Funding you earn now, next payment 03:00 UTC+0.0186%/8h= +20.4% APRnext payment +$0.23 per $10,000 · paid last 24h −0.018%
Price spread now: Deribit against Hyperliquid+0.036%7-day average −0.007% · you sell dearer than you buy
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$250.253% of the position
Funding, last 7 days−0.101%−$10 on $10k
+Price spread, last 4 days (all we have)−0.402%−$40 · spread now +0.036%, 7d avg −0.007%
=Together, before fees−0.504%+ Points / potential airdropHyperliquid: Season 2 · farm board−$50 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Deribit is 0.044% dearer against Hyperliquid than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.007%. Mind the row above: over the last 7 days funding on this pair cost −0.101%, 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 -0.101% in total (about -5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.23 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 | Hyperliquid HYPE | 93.337 | 0.0100 | pay 0.0013% / 1h | 37m 59s | $2.04B | $653.2M | 10x |
| Short | Deribit HYPE_USDC-PERPETUAL | 93.371 | 0.0286 | get 0.0036% / 1h | 37m 59s | $7.4M | $4.4M | 50x |
Hyperliquid HYPE
Deribit HYPE_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $39.06
- Price spread: +0.036% → −0.007%
- $4.38
- Slippage, 4 orders
- −$9.31
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $18.13
- Costs to cover
- 0.253%
- Break-even
- 3.8 days
Slippage from Hyperliquid: live order book, 6 min ago; Deribit: live order book, 1 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 Hyperliquid live order book, 6 min ago | 0.05 bp | 6.2 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit live order book, 1 min ago | 3.53 bp | 7.0 bp −$7 | 12.0 bp −$120 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi HYPE/USDT-P | −0.1272% | 1h | 93.214 | −0.132% | $196K | $226K | 7x | as long as short |
| Arcus HYPE-USD | −0.0899% | 1h | 93.216 | −0.130% | $1.2M | $3.8M | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0086% | 1h | 93.170 | −0.179% | $700K | $980K | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.335 | −0.002% | $3K | $331 | 25x | as long as short |
| Phemex HYPEUSDT | −0.0063% | 8h | 93.262 | −0.080% | $12.6M | $2.7M | 50x | as long as short |
| 01 Exchange HYPEUSD | −0.0056% | 1h | 93.272 | −0.070% | $85K | $345K | 20x | as long as short |
| Aftermath Perps HYPEUSD | −0.0047% | 1h | 93.391 | +0.058% | $22K | $21K | 10x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0046% | 4h | 93.258 | −0.085% | $155K | $633K | 20x | as long as short |
| Bullet HYPE-USD | −0.0005% | 1h | 93.259 | −0.084% | $111K | $577K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.361 | +0.025% | $128K | $31K | 5x | as long as short |
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Ondo Perps HYPE-USD.P
Hotstuff HYPE-PERP
Phemex HYPEUSDT
01 Exchange HYPEUSD
Aftermath Perps HYPEUSD
Orderly PERP_HYPE_USDC
Bullet HYPE-USD
dYdX HYPE-USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Perpl HYPE | 0.0000% | 43m | 93.352 | +0.016% | $23K | $322K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0002% | 1h | 93.306 | −0.034% | $62K | — | 150x | as long as short |
| Aster HYPEUSDT | +0.0017% | 4h | 93.308 | −0.031% | $8.8M | $35.5M | 300x | as long as short |
| Phoenix HYPE | +0.0026% | 1h | 93.398 | +0.065% | $213K | $1.2M | 10x | as long as short |
| BingX HYPE-USDT | +0.0026% | 4h | 93.253 | −0.090% | — | $53.0M | — | as long as short |
| Bybit HYPEUSDT | +0.0032% | 8h | 93.290 | −0.050% | $321.1M | $277.1M | 75x | as long as short |
| Gate HYPE_USDT | +0.0050% | 4h | 93.276 | −0.065% | $44.5M | $54.8M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0077% | 8h | 93.304 | −0.035% | $114.1M | $302.0M | 50x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.301 | −0.038% | $16.3M | $61.6M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.276 | −0.065% | $3.1M | $11.6M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.300 | −0.040% | $69K | $1.2M | 50x | as long as short |
| MEXC HYPE_USDT | +0.0096% | 4h | 93.263 | −0.079% | $89.7M | $80.7M | 100x | as long as short |
| Binance HYPEUSDT | +0.0097% | 4h | 93.307 | −0.032% | $378.7M | $876.6M | 75x | as long as short |
| Paradex HYPE-USD-PERP | +0.0097% | 8h | 93.367 | +0.032% | $339K | $162K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.300 | −0.040% | $17K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.352 | +0.016% | $5.8M | $43.4M | 10x | as long as short |
| Hyperliquid HYPElong | +0.0100% | 1h | 93.337 | long leg | $2.04B | $653.2M | 10x | |
| Pacifica HYPE | +0.0100% | 1h | 93.366 | +0.031% | $10.0M | $14.6M | 20x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.580 | +0.260% | $204K | $10K | 10x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.298 | −0.042% | $45.9M | $18.1M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.316 | −0.022% | $225.6M | $96.7M | 75x | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.246 | −0.097% | $7.4M | $10.3M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.317 | −0.022% | $31.1M | $53.9M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.553 | +0.231% | $7.6M | $45.6M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.487 | +0.161% | $340K | $999K | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.323 | −0.015% | $666K | $2.6M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.334 | −0.004% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.312 | −0.027% | $471K | $2.5M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 94.251 | +0.979% | $80K | $170K | 20x | as long as short |
| Derive HYPE-PERP | +0.0100% | 1h | 93.270 | −0.072% | $16.2M | $7.5M | 10x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.331 | −0.006% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.279 | −0.062% | $2.0M | $1.9M | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.286 | −0.055% | $18.4M | $43.6M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.268 | −0.074% | $397K | $162K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0108% | 4h | 93.349 | +0.013% | $5.1M | $29.6M | 30x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0176% | 1h | 93.360 | +0.025% | $4.8M | $5.6M | 50x | as long as short |
| HTX HYPE-USDT | +0.0195% | 4h | 93.490 | +0.164% | $1.4M | $6.0M | 75x | as long as short |
| Reya HYPERUSDPERP | +0.0257% | 1h | 93.256 | −0.086% | $79K | $140K | 15x | as long as short |
| Kalshi KXHYPEPERP | +0.0277% | 8h | 93.353 | +0.017% | $1.9M | $5.1M | 2.3x | as long as short |
| Deribit HYPE_USDC-PERPETUALshort | +0.0286% | 1h | 93.371 | +0.036% | $7.4M | $4.4M | 50x | |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0331% / S −0.0156% | 1h | 93.303 | −0.036% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0337% | 4h | 93.271 | −0.071% | $16.9M | $11.6M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0510% | 1h | 93.414 | +0.082% | $3.2M | $6.4M | 20x | as long as short |
| Injective HYPE/USDC PERP | +0.0519% | 1h | 93.220 | −0.125% | $30K | $339K | 12x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0685% | 1h | 93.351 | +0.015% | $20.7M | $30.1M | 50x | as long as short |
Perpl HYPE
gTrade (Gains Network) HYPE/USD
Aster HYPEUSDT
Phoenix HYPE
BingX HYPE-USDT
Bybit HYPEUSDT
Gate HYPE_USDT
OKX HYPE-USDT-SWAP
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
MEXC HYPE_USDT
Binance HYPEUSDT
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Pacifica HYPE
Bulk HYPE-USD
KuCoin HYPEUSDTM
Bitget HYPEUSDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
Derive HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Extended HYPE-USD
Aevo HYPE-PERP
edgeX HYPEUSDC
Coinbase International HYPE-PERP-INTX
HTX HYPE-USDT
Reya HYPERUSDPERP
Kalshi KXHYPEPERP
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
RISEx HYPE/USDC
Injective HYPE/USDC PERP
Kraken Futures PF_HYPEUSD