HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0925%/8h= −101.3% APRnext payment −$1.16 per $10,000 · paid last 24h −0.269%

Price spread now: Hibachi against Deribit−0.185%7-day average −0.123% · you buy dearer than you sell

Net, funding: paid 7d − costs−$236as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$710.714% of the position

Long on Deribit Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−1.644%−$164 on $10k

Price spread, last 4 days (all we have)+0.193%+$19 · spread now −0.185%, 7d avg −0.123%

Together, before fees−1.451%+ Points / potential airdropHibachi: Active · farm board−$145 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$28 a day on $10k at the current rate, and Hibachi is 0.063% cheaper against Deribit than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.123%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit HYPE_USDC-PERPETUAL	92.470	0.0453	pay 0.0057% / 1h	39m 46s	$7.5M	$4.4M	50x
Short	Hibachi HYPE/USDT-P	92.299	−0.0472	pay 0.0059% / 1h	39m 46s	$193K	$229K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now −0.185%Rate

Funding earned: −$194.25
Price spread: −0.185% → −0.123%: −$6.25
Slippage, 4 orders: −$55.44
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$271.94
Costs to cover: 0.714%
Break-even: never at this rate

Slippage from Deribit: live order book, 4 min ago; Hibachi: live order book, 19 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	1.35 bp	7.7 bp −$8	11.2 bp −$112	doesn't fit	doesn't fit
Sell Hibachi live order book, 19 min ago	14.58 bp	32.1 bp −$32	52.0 bp −$520	doesn't fit	doesn't fit

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
Arcus HYPE-USD	−0.0948%	1h	92.261	−0.226%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-Pshort	−0.0472%	1h	92.299	−0.185%	$193K	$229K	7x
Aftermath Perps HYPEUSD	−0.0170%	1h	92.346	−0.135%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	92.420	−0.054%	$85K	$355K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.408	−0.067%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0070%	4h	92.353	−0.127%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0054%	1h	92.361	−0.117%	$110K	$579K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.401	−0.075%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.400	−0.076%	$22K	$310K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.387	−0.090%	$61K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0003%	4h	92.392	−0.085%	$8.7M	$36.4M	300x	as long as short
Ondo Perps HYPE-USD.P	+0.0010%	1h	92.340	−0.141%	$695K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0030%	4h	92.380	−0.097%	—	$53.3M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.246	−0.242%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0052%	8h	92.360	−0.119%	$315.9M	$281.3M	75x	as long as short
Phemex HYPEUSDT	+0.0054%	8h	92.392	−0.084%	$12.5M	$2.7M	50x	as long as short
Gate HYPE_USDT	+0.0058%	4h	92.367	−0.111%	$44.3M	$54.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0079%	8h	92.343	−0.137%	$113.0M	$302.2M	50x	as long as short
MEXC HYPE_USDT	+0.0080%	4h	92.371	−0.107%	$87.1M	$80.5M	100x	as long as short
Derive HYPE-PERP	+0.0084%	1h	92.342	−0.139%	$16.0M	$7.5M	10x	as long as short
Binance HYPEUSDT	+0.0085%	4h	92.359	−0.120%	$370.2M	$900.6M	75x	as long as short
edgeX HYPEUSDC	+0.0089%	4h	92.287	−0.198%	$4.9M	$29.5M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0092%	8h	92.430	−0.043%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.386	−0.091%	$16.0M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.381	−0.096%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.412	−0.063%	$68K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.380	−0.097%	$39K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.385	−0.092%	$6.7M	$44.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.424	−0.050%	$2.01B	$663.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.408	−0.068%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.245	−0.243%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.368	−0.110%	$45.8M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.382	−0.095%	$224.1M	$98.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.360	−0.119%	$7.3M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.258	−0.229%	$28.3M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.209	−0.283%	$7.5M	$45.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.186	−0.307%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.275	−0.211%	$662K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.404	−0.071%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.390	−0.087%	$475K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.354	−0.125%	$78K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.408	−0.067%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.368	−0.110%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.515	+0.049%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.358	−0.121%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.371	−0.107%	$391K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.573%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.420	−0.054%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0255%	8h	92.401	−0.075%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.369	−0.110%	$79K	$138K	15x	as long as short
BloFin HYPE-USDT	+0.0321%	4h	92.305	−0.178%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.374	−0.104%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0333%	1h	92.439	−0.033%	$20.5M	$30.5M	50x	as long as short
Deribit HYPE_USDC-PERPETUALlong	+0.0453%	1h	92.470	long leg	$7.5M	$4.4M	50x
RISEx HYPE/USDC	+0.0687%	1h	92.482	+0.013%	$3.1M	$6.4M	20x	as long as short