HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0047%/8h= +5.2% APRnext payment +$0.06 per $10,000 · paid last 24h 0.000%

Price spread now: Aevo against Backpack+0.070%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$238as in the Funding arb table

Net, price: spread back to 7d avg − costs−$226as in the Price arb table

costs, in and out, $10k−$2342.345% of the position

Long on Backpack Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 4 days (all we have)−0.173%−$17 · spread now +0.070%, 7d avg −0.012%

Together, before fees−0.211%−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Aevo is 0.081% dearer against Backpack than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack HYPE_USDC_PERP	95.100	0.0057	pay 0.0007% / 1h	5m 08s	$7.5M	$10.1M	20x
Short	Aevo HYPE-PERP	95.166	0.0104	get 0.0013% / 1h	5m 08s	$402K	$136K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Backpack. 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 BackpackbpFee AevobpOrdersPrice spread, now +0.070%Rate

Funding earned: $9.88
Price spread: +0.070% → −0.012%: $8.11
Slippage, 4 orders: −$208.49
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$216.5
Costs to cover: 2.345%
Break-even: 160.4 days

Slippage from Backpack: live order book, 4 min ago; Aevo: live order book, 29 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 Backpack live order book, 4 min ago	0.05 bp	5.1 bp −$5	7.1 bp −$71	37.6 bp −$3,763	doesn't fit
Sell Aevo live order book, 29 min ago	90.27 bp	124.8 bp −$125	168.1 bp −$1,681	doesn't fit	doesn't fit

HYPE on 54 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	−0.0968%	1h	95.175	+0.079%	$212K	$265K	7x	as long as short
Bluefin HYPE-PERP	−0.0540%	1h	95.111	+0.012%	$79K	$148K	20x	as long as short
Phemex HYPEUSDT	−0.0264%	8h	95.203	+0.108%	$13.0M	$2.8M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0229%	1h	95.216	+0.122%	$22K	$19K	10x	as long as short
Bullet HYPE-USD	−0.0198%	1h	95.148	+0.050%	$113K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0142%	1h	95.230	+0.137%	$696K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	95.178	+0.082%	$91K	$357K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	95.192	+0.097%	$1.0M	$3.1M	10x	as long as short
dYdX HYPE-USD	−0.0107%	1h	95.256	+0.164%	$131K	$93K	5x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.265	+0.174%	$3K	$331	25x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_HYPEUSD	−0.0047%	1h	95.169	+0.073%	$18.9M	$35.7M	50x	as long as short
Gate HYPE_USDT	−0.0034%	4h	95.152	+0.055%	$53.1M	$57.0M	75x	as long as short
Vest HYPE-PERP	−0.0011%	1h	95.246	+0.154%	—	$126K	5x	as long as short
Orderly PERP_HYPE_USDC	−0.0005%	4h	95.137	+0.039%	$148K	$669K	20x	as long as short
BingX HYPE-USDT	−0.0004%	4h	95.121	+0.022%	—	$50.7M	—	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	95.230	+0.137%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	95.170	+0.074%	$19K	$272K	10x	as long as short
Bybit HYPEUSDT	+0.0001%	8h	95.161	+0.064%	$319.9M	$283.1M	75x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.298	+0.208%	$87K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	95.295	+0.205%	$212K	$1.2M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	95.170	+0.074%	$4.7M	$5.7M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0032%	8h	95.127	+0.028%	$118.7M	$322.2M	50x	as long as short
Bitget HYPEUSDT	+0.0046%	4h	95.128	+0.029%	$228.5M	$93.9M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0051%	8h	95.267	+0.175%	$341K	$38K	20x	as long as short
Backpack HYPE_USDC_PERPlong	+0.0057%	1h	95.100	long leg	$7.5M	$10.1M	20x
Aster HYPEUSDT	+0.0087%	4h	95.171	+0.074%	$9.0M	$36.4M	300x	as long as short
SoDEX HYPE-USD	+0.0093%	1h	95.164	+0.067%	$2.1M	$1.7M	10x	as long as short
Lighter HYPE	+0.0096%	1h	95.164	+0.067%	$16.3M	$64.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.166	+0.069%	$3.2M	$10.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.173	+0.077%	$273K	$1.3M	50x	as long as short
edgeX HYPEUSDC	+0.0097%	4h	95.221	+0.127%	$5.1M	$31.0M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.170	+0.074%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.160	+0.064%	$7.2M	$55.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.258	+0.166%	$2.10B	$672.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.271	+0.180%	$10.3M	$14.1M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	95.144	+0.046%	$382.9M	$910.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.176	+0.080%	$222K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	95.145	+0.047%	$87.4M	$89.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.205	+0.110%	$47.5M	$18.4M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.229	+0.136%	$29.9M	$55.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.275	+0.184%	$7.7M	$43.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.259	+0.167%	$349K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.261	+0.169%	$693K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.196	+0.101%	$501K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.096	−0.004%	$32K	$1.5M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.272	+0.181%	$1.4M	$6.7M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.140	+0.042%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERPshort	+0.0104%	1h	95.166	+0.070%	$402K	$136K	20x
RISEx HYPE/USDC	+0.0133%	1h	95.195	+0.100%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.480	+0.400%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0191%	1h	95.251	+0.159%	$7.5M	$4.4M	50x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	95.116	+0.016%	$84K	$90K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.317	+0.228%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.168	+0.072%	$17.2M	$12.3M	75x	as long as short