Settings8H · net · $10k
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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h −0.009%
Price spread now: Popdex against Backpack+0.073%7-day average −0.251% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs+$14as in the Price arb table
costs, in and out, $10k−$190.188% of the position
Long on BackpackShort on Popdex
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.030%−$3 on $10k
Price spread, last 7 days+0.082%+$8 · spread now +0.073%, 7d avg −0.251%
Together, before fees+0.051%+$5 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: Popdex is 0.324% dearer against Backpack than usual: you sell high and buy low, +$32 on $10k if it goes back to its 7-day average of −0.251%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack HYPE_USDC_PERP93.4190.0100pay 0.0013% / 1h43m 31s$7.4M$10.4M20x
ShortPopdex HYPEUSDT93.4870.0096get 0.0012% / 1h43m 31s$68K$1.2M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Popdex 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
−$0.84
Price spread: +0.073% → −0.251%
$32.38
Slippage, 4 orders
−$2.36
Fee Backpack: 5 bp × 2 orders
−$10
Fee Popdex: 3.2 bp × 2 orders
−$6.4
Net
$12.78
Costs to cover
0.188%
Break-even
from the start
Slippage from Backpack: live order book, 1 min ago; Popdex: live order book, 1 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, 1 min ago0.05 bp5.1 bp −$56.9 bp −$69129.1 bp −$12.9Kdoesn't fit
Sell Popdex live order book, 1 min ago1.02 bp4.3 bp −$46.7 bp −$6761.2 bp −$6,124doesn'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−0.1240%1h93.378−0.044%$196K$226K7xas long as short
Arcus HYPE-USD−0.0899%1h93.355−0.069%$1.2M$3.8M10xas long as short
Bluefin HYPE-PERP−0.0176%1h93.441+0.024%$79K$170K20xas long as short
Phemex HYPEUSDT−0.0091%8h93.453+0.036%$12.6M$2.7M50xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.485+0.071%$3K$33125xas long as short
Orderly PERP_HYPE_USDC−0.0046%4h93.479+0.064%$156K$629K20xas long as short
01 Exchange HYPEUSD−0.0040%1h93.500+0.087%$85K$346K20xas long as short
Aftermath Perps HYPEUSD−0.0036%1h93.380−0.042%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0009%1h93.360−0.063%$698K$978K10xas long as short
dYdX HYPE-USD0.0000%1h93.446+0.029%$128K$31K5xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl HYPE0.0000%43m93.526+0.115%$23K$322K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.480+0.065%$62K—150xas long as short
BingX HYPE-USDT+0.0008%4h93.467+0.051%—$53.0M—as long as short
Aster HYPEUSDT+0.0021%4h93.509+0.096%$8.8M$35.6M300xas long as short
Phoenix HYPE+0.0026%1h93.549+0.139%$213K$1.2M10xas long as short
Bybit HYPEUSDT+0.0032%8h93.510+0.097%$322.8M$276.8M75xas long as short
Gate HYPE_USDT+0.0052%4h93.466+0.050%$44.6M$54.6M75xas long as short
Bullet HYPE-USD+0.0065%1h93.471+0.056%$111K$577K20xas long as short
OKX HYPE-USDT-SWAP+0.0078%8h93.497+0.083%$114.4M$302.5M50xas long as short
Lighter HYPE+0.0096%1h93.490+0.076%$16.3M$61.5M20xas long as short
Lighter RH HYPE+0.0096%1h93.462+0.046%$3.1M$11.5M20xas long as short
Popdex HYPEUSDTshort+0.0096%1h93.487+0.073%$68K$1.2M50x
MEXC HYPE_USDT+0.0096%4h93.456+0.040%$87.7M$80.2M100xas long as short
Paradex HYPE-USD-PERP+0.0097%8h93.514+0.102%$340K$162K20xas long as short
Binance HYPEUSDT+0.0097%4h93.511+0.098%$379.7M$877.0M75xas long as short
edgeX HYPEUSDC+0.0099%4h93.527+0.115%$5.1M$30.0M30xas long as short
Katana Perps HYPE-USD+0.0100%8h93.470+0.055%$19K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.475+0.059%$5.8M$43.4M10xas long as short
Hyperliquid HYPE+0.0100%1h93.554+0.145%$2.04B$655.3M10xas long as short
Pacifica HYPE+0.0100%1h93.473+0.058%$10.1M$14.6M20xas long as short
Bulk HYPE-USD+0.0100%1h93.580+0.172%$204K$10K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.490+0.076%$46.0M$18.1M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.515+0.103%$226.2M$96.7M75xas long as short
Backpack HYPE_USDC_PERPlong+0.0100%1h93.419long leg$7.4M$10.4M20x
Variational Omni HYPE+0.0100%8h93.339−0.086%$31.1M$54.0M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.288−0.141%$7.5M$45.6M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.588+0.181%$340K$999K50xas long as short
StandX HYPE-USD+0.0100%1h93.524+0.112%$667K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.547+0.137%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.533+0.122%$472K$2.5M20xas long as short
Derive HYPE-PERP+0.0100%1h93.458+0.042%$16.2M$7.6M10xas long as short
SunX HYPE-USDT+0.0100%4h93.563+0.154%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.465+0.049%$2.0M$1.9M10xas long as short
Extended HYPE-USD+0.0104%1h93.450+0.033%$18.4M$43.7M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.475+0.060%$398K$163K20xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.600+0.194%$4.9M$5.4M50xas long as short
HTX HYPE-USDT+0.0203%4h93.600+0.194%$1.4M$6.0M75xas long as short
Reya HYPERUSDPERP+0.0257%1h93.505+0.092%$80K$140K15xas long as short
Kalshi KXHYPEPERP+0.0280%8h93.554+0.145%$1.9M$5.1M2.3xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0306%1h93.542+0.132%$7.5M$4.4M50xas long as short
BloFin HYPE-USDT+0.0330%4h93.572+0.164%$17.0M$11.7M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0156%1h93.497+0.083%$1.4M—100xas long as short
RISEx HYPE/USDC+0.0510%1h93.580+0.172%$3.2M$6.5M20xas long as short
Injective HYPE/USDC PERP+0.0519%1h93.430+0.012%$30K$339K12xas long as short
Kraken Futures PF_HYPEUSD+0.0684%1h93.500+0.087%$20.8M$30.1M50xas long as short