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 22:00 UTC+0.0291%/8h= +31.9% APRpaid last 24h +0.032%
Price spread now: HTX against Backpack+0.243%7-day average +0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs−$32as in the Funding arb table
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$310.308% of the position
Long on BackpackShort on HTX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.010%−$1 on $10k
Price spread, last 3 days (all we have)−0.354%−$35 · spread now +0.243%, 7d avg +0.020%
Together, before fees−0.364%−$36 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and HTX is 0.223% dearer against Backpack than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.020%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.010% in total (about -0.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack HYPE_USDC_PERP93.4230.0100pay 0.0013% / 1h46m 36s$7.9M$11.7M20x
ShortHTX HYPE-USDT93.6500.0391get 0.0196% / 4h2h 46m$1.5M$7.6M75x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

HTX 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
$61.17
Price spread: +0.243% → +0.020%
$22.27
Slippage, 4 orders
−$8.78
Fee Backpack: 5 bp × 2 orders
−$10
Fee HTX: 6 bp × 2 orders
−$12
Net
$52.67
Costs to cover
0.308%
Break-even
1.0 days
Slippage from Backpack: live order book, 3 min ago; HTX: live order book, 2 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, 3 min ago0.05 bp5.8 bp −$67.6 bp −$76129.8 bp −$13.0Kdoesn't fit
Sell HTX live order book, 2 min ago0.05 bp8.8 bp −$912.4 bp −$12457.1 bp −$5,711doesn't fit

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−0.1256%1h93.344−0.084%$197K$233K7xas long as short
Ondo Perps HYPE-USD.P−0.0186%1h93.330−0.100%$701K$943K10xas long as short
Aftermath Perps HYPEUSD−0.0165%1h93.409−0.016%$22K$22K10xas long as short
01 Exchange HYPEUSD−0.0080%1h93.472+0.052%$89K$345K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.410−0.014%$3K$33125xas long as short
Bullet HYPE-USD−0.0001%1h93.419−0.005%$112K$583K20xas long as short
dYdX HYPE-USD0.0000%1h93.504+0.086%$127K$33K5xas long as short
Kalshi KXHYPEPERP0.0000%8h93.506+0.089%$1.9M$5.4M2.3xas long as short
Perpl HYPE0.0000%43m93.443+0.022%$23K$343K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.465+0.045%$19K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0014%4h93.417−0.007%$8.9M$36.2M300xas long as short
Derive HYPE-PERP+0.0017%1h93.381−0.045%$16.4M$7.1M10xas long as short
Gate HYPE_USDT+0.0024%4h93.454+0.033%$44.2M$56.3M75xas long as short
Bybit HYPEUSDT+0.0039%8h93.460+0.040%$325.7M$287.8M75xas long as short
Phoenix HYPE+0.0068%1h93.408−0.016%$216K$1.2M10xas long as short
Orderly PERP_HYPE_USDC+0.0076%4h93.457+0.036%$180K$536K20xas long as short
ApeX Omni HYPEUSDT+0.0092%1h93.318−0.112%$405K$1.1M50xas long as short
Lighter HYPE+0.0096%1h93.476+0.056%$18.5M$59.4M20xas long as short
Lighter RH HYPE+0.0096%1h93.457+0.036%$3.1M$12.3M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.448+0.027%$56K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h93.500+0.082%$40K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.418−0.005%$6.0M$44.3M10xas long as short
Hyperliquid HYPE+0.0100%1h93.475+0.056%$2.04B$669.1M10xas long as short
Pacifica HYPE+0.0100%1h93.456+0.035%$10.0M$14.5M20xas long as short
Binance HYPEUSDT+0.0100%4h93.447+0.026%$386.0M$888.3M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.459+0.039%$114.8M$315.6M50xas long as short
Arcus HYPE-USD+0.0100%1h93.433+0.011%$1.2M$4.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.335−0.094%$204K$12K10xas long as short
MEXC HYPE_USDT+0.0100%4h93.450+0.029%$93.1M$81.9M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.403−0.021%$46.3M$19.4M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.450+0.029%$227.0M$102.0M75xas long as short
BingX HYPE-USDT+0.0100%4h93.452+0.031%—$54.3M—as long as short
Backpack HYPE_USDC_PERPlong+0.0100%1h93.423long leg$7.9M$11.7M20x
Variational Omni HYPE+0.0100%8h93.295−0.137%$28.8M$49.8M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.407−0.017%$7.5M$46.2M10xas long as short
StandX HYPE-USD+0.0100%1h93.504+0.087%$676K$2.4M20xas long as short
Vest HYPE-PERP+0.0100%1h93.486+0.067%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.471+0.051%$494K$2.6M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.424+0.001%$76K$169K20xas long as short
SunX HYPE-USDT+0.0100%4h93.469+0.049%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.409−0.015%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.397−0.028%$12.7M$2.6M50xas long as short
Paradex HYPE-USD-PERP+0.0100%8h93.483+0.064%$339K$171K20xas long as short
Extended HYPE-USD+0.0104%1h93.447+0.025%$18.4M$41.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.462+0.041%$398K$318K20xas long as short
edgeX HYPEUSDC+0.0108%4h93.395−0.030%$5.1M$29.5M30xas long as short
Coinbase International HYPE-PERP-INTX+0.0208%1h93.570+0.157%$4.9M$5.7M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0242%1h93.529+0.113%$7.4M$4.6M50xas long as short
Reya HYPERUSDPERP+0.0245%1h93.426+0.004%$77K$157K15xas long as short
Injective HYPE/USDC PERP+0.0285%1h93.360−0.067%$30K$231K12xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0165%1h93.466+0.046%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.408−0.016%$17.1M$12.5M75xas long as short
HTX HYPE-USDTshort+0.0391%4h93.650+0.243%$1.5M$7.6M75x
RISEx HYPE/USDC+0.0467%1h93.518+0.102%$2.7M$6.8M20xas long as short
Kraken Futures PF_HYPEUSD+0.0573%1h93.501+0.083%$19.2M$25.9M50xas long as short