Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.005%
Price spread now: Lighter RH against Backpack−0.091%7-day average −0.261% · you buy dearer than you sell
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs+$3as in the Price arb table
costs, in and out, $10k−$140.145% of the position
Funding, last 7 days−0.114%−$11 on $10k
+Price spread, last 7 days+0.271%+$27 · spread now −0.091%, 7d avg −0.261%
=Together, before fees+0.157%+ Points / potential airdropLighter RH: Points live · farm board+$16 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: Lighter RH is 0.170% dearer against Backpack than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of −0.261%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack HYPE_USDC_PERP | 93.260 | 0.0100 | pay 0.0013% / 1h | 15m 19s | $7.4M | $10.3M | 20x |
| Short | Lighter RH HYPE | 93.175 | 0.0096 | get 0.0012% / 1h | 15m 19s | $3.1M | $11.7M | 20x |
Backpack HYPE_USDC_PERP
Lighter RH HYPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- −$0.84
- Price spread: −0.091% → −0.261%
- $17
- Slippage, 4 orders
- −$4.49
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- $1.67
- Costs to cover
- 0.145%
- Break-even
- from the start
Slippage from Backpack: live order book, 4 min ago; Lighter RH: live order book, 3 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 | 91.0 bp −$9,102 | doesn't fit |
| Sell Lighter RH live order book, 3 min ago | 0.59 bp | 1.6 bp −$2 | 2.8 bp −$28 | 23.4 bp −$2,336 | 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 | −0.1056% | 1h | 93.409 | +0.159% | $197K | $227K | 7x | as long as short |
| Arcus HYPE-USD | −0.0899% | 1h | 93.000 | −0.279% | $1.2M | $3.8M | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0137% | 1h | 93.110 | −0.161% | $699K | $1.0M | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.314 | +0.058% | $3K | $331 | 25x | as long as short |
| 01 Exchange HYPEUSD | −0.0056% | 1h | 93.106 | −0.165% | $85K | $344K | 20x | as long as short |
| Aftermath Perps HYPEUSD | −0.0055% | 1h | 93.352 | +0.099% | $22K | $21K | 10x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0048% | 4h | 93.095 | −0.177% | $153K | $652K | 20x | as long as short |
| Phemex HYPEUSDT | −0.0028% | 8h | 93.397 | +0.147% | $12.6M | $2.7M | 50x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.163 | −0.104% | $128K | $31K | 5x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.119 | −0.151% | $23K | $319K | 10x | as long as short |
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Ondo Perps HYPE-USD.P
Hotstuff HYPE-PERP
01 Exchange HYPEUSD
Aftermath Perps HYPEUSD
Orderly PERP_HYPE_USDC
Phemex HYPEUSDT
dYdX HYPE-USD
Perpl HYPEShow 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 −0.0002% | 1h | 93.107 | −0.164% | $62K | — | 150x | as long as short |
| Bullet HYPE-USD | +0.0020% | 1h | 93.090 | −0.183% | $111K | $578K | 20x | as long as short |
| Phoenix HYPE | +0.0026% | 1h | 93.367 | +0.115% | $213K | $1.2M | 10x | as long as short |
| Aster HYPEUSDT | +0.0026% | 4h | 93.162 | −0.105% | $8.8M | $35.8M | 300x | as long as short |
| BingX HYPE-USDT | +0.0034% | 4h | 93.079 | −0.194% | — | $53.0M | — | as long as short |
| Gate HYPE_USDT | +0.0044% | 4h | 93.093 | −0.179% | $44.5M | $55.4M | 75x | as long as short |
| Bybit HYPEUSDT | +0.0045% | 8h | 93.082 | −0.191% | $320.2M | $277.9M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0075% | 8h | 93.091 | −0.181% | $113.6M | $300.3M | 50x | as long as short |
| Derive HYPE-PERP | +0.0082% | 1h | 93.070 | −0.204% | $16.1M | $7.5M | 10x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.163 | −0.104% | $16.2M | $62.0M | 20x | as long as short |
| Lighter RH HYPEshort | +0.0096% | 1h | 93.175 | −0.091% | $3.1M | $11.7M | 20x | |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.082 | −0.191% | $70K | $1.2M | 50x | as long as short |
| Paradex HYPE-USD-PERP | +0.0097% | 8h | 93.241 | −0.021% | $339K | $162K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.120 | −0.150% | $22K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.088 | −0.184% | $5.7M | $43.1M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.160 | −0.107% | $2.03B | $657.0M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.154 | −0.114% | $10.0M | $14.8M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.102 | −0.169% | $377.8M | $880.8M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.092 | −0.180% | $89.0M | $81.1M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.095 | −0.177% | $45.8M | $18.2M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.108 | −0.163% | $225.3M | $96.6M | 75x | as long as short |
| Backpack HYPE_USDC_PERPlong | +0.0100% | 1h | 93.260 | long leg | $7.4M | $10.3M | 20x | |
| Variational Omni HYPE | +0.0100% | 8h | 93.377 | +0.125% | $31.1M | $53.8M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.364 | +0.111% | $7.5M | $45.8M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.292 | +0.034% | $339K | $998K | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.417 | +0.168% | $667K | $2.7M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.197 | −0.067% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.125 | −0.145% | $481K | $2.6M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.085 | −0.188% | $79K | $168K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.154 | −0.114% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.110 | −0.161% | $2.0M | $1.9M | 10x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.217 | −0.046% | $203K | $10K | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.071 | −0.203% | $18.3M | $43.7M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.090 | −0.183% | $396K | $162K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0117% | 4h | 93.295 | +0.038% | $5.0M | $29.1M | 30x | as long as short |
| HTX HYPE-USDT | +0.0152% | 4h | 93.518 | +0.277% | $1.4M | $6.0M | 75x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0176% | 1h | 93.160 | −0.107% | $4.8M | $5.6M | 50x | as long as short |
| Reya HYPERUSDPERP | +0.0259% | 1h | 93.072 | −0.201% | $79K | $140K | 15x | as long as short |
| Kalshi KXHYPEPERP | +0.0272% | 8h | 93.358 | +0.105% | $1.9M | $5.2M | 2.3x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0330% / S −0.0156% | 1h | 93.101 | −0.171% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.320 | +0.064% | $17.0M | $11.5M | 75x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0341% | 1h | 93.191 | −0.074% | $7.4M | $4.4M | 50x | as long as short |
| RISEx HYPE/USDC | +0.0510% | 1h | 93.188 | −0.077% | $3.2M | $6.3M | 20x | as long as short |
| Injective HYPE/USDC PERP | +0.0519% | 1h | 93.730 | +0.504% | $30K | $339K | 12x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0687% | 1h | 93.206 | −0.058% | $20.7M | $29.8M | 50x | as long as short |
gTrade (Gains Network) HYPE/USD
Bullet HYPE-USD
Phoenix HYPE
Aster HYPEUSDT
BingX HYPE-USDT
Gate HYPE_USDT
Bybit HYPEUSDT
OKX HYPE-USDT-SWAP
Derive HYPE-PERP
Lighter HYPE
Popdex HYPEUSDT
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Binance HYPEUSDT
MEXC HYPE_USDT
KuCoin HYPEUSDTM
Bitget HYPEUSDT
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
Bulk HYPE-USD
Extended HYPE-USD
Aevo HYPE-PERP
edgeX HYPEUSDC
HTX HYPE-USDT
Coinbase International HYPE-PERP-INTX
Reya HYPERUSDPERP
Kalshi KXHYPEPERP
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
Deribit HYPE_USDC-PERPETUAL
RISEx HYPE/USDC
Injective HYPE/USDC PERP
Kraken Futures PF_HYPEUSD