HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0180%/8h= −19.7% APRnext payment −$0.23 per $10,000 · paid last 24h −0.059%

Price spread now: Hotstuff against Backpack−0.066%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Hotstuff

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—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Hotstuff is 0.066% cheaper against Backpack than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack HYPE_USDC_PERP	93.400	0.0100	pay 0.0013% / 1h	41m 42s	$7.9M	$11.5M	20x
Short	Hotstuff HYPE-PERP	93.338	−0.0080	pay 0.0010% / 1h	41m 42s	$3K	$331	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$37.8
Price spread: −0.066% → 0.000%: −$6.64
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$59.44
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 2 min ago; Hotstuff: 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Backpack live order book, 2 min ago	0.05 bp	5.1 bp −$5	6.7 bp −$67	99.9 bp −$9,988	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps HYPEUSD	−0.0360%	1h	93.244	−0.167%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.335	−0.070%	$1.2M	$4.0M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0128%	1h	93.251	−0.160%	$197K	$230K	7x	as long as short
Hotstuff HYPE-PERPshort	−0.0080%	1h	93.338	−0.066%	$3K	$331	25x
Ondo Perps HYPE-USD.P	−0.0044%	1h	93.150	−0.268%	$699K	$924K	10x	as long as short
01 Exchange HYPEUSD	−0.0008%	1h	93.431	+0.033%	$90K	$361K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.419	+0.021%	$127K	$32K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	93.398	−0.002%	$57K	$1.2M	50x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.446	+0.049%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.351	−0.053%	$23K	$331K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.434	+0.036%	$20K	—	150x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.406	+0.007%	$8.9M	$36.0M	300x	as long as short
Derive HYPE-PERP	+0.0016%	1h	93.337	−0.068%	$16.3M	$7.1M	10x	as long as short
Bybit HYPEUSDT	+0.0031%	8h	93.379	−0.022%	$324.2M	$286.9M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.278	−0.131%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0037%	4h	93.373	−0.029%	$171K	$519K	20x	as long as short
Gate HYPE_USDT	+0.0062%	4h	93.410	+0.011%	$43.8M	$57.8M	75x	as long as short
Bullet HYPE-USD	+0.0078%	1h	93.370	−0.032%	$112K	$578K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.445	+0.048%	$18.5M	$58.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.416	+0.017%	$3.1M	$12.1M	20x	as long as short
MEXC HYPE_USDT	+0.0096%	4h	93.415	+0.016%	$90.4M	$81.6M	100x	as long as short
Binance HYPEUSDT	+0.0097%	4h	93.387	−0.013%	$383.8M	$892.0M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.383	−0.018%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.380	−0.021%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.397	−0.003%	$5.9M	$44.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.445	+0.048%	$2.03B	$672.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.393	−0.007%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.374	−0.028%	$114.1M	$314.2M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.884	−0.552%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.388	−0.013%	$47.3M	$18.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.416	+0.017%	$226.5M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.402	+0.002%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERPlong	+0.0100%	1h	93.400	long leg	$7.9M	$11.5M	20x
Variational Omni HYPE	+0.0100%	8h	93.236	−0.175%	$28.9M	$50.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.228	−0.184%	$7.5M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.375	−0.027%	$413K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.274	−0.135%	$675K	$2.5M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.420	+0.021%	$494K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.381	−0.020%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.434	+0.036%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.365	−0.037%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.357	−0.046%	$12.7M	$2.6M	50x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.402	+0.002%	—	$454K	5x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.379	−0.023%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.385	−0.016%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0107%	4h	93.311	−0.096%	$5.1M	$29.6M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.420	+0.021%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.250	−0.161%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0246%	1h	93.382	−0.019%	$78K	$158K	15x	as long as short
HTX HYPE-USDT	+0.0271%	4h	93.550	+0.161%	$1.5M	$7.7M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.449	+0.052%	$2.8M	$6.8M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0328%	1h	93.464	+0.069%	$7.4M	$4.6M	50x	as long as short
BloFin HYPE-USDT	+0.0336%	4h	93.332	−0.073%	$16.9M	$12.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0159%	1h	93.414	+0.015%	$1.5M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.503	+0.111%	$20.8M	$28.8M	50x	as long as short