Funding you earn now, next payment 04:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.04 per $10,000 · paid last 24h −0.014%
Price spread now: Derive against Polymarket Perps−0.041%7-day average −0.030% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.023%+$2 on $10k
+Price spread, last 4 days (all we have)−0.078%−$8 · spread now −0.041%, 7d avg −0.030%
=The price spread sits at its 7-day average of −0.030%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps HYPE-USD | 92.228 | 0.0100 | pay 0.0013% / 1h | 41m 52s | $474K | $2.6M | 20x |
| Short | Derive HYPE-PERP | 92.190 | 0.0070 | get 0.0009% / 1h | 41m 52s | $16.0M | $7.5M | 10x |
Polymarket Perps HYPE-USD
Derive HYPE-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive against Polymarket Perps. 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
- −$6.38
- Price spread: −0.041% → −0.030%
- −$1.13
- Slippage, 4 orders
- no order book: not counted
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$21.51
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Polymarket Perps: live order book, 2 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 Polymarket Perps live order book, 2 min ago | 0.05 bp | 4.7 bp −$5 | 6.7 bp −$67 | 11.5 bp −$1,147 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus HYPE-USD | −0.0948% | 1h | 92.192 | −0.039% | $1.2M | $3.8M | 10x | as long as short |
| Hibachi HYPE/USDT-P | −0.0520% | 1h | 92.314 | +0.094% | $193K | $229K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0165% | 1h | 92.313 | +0.092% | $22K | $21K | 10x | as long as short |
| 01 Exchange HYPEUSD | −0.0128% | 1h | 92.222 | −0.007% | $85K | $355K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 92.205 | −0.025% | $3K | $331 | 25x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0070% | 4h | 92.195 | −0.036% | $157K | $663K | 20x | as long as short |
| Bullet HYPE-USD | −0.0059% | 1h | 92.203 | −0.027% | $110K | $579K | 20x | as long as short |
| Aster HYPEUSDT | −0.0005% | 4h | 92.254 | +0.028% | $8.7M | $36.4M | 300x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 92.232 | +0.004% | $126K | $31K | 5x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 92.214 | −0.016% | $22K | $310K | 10x | as long as short |
Arcus HYPE-USD
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
01 Exchange HYPEUSD
Hotstuff HYPE-PERP
Orderly PERP_HYPE_USDC
Bullet HYPE-USD
Aster HYPEUSDT
dYdX HYPE-USD
Perpl HYPEShow 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 | 92.231 | +0.003% | $61K | — | 150x | as long as short |
| Ondo Perps HYPE-USD.P | +0.0026% | 1h | 92.180 | −0.052% | $696K | $1.1M | 10x | as long as short |
| BingX HYPE-USDT | +0.0030% | 4h | 92.290 | +0.067% | — | $53.3M | — | as long as short |
| Phoenix HYPE | +0.0043% | 1h | 92.246 | +0.020% | $209K | $1.2M | 10x | as long as short |
| Bybit HYPEUSDT | +0.0050% | 8h | 92.280 | +0.056% | $315.6M | $281.2M | 75x | as long as short |
| Gate HYPE_USDT | +0.0056% | 4h | 92.282 | +0.059% | $44.3M | $54.9M | 75x | as long as short |
| Derive HYPE-PERPshort | +0.0070% | 1h | 92.190 | −0.041% | $16.0M | $7.5M | 10x | |
| Phemex HYPEUSDT | +0.0074% | 8h | 92.240 | +0.013% | $12.5M | $2.7M | 50x | as long as short |
| MEXC HYPE_USDT | +0.0076% | 4h | 92.260 | +0.035% | $87.1M | $80.5M | 100x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0077% | 8h | 92.300 | +0.078% | $112.8M | $302.0M | 50x | as long as short |
| edgeX HYPEUSDC | +0.0078% | 4h | 92.205 | −0.025% | $4.9M | $29.5M | 30x | as long as short |
| Binance HYPEUSDT | +0.0080% | 4h | 92.292 | +0.069% | $370.0M | $899.5M | 75x | as long as short |
| Paradex HYPE-USD-PERP | +0.0091% | 8h | 92.261 | +0.036% | $338K | $163K | 20x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 92.249 | +0.022% | $16.0M | $62.4M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 92.244 | +0.017% | $3.1M | $11.7M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 92.216 | −0.013% | $68K | $1.2M | 50x | as long as short |
| Katana Perps HYPE-USD | +0.0099% | 8h | 92.200 | −0.030% | $31K | $1.7M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 92.188 | −0.044% | $6.0M | $43.3M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 92.300 | +0.078% | $2.01B | $665.2M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 92.249 | +0.023% | $10.0M | $15.0M | 20x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 92.245 | +0.018% | $201K | $13K | 10x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 92.272 | +0.048% | $45.9M | $18.3M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 92.256 | +0.030% | $223.7M | $98.4M | 75x | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 92.237 | +0.010% | $7.3M | $10.3M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 92.158 | −0.076% | $28.3M | $57.3M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 92.209 | −0.021% | $7.5M | $45.9M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 92.186 | −0.046% | $337K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 92.325 | +0.105% | $663K | $2.7M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 92.272 | +0.048% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USDlong | +0.0100% | 1h | 92.228 | long leg | $474K | $2.6M | 20x | |
| Bluefin HYPE-PERP | +0.0100% | 1h | 92.218 | −0.011% | $78K | $169K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 92.252 | +0.026% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 92.230 | +0.002% | $2.0M | $2.0M | 10x | as long as short |
| HTX HYPE-USDT | +0.0100% | 4h | 92.368 | +0.152% | $1.4M | $6.2M | 75x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 92.234 | +0.006% | $18.1M | $43.5M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 92.221 | −0.008% | $390K | $164K | 20x | as long as short |
| Injective HYPE/USDC PERP | +0.0150% | 1h | 93.000 | +0.837% | $30K | $339K | 12x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0160% | 1h | 92.230 | +0.002% | $4.7M | $5.5M | 50x | as long as short |
| Kalshi KXHYPEPERP | +0.0257% | 8h | 92.242 | +0.015% | $1.8M | $5.4M | 2.3x | as long as short |
| Reya HYPERUSDPERP | +0.0261% | 1h | 92.201 | −0.030% | $79K | $138K | 15x | as long as short |
| BloFin HYPE-USDT | +0.0304% | 4h | 92.211 | −0.018% | $16.7M | $11.5M | 75x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0330% / S −0.0154% | 1h | 92.234 | +0.007% | $1.4M | — | 100x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0333% | 1h | 92.295 | +0.073% | $20.5M | $30.4M | 50x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0552% | 1h | 92.324 | +0.104% | $7.5M | $4.4M | 50x | as long as short |
| RISEx HYPE/USDC | +0.0687% | 1h | 92.286 | +0.063% | $3.1M | $6.4M | 20x | as long as short |
gTrade (Gains Network) HYPE/USD
Ondo Perps HYPE-USD.P
BingX HYPE-USDT
Phoenix HYPE
Bybit HYPEUSDT
Gate HYPE_USDT
Phemex HYPEUSDT
MEXC HYPE_USDT
OKX HYPE-USDT-SWAP
edgeX HYPEUSDC
Binance HYPEUSDT
Paradex HYPE-USD-PERP
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
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
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
HTX HYPE-USDT
Extended HYPE-USD
Aevo HYPE-PERP
Injective HYPE/USDC PERP
Coinbase International HYPE-PERP-INTX
Kalshi KXHYPEPERP
Reya HYPERUSDPERP
BloFin HYPE-USDT
GMX HYPE/USD [WBTC.b-USDC]
Kraken Futures PF_HYPEUSD
Deribit HYPE_USDC-PERPETUAL
RISEx HYPE/USDC