HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0098%/8h= +10.8% APRnext payment +$0.12 per $10,000 · paid last 24h −0.034%

Price spread now: Deribit against GMX+0.091%7-day average +0.031% · you sell dearer than you buy

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

Long on GMX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.186%−$19 on $10k

Price spread, last 4 days (all we have)−0.256%−$26 · spread now +0.091%, 7d avg +0.031%

Together, before fees−0.442%−$44 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Deribit is 0.060% dearer against GMX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.031%. Mind the row above: over the last 3 days funding on this pair cost −0.186%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX HYPE/USD [WBTC.b-USDC]	92.784	L +0.0331% / S −0.0154%	pay 0.0041% / 1h	19m 17s	$1.4M	—	100x
Short	Deribit HYPE_USDC-PERPETUAL	92.869	0.0429	get 0.0054% / 1h	19m 17s	$7.5M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against GMX. 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 GMXbpFee DeribitbpOrdersPrice spread, now +0.091%Rate

Funding earned: $20.63
Price spread: +0.091% → +0.031%: $5.97
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $7.6
Costs to cover: 0.190%
Break-even: 4.4 days

Slippage unknown: GMX: no order-book sample; Deribit: 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 GMX no order-book sample	—	—	—	—	—
Sell Deribit live order book, 5 min ago	1.51 bp	8.1 bp −$8	12.6 bp −$126	doesn't fit	doesn't fit

GMX: 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
Arcus HYPE-USD	−0.0948%	1h	92.709	−0.081%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0256%	1h	92.721	−0.069%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0239%	1h	92.706	−0.084%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.765	−0.021%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.751	−0.036%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	92.813	+0.031%	$86K	$361K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.770	−0.015%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.785	0.000%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.790	+0.005%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0022%	8h	92.726	−0.063%	$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
Bullet HYPE-USD	+0.0032%	1h	92.767	−0.019%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	+0.0038%	1h	92.700	−0.091%	$697K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0040%	4h	92.771	−0.014%	—	$53.4M	—	as long as short
Aster HYPEUSDT	+0.0042%	4h	92.776	−0.009%	$8.7M	$36.2M	300x	as long as short
Phoenix HYPE	+0.0043%	1h	92.817	+0.035%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0048%	8h	92.755	−0.032%	$316.8M	$281.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0088%	8h	92.785	+0.001%	$113.7M	$304.1M	50x	as long as short
Gate HYPE_USDT	+0.0090%	4h	92.773	−0.012%	$44.5M	$55.3M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	92.794	+0.010%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.783	−0.002%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.783	−0.002%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.784	0.000%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.760	−0.026%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.761	−0.025%	$7.1M	$45.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.816	+0.034%	$2.02B	$663.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.790	+0.006%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.773	−0.012%	$372.6M	$903.5M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.785	+0.001%	$87.6M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.790	+0.006%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.763	−0.023%	$224.5M	$98.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.748	−0.039%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.688	−0.104%	$28.6M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.707	−0.083%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.749	−0.038%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.772	−0.013%	$665K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.822	+0.041%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.790	+0.006%	$466K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.757	−0.030%	$78K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.762	−0.025%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.798	+0.015%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.771	−0.014%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.915	+0.141%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.701	−0.090%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.746	−0.042%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.775	−0.010%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0116%	4h	92.666	−0.127%	$5.0M	$29.5M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.232%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.810	+0.028%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0240%	8h	92.830	+0.049%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0262%	1h	92.773	−0.013%	$79K	$132K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]long	L +0.0331% / S −0.0154%	1h	92.784	long leg	$1.4M	—	100x
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.843	+0.063%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.771	−0.014%	$16.7M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUALshort	+0.0429%	1h	92.869	+0.091%	$7.5M	$4.5M	50x
RISEx HYPE/USDC	+0.0687%	1h	92.842	+0.062%	$3.2M	$6.4M	20x	as long as short