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

HYPE

all HYPE markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.011%
Price spread now: Backpack against KuCoin+0.032%7-day average +0.234% · you sell dearer than you buy
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$52as in the Price arb table
costs, in and out, $10k−$320.320% of the position
Long on KuCoinShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days+0.061%+$6 on $10k
Price spread, last 7 days−0.493%−$49 · spread now +0.032%, 7d avg +0.234%
Together, before fees−0.432%−$43 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 0.202% cheaper against KuCoin than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.234%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKuCoin HYPEUSDTM93.4060.0100pay 0.0050% / 4h2h 36m$46.4M$18.9M75x
ShortBackpack HYPE_USDC_PERP93.4360.0100get 0.0013% / 1h36m 02s$7.9M$11.7M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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
Price spread: +0.032% → +0.234%
−$20.22
Slippage, 4 orders
−$10
Fee KuCoin: 6 bp × 2 orders
−$12
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$52.22
Costs to cover
0.320%
Break-even
never at this rate
Slippage from KuCoin: live order book, 3 min ago; Backpack: live order book, 3 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 KuCoin live order book, 3 min ago0.75 bp8.2 bp −$816.5 bp −$165doesn't fitdoesn't fit
Sell Backpack live order book, 3 min ago0.05 bp5.1 bp −$56.5 bp −$65178.6 bp −$17.9Kdoesn'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−0.1120%1h93.436+0.032%$197K$233K7xas long as short
Aftermath Perps HYPEUSD−0.0256%1h93.396−0.011%$22K$22K10xas long as short
Ondo Perps HYPE-USD.P−0.0254%1h93.350−0.060%$701K$940K10xas long as short
01 Exchange HYPEUSD−0.0088%1h93.435+0.031%$89K$348K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.300−0.113%$3K$33125xas long as short
Bullet HYPE-USD−0.0016%1h93.392−0.015%$112K$583K20xas long as short
Derive HYPE-PERP−0.0003%1h93.345−0.065%$16.4M$7.1M10xas long as short
dYdX HYPE-USD0.0000%1h93.485+0.084%$127K$32K5xas long as short
Perpl HYPE0.0000%43m93.417+0.011%$23K$337K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.424+0.019%$20K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0015%4h93.424+0.019%$8.9M$35.9M300xas long as short
Gate HYPE_USDT+0.0018%4h93.4060.000%$44.1M$56.5M75xas long as short
Bybit HYPEUSDT+0.0035%8h93.400−0.006%$325.4M$287.4M75xas long as short
Phoenix HYPE+0.0068%1h93.527+0.130%$216K$1.2M10xas long as short
Orderly PERP_HYPE_USDC+0.0070%4h93.408+0.002%$180K$529K20xas long as short
Popdex HYPEUSDT+0.0080%1h93.399−0.007%$56K$1.2M50xas long as short
Lighter HYPE+0.0096%1h93.458+0.055%$18.5M$59.5M20xas long as short
Lighter RH HYPE+0.0096%1h93.417+0.012%$3.1M$12.3M20xas long as short
Paradex HYPE-USD-PERP+0.0100%8h93.439+0.035%$339K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.400−0.006%$40K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.405−0.001%$6.0M$44.2M10xas long as short
Hyperliquid HYPE+0.0100%1h93.476+0.075%$2.03B$667.9M10xas long as short
Pacifica HYPE+0.0100%1h93.427+0.022%$10.0M$14.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.411+0.005%$385.2M$888.7M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.411+0.005%$114.7M$315.2M50xas long as short
Arcus HYPE-USD+0.0100%1h93.395−0.012%$1.2M$4.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.403−0.004%$204K$12K10xas long as short
MEXC HYPE_USDT+0.0100%4h93.399−0.007%$92.8M$82.0M100xas long as short
KuCoin HYPEUSDTMlong+0.0100%4h93.406long leg$46.4M$18.9M75x
Bitget HYPEUSDT+0.0100%4h93.417+0.012%$226.9M$102.2M75xas long as short
BingX HYPE-USDT+0.0100%4h93.398−0.009%—$54.2M—as long as short
Backpack HYPE_USDC_PERPshort+0.0100%1h93.436+0.032%$7.9M$11.7M20x
Variational Omni HYPE+0.0100%8h93.375−0.033%$28.9M$49.9M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.408+0.003%$7.5M$44.9M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.381−0.027%$405K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.490+0.090%$676K$2.4M20xas long as short
Vest HYPE-PERP+0.0100%1h93.453+0.050%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.436+0.032%$493K$2.6M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.398−0.009%$76K$168K20xas long as short
SunX HYPE-USDT+0.0100%4h93.443+0.040%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.389−0.018%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.407+0.001%$12.7M$2.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.370−0.038%$18.4M$41.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.373−0.036%$397K$318K20xas long as short
edgeX HYPEUSDC+0.0113%4h93.336−0.074%$5.1M$29.5M30xas long as short
Kalshi KXHYPEPERP+0.0116%8h93.483+0.082%$1.9M$5.3M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0208%1h93.400−0.006%$4.9M$5.7M50xas long as short
Reya HYPERUSDPERP+0.0245%1h93.397−0.010%$78K$158K15xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0253%1h93.491+0.091%$7.4M$4.6M50xas long as short
Injective HYPE/USDC PERP+0.0285%1h93.330−0.081%$30K$231K12xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0338% / S −0.0164%1h93.444+0.041%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.449+0.046%$17.1M$12.5M75xas long as short
HTX HYPE-USDT+0.0340%4h93.662+0.274%$1.5M$7.6M75xas long as short
RISEx HYPE/USDC+0.0467%1h93.477+0.075%$2.8M$6.8M20xas long as short
Kraken Futures PF_HYPEUSD+0.0573%1h93.492+0.092%$19.2M$25.9M50xas long as short