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Funding arb · Price arb /

HYPE

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 03:00 UTC+0.0332%/8h= +36.4% APRnext payment +$0.42 per $10,000 · paid last 24h +0.023%
Price spread now: Deribit against Extended+0.125%7-day average +0.085% · you sell dearer than you buy
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$190.187% of the position
Long on ExtendedShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.053%−$5 on $10k
Price spread, last 4 days (all we have)−0.314%−$31 · spread now +0.125%, 7d avg +0.085%
Together, before fees−0.368%+ Points / potential airdropExtended: Active · farm board−$37 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Deribit is 0.040% dearer against Extended than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.085%. Mind the row above: over the last 7 days funding on this pair cost −0.053%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.053% in total (about -2.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.42 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended HYPE-USD93.2730.0104pay 0.0013% / 1h11m 06s$18.3M$42.9M50x
ShortDeribit HYPE_USDC-PERPETUAL93.3900.0436get 0.0055% / 1h11m 06s$7.5M$4.4M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Extended. 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

Funding earned
$69.72
Price spread: +0.125% → +0.085%
$4.02
Slippage, 4 orders
−$6.65
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$55.09
Costs to cover
0.187%
Break-even
1.5 days
Slippage from Extended: live order book, 3 min ago; Deribit: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Extended live order book, 3 min ago0.05 bp2.6 bp −$34.6 bp −$4623.4 bp −$2,335doesn't fit
Sell Deribit live order book, 3 min ago0.48 bp5.3 bp −$512.5 bp −$125doesn't fitdoesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1000%1h93.101−0.185%$197K$227K7xas long as short
Arcus HYPE-USD−0.0899%1h93.117−0.168%$1.2M$3.8M10xas long as short
Ondo Perps HYPE-USD.P−0.0130%1h93.170−0.111%$698K$1.0M10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.234−0.042%$3K$33125xas long as short
Aftermath Perps HYPEUSD−0.0064%1h93.218−0.060%$22K$21K10xas long as short
01 Exchange HYPEUSD−0.0056%1h93.262−0.012%$85K$345K20xas long as short
Orderly PERP_HYPE_USDC−0.0048%4h93.270−0.004%$155K$654K20xas long as short
Phemex HYPEUSDT−0.0003%8h93.277+0.004%$12.6M$2.7M50xas long as short
dYdX HYPE-USD0.0000%1h93.241−0.034%$128K$31K5xas long as short
Perpl HYPE0.0000%43m93.238−0.038%$23K$319K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.268−0.006%$63K—150xas long as short
Bullet HYPE-USD+0.0008%1h93.226−0.051%$111K$579K20xas long as short
Aster HYPEUSDT+0.0018%4h93.294+0.022%$8.8M$35.9M300xas long as short
Phoenix HYPE+0.0026%1h93.156−0.126%$212K$1.2M10xas long as short
BingX HYPE-USDT+0.0036%4h93.299+0.027%—$53.0M—as long as short
Gate HYPE_USDT+0.0046%4h93.297+0.025%$44.6M$55.5M75xas long as short
Bybit HYPEUSDT+0.0047%8h93.294+0.022%$320.9M$276.9M75xas long as short
OKX HYPE-USDT-SWAP+0.0077%8h93.295+0.023%$113.8M$299.6M50xas long as short
Derive HYPE-PERP+0.0086%1h93.247−0.028%$16.2M$7.5M10xas long as short
Lighter HYPE+0.0096%1h93.307+0.036%$16.2M$62.1M20xas long as short
Lighter RH HYPE+0.0096%1h93.300+0.028%$3.1M$11.7M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.243−0.033%$67K$1.2M50xas long as short
Paradex HYPE-USD-PERP+0.0097%8h93.280+0.007%$339K$162K20xas long as short
MEXC HYPE_USDT+0.0098%4h93.298+0.026%$89.6M$81.2M100xas long as short
Binance HYPEUSDT+0.0098%4h93.298+0.026%$377.2M$880.2M75xas long as short
Katana Perps HYPE-USD+0.0100%8h93.230−0.047%$24K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.243−0.033%$5.8M$43.0M10xas long as short
Hyperliquid HYPE+0.0100%1h93.358+0.091%$2.04B$657.5M10xas long as short
Pacifica HYPE+0.0100%1h93.252−0.023%$10.0M$14.8M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.305+0.034%$45.9M$18.2M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.300+0.028%$225.7M$96.4M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.280+0.007%$7.4M$10.3M20xas long as short
Variational Omni HYPE+0.0100%8h93.197−0.082%$31.4M$53.7M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.122−0.162%$7.5M$46.2M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.125−0.159%$338K$998K50xas long as short
StandX HYPE-USD+0.0100%1h93.143−0.140%$665K$2.7M20xas long as short
Vest HYPE-PERP+0.0100%1h93.261−0.013%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.276+0.003%$473K$2.6M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.268−0.006%$79K$167K20xas long as short
SunX HYPE-USDT+0.0100%4h93.328+0.058%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.298+0.026%$2.0M$2.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.155−0.127%$203K$10K10xas long as short
Extended HYPE-USDlong+0.0104%1h93.273long leg$18.3M$42.9M50x
Aevo HYPE-PERP+0.0104%1h93.287+0.014%$397K$162K20xas long as short
edgeX HYPEUSDC+0.0112%4h93.083−0.205%$5.0M$28.9M30xas long as short
HTX HYPE-USDT+0.0137%4h93.400+0.136%$1.4M$6.0M75xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.340+0.071%$4.8M$5.5M50xas long as short
Reya HYPERUSDPERP+0.0259%1h93.236−0.040%$79K$140K15xas long as short
Kalshi KXHYPEPERP+0.0268%8h93.317+0.047%$1.9M$5.2M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0331% / S −0.0156%1h93.269−0.004%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0338%4h93.247−0.028%$17.0M$11.5M75xas long as short
Deribit HYPE_USDC-PERPETUALshort+0.0436%1h93.390+0.125%$7.5M$4.4M50x
RISEx HYPE/USDC+0.0510%1h93.338+0.069%$3.2M$6.3M20xas long as short
Injective HYPE/USDC PERP+0.0519%1h93.160−0.122%$30K$339K12xas long as short
Kraken Futures PF_HYPEUSD+0.0685%1h93.350+0.082%$20.7M$29.8M50xas long as short