HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0236%/8h= −25.8% APRnext payment −$0.29 per $10,000 · paid last 24h +0.033%

Price spread now: Injective against Deribit+0.250%7-day average +0.116% · you sell dearer than you buy

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

Long on Deribit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+2.250%+$225 on $10k

Price spread, last 4 days (all we have)−0.243%−$24 · spread now +0.250%, 7d avg +0.116%

Together, before fees+2.007%+$201 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.134% dearer against Deribit than usual: you sell high and buy low (spread +0.250% now, against its 7-day average of +0.116%): +$13 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 46 hours. Mind the row above: over the last 7 days funding on this pair paid +2.250%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit HYPE_USDC-PERPETUAL	92.768	0.0386	pay 0.0048% / 1h	23m 10s	$7.5M	$4.5M	50x
Short	Injective HYPE/USDC PERP	93.000	0.0150	get 0.0019% / 1h	23m 10s	$30K	$339K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.250%Rate

Funding earned: −$49.46
Price spread: +0.250% → +0.116%: $13.43
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$43.05
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Deribit: live order book, 1 min ago; Injective: live order book, 36 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 Deribit live order book, 1 min ago	1.51 bp	7.7 bp −$8	10.8 bp −$108	doesn't fit	doesn't fit
Sell Injective live order book, 36 min ago	14.57 bp	3718.7 bp −$3,719	doesn't fit	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	92.614	−0.166%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0264%	1h	92.680	−0.095%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0222%	1h	92.632	−0.147%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.700	−0.073%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.641	−0.137%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	92.700	−0.073%	$87K	$359K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.674	−0.101%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.688	−0.086%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.696	−0.078%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0021%	8h	92.666	−0.110%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	+0.0024%	1h	92.640	−0.138%	$697K	$1.1M	10x	as long as short
Bullet HYPE-USD	+0.0027%	1h	92.662	−0.115%	$111K	$579K	20x	as long as short
Aster HYPEUSDT	+0.0035%	4h	92.678	−0.097%	$8.7M	$36.3M	300x	as long as short
BingX HYPE-USDT	+0.0040%	4h	92.676	−0.099%	—	$53.4M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.652	−0.125%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0048%	8h	92.663	−0.113%	$316.5M	$282.0M	75x	as long as short
Gate HYPE_USDT	+0.0082%	4h	92.677	−0.098%	$44.5M	$55.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0086%	8h	92.678	−0.097%	$113.5M	$304.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.713	−0.060%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.685	−0.089%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.693	−0.081%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.677	−0.098%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.660	−0.116%	$41K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.680	−0.094%	$6.5M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.706	−0.067%	$2.02B	$662.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.705	−0.068%	$10.0M	$15.1M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.677	−0.098%	$372.2M	$904.1M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.680	−0.095%	$87.5M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.677	−0.098%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.672	−0.103%	$224.3M	$98.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.659	−0.117%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.628	−0.151%	$28.5M	$57.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.667	−0.109%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.679	−0.096%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.665	−0.111%	$664K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.729	−0.042%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.687	−0.087%	$465K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.647	−0.130%	$78K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.670	−0.106%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.676	−0.099%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.682	−0.093%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.843	+0.081%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.701	−0.072%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.657	−0.119%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.684	−0.091%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0117%	4h	92.646	−0.131%	$5.0M	$29.5M	30x	as long as short
Injective HYPE/USDC PERPshort	+0.0150%	1h	93.000	+0.250%	$30K	$339K	12x
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.720	−0.052%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0242%	8h	92.747	−0.023%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0262%	1h	92.664	−0.112%	$79K	$134K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.679	−0.096%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.743	−0.027%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.691	−0.083%	$16.6M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUALlong	+0.0386%	1h	92.768	long leg	$7.5M	$4.5M	50x
RISEx HYPE/USDC	+0.0687%	1h	92.742	−0.029%	$3.2M	$6.4M	20x	as long as short