Funding you earn now, next payment 03:00 UTC−0.0218%/8h= −23.9% APRnext payment −$0.27 per $10,000 · paid last 24h +0.018%
Price spread now: Hyperliquid against Deribit+0.043%7-day average +0.007% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$250.253% of the position
Funding, last 7 days+0.101%+$10 on $10k
+Price spread, last 4 days (all we have)+0.323%+$32 · spread now +0.043%, 7d avg +0.007%
=Together, before fees+0.424%+ Points / potential airdropHyperliquid: Season 2 · farm board+$42 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.035% dearer against Deribit than usual: you sell high and buy low (spread +0.043% now, against its 7-day average of +0.007%): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 13 hours. Mind the row above: over the last 7 days funding on this pair paid +0.101%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.101% in total (about 5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.27 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 | 93.368 | 0.0318 | pay 0.0040% / 1h | 38m 41s | $7.4M | $4.4M | 50x |
| Short | Hyperliquid HYPE | 93.408 | 0.0100 | get 0.0013% / 1h | 38m 41s | $2.04B | $653.2M | 10x |
Deribit HYPE_USDC-PERPETUAL
Hyperliquid HYPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Deribit. 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
- −$45.78
- Price spread: +0.043% → +0.007%
- $3.55
- Slippage, 4 orders
- −$9.31
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$67.54
- Costs to cover
- 0.253%
- Break-even
- never at this rate
Slippage from Deribit: live order book, just now; Hyperliquid: live order book, 5 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, just now | 3.53 bp | 7.5 bp −$7 | 11.5 bp −$115 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 0.05 bp | 4.6 bp −$5 | 5.0 bp −$50 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi HYPE/USDT-P | −0.1280% | 1h | 93.334 | −0.036% | $196K | $226K | 7x | as long as short |
| Arcus HYPE-USD | −0.0899% | 1h | 93.167 | −0.215% | $1.2M | $3.8M | 10x | as long as short |
| Bluefin HYPE-PERP | −0.0185% | 1h | 93.253 | −0.123% | $79K | $170K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.343 | −0.027% | $3K | $331 | 25x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0073% | 1h | 93.270 | −0.105% | $700K | $981K | 10x | as long as short |
| Phemex HYPEUSDT | −0.0059% | 8h | 93.302 | −0.071% | $12.6M | $2.7M | 50x | as long as short |
| 01 Exchange HYPEUSD | −0.0048% | 1h | 93.273 | −0.102% | $85K | $345K | 20x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0046% | 4h | 93.270 | −0.105% | $155K | $633K | 20x | as long as short |
| Aftermath Perps HYPEUSD | −0.0040% | 1h | 93.403 | +0.037% | $22K | $21K | 10x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.361 | −0.008% | $128K | $31K | 5x | as long as short |
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Bluefin HYPE-PERP
Hotstuff HYPE-PERP
Ondo Perps HYPE-USD.P
Phemex HYPEUSDT
01 Exchange HYPEUSD
Orderly PERP_HYPE_USDC
Aftermath Perps HYPEUSD
dYdX HYPE-USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Perpl HYPE | 0.0000% | 43m | 93.299 | −0.074% | $23K | $322K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0002% | 1h | 93.299 | −0.074% | $62K | — | 150x | as long as short |
| Bullet HYPE-USD | +0.0009% | 1h | 93.276 | −0.098% | $111K | $578K | 20x | as long as short |
| Aster HYPEUSDT | +0.0017% | 4h | 93.280 | −0.094% | $8.8M | $35.6M | 300x | as long as short |
| Phoenix HYPE | +0.0026% | 1h | 93.398 | +0.032% | $213K | $1.2M | 10x | as long as short |
| BingX HYPE-USDT | +0.0026% | 4h | 93.296 | −0.077% | — | $53.1M | — | as long as short |
| Bybit HYPEUSDT | +0.0033% | 8h | 93.324 | −0.047% | $321.4M | $277.1M | 75x | as long as short |
| Gate HYPE_USDT | +0.0044% | 4h | 93.270 | −0.105% | $44.5M | $54.8M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0077% | 8h | 93.330 | −0.041% | $114.2M | $302.0M | 50x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.363 | −0.005% | $16.3M | $61.6M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.360 | −0.009% | $3.1M | $11.5M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.269 | −0.106% | $69K | $1.2M | 50x | as long as short |
| MEXC HYPE_USDT | +0.0096% | 4h | 93.334 | −0.036% | $89.8M | $80.7M | 100x | as long as short |
| Binance HYPEUSDT | +0.0097% | 4h | 93.325 | −0.046% | $378.7M | $877.0M | 75x | as long as short |
| Paradex HYPE-USD-PERP | +0.0097% | 8h | 93.367 | −0.001% | $339K | $162K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.290 | −0.084% | $17K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.321 | −0.050% | $5.8M | $43.4M | 10x | as long as short |
| Hyperliquid HYPEshort | +0.0100% | 1h | 93.408 | +0.043% | $2.04B | $653.2M | 10x | |
| Pacifica HYPE | +0.0100% | 1h | 93.366 | −0.002% | $10.0M | $14.6M | 20x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.580 | +0.227% | $204K | $10K | 10x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.302 | −0.071% | $45.9M | $18.1M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.353 | −0.016% | $225.7M | $96.7M | 75x | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.270 | −0.105% | $7.4M | $10.3M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.317 | −0.055% | $31.1M | $53.9M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.553 | +0.198% | $7.6M | $45.6M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.487 | +0.127% | $340K | $999K | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.408 | +0.043% | $667K | $2.6M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.362 | −0.006% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.317 | −0.055% | $471K | $2.5M | 20x | as long as short |
| Derive HYPE-PERP | +0.0100% | 1h | 93.266 | −0.109% | $16.2M | $7.6M | 10x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.358 | −0.011% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.261 | −0.115% | $2.0M | $1.9M | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.250 | −0.127% | $18.4M | $43.6M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.269 | −0.106% | $397K | $162K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0108% | 4h | 93.349 | −0.020% | $5.1M | $29.6M | 30x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0176% | 1h | 93.350 | −0.019% | $4.9M | $5.4M | 50x | as long as short |
| HTX HYPE-USDT | +0.0197% | 4h | 93.450 | +0.088% | $1.4M | $6.0M | 75x | as long as short |
| Reya HYPERUSDPERP | +0.0257% | 1h | 93.278 | −0.096% | $79K | $140K | 15x | as long as short |
| Kalshi KXHYPEPERP | +0.0278% | 8h | 93.362 | −0.006% | $1.9M | $5.1M | 2.3x | as long as short |
| Deribit HYPE_USDC-PERPETUALlong | +0.0318% | 1h | 93.368 | long leg | $7.4M | $4.4M | 50x | |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0331% / S −0.0156% | 1h | 93.306 | −0.066% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0337% | 4h | 93.271 | −0.104% | $16.9M | $11.6M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0510% | 1h | 93.364 | −0.004% | $3.2M | $6.4M | 20x | as long as short |
| Injective HYPE/USDC PERP | +0.0519% | 1h | 93.220 | −0.159% | $30K | $339K | 12x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0686% | 1h | 93.323 | −0.048% | $20.7M | $30.1M | 50x | as long as short |
Perpl HYPE
gTrade (Gains Network) HYPE/USD
Bullet HYPE-USD
Aster HYPEUSDT
Phoenix HYPE
BingX HYPE-USDT
Bybit HYPEUSDT
Gate HYPE_USDT
OKX HYPE-USDT-SWAP
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
MEXC HYPE_USDT
Binance HYPEUSDT
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Pacifica HYPE
Bulk HYPE-USD
KuCoin HYPEUSDTM
Bitget HYPEUSDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Derive HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Extended HYPE-USD
Aevo HYPE-PERP
edgeX HYPEUSDC
Coinbase International HYPE-PERP-INTX
HTX HYPE-USDT
Reya HYPERUSDPERP
Kalshi KXHYPEPERP
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
RISEx HYPE/USDC
Injective HYPE/USDC PERP
Kraken Futures PF_HYPEUSD