HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0089%/8h= −9.8% APRnext payment −$0.11 per $10,000 · paid last 24h −0.083%

Price spread now: Arcus against Derive−0.032%7-day average −0.006% · you buy dearer than you sell

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

Long on Derive Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.098%−$10 on $10k

Price spread, last 4 days (all we have)+0.055%+$5 · spread now −0.032%, 7d avg −0.006%

Together, before fees−0.044%−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Arcus is 0.026% cheaper against Derive than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.006%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive HYPE-PERP	94.152	0.0100	pay 0.0013% / 1h	14m 05s	$16.2M	$7.4M	10x
Short	Arcus HYPE-USD	94.122	0.0011	get 0.0001% / 1h	14m 05s	$1.0M	$3.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Derive. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DerivebpFee ArcusbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$18.77
Price spread: −0.032% → −0.006%: −$2.57
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$31.84
Costs to cover: 0.105%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Arcus: live order book, 5 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 Derive no order-book sample	—	—	—	—	—
Sell Arcus live order book, 5 min ago	0.53 bp	3.3 bp −$3	9.4 bp −$94	31.9 bp −$3,193	doesn't fit

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1328%	1h	94.084	−0.073%	$199K	$239K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0393%	1h	93.908	−0.260%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.111	−0.044%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0018%	1h	94.145	−0.008%	$112K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0016%	4h	94.127	−0.027%	$147K	$678K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.106	−0.050%	$129K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	94.156	+0.004%	$86K	$372K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.127	−0.027%	$23K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	94.156	+0.004%	$63K	—	150x	as long as short
Arcus HYPE-USDshort	+0.0011%	1h	94.122	−0.032%	$1.0M	$3.9M	10x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget HYPEUSDT	+0.0020%	4h	94.145	−0.008%	$227.1M	$99.3M	75x	as long as short
Bybit HYPEUSDT	+0.0024%	8h	94.144	−0.009%	$319.4M	$284.1M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	94.174	+0.023%	$209K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0026%	8h	94.175	+0.024%	$12.8M	$2.8M	50x	as long as short
Ondo Perps HYPE-USD.P	+0.0070%	1h	94.080	−0.077%	$709K	$1.2M	10x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	94.117	−0.037%	$5.0M	$30.2M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	94.183	+0.033%	$342K	$158K	20x	as long as short
Lighter HYPE	+0.0096%	1h	94.186	+0.036%	$16.4M	$63.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.190	+0.040%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.140	−0.013%	$72K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.110	−0.045%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.124	−0.030%	$7.2M	$48.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.230	+0.083%	$2.06B	$675.7M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.165	+0.014%	$8.8M	$36.5M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.174	+0.023%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.185	+0.035%	$378.1M	$919.8M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.158	+0.006%	$116.4M	$315.3M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.358	−0.843%	$216K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.160	+0.008%	$48.0M	$55.3M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.184	+0.034%	$90.4M	$81.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.181	+0.031%	$46.5M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.149	−0.003%	—	$53.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.192	+0.042%	$7.2M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.099	−0.056%	$28.9M	$56.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.979	−0.184%	$7.7M	$48.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.161	+0.009%	$345K	$994K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.124	−0.030%	$673K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.191	+0.042%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.144	−0.009%	$484K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.176	+0.025%	$80K	$166K	20x	as long as short
Derive HYPE-PERPlong	+0.0100%	1h	94.152	long leg	$16.2M	$7.4M	10x
SunX HYPE-USDT	+0.0100%	4h	94.213	+0.065%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.182	+0.032%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.267	+0.122%	$1.4M	$6.6M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.140	−0.013%	$18.3M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.175	+0.024%	$398K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0120%	8h	94.190	+0.040%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	94.180	+0.030%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.160	+0.008%	$4.7M	$6.1M	50x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	94.108	−0.047%	$80K	$127K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	94.146	−0.007%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0334%	1h	94.260	+0.114%	$7.5M	$4.1M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0338%	1h	94.263	+0.118%	$21.0M	$29.6M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.105	−0.050%	$16.8M	$12.0M	75x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	94.205	+0.056%	$3.2M	$6.3M	20x	as long as short