HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1948%/8h= +213.3% APRnext payment +$2.44 per $10,000 · paid last 24h +0.247%

Price spread now: Derive against Hibachi+0.109%7-day average +0.050% · you sell dearer than you buy

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

Long on Hibachi Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+1.682%+$168 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now +0.109%, 7d avg +0.050%

Together, before fees+1.690%+ Points / potential airdropHibachi: Active · farm board+$169 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$58 a day on $10k at the current rate, and Derive is 0.059% dearer against Hibachi than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi HYPE/USDT-P	93.418	−0.1848	get 0.0231% / 1h	48m 44s	$196K	$232K	7x
Short	Derive HYPE-PERP	93.521	0.0100	get 0.0013% / 1h	48m 44s	$16.1M	$7.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Hibachi. 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 HibachibpFee DerivebpOrdersPrice spread, now +0.109%Rate

Funding earned: $409.08
Price spread: +0.109% → +0.050%: $5.93
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Derive: 3 bp × 2 orders: −$6
Net: $400.01
Costs to cover: 0.150%
Break-even: 0.2 days

Slippage unknown: Hibachi: live order book, 65 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 Hibachi live order book, 65 min ago	9.25 bp	43.2 bp −$43	60.9 bp −$609	doesn't fit	doesn't fit
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-Plong	−0.1848%	1h	93.418	long leg	$196K	$232K	7x
Aftermath Perps HYPEUSD	−0.0365%	1h	93.494	+0.081%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.494	+0.081%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0046%	1h	93.542	+0.132%	$111K	$578K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0032%	4h	93.520	+0.109%	$146K	$663K	20x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	93.528	+0.117%	$88K	$365K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0011%	1h	93.580	+0.173%	$704K	$1.2M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.530	+0.120%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.508	+0.096%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.559	+0.151%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus HYPE-USD	+0.0011%	1h	93.473	+0.058%	$1.0M	$3.9M	10x	as long as short
Bitget HYPEUSDT	+0.0018%	4h	93.692	+0.293%	$226.7M	$99.1M	75x	as long as short
Phemex HYPEUSDT	+0.0024%	8h	93.557	+0.148%	$12.6M	$2.7M	50x	as long as short
Bybit HYPEUSDT	+0.0025%	8h	93.670	+0.269%	$318.6M	$283.7M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.701	+0.303%	$210K	$1.2M	10x	as long as short
edgeX HYPEUSDC	+0.0083%	4h	93.497	+0.084%	$5.0M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.552	+0.143%	$340K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.699	+0.300%	$16.2M	$63.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.539	+0.129%	$3.1M	$11.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.501	+0.088%	$77K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.500	+0.087%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.511	+0.100%	$7.6M	$48.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.726	+0.329%	$2.04B	$666.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.660	+0.258%	$8.8M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.547	+0.138%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.681	+0.281%	$375.6M	$911.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.680	+0.280%	$114.9M	$310.0M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.614	+0.210%	$204K	$3K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.683	+0.283%	$46.5M	$54.0M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.674	+0.274%	$92.2M	$80.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.672	+0.271%	$46.9M	$18.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.687	+0.288%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.582	+0.175%	$7.3M	$10.9M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.649	+0.246%	$28.7M	$56.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.675	+0.275%	$7.6M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.596	+0.190%	$343K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.626	+0.222%	$670K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.574	+0.167%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.527	+0.116%	$490K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.517	+0.106%	$79K	$166K	20x	as long as short
Derive HYPE-PERPshort	+0.0100%	1h	93.521	+0.109%	$16.1M	$7.5M	10x
SunX HYPE-USDT	+0.0100%	4h	93.494	+0.081%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.530	+0.119%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.670	+0.269%	$1.4M	$6.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.654	+0.252%	$18.2M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.539	+0.129%	$395K	$161K	20x	as long as short
Kalshi KXHYPEPERP	+0.0120%	8h	93.569	+0.161%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.440	+0.023%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.560	+0.152%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	93.496	+0.083%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.554	+0.145%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.529	+0.118%	$16.9M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0340%	1h	93.613	+0.208%	$20.9M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0434%	1h	93.635	+0.232%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.568	+0.160%	$3.2M	$6.3M	20x	as long as short