HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0506%/8h= +55.4% APRnext payment +$0.63 per $10,000 · paid last 24h +0.030%

Price spread now: Deribit against Pacifica−0.032%7-day average +0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$220.225% of the position

Long on Pacifica Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 4 days (all we have)−0.061%−$6 · spread now −0.032%, 7d avg +0.025%

Together, before fees+0.002%+ Points / potential airdropPacifica: Active · farm board$0 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.056% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.032% now, against its 7-day average of +0.025%). If the spread goes back, that is −$6 on $10k: about 9 hours of funding at the current rate (+$15 a day). At the pace of the last 7 days (+0.064% in total) that is about 6.2 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.064% in total (about 3.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.63 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	Pacifica HYPE	92.366	0.0100	pay 0.0013% / 1h	43m 10s	$10.0M	$15.0M	20x
Short	Deribit HYPE_USDC-PERPETUAL	92.337	0.0606	get 0.0076% / 1h	43m 10s	$7.5M	$4.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Pacifica. 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 PacificabpFee DeribitbpOrdersPrice spread, now −0.032%Rate

Funding earned: $106.26
Price spread: −0.032% → +0.025%: −$5.65
Slippage, 4 orders: −$7.46
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $78.15
Costs to cover: 0.225%
Break-even: 1.9 days

Slippage from Pacifica: live order book, 1 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 Pacifica live order book, 1 min ago	0.05 bp	4.4 bp −$4	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 1 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	92.247	−0.129%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0536%	1h	92.271	−0.103%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0159%	1h	92.320	−0.051%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0128%	1h	92.323	−0.047%	$85K	$354K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.319	−0.051%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0070%	4h	92.220	−0.158%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0052%	1h	92.268	−0.106%	$110K	$579K	20x	as long as short
Aster HYPEUSDT	−0.0012%	4h	92.283	−0.091%	$8.7M	$36.4M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.316	−0.055%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.292	−0.081%	$22K	$310K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.283	−0.090%	$61K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0027%	1h	92.230	−0.148%	$696K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0030%	4h	92.248	−0.128%	—	$53.3M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.246	−0.130%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0048%	8h	92.230	−0.148%	$315.5M	$281.1M	75x	as long as short
Gate HYPE_USDT	+0.0054%	4h	92.230	−0.148%	$44.3M	$54.8M	75x	as long as short
Phemex HYPEUSDT	+0.0059%	8h	92.231	−0.147%	$12.5M	$2.7M	50x	as long as short
Derive HYPE-PERP	+0.0070%	1h	92.200	−0.180%	$16.0M	$7.5M	10x	as long as short
MEXC HYPE_USDT	+0.0074%	4h	92.225	−0.153%	$87.0M	$80.5M	100x	as long as short
Binance HYPEUSDT	+0.0076%	4h	92.256	−0.119%	$369.8M	$898.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	92.255	−0.121%	$112.7M	$301.6M	50x	as long as short
edgeX HYPEUSDC	+0.0078%	4h	92.205	−0.175%	$4.9M	$29.5M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0091%	8h	92.385	+0.020%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.249	−0.127%	$16.0M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.248	−0.128%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.325	−0.045%	$68K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	92.210	−0.169%	$390K	$164K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.260	−0.115%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.332	−0.038%	$5.8M	$43.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.281	−0.092%	$2.01B	$665.0M	10x	as long as short
Pacifica HYPElong	+0.0100%	1h	92.366	long leg	$10.0M	$15.0M	20x
Bulk HYPE-USD	+0.0100%	1h	92.245	−0.131%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.282	−0.091%	$45.8M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.243	−0.134%	$223.7M	$98.3M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.214	−0.165%	$7.3M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.158	−0.226%	$28.3M	$57.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.209	−0.171%	$7.5M	$45.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.186	−0.195%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.228	−0.150%	$662K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.343	−0.026%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.325	−0.045%	$475K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.271	−0.103%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.233	−0.144%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.388	+0.023%	$1.4M	$6.2M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.201	−0.180%	$18.1M	$43.5M	50x	as long as short
Bluefin HYPE-PERP	+0.0136%	1h	92.240	−0.137%	$78K	$169K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.686%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.420	+0.058%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0257%	8h	92.335	−0.034%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.268	−0.107%	$79K	$139K	15x	as long as short
BloFin HYPE-USDT	+0.0304%	4h	92.211	−0.168%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0329% / S −0.0153%	1h	92.279	−0.095%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0333%	1h	92.295	−0.078%	$20.5M	$30.4M	50x	as long as short
Deribit HYPE_USDC-PERPETUALshort	+0.0606%	1h	92.337	−0.032%	$7.5M	$4.4M	50x
RISEx HYPE/USDC	+0.0687%	1h	92.404	+0.041%	$3.1M	$6.4M	20x	as long as short