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

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 02:00 UTC+0.0128%/8h= +14.0% APRnext payment +$0.16 per $10,000 · paid last 24h −0.014%
Price spread now: Bullet against Backpack+0.044%7-day average +0.007% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$240.242% of the position
Long on BackpackShort on Bullet
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.036%−$4 on $10k
Price spread, last 4 days (all we have)+1.098%+$110 · spread now +0.044%, 7d avg +0.007%
Together, before fees+1.062%+$106 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Bullet is 0.037% dearer against Backpack than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.007%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack HYPE_USDC_PERP93.397−0.0068get 0.0009% / 1h32m 30s$7.8M$10.4M20x
ShortBullet HYPE-USD93.4380.0059get 0.0007% / 1h32m 30s$112K$578K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet 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

Funding earned
$26.78
Price spread: +0.044% → +0.007%
$3.67
Slippage, 4 orders
−$6.16
Fee Backpack: 5 bp × 2 orders
−$10
Fee Bullet: 4 bp × 2 orders
−$8
Net
$6.29
Costs to cover
0.242%
Break-even
5.4 days
Slippage from Backpack: live order book, 2 min ago; Bullet: live order book, 37 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Backpack live order book, 2 min ago0.05 bp5.1 bp −$56.3 bp −$6334.7 bp −$3,472doesn't fit
Sell Bullet live order book, 37 min ago0.64 bp7.2 bp −$710.6 bp −$106doesn't fitdoesn't fit

HYPE on 54 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−0.0888%1h93.443+0.049%$196K$231K7xas long as short
Arcus HYPE-USD−0.0786%1h93.522+0.134%$1.2M$3.9M10xas long as short
Aftermath Perps HYPEUSD−0.0167%1h93.383−0.014%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0093%1h93.560+0.175%$698K$988K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.482+0.091%$3K$33125xas long as short
Phemex HYPEUSDT−0.0077%8h93.417+0.021%$12.7M$2.7M50xas long as short
Backpack HYPE_USDC_PERPlong−0.0068%1h93.397long leg$7.8M$10.4M20x
01 Exchange HYPEUSD−0.0064%1h93.662+0.284%$86K$351K20xas long as short
Orderly PERP_HYPE_USDC−0.0057%4h93.410+0.014%$156K$652K20xas long as short
Gate HYPE_USDT−0.0056%4h93.627+0.246%$44.4M$54.6M75xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT−0.0024%4h93.544+0.157%$8.9M$36.2M300xas long as short
dYdX HYPE-USD0.0000%1h93.622+0.241%$128K$31K5xas long as short
Perpl HYPE0.0000%43m93.612+0.230%$22K$331K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.440+0.046%$26K—150xas long as short
BingX HYPE-USDT+0.0006%4h93.625+0.244%—$53.8M—as long as short
Bybit HYPEUSDT+0.0006%8h93.630+0.249%$321.7M$285.2M75xas long as short
MEXC HYPE_USDT+0.0054%4h93.633+0.253%$88.1M$82.7M100xas long as short
Binance HYPEUSDT+0.0054%4h93.630+0.249%$380.9M$904.0M75xas long as short
edgeX HYPEUSDC+0.0059%4h93.458+0.065%$5.1M$30.0M30xas long as short
Bullet HYPE-USDshort+0.0059%1h93.438+0.044%$112K$578K20x
Phoenix HYPE+0.0060%1h93.170−0.243%$210K$1.2M10xas long as short
OKX HYPE-USDT-SWAP+0.0065%8h93.665+0.287%$115.1M$315.3M50xas long as short
Derive HYPE-PERP+0.0076%1h93.401+0.004%$16.2M$7.7M10xas long as short
Paradex HYPE-USD-PERP+0.0094%8h93.646+0.266%$340K$165K20xas long as short
Lighter HYPE+0.0096%1h93.624+0.243%$16.4M$62.4M20xas long as short
Lighter RH HYPE+0.0096%1h93.572+0.187%$3.1M$11.9M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.655+0.276%$66K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.435+0.041%$397K$177K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.590+0.207%$21K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.641+0.261%$5.7M$45.2M10xas long as short
Hyperliquid HYPE+0.0100%1h93.753+0.381%$2.05B$670.3M10xas long as short
Pacifica HYPE+0.0100%1h93.619+0.237%$10.1M$14.8M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.628+0.247%$46.1M$18.3M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.673+0.296%$226.6M$100.3M75xas long as short
Variational Omni HYPE+0.0100%8h93.411+0.014%$31.0M$54.9M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.516+0.127%$7.5M$48.3M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.468+0.076%$338K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h93.477+0.086%$667K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.666+0.288%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.708+0.333%$469K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.428+0.033%$79K$173K20xas long as short
SunX HYPE-USDT+0.0100%4h93.499+0.109%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.432+0.037%$2.0M$2.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.348−0.053%$203K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.607+0.224%$18.4M$44.5M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.440+0.046%$4.9M$5.6M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.490+0.100%$30K$339K12xas long as short
RISEx HYPE/USDC+0.0210%1h93.676+0.299%$2.7M$6.7M20xas long as short
HTX HYPE-USDT+0.0218%4h93.571+0.186%$1.4M$6.2M75xas long as short
Reya HYPERUSDPERP+0.0254%1h93.667+0.289%$80K$140K15xas long as short
Kalshi KXHYPEPERP+0.0266%8h93.577+0.193%$1.9M$5.1M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0334% / S −0.0158%1h93.449+0.055%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0445%1h93.531+0.143%$7.5M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0682%1h93.528+0.140%$20.9M$30.1M50xas long as short