HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Extended against Backpack−0.042%7-day average −0.274% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs+$5as in the Price arb table

costs, in and out, $10k−$180.178% of the position

Long on Backpack Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 7 days+0.777%+$78 · spread now −0.042%, 7d avg −0.274%

Together, before fees+0.747%+ Points / potential airdropExtended: Active · farm board+$75 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.232% dearer against Backpack than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.274%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack HYPE_USDC_PERP	93.938	0.0100	pay 0.0013% / 1h	12m 07s	$7.9M	$10.5M	20x
Short	Extended HYPE-USD	93.899	0.0104	get 0.0013% / 1h	12m 07s	$18.3M	$42.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.042%Rate

Funding earned: $0.84
Price spread: −0.042% → −0.274%: $23.18
Slippage, 4 orders: −$2.79
Fee Backpack: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $6.23
Costs to cover: 0.178%
Break-even: from the start

Slippage from Backpack: live order book, 2 min ago; Extended: live order book, 2 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, 2 min ago	0.05 bp	5.1 bp −$5	6.9 bp −$69	146.4 bp −$14.6K	doesn't fit
Sell Extended live order book, 2 min ago	0.05 bp	2.6 bp −$3	2.8 bp −$28	21.4 bp −$2,142	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
Hibachi HYPE/USDT-P	−0.1176%	1h	93.700	−0.253%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0401%	1h	93.836	−0.108%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.756	−0.194%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0094%	1h	93.800	−0.147%	$705K	$916K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.822	−0.123%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.843	−0.101%	$86K	$368K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0002%	4h	93.908	−0.032%	$169K	$588K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.845	−0.099%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.866	−0.077%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.931	−0.007%	$27K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0009%	1h	93.963	+0.027%	$216K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.911	−0.029%	$8.9M	$36.1M	300x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	93.951	+0.014%	$323.2M	$283.9M	75x	as long as short
Derive HYPE-PERP	+0.0027%	1h	93.859	−0.085%	$16.4M	$7.1M	10x	as long as short
Phemex HYPEUSDT	+0.0045%	8h	93.834	−0.111%	$12.8M	$2.6M	50x	as long as short
Binance HYPEUSDT	+0.0053%	4h	93.946	+0.009%	$383.6M	$898.1M	75x	as long as short
MEXC HYPE_USDT	+0.0054%	4h	93.899	−0.042%	$88.5M	$82.2M	100x	as long as short
edgeX HYPEUSDC	+0.0061%	4h	93.833	−0.112%	$5.1M	$29.8M	30x	as long as short
Popdex HYPEUSDT	+0.0072%	1h	93.846	−0.098%	$60K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0078%	4h	93.872	−0.070%	$44.1M	$59.9M	75x	as long as short
Bullet HYPE-USD	+0.0090%	1h	93.908	−0.032%	$113K	$578K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0093%	8h	93.956	+0.019%	$116.0M	$322.9M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.937	−0.001%	$18.9M	$60.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.916	−0.023%	$3.0M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.913	−0.027%	$399K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.904	−0.037%	$341K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.780	−0.168%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.875	−0.067%	$5.7M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.986	+0.051%	$2.04B	$681.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.883	−0.059%	$10.1M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.820	−0.126%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.904	−0.036%	$46.5M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.926	−0.013%	$227.5M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.923	−0.016%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERPlong	+0.0100%	1h	93.938	long leg	$7.9M	$10.5M	20x
Variational Omni HYPE	+0.0100%	8h	93.861	−0.082%	$31.2M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.835	−0.110%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.854	−0.089%	$359K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.811	−0.135%	$678K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.897	−0.044%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.896	−0.045%	$471K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.915	−0.024%	$76K	$172K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.911	−0.029%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.883	−0.059%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.502%	$31K	$338K	12x	as long as short
Extended HYPE-USDshort	+0.0104%	1h	93.899	−0.042%	$18.3M	$42.8M	50x
Kalshi KXHYPEPERP	+0.0151%	8h	93.951	+0.014%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.960	+0.023%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0193%	4h	94.050	+0.119%	$1.5M	$7.8M	75x	as long as short
BloFin HYPE-USDT	+0.0217%	4h	93.824	−0.121%	$16.9M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.859	−0.084%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.897	−0.043%	$2.8M	$6.8M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0314%	1h	93.991	+0.056%	$7.5M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0163%	1h	93.934	−0.005%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0577%	1h	93.981	+0.045%	$21.0M	$29.5M	50x	as long as short