Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.005%
Price spread now: Backpack against Lighter RH+0.063%7-day average +0.248% · you sell dearer than you buy
Net, funding: paid 7d − costs−$4as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$150.153% of the position
Funding, last 7 days+0.115%+$12 on $10k
+Price spread, last 7 days−0.524%−$52 · spread now +0.063%, 7d avg +0.248%
=Together, before fees−0.408%+ Points / potential airdropLighter RH: Points live · farm board−$41 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 0.185% cheaper against Lighter RH than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.248%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH HYPE | 93.464 | 0.0096 | pay 0.0012% / 1h | 47m 20s | $3.1M | $12.3M | 20x |
| Short | Backpack HYPE_USDC_PERP | 93.523 | 0.0100 | get 0.0013% / 1h | 47m 20s | $7.9M | $11.7M | 20x |
Lighter RH HYPE
Backpack HYPE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter RH. 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: +0.063% → +0.248%
- −$18.49
- Slippage, 4 orders
- −$5.33
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$32.98
- Costs to cover
- 0.153%
- Break-even
- 281.8 days
Slippage from Lighter RH: live order book, 1 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| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Lighter RH live order book, 1 min ago | 0.69 bp | 3.4 bp −$3 | 5.7 bp −$57 | 30.1 bp −$3,011 | doesn't fit |
| Sell Backpack live order book, 2 min ago | 0.05 bp | 5.1 bp −$5 | 6.4 bp −$64 | 346.8 bp −$34.7K | 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 | −0.1256% | 1h | 93.344 | −0.128% | $197K | $233K | 7x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0168% | 1h | 93.330 | −0.143% | $700K | $944K | 10x | as long as short |
| Aftermath Perps HYPEUSD | −0.0165% | 1h | 93.409 | −0.059% | $22K | $22K | 10x | as long as short |
| 01 Exchange HYPEUSD | −0.0080% | 1h | 93.449 | −0.016% | $89K | $344K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.472 | +0.009% | $3K | $331 | 25x | as long as short |
| Bullet HYPE-USD | −0.0001% | 1h | 93.419 | −0.049% | $112K | $583K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.504 | +0.042% | $127K | $33K | 5x | as long as short |
| Kalshi KXHYPEPERP | 0.0000% | 8h | 93.559 | +0.102% | $1.9M | $5.4M | 2.3x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.443 | −0.022% | $23K | $343K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0001% | 1h | 93.465 | +0.001% | $19K | — | 150x | as long as short |
Hibachi HYPE/USDT-P
Ondo Perps HYPE-USD.P
Aftermath Perps HYPEUSD
01 Exchange HYPEUSD
Hotstuff HYPE-PERP
Bullet HYPE-USD
dYdX HYPE-USD
Kalshi KXHYPEPERP
Perpl HYPE
gTrade (Gains Network) HYPE/USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster HYPEUSDT | +0.0014% | 4h | 93.458 | −0.006% | $8.9M | $36.2M | 300x | as long as short |
| Derive HYPE-PERP | +0.0017% | 1h | 93.381 | −0.089% | $16.4M | $7.1M | 10x | as long as short |
| Gate HYPE_USDT | +0.0028% | 4h | 93.432 | −0.034% | $44.2M | $56.3M | 75x | as long as short |
| Bybit HYPEUSDT | +0.0041% | 8h | 93.420 | −0.047% | $325.7M | $287.7M | 75x | as long as short |
| Phoenix HYPE | +0.0068% | 1h | 93.408 | −0.060% | $216K | $1.2M | 10x | as long as short |
| Orderly PERP_HYPE_USDC | +0.0076% | 4h | 93.457 | −0.007% | $180K | $536K | 20x | as long as short |
| ApeX Omni HYPEUSDT | +0.0092% | 1h | 93.318 | −0.156% | $405K | $1.1M | 50x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.451 | −0.014% | $18.5M | $59.4M | 20x | as long as short |
| Lighter RH HYPElong | +0.0096% | 1h | 93.464 | long leg | $3.1M | $12.3M | 20x | |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.430 | −0.036% | $56K | $1.2M | 50x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.480 | +0.017% | $40K | $1.7M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.418 | −0.049% | $6.0M | $44.3M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.491 | +0.029% | $2.04B | $669.1M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.462 | −0.002% | $10.0M | $14.5M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.422 | −0.045% | $385.8M | $889.3M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.416 | −0.051% | $114.8M | $315.5M | 50x | as long as short |
| Arcus HYPE-USD | +0.0100% | 1h | 93.421 | −0.046% | $1.2M | $4.0M | 10x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.335 | −0.138% | $204K | $12K | 10x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.422 | −0.045% | $93.1M | $81.9M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.433 | −0.033% | $46.3M | $19.4M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.429 | −0.037% | $226.9M | $102.0M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.429 | −0.037% | — | $54.3M | — | as long as short |
| Backpack HYPE_USDC_PERPshort | +0.0100% | 1h | 93.523 | +0.063% | $7.9M | $11.7M | 20x | |
| Variational Omni HYPE | +0.0100% | 8h | 93.295 | −0.180% | $28.8M | $49.8M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.407 | −0.061% | $7.5M | $46.2M | 10x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.504 | +0.043% | $676K | $2.4M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.486 | +0.023% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.471 | +0.007% | $494K | $2.6M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.424 | −0.043% | $76K | $169K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.469 | +0.005% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.409 | −0.059% | $2.0M | $2.0M | 10x | as long as short |
| Phemex HYPEUSDT | +0.0100% | 8h | 93.397 | −0.072% | $12.7M | $2.6M | 50x | as long as short |
| Paradex HYPE-USD-PERP | +0.0100% | 8h | 93.473 | +0.010% | $339K | $171K | 20x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.411 | −0.057% | $18.4M | $41.1M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.462 | −0.003% | $398K | $318K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0108% | 4h | 93.395 | −0.074% | $5.1M | $29.5M | 30x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0208% | 1h | 93.570 | +0.113% | $4.9M | $5.7M | 50x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0242% | 1h | 93.529 | +0.070% | $7.4M | $4.6M | 50x | as long as short |
| Reya HYPERUSDPERP | +0.0245% | 1h | 93.426 | −0.040% | $77K | $157K | 15x | as long as short |
| Injective HYPE/USDC PERP | +0.0285% | 1h | 93.360 | −0.111% | $30K | $231K | 12x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0339% / S −0.0165% | 1h | 93.466 | +0.002% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.408 | −0.060% | $17.1M | $12.5M | 75x | as long as short |
| HTX HYPE-USDT | +0.0391% | 4h | 93.650 | +0.199% | $1.5M | $7.6M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0467% | 1h | 93.512 | +0.051% | $2.7M | $6.8M | 20x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0573% | 1h | 93.501 | +0.039% | $19.2M | $25.9M | 50x | as long as short |
Aster HYPEUSDT
Derive HYPE-PERP
Gate HYPE_USDT
Bybit HYPEUSDT
Phoenix HYPE
Orderly PERP_HYPE_USDC
ApeX Omni HYPEUSDT
Lighter HYPE
Popdex HYPEUSDT
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Arcus HYPE-USD
Bulk HYPE-USD
MEXC HYPE_USDT
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Variational Omni HYPE
GRVT HYPE_USDT_Perp
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Phemex HYPEUSDT
Paradex HYPE-USD-PERP
Extended HYPE-USD
Aevo HYPE-PERP
edgeX HYPEUSDC
Coinbase International HYPE-PERP-INTX
Deribit HYPE_USDC-PERPETUAL
Reya HYPERUSDPERP
Injective HYPE/USDC PERP
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
HTX HYPE-USDT
RISEx HYPE/USDC
Kraken Futures PF_HYPEUSD