HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0374%/8h= +41.0% APRnext payment +$0.47 per $10,000 · paid last 24h +0.020%

Price spread now: RISEx against Deribit−0.349%80s7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.194% of the position

Long on Deribit Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.135%+$13 on $10k

Price spread, last 4 days (all we have)+0.323%+$32 · spread now −0.349%, 7d avg −0.025%

Together, before fees+0.457%+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.324% cheaper against Deribit than usual: you would sell low and buy high (spread −0.349% now, against its 7-day average of −0.025%). If the spread goes back, that is −$32 on $10k: about 2.9 days of funding at the current rate (+$11 a day). At the pace of the last 4 days (+0.135% in total) that is about 8.9 days. The two prices were read 80 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.135% in total (about 13.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.47 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	94.264	0.0185	pay 0.0023% / 1h	24m 48s	$7.5M	$4.3M	50x
Short	RISEx HYPE/USDC	93.935	0.0559	get 0.0070% / 1h	24m 48s	$3.2M	$6.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.349%Rate

Funding earned: $78.55
Price spread: −0.349% → −0.025%: −$32.36
Slippage, 4 orders: −$6.38
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee RISEx: 3 bp × 2 orders: −$6
Net: $26.81
Costs to cover: 0.194%
Break-even: 4.6 days

Slippage from Deribit: live order book, 4 min ago; RISEx: 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	2.19 bp	5.7 bp −$6	12.7 bp −$127	doesn't fit	doesn't fit
Sell RISEx live order book, 4 min ago	0.91 bp	3.9 bp −$4	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	−0.1024%	1h	93.809	−0.482%	$199K	$238K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0211%	1h	93.708	−0.590%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.207	−0.060%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0062%	1h	94.170	−0.100%	$705K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0058%	1h	94.228	−0.038%	$112K	$579K	20x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	94.240	−0.025%	$86K	$368K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0017%	4h	94.155	−0.116%	$146K	$683K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.880	−0.408%	$129K	$26K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.227	−0.040%	$20K	$290K	10x	as long as short
Bybit HYPEUSDT	+0.0002%	8h	94.240	−0.025%	$318.3M	$288.3M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.048	−0.229%	$83K	—	150x	as long as short
Derive HYPE-PERP	+0.0007%	1h	93.302	−1.020%	$16.2M	$7.5M	10x	as long as short
Bluefin HYPE-PERP	+0.0010%	1h	94.183	−0.086%	$80K	$156K	20x	as long as short
Phoenix HYPE	+0.0017%	1h	93.715	−0.582%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0052%	4h	94.254	−0.011%	$227.1M	$99.6M	75x	as long as short
Phemex HYPEUSDT	+0.0058%	8h	94.140	−0.132%	$12.8M	$2.8M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0078%	8h	94.266	+0.002%	$337K	$161K	20x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.620	−0.683%	$5.0M	$30.5M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.180	−0.089%	$1.0M	$4.0M	10x	as long as short
Lighter HYPE	+0.0096%	1h	94.253	−0.012%	$16.3M	$64.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.201	−0.067%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.198	−0.070%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.210	−0.057%	$21K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.208	−0.059%	$7.5M	$50.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.359	+0.101%	$2.07B	$684.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.267	+0.004%	$8.9M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.236	−0.030%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.253	−0.012%	$377.1M	$931.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.255	−0.010%	$116.3M	$317.3M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.253	−0.012%	$49.0M	$55.9M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.243	−0.022%	$89.5M	$84.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.239	−0.027%	$46.6M	$18.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.240	−0.025%	—	$53.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.193	−0.075%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.009	−0.271%	$28.9M	$56.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.696	−0.603%	$7.6M	$48.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.663	−0.638%	$357K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.643	−0.659%	$678K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.227	−0.040%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.242	−0.023%	$473K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.232	−0.034%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.174	−0.095%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.335	+0.075%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.438	−0.876%	$216K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.219	−0.047%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.245	−0.021%	$398K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0105%	8h	94.251	−0.014%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.200	−0.068%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	93.681	−0.618%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUALlong	+0.0185%	1h	94.264	long leg	$7.5M	$4.3M	50x
Injective HYPE/USDC PERP	+0.0205%	1h	94.100	−0.174%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	93.879	−0.408%	$77K	$129K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.202	−0.066%	$17.0M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0413%	1h	94.258	−0.006%	$21.0M	$29.5M	50x	as long as short
RISEx HYPE/USDCshort	+0.0559%	1h	93.935	−0.349%	$3.2M	$6.3M	20x