you buy dearer than you sell

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

Long on Bullet Short on Derive

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.017%−$2 on $10k

Price spread, last 3 days (all we have)−0.028%−$3 · spread now −0.022%, 7d avg −0.040%

Together, before fees−0.044%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.040%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet HYPE-USD	93.253	0.0077	pay 0.0010% / 1h	0m 36s	$111K	$578K	20x
Short	Derive HYPE-PERP	93.233	0.0100	get 0.0013% / 1h	0m 36s	$16.2M	$7.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Bullet. 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 BulletbpFee DerivebpOrdersPrice spread, now −0.022%Rate

Funding earned: $4.82
Price spread: −0.022% → −0.040%: $1.83
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Derive: 3 bp × 2 orders: −$6
Net: −$7.35
Costs to cover: 0.140%
Break-even: 17.7 days

Slippage unknown: Bullet: live order book, 4 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 Bullet live order book, 4 min ago	0.48 bp	6.0 bp −$6	12.1 bp −$121	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 54 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	−0.1128%	1h	93.234	−0.020%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.115	−0.148%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.229	−0.026%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0065%	1h	93.220	−0.035%	$698K	$904K	10x	as long as short
Phemex HYPEUSDT	−0.0052%	8h	93.290	+0.040%	$12.6M	$2.7M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0051%	4h	93.258	+0.006%	$156K	$640K	20x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.227	−0.028%	$84K	$346K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0012%	1h	93.422	+0.181%	$22K	$21K	10x	as long as short
Aster HYPEUSDT	−0.0003%	4h	93.228	−0.027%	$8.8M	$35.5M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.294	+0.044%	$128K	$31K	5x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.260	+0.007%	$22K	$321K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.273	+0.022%	$25K	—	150x	as long as short
BingX HYPE-USDT	+0.0012%	4h	93.226	−0.029%	—	$53.2M	—	as long as short
Gate HYPE_USDT	+0.0014%	4h	93.216	−0.040%	$44.4M	$55.9M	75x	as long as short
Bybit HYPEUSDT	+0.0016%	8h	93.180	−0.078%	$319.6M	$276.0M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0021%	1h	93.223	−0.032%	$7.4M	$10.4M	20x	as long as short
Phoenix HYPE	+0.0060%	1h	93.424	+0.184%	$210K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	93.207	−0.049%	$114.5M	$300.8M	50x	as long as short
Bullet HYPE-USDlong	+0.0077%	1h	93.253	long leg	$111K	$578K	20x
MEXC HYPE_USDT	+0.0078%	4h	93.223	−0.032%	$88.0M	$83.5M	100x	as long as short
Binance HYPEUSDT	+0.0079%	4h	93.205	−0.051%	$379.2M	$874.9M	75x	as long as short
edgeX HYPEUSDC	+0.0083%	4h	93.380	+0.137%	$5.0M	$30.0M	30x	as long as short
Bluefin HYPE-PERP	+0.0094%	1h	93.201	−0.056%	$79K	$170K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.252	−0.001%	$16.3M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.242	−0.012%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.234	−0.020%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.271	+0.020%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.250	−0.003%	$12K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.222	−0.033%	$5.7M	$43.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.336	+0.089%	$2.04B	$657.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.254	+0.001%	$10.0M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.335	+0.088%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.233	−0.021%	$46.1M	$18.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.223	−0.032%	$225.6M	$96.9M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.219	−0.037%	$31.1M	$54.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.419	+0.178%	$7.5M	$46.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.390	+0.147%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.362	+0.117%	$666K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.272	+0.020%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.286	+0.036%	$474K	$2.4M	20x	as long as short
Derive HYPE-PERPshort	+0.0100%	1h	93.233	−0.022%	$16.2M	$7.6M	10x
SunX HYPE-USDT	+0.0100%	4h	93.358	+0.113%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.237	−0.017%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.201	−0.056%	$18.3M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.254	+0.001%	$397K	$172K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.350	+0.104%	$4.9M	$5.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	94.180	+0.994%	$31K	$339K	12x	as long as short
HTX HYPE-USDT	+0.0201%	4h	93.450	+0.211%	$1.4M	$5.9M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.314	+0.066%	$3.2M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0256%	1h	93.234	−0.020%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0278%	8h	93.306	+0.057%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.270	+0.019%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0415%	1h	93.349	+0.103%	$7.4M	$4.4M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0683%	1h	93.331	+0.083%	$20.8M	$30.0M	50x	as long as short