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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 01:00 UTC−0.0097%/8h= −10.7% APRnext payment −$0.12 per $10,000 · paid last 24h −0.034%
Price spread now: gTrade (Gains Network) against Backpack+0.172%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BackpackShort on gTrade (Gains Network)
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—needs both histories
The price spread pays, funding is against you. gTrade (Gains Network) is 0.172% dearer against Backpack than usual: you sell high and buy low (spread +0.172% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.9 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack HYPE_USDC_PERP93.5220.0100pay 0.0013% / 1h18m 53s$7.7M$10.3M20x
ShortgTrade (Gains Network) HYPE/USD93.683L +0.0002% / S −0.0003%get 0.0000% / 1h18m 53s$27K—150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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
−$20.43
Price spread: +0.172% → 0.000%
$17.25
Slippage, 4 orders
no order book: not counted
Fee Backpack: 5 bp × 2 orders
−$10
Fee gTrade (Gains Network): 5 bp × 2 orders
−$10
Net
−$23.18
Costs to cover
0.200%
Break-even
never at this rate
Slippage unknown: Backpack: live order book, 5 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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, 5 min ago0.05 bp5.1 bp −$56.6 bp −$6676.5 bp −$7,649doesn't fit
Sell gTrade (Gains Network) no order-book sample—————
gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HYPE on 55 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−0.1312%1h93.756+0.250%$198K$228K7xas long as short
Arcus HYPE-USD−0.0625%1h93.675+0.164%$1.2M$3.8M10xas long as short
Aftermath Perps HYPEUSD−0.0194%1h94.033+0.547%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0153%1h93.910+0.415%$710K$959K10xas long as short
dYdX HYPE-USD−0.0111%1h93.863+0.365%$129K$31K5xas long as short
Bullet HYPE-USD−0.0100%1h93.644+0.130%$112K$581K20xas long as short
01 Exchange HYPEUSD−0.0088%1h93.769+0.264%$86K$360K20xas long as short
Gate HYPE_USDT−0.0082%4h93.499−0.025%$44.3M$60.0M75xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.782+0.278%$3K$33125xas long as short
Bybit HYPEUSDT−0.0029%8h93.500−0.024%$321.1M$280.4M75xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Orderly PERP_HYPE_USDC−0.0025%4h93.609+0.093%$159K$645K20xas long as short
Phemex HYPEUSDT−0.0017%8h93.548+0.028%$12.7M$2.6M50xas long as short
Perpl HYPE0.0000%43m93.769+0.264%$23K$326K10xas long as short
gTrade (Gains Network) HYPE/USDshortL +0.0002% / S −0.0003%1h93.683+0.172%$27K—150x
Aster HYPEUSDT+0.0007%4h93.519−0.003%$8.9M$36.1M300xas long as short
Derive HYPE-PERP+0.0011%1h93.575+0.056%$16.4M$7.3M10xas long as short
Phoenix HYPE+0.0034%1h94.149+0.670%$219K$1.2M10xas long as short
Binance HYPEUSDT+0.0045%4h93.496−0.028%$381.4M$894.3M75xas long as short
MEXC HYPE_USDT+0.0048%4h93.500−0.024%$87.6M$83.1M100xas long as short
edgeX HYPEUSDC+0.0057%4h93.961+0.469%$5.1M$30.0M30xas long as short
OKX HYPE-USDT-SWAP+0.0074%8h93.510−0.013%$115.5M$316.2M50xas long as short
Bluefin HYPE-PERP+0.0085%1h93.617+0.102%$76K$170K20xas long as short
Lighter HYPE+0.0096%1h93.611+0.095%$19.1M$60.0M20xas long as short
Lighter RH HYPE+0.0096%1h93.607+0.091%$3.0M$12.2M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.793+0.290%$64K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.584+0.066%$398K$180K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.794+0.291%$341K$165K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.800+0.297%$20K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.757+0.251%$6.6M$44.8M10xas long as short
Hyperliquid HYPE+0.0100%1h93.590+0.073%$2.04B$675.1M10xas long as short
Pacifica HYPE+0.0100%1h93.786+0.282%$10.2M$14.6M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.562+0.043%$46.5M$18.3M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.518−0.004%$226.7M$101.0M75xas long as short
BingX HYPE-USDT+0.0100%4h93.506−0.017%—$54.0M—as long as short
Backpack HYPE_USDC_PERPlong+0.0100%1h93.522long leg$7.7M$10.3M20x
Variational Omni HYPE+0.0100%8h93.939+0.446%$31.4M$54.1M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.991+0.502%$7.6M$46.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.940+0.447%$340K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h93.838+0.338%$679K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.847+0.347%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.793+0.290%$480K$2.5M20xas long as short
SunX HYPE-USDT+0.0100%4h93.687+0.176%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.561+0.042%$2.0M$2.0M10xas long as short
Bulk HYPE-USD+0.0100%1h94.151+0.672%$205K$2K10xas long as short
Extended HYPE-USD+0.0104%1h93.488−0.036%$18.7M$44.5M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0144%1h93.660+0.148%$4.9M$5.5M50xas long as short
BloFin HYPE-USDT+0.0179%4h93.552+0.032%$17.0M$12.1M75xas long as short
Injective HYPE/USDC PERP+0.0205%1h94.490+1.035%$31K$338K12xas long as short
RISEx HYPE/USDC+0.0222%1h93.822+0.321%$2.7M$6.8M20xas long as short
Kalshi KXHYPEPERP+0.0227%8h93.641+0.127%$1.9M$5.1M2.3xas long as short
Reya HYPERUSDPERP+0.0252%1h93.754+0.248%$79K$142K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0333% / S −0.0155%1h93.676+0.165%$1.4M—100xas long as short
HTX HYPE-USDT+0.0374%4h93.750+0.244%$1.5M$6.1M75xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0401%1h93.711+0.202%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSD+0.0674%1h93.648+0.135%$20.9M$29.8M50xas long as short