HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0329%/8h= +36.0% APRnext payment +$0.41 per $10,000 · paid last 24h +0.031%

Price spread now: Deribit against StandX+0.105%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on StandX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

Price spread, last 4 days (all we have)−0.200%−$20 · spread now +0.105%, 7d avg +0.045%

Together, before fees−0.231%+ Points / potential airdropStandX: Active · farm board−$23 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 0.060% dearer against StandX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.045%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.031% in total (about -1.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.41 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	StandX HYPE-USD	92.772	0.0100	pay 0.0013% / 1h	19m 03s	$665K	$2.7M	20x
Short	Deribit HYPE_USDC-PERPETUAL	92.869	0.0429	get 0.0054% / 1h	19m 03s	$7.5M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against StandX. 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 StandXbpFee DeribitbpOrdersPrice spread, now +0.105%Rate

Funding earned: $69.09
Price spread: +0.105% → +0.045%: $6
Slippage, 4 orders: −$11.43
Fee StandX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $48.66
Costs to cover: 0.264%
Break-even: 2.1 days

Slippage from StandX: live order book, 5 min ago; Deribit: live order book, 5 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 StandX live order book, 5 min ago	1.35 bp	5.3 bp −$5	5.6 bp −$56	13.6 bp −$1,361	doesn't fit
Sell Deribit live order book, 5 min ago	1.51 bp	8.1 bp −$8	12.6 bp −$126	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	92.709	−0.068%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0256%	1h	92.721	−0.055%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0239%	1h	92.706	−0.071%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.765	−0.008%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.751	−0.023%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	92.813	+0.044%	$86K	$361K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.770	−0.002%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.785	+0.014%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.790	+0.019%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0022%	8h	92.726	−0.050%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0032%	1h	92.767	−0.005%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	+0.0038%	1h	92.700	−0.078%	$697K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0040%	4h	92.765	−0.008%	—	$53.4M	—	as long as short
Aster HYPEUSDT	+0.0042%	4h	92.777	+0.005%	$8.7M	$36.2M	300x	as long as short
Phoenix HYPE	+0.0043%	1h	92.817	+0.049%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0048%	8h	92.690	−0.088%	$316.5M	$281.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0088%	8h	92.698	−0.080%	$113.7M	$303.9M	50x	as long as short
Gate HYPE_USDT	+0.0090%	4h	92.764	−0.009%	$44.5M	$55.3M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	92.794	+0.024%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.790	+0.020%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.788	+0.017%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.784	+0.013%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.760	−0.013%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.761	−0.011%	$7.1M	$45.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.814	+0.045%	$2.02B	$663.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.790	+0.019%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.738	−0.037%	$372.4M	$903.5M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.711	−0.066%	$87.4M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.740	−0.034%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.699	−0.079%	$224.4M	$98.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.760	−0.013%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.688	−0.091%	$28.6M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.707	−0.070%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.749	−0.025%	$350K	$1.0M	50x	as long as short
StandX HYPE-USDlong	+0.0100%	1h	92.772	long leg	$665K	$2.7M	20x
Vest HYPE-PERP	+0.0100%	1h	92.822	+0.054%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.790	+0.019%	$466K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.757	−0.016%	$78K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.762	−0.011%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.798	+0.028%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.771	−0.001%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.915	+0.154%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.701	−0.076%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.669	−0.111%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.775	+0.003%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0116%	4h	92.666	−0.114%	$5.0M	$29.5M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.246%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.810	+0.041%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0239%	8h	92.825	+0.057%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0262%	1h	92.773	+0.001%	$79K	$132K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.784	+0.013%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.843	+0.077%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.775	+0.003%	$16.7M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUALshort	+0.0429%	1h	92.869	+0.105%	$7.5M	$4.5M	50x
RISEx HYPE/USDC	+0.0687%	1h	92.842	+0.075%	$3.2M	$6.4M	20x	as long as short