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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 00:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.003%
Price spread now: Backpack against Extended+0.042%7-day average +0.274% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$41as in the Price arb table
costs, in and out, $10k−$180.178% of the position
Long on ExtendedShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days+0.030%+$3 on $10k
Price spread, last 7 days−0.777%−$78 · spread now +0.042%, 7d avg +0.274%
Together, before fees−0.747%+ Points / potential airdropExtended: Active · farm board−$75 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: Backpack is 0.232% cheaper against Extended than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of +0.274%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended HYPE-USD93.8990.0104pay 0.0013% / 1h12m 01s$18.3M$42.8M50x
ShortBackpack HYPE_USDC_PERP93.9380.0100get 0.0013% / 1h12m 01s$7.9M$10.5M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Extended. 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: +0.042% → +0.274%
−$23.18
Slippage, 4 orders
−$2.79
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$41.81
Costs to cover
0.178%
Break-even
never at this rate
Slippage from Extended: live order book, 2 min ago; Backpack: 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 Extended live order book, 2 min ago0.05 bp5.1 bp −$58.3 bp −$8329.3 bp −$2,935doesn't fit
Sell Backpack live order book, 2 min ago0.05 bp5.1 bp −$57.0 bp −$7055.4 bp −$5,538doesn'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−0.1176%1h93.700−0.211%$198K$230K7xas long as short
Aftermath Perps HYPEUSD−0.0401%1h93.836−0.067%$22K$22K10xas long as short
Arcus HYPE-USD−0.0233%1h93.756−0.152%$1.2M$3.8M10xas long as short
Ondo Perps HYPE-USD.P−0.0094%1h93.800−0.105%$705K$916K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.822−0.082%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0072%1h93.843−0.059%$86K$368K20xas long as short
Orderly PERP_HYPE_USDC−0.0002%4h93.908+0.010%$169K$588K20xas long as short
dYdX HYPE-USD0.0000%1h93.845−0.058%$128K$30K5xas long as short
Perpl HYPE0.0000%43m93.866−0.035%$23K$329K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.931+0.034%$27K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix HYPE+0.0009%1h93.963+0.069%$216K$1.2M10xas long as short
Aster HYPEUSDT+0.0015%4h93.911+0.013%$8.9M$36.1M300xas long as short
Bybit HYPEUSDT+0.0021%8h93.951+0.056%$323.2M$283.9M75xas long as short
Derive HYPE-PERP+0.0027%1h93.859−0.043%$16.4M$7.1M10xas long as short
Phemex HYPEUSDT+0.0045%8h93.834−0.069%$12.8M$2.6M50xas long as short
Binance HYPEUSDT+0.0053%4h93.946+0.051%$383.6M$898.1M75xas long as short
MEXC HYPE_USDT+0.0054%4h93.8990.000%$88.5M$82.2M100xas long as short
edgeX HYPEUSDC+0.0061%4h93.833−0.070%$5.1M$29.8M30xas long as short
Popdex HYPEUSDT+0.0072%1h93.846−0.056%$60K$1.2M50xas long as short
Gate HYPE_USDT+0.0078%4h93.872−0.028%$44.1M$59.9M75xas long as short
Bullet HYPE-USD+0.0090%1h93.908+0.010%$113K$578K20xas long as short
OKX HYPE-USDT-SWAP+0.0093%8h93.956+0.061%$116.0M$322.9M50xas long as short
Lighter HYPE+0.0096%1h93.937+0.041%$18.9M$60.3M20xas long as short
Lighter RH HYPE+0.0096%1h93.916+0.018%$3.0M$12.3M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.913+0.015%$399K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.904+0.005%$341K$171K20xas long as short
Katana Perps HYPE-USD+0.0099%8h93.780−0.126%$37K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.875−0.025%$5.7M$44.4M10xas long as short
Hyperliquid HYPE+0.0100%1h93.986+0.093%$2.04B$681.0M10xas long as short
Pacifica HYPE+0.0100%1h93.883−0.017%$10.1M$14.6M20xas long as short
Bulk HYPE-USD+0.0100%1h93.820−0.084%$205K$7K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.904+0.006%$46.5M$18.6M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.926+0.029%$227.5M$102.2M75xas long as short
BingX HYPE-USDT+0.0100%4h93.923+0.026%—$54.1M—as long as short
Backpack HYPE_USDC_PERPshort+0.0100%1h93.938+0.042%$7.9M$10.5M20x
Variational Omni HYPE+0.0100%8h93.861−0.040%$31.2M$54.1M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.835−0.068%$7.6M$45.6M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.854−0.048%$359K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h93.811−0.093%$678K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.897−0.002%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.896−0.003%$471K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.915+0.017%$76K$172K20xas long as short
SunX HYPE-USDT+0.0100%4h93.911+0.013%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.883−0.017%$2.0M$2.0M10xas long as short
Injective HYPE/USDC PERP+0.0104%1h94.410+0.545%$31K$338K12xas long as short
Extended HYPE-USDlong+0.0104%1h93.899long leg$18.3M$42.8M50x
Kalshi KXHYPEPERP+0.0151%8h93.951+0.056%$1.9M$5.0M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h93.960+0.065%$4.9M$5.7M50xas long as short
HTX HYPE-USDT+0.0193%4h94.050+0.161%$1.5M$7.8M75xas long as short
BloFin HYPE-USDT+0.0217%4h93.824−0.080%$16.9M$12.6M75xas long as short
Reya HYPERUSDPERP+0.0249%1h93.859−0.043%$77K$142K15xas long as short
RISEx HYPE/USDC+0.0284%1h93.897−0.001%$2.8M$6.8M20xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0314%1h93.991+0.098%$7.5M$4.6M50xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0338% / S −0.0163%1h93.934+0.037%$1.4M—100xas long as short
Kraken Futures PF_HYPEUSD+0.0577%1h93.981+0.087%$21.0M$29.5M50xas long as short