HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0268%/8h= −29.3% APRnext payment −$0.33 per $10,000 · paid last 24h −0.025%

Price spread now: Aevo against Deribit−0.101%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$460.461% of the position

Long on Deribit Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 3 days (all we have)+0.081%+$8 · spread now −0.101%, 7d avg −0.042%

Together, before fees+0.123%+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Aevo is 0.059% cheaper against Deribit than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.042%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.043% in total (about 2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.33 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit HYPE_USDC-PERPETUAL	93.248	0.0372	pay 0.0046% / 1h	59m 57s	$7.4M	$4.4M	50x
Short	Aevo HYPE-PERP	93.154	0.0104	get 0.0013% / 1h	59m 57s	$396K	$172K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Deribit. 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 DeribitbpFee AevobpOrdersPrice spread, now −0.101%Rate

Funding earned: −$56.28
Price spread: −0.101% → −0.042%: −$5.94
Slippage, 4 orders: −$23.07
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$108.3
Costs to cover: 0.461%
Break-even: never at this rate

Slippage from Deribit: live order book, 4 min ago; Aevo: live order book, 4 min ago.

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 Deribit live order book, 4 min ago	1.50 bp	9.4 bp −$9	12.6 bp −$126	doesn't fit	doesn't fit
Sell Aevo live order book, 4 min ago	3.81 bp	14.3 bp −$14	15.4 bp −$154	17.9 bp −$1,795	doesn't fit

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	−0.015%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.115	−0.143%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.229	−0.020%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0065%	1h	93.220	−0.030%	$698K	$904K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0052%	4h	93.146	−0.109%	$155K	$640K	20x	as long as short
Phemex HYPEUSDT	−0.0045%	8h	93.193	−0.059%	$12.6M	$2.7M	50x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.227	−0.023%	$84K	$346K	20x	as long as short
Aster HYPEUSDT	−0.0003%	4h	93.163	−0.091%	$8.8M	$35.5M	300x	as long as short
Aftermath Perps HYPEUSD	−0.0003%	1h	93.396	+0.159%	$22K	$21K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.294	+0.049%	$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	93.200	−0.052%	$22K	$321K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.171	−0.083%	$25K	—	150x	as long as short
BingX HYPE-USDT	+0.0012%	4h	93.156	−0.099%	—	$53.2M	—	as long as short
Gate HYPE_USDT	+0.0014%	4h	93.150	−0.105%	$44.3M	$55.9M	75x	as long as short
Bybit HYPEUSDT	+0.0016%	8h	93.180	−0.073%	$319.6M	$275.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0023%	1h	93.134	−0.122%	$7.4M	$10.4M	20x	as long as short
Phoenix HYPE	+0.0060%	1h	93.424	+0.189%	$210K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	93.198	−0.054%	$114.3M	$300.9M	50x	as long as short
MEXC HYPE_USDT	+0.0078%	4h	93.160	−0.094%	$88.0M	$83.5M	100x	as long as short
Bullet HYPE-USD	+0.0079%	1h	93.155	−0.100%	$112K	$578K	20x	as long as short
Binance HYPEUSDT	+0.0079%	4h	93.192	−0.060%	$379.1M	$875.1M	75x	as long as short
edgeX HYPEUSDC	+0.0083%	4h	93.380	+0.142%	$5.0M	$30.0M	30x	as long as short
Bluefin HYPE-PERP	+0.0085%	1h	93.109	−0.149%	$79K	$170K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.191	−0.061%	$16.2M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.180	−0.073%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.234	−0.015%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.271	+0.025%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.250	+0.002%	$12K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.222	−0.027%	$5.7M	$43.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.263	+0.016%	$2.04B	$658.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.254	+0.006%	$10.0M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.335	+0.093%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.168	−0.086%	$46.1M	$18.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.175	−0.078%	$225.4M	$96.9M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.219	−0.031%	$31.1M	$54.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.419	+0.183%	$7.5M	$46.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.390	+0.152%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.362	+0.122%	$666K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.272	+0.025%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.235	−0.014%	$474K	$2.4M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.137	−0.119%	$16.2M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.253	+0.005%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.156	−0.099%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.165	−0.089%	$18.3M	$43.6M	50x	as long as short
Aevo HYPE-PERPshort	+0.0104%	1h	93.154	−0.101%	$396K	$172K	20x
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.200	−0.051%	$4.9M	$5.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	94.180	+0.999%	$31K	$339K	12x	as long as short
HTX HYPE-USDT	+0.0204%	4h	93.350	+0.109%	$1.4M	$5.9M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.314	+0.071%	$3.2M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0256%	1h	93.150	−0.106%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0278%	8h	93.241	−0.008%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.178	−0.075%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUALlong	+0.0372%	1h	93.248	long leg	$7.4M	$4.4M	50x
Kraken Futures PF_HYPEUSD	+0.0684%	1h	93.244	−0.004%	$20.8M	$30.0M	50x	as long as short