HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0901%/8h= +98.7% APRnext payment +$1.13 per $10,000 · paid last 24h +0.269%

Price spread now: Deribit against Hibachi+0.076%50s7-day average +0.123% · you sell dearer than you buy

Net, funding: paid 7d − costs+$93as in the Funding arb table

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

costs, in and out, $10k−$710.714% of the position

Long on Hibachi Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+1.644%+$164 on $10k

Price spread, last 4 days (all we have)−0.084%−$8 · spread now +0.076%, 7d avg +0.123%

Together, before fees+1.560%+ Points / potential airdropHibachi: Active · farm board+$156 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.047% cheaper against Hibachi than usual: you would sell low and buy high (spread +0.076% now, against its 7-day average of +0.123%). If the spread goes back, that is −$5 on $10k: about 4 hours of funding at the current rate (+$27 a day). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi HYPE/USDT-P	92.400	−0.0448	get 0.0056% / 1h	39m 20s	$193K	$229K	7x
Short	Deribit HYPE_USDC-PERPETUAL	92.470	0.0453	get 0.0057% / 1h	39m 20s	$7.5M	$4.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Hibachi. 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 HibachibpFee DeribitbpOrdersPrice spread, now +0.076%Rate

Funding earned: $189.21
Price spread: +0.076% → +0.123%: −$4.65
Slippage, 4 orders: −$55.44
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $113.12
Costs to cover: 0.714%
Break-even: 2.8 days

Slippage from Hibachi: live order book, 20 min ago; Deribit: live order book, 5 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 Hibachi live order book, 20 min ago	14.58 bp	25.8 bp −$26	45.4 bp −$454	doesn't fit	doesn't fit
Sell Deribit live order book, 5 min ago	1.35 bp	5.8 bp −$6	11.8 bp −$118	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
Arcus HYPE-USD	−0.0948%	1h	92.225	−0.189%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-Plong	−0.0448%	1h	92.400	long leg	$193K	$229K	7x
Aftermath Perps HYPEUSD	−0.0171%	1h	92.348	−0.055%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	92.357	−0.046%	$87K	$356K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.370	−0.032%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0070%	4h	92.278	−0.132%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0049%	1h	92.331	−0.074%	$110K	$580K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.401	+0.001%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.381	−0.020%	$22K	$309K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.360	−0.043%	$61K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0003%	4h	92.378	−0.023%	$8.7M	$36.4M	300x	as long as short
Ondo Perps HYPE-USD.P	+0.0008%	1h	92.300	−0.108%	$695K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0030%	4h	92.341	−0.063%	—	$53.3M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.379	−0.022%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0054%	8h	92.312	−0.095%	$315.7M	$281.3M	75x	as long as short
Phemex HYPEUSDT	+0.0054%	8h	92.392	−0.008%	$12.5M	$2.7M	50x	as long as short
Gate HYPE_USDT	+0.0060%	4h	92.342	−0.062%	$44.3M	$54.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0079%	8h	92.294	−0.114%	$112.9M	$302.1M	50x	as long as short
MEXC HYPE_USDT	+0.0080%	4h	92.339	−0.066%	$87.1M	$80.5M	100x	as long as short
Derive HYPE-PERP	+0.0084%	1h	92.342	−0.063%	$16.0M	$7.5M	10x	as long as short
Binance HYPEUSDT	+0.0085%	4h	92.333	−0.072%	$370.1M	$900.6M	75x	as long as short
edgeX HYPEUSDC	+0.0089%	4h	92.287	−0.122%	$4.9M	$29.5M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0092%	8h	92.406	+0.007%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.386	−0.015%	$16.0M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.381	−0.020%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.327	−0.079%	$68K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.340	−0.064%	$39K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.328	−0.077%	$6.8M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.390	−0.010%	$2.01B	$663.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.387	−0.014%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.245	−0.167%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.342	−0.062%	$45.8M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.334	−0.071%	$224.0M	$98.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.360	−0.043%	$7.3M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.258	−0.153%	$28.3M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.315	−0.092%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.289	−0.120%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.275	−0.135%	$662K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.390	−0.011%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.357	−0.046%	$475K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.277	−0.133%	$78K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.408	+0.009%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.368	−0.034%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.515	+0.125%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.302	−0.106%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.371	−0.031%	$391K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.650%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.420	+0.022%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0255%	8h	92.401	+0.002%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.335	−0.070%	$79K	$138K	15x	as long as short
BloFin HYPE-USDT	+0.0321%	4h	92.305	−0.102%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.354	−0.050%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0333%	1h	92.439	+0.043%	$20.5M	$30.5M	50x	as long as short
Deribit HYPE_USDC-PERPETUALshort	+0.0453%	1h	92.470	+0.076%	$7.5M	$4.4M	50x
RISEx HYPE/USDC	+0.0687%	1h	92.412	+0.014%	$3.1M	$6.4M	20x	as long as short