HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0226%/8h= +24.8% APRnext payment +$0.28 per $10,000 · paid last 24h +0.013%

Price spread now: Derive against dYdX−0.040%7-day average −0.035% · you buy dearer than you sell

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

Long on dYdX Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.115%+$11 on $10k

Price spread, last 3 days (all we have)+0.003%$0 · spread now −0.040%, 7d avg −0.035%

Together, before fees+0.117%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.035%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.115% in total (about 6.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.28 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	dYdX HYPE-USD	94.245	−0.0178	get 0.0022% / 1h	34m 44s	$129K	$31K	5x
Short	Derive HYPE-PERP	94.208	0.0048	get 0.0006% / 1h	34m 44s	$16.5M	$7.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against dYdX. 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 dYdXbpFee DerivebpOrdersPrice spread, now −0.040%Rate

Funding earned: $47.47
Price spread: −0.040% → −0.035%: −$0.49
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Derive: 3 bp × 2 orders: −$6
Net: $30.99
Costs to cover: 0.160%
Break-even: 2.4 days

Slippage unknown: dYdX: live order book, 39 min ago; Derive: no order-book sample. 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 dYdX live order book, 39 min ago	9.10 bp	42.4 bp −$42	57.1 bp −$571	137.7 bp −$13.8K	734.4 bp −$367.2K
Sell Derive no order-book sample	—	—	—	—	—

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	−0.1448%	1h	94.155	−0.096%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	94.173	−0.076%	$1.2M	$3.8M	10x	as long as short
Phemex HYPEUSDT	−0.0268%	8h	94.233	−0.013%	$12.8M	$2.6M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0263%	1h	94.150	−0.101%	$22K	$23K	10x	as long as short
dYdX HYPE-USDlong	−0.0178%	1h	94.245	long leg	$129K	$31K	5x
Ondo Perps HYPE-USD.P	−0.0152%	1h	94.200	−0.048%	$710K	$947K	10x	as long as short
Bullet HYPE-USD	−0.0094%	1h	94.242	−0.003%	$112K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.293	+0.051%	$86K	$361K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.272	+0.029%	$3K	$331	25x	as long as short
Bybit HYPEUSDT	−0.0019%	8h	94.250	+0.005%	$323.8M	$280.7M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0012%	4h	94.258	+0.014%	$166K	$604K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.289	+0.046%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.279	+0.036%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0024%	4h	94.269	+0.025%	$8.9M	$36.1M	300x	as long as short
Gate HYPE_USDT	+0.0030%	4h	94.262	+0.018%	$44.6M	$59.6M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	94.173	−0.076%	$219K	$1.2M	10x	as long as short
Derive HYPE-PERPshort	+0.0048%	1h	94.208	−0.040%	$16.5M	$7.3M	10x
MEXC HYPE_USDT	+0.0050%	4h	94.265	+0.021%	$89.5M	$82.4M	100x	as long as short
Binance HYPEUSDT	+0.0051%	4h	94.263	+0.019%	$384.5M	$893.5M	75x	as long as short
edgeX HYPEUSDC	+0.0058%	4h	94.030	−0.228%	$5.1M	$29.8M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0082%	8h	94.265	+0.021%	$116.4M	$319.5M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.327	+0.087%	$19.1M	$58.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.299	+0.057%	$3.1M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.245	0.000%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.254	+0.009%	$401K	$193K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.301	+0.059%	$343K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.280	+0.037%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.249	+0.005%	$6.7M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.367	+0.129%	$2.06B	$675.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.289	+0.047%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.294	+0.052%	$46.7M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.273	+0.030%	$228.7M	$100.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.273	+0.030%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.275	+0.032%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.220	−0.026%	$31.8M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.045	−0.212%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.252	+0.007%	$341K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.245	0.000%	$682K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.281	+0.038%	—	$271K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.266	+0.022%	$481K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.232	−0.014%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.319	+0.078%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.243	−0.002%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	−0.133%	$205K	$4K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.255	+0.011%	$19.1M	$44.2M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.280	+0.037%	$5.0M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0204%	4h	94.247	+0.002%	$17.0M	$12.3M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.260%	$31K	$338K	12x	as long as short
Kalshi KXHYPEPERP	+0.0209%	8h	94.307	+0.066%	$1.9M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.323	+0.083%	$2.8M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0251%	1h	94.242	−0.003%	$79K	$145K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0153%	1h	94.266	+0.022%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0355%	1h	94.337	+0.098%	$7.5M	$4.7M	50x	as long as short
HTX HYPE-USDT	+0.0449%	4h	94.428	+0.194%	$1.5M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0669%	1h	94.341	+0.102%	$21.1M	$29.7M	50x	as long as short