Settings8H · net · $10k
Funding arb · Price arb /

HYPE

all HYPE markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 07:00 UTC+0.0332%/8h= +36.3% APRpaid last 24h +0.089%
Price spread now: Deribit against Orderly+0.131%7-day average +0.053% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 7 days+0.150%+$15 on $10k
Price spread, last 4 days (all we have)−0.117%−$12 · spread now +0.131%, 7d avg +0.053%
Together, before fees+0.034%+$3 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 0.079% dearer against Orderly than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.053%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.150% in total (about 7.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOrderly PERP_HYPE_USDC93.765−0.0017get 0.0008% / 4h1h 56m$149K$680K20x
ShortDeribit HYPE_USDC-PERPETUAL93.8880.0315get 0.0039% / 1h56m 06s$7.4M$4.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Orderly. 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
$69.7
Price spread: +0.131% → +0.053%
$7.86
Slippage, 4 orders
no order book: not counted
Fee Orderly: 3 bp × 2 orders
−$6
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$64.56
Costs to cover
0.130%
Break-even
0.5 days
Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Orderly no order-book sample
Sell Deribit live order book, 3 min ago0.43 bp8.3 bp −$813.9 bp −$139doesn't fitdoesn't fit
Orderly: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1224%1h93.798+0.036%$199K$243K7xas long as short
Aftermath Perps HYPEUSD−0.0272%1h94.032+0.285%$22K$21K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.992+0.242%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0056%1h93.798+0.035%$86K$372K20xas long as short
Orderly PERP_HYPE_USDClong−0.0017%4h93.765long leg$149K$680K20x
Ondo Perps HYPE-USD.P−0.0010%1h93.770+0.005%$707K$1.2M10xas long as short
dYdX HYPE-USD0.0000%1h93.813+0.051%$129K$29K5xas long as short
Perpl HYPE0.0000%43m93.831+0.070%$22K$285K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.823+0.062%$63K150xas long as short
Bluefin HYPE-PERP+0.0003%1h93.785+0.021%$79K$166K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX HYPE-USDT+0.0012%4h93.797+0.034%$53.8Mas long as short
Bybit HYPEUSDT+0.0018%8h93.779+0.015%$316.9M$287.3M75xas long as short
Phoenix HYPE+0.0026%1h93.872+0.114%$209K$1.1M10xas long as short
Bitget HYPEUSDT+0.0040%4h93.789+0.026%$226.0M$99.4M75xas long as short
Phemex HYPEUSDT+0.0060%8h93.818+0.057%$12.8M$2.8M50xas long as short
edgeX HYPEUSDC+0.0080%4h93.922+0.167%$5.0M$30.4M30xas long as short
Arcus HYPE-USD+0.0084%1h93.799+0.036%$1.0M$4.0M10xas long as short
Paradex HYPE-USD-PERP+0.0091%8h93.845+0.085%$341K$158K20xas long as short
Lighter HYPE+0.0096%1h93.799+0.036%$16.2M$63.1M20xas long as short
Lighter RH HYPE+0.0096%1h93.798+0.035%$3.1M$11.1M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.791+0.028%$78K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h93.770+0.005%$20K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.794+0.031%$6.3M$50.3M10xas long as short
Hyperliquid HYPE+0.0100%1h93.885+0.128%$2.05B$683.0M10xas long as short
Aster HYPEUSDT+0.0100%4h93.795+0.032%$8.9M$37.3M300xas long as short
Pacifica HYPE+0.0100%1h93.832+0.071%$10.1M$15.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.789+0.026%$377.0M$928.8M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.795+0.032%$115.8M$316.7M50xas long as short
Bulk HYPE-USD+0.0100%1h94.213+0.478%$217K$15K10xas long as short
Gate HYPE_USDT+0.0100%4h93.783+0.019%$48.3M$54.7M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.785+0.021%$87.9M$82.9M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.790+0.027%$46.3M$18.9M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.817+0.055%$7.2M$10.8M20xas long as short
Variational Omni HYPE+0.0100%8h94.028+0.280%$28.8M$56.5Mas long as short
GRVT HYPE_USDT_Perp+0.0100%4h94.099+0.356%$7.7M$48.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h94.152+0.413%$344K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.875+0.117%$680K$2.8M20xas long as short
Vest HYPE-PERP+0.0100%1h93.871+0.113%$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.818+0.057%$476K$2.8M20xas long as short
Bullet HYPE-USD+0.0100%1h93.804+0.042%$112K$581K20xas long as short
Derive HYPE-PERP+0.0100%1h93.774+0.010%$16.4M$7.5M10xas long as short
SunX HYPE-USDT+0.0100%4h93.893+0.137%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.779+0.015%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h93.965+0.213%$1.4M$6.6M75xas long as short
Extended HYPE-USD+0.0104%1h93.764−0.001%$18.3M$43.3M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.797+0.034%$396K$159K20xas long as short
Kalshi KXHYPEPERP+0.0110%8h93.901+0.145%$1.8M$5.6M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0120%1h93.870+0.112%$4.7M$6.1M50xas long as short
Injective HYPE/USDC PERP+0.0205%1h93.760−0.005%$30K$339K12xas long as short
Reya HYPERUSDPERP+0.0270%1h93.794+0.030%$77K$130K15xas long as short
Deribit HYPE_USDC-PERPETUALshort+0.0315%1h93.888+0.131%$7.4M$4.2M50x
GMX HYPE/USD [WBTC.b-USDC]L +0.0333% / S −0.0154%1h93.819+0.057%$1.4M100xas long as short
BloFin HYPE-USDT+0.0340%4h93.808+0.046%$17.1M$12.2M75xas long as short
Kraken Futures PF_HYPEUSD+0.0414%1h93.865+0.106%$20.9M$29.6M50xas long as short
RISEx HYPE/USDC+0.0559%1h93.840+0.079%$3.2M$6.4M20xas long as short