Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.032%
Price spread now: dYdX against Backpack+0.015%7-day average −0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs−$90as in the Funding arb table
Net, price: spread back to 7d avg − costs−$67as in the Price arb table
costs, in and out, $10k−$710.707% of the position
Funding, last 7 days−0.189%−$19 on $10k
+Price spread, last 4 days (all we have)−0.193%−$19 · spread now +0.015%, 7d avg −0.020%
=The price spread pays, funding is against you. dYdX is 0.035% dearer against Backpack than usual: you sell high and buy low (spread +0.015% now, against its 7-day average of −0.020%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 28 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack HYPE_USDC_PERP | 93.330 | 0.0100 | pay 0.0013% / 1h | 40m 19s | $7.9M | $11.2M | 20x |
| Short | dYdX HYPE-USD | 93.344 | 0 | get 0.0000% / 1h | 40m 19s | $127K | $32K | 5x |
Backpack HYPE_USDC_PERP
dYdX HYPE-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX against Backpack. 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
- −$21
- Price spread: +0.015% → −0.020%
- $3.55
- Slippage, 4 orders
- −$50.71
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$88.16
- Costs to cover
- 0.707%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 4 min ago; dYdX: live order book, 44 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 | 6.7 bp −$67 | 99.9 bp −$9,988 | doesn't fit |
| Sell dYdX live order book, 44 min ago | 25.29 bp | 30.3 bp −$30 | 73.1 bp −$731 | 167.1 bp −$16.7K | 650.6 bp −$325.3K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps HYPEUSD | −0.0360% | 1h | 93.275 | −0.059% | $22K | $22K | 10x | as long as short |
| Hibachi HYPE/USDT-P | −0.0160% | 1h | 93.252 | −0.084% | $197K | $230K | 7x | as long as short |
| Arcus HYPE-USD | −0.0131% | 1h | 93.266 | −0.069% | $1.2M | $4.0M | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.329 | −0.001% | $3K | $331 | 25x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0068% | 1h | 93.270 | −0.064% | $700K | $924K | 10x | as long as short |
| 01 Exchange HYPEUSD | −0.0008% | 1h | 93.312 | −0.019% | $90K | $361K | 20x | as long as short |
| dYdX HYPE-USDshort | 0.0000% | 1h | 93.344 | +0.015% | $127K | $32K | 5x | |
| Popdex HYPEUSDT | 0.0000% | 1h | 93.291 | −0.042% | $58K | $1.2M | 50x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.313 | −0.018% | $23K | $331K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0001% | 1h | 93.323 | −0.008% | $20K | — | 150x | as long as short |
Aftermath Perps HYPEUSD
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Hotstuff HYPE-PERP
Ondo Perps HYPE-USD.P
01 Exchange HYPEUSD
Popdex HYPEUSDT
Perpl HYPE
gTrade (Gains Network) HYPE/USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster HYPEUSDT | +0.0014% | 4h | 93.293 | −0.040% | $8.9M | $36.0M | 300x | as long as short |
| Derive HYPE-PERP | +0.0016% | 1h | 93.235 | −0.102% | $16.3M | $7.1M | 10x | as long as short |
| Bybit HYPEUSDT | +0.0029% | 8h | 93.282 | −0.051% | $323.9M | $286.8M | 75x | as long as short |
| Phoenix HYPE | +0.0034% | 1h | 93.374 | +0.047% | $214K | $1.2M | 10x | as long as short |
| Orderly PERP_HYPE_USDC | +0.0035% | 4h | 93.273 | −0.061% | $171K | $519K | 20x | as long as short |
| Gate HYPE_USDT | +0.0056% | 4h | 93.298 | −0.034% | $43.7M | $57.8M | 75x | as long as short |
| Bullet HYPE-USD | +0.0060% | 1h | 93.287 | −0.046% | $112K | $578K | 20x | as long as short |
| Binance HYPEUSDT | +0.0096% | 4h | 93.278 | −0.055% | $383.5M | $892.0M | 75x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.347 | +0.018% | $18.5M | $58.7M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.323 | −0.008% | $3.1M | $12.1M | 20x | as long as short |
| MEXC HYPE_USDT | +0.0096% | 4h | 93.288 | −0.045% | $90.4M | $81.6M | 100x | as long as short |
| Paradex HYPE-USD-PERP | +0.0099% | 8h | 93.305 | −0.027% | $339K | $170K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.290 | −0.043% | $40K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.285 | −0.048% | $5.9M | $44.0M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.335 | +0.005% | $2.03B | $672.4M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.329 | −0.001% | $10.0M | $14.3M | 20x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.264 | −0.071% | $114.0M | $313.9M | 50x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.390 | +0.064% | $204K | $10K | 10x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.329 | −0.001% | $47.2M | $18.9M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.284 | −0.049% | $226.2M | $102.8M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.295 | −0.038% | — | $54.0M | — | as long as short |
| Backpack HYPE_USDC_PERPlong | +0.0100% | 1h | 93.330 | long leg | $7.9M | $11.2M | 20x | |
| Variational Omni HYPE | +0.0100% | 8h | 93.354 | +0.026% | $29.0M | $50.5M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.228 | −0.109% | $7.5M | $45.6M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.375 | +0.048% | $413K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.385 | +0.059% | $675K | $2.5M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.341 | +0.012% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.326 | −0.004% | $493K | $2.6M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.268 | −0.066% | $76K | $167K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.347 | +0.018% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.261 | −0.074% | $2.0M | $2.0M | 10x | as long as short |
| Phemex HYPEUSDT | +0.0100% | 8h | 93.315 | −0.016% | $12.7M | $2.6M | 50x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.237 | −0.100% | $18.2M | $42.0M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.236 | −0.100% | $397K | $318K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0104% | 4h | 93.291 | −0.042% | $5.1M | $29.5M | 30x | as long as short |
| Kalshi KXHYPEPERP | +0.0107% | 8h | 93.452 | +0.131% | $1.9M | $5.3M | 2.3x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0176% | 1h | 93.350 | +0.021% | $4.9M | $5.7M | 50x | as long as short |
| Injective HYPE/USDC PERP | +0.0239% | 1h | 93.340 | +0.011% | $30K | $338K | 12x | as long as short |
| Reya HYPERUSDPERP | +0.0246% | 1h | 93.296 | −0.036% | $78K | $158K | 15x | as long as short |
| HTX HYPE-USDT | +0.0269% | 4h | 93.471 | +0.151% | $1.5M | $7.7M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0280% | 1h | 93.363 | +0.035% | $2.8M | $6.8M | 20x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0307% | 1h | 93.359 | +0.031% | $7.4M | $4.6M | 50x | as long as short |
| BloFin HYPE-USDT | +0.0337% | 4h | 93.319 | −0.012% | $16.9M | $12.4M | 75x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0340% / S −0.0159% | 1h | 93.326 | −0.004% | $1.5M | — | 100x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0465% | 1h | 93.372 | +0.044% | $20.9M | $28.8M | 50x | as long as short |
Aster HYPEUSDT
Derive HYPE-PERP
Bybit HYPEUSDT
Phoenix HYPE
Orderly PERP_HYPE_USDC
Gate HYPE_USDT
Bullet HYPE-USD
Binance HYPEUSDT
Lighter HYPE
Lighter RH HYPE
MEXC HYPE_USDT
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
OKX HYPE-USDT-SWAP
Bulk HYPE-USD
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Phemex HYPEUSDT
Extended HYPE-USD
Aevo HYPE-PERP
edgeX HYPEUSDC
Kalshi KXHYPEPERP
Coinbase International HYPE-PERP-INTX
Injective HYPE/USDC PERP
Reya HYPERUSDPERP
HTX HYPE-USDT
RISEx HYPE/USDC
Deribit HYPE_USDC-PERPETUAL
BloFin HYPE-USDT
GMX HYPE/USD [WBTC.b-USDC]
Kraken Futures PF_HYPEUSD