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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 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.021%
Price spread now: Backpack against Nado+0.068%7-day average +0.232% · 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−$34as in the Price arb table
costs, in and out, $10k−$180.175% of the position
Long on NadoShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.039%+$4 on $10k
Price spread, last 7 days−0.824%−$82 · spread now +0.068%, 7d avg +0.232%
Together, before fees−0.784%+ Points / potential airdropNado: Active · farm board−$78 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 0.164% cheaper against Nado than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.232%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongNado HYPE-PERP93.8630.0100pay 0.0012% / 1h10m 08s$5.7M$44.4M10x
ShortBackpack HYPE_USDC_PERP93.9270.0100get 0.0013% / 1h10m 08s$7.9M$10.4M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Nado. 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: +0.068% → +0.232%
−$16.39
Slippage, 4 orders
−$0.54
Fee Nado: 3.5 bp × 2 orders
−$7
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$33.93
Costs to cover
0.175%
Break-even
3485772124986178.5 days
Slippage from Nado: live order book, 4 min ago; Backpack: live order book, 4 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 Nado live order book, 4 min ago0.05 bp3.6 bp −$45.3 bp −$5322.6 bp −$2,262doesn't fit
Sell Backpack live order book, 4 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−0.1256%1h93.812−0.055%$199K$230K7xas long as short
Aftermath Perps HYPEUSD−0.0400%1h93.863−0.001%$22K$22K10xas long as short
Arcus HYPE-USD−0.0233%1h93.832−0.034%$1.2M$3.8M10xas long as short
Ondo Perps HYPE-USD.P−0.0108%1h93.780−0.089%$705K$916K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.868+0.005%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0072%1h93.933+0.074%$86K$368K20xas long as short
Orderly PERP_HYPE_USDC−0.0003%4h93.918+0.058%$170K$590K20xas long as short
dYdX HYPE-USD0.0000%1h93.857−0.007%$128K$30K5xas long as short
Perpl HYPE0.0000%43m93.939+0.080%$23K$329K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.933+0.075%$27K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix HYPE+0.0009%1h93.919+0.059%$217K$1.2M10xas long as short
Derive HYPE-PERP+0.0011%1h93.847−0.018%$16.4M$7.1M10xas long as short
Aster HYPEUSDT+0.0015%4h93.924+0.064%$8.9M$36.1M300xas long as short
Bybit HYPEUSDT+0.0021%8h93.890+0.028%$323.1M$284.0M75xas long as short
Phemex HYPEUSDT+0.0041%8h93.840−0.025%$12.8M$2.6M50xas long as short
MEXC HYPE_USDT+0.0052%4h93.905+0.044%$88.4M$82.2M100xas long as short
Binance HYPEUSDT+0.0054%4h93.899+0.038%$383.8M$898.3M75xas long as short
edgeX HYPEUSDC+0.0061%4h93.800−0.067%$5.1M$29.6M30xas long as short
Popdex HYPEUSDT+0.0064%1h93.933+0.074%$60K$1.2M50xas long as short
Gate HYPE_USDT+0.0072%4h93.901+0.040%$44.1M$59.9M75xas long as short
Bullet HYPE-USD+0.0087%1h93.899+0.038%$113K$578K20xas long as short
OKX HYPE-USDT-SWAP+0.0092%8h93.902+0.041%$115.9M$322.8M50xas long as short
Lighter HYPE+0.0096%1h93.946+0.088%$18.9M$60.4M20xas long as short
Lighter RH HYPE+0.0096%1h93.924+0.064%$3.1M$12.3M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.890+0.028%$399K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.955+0.098%$341K$171K20xas long as short
Katana Perps HYPE-USD+0.0099%8h93.890+0.028%$37K$1.6M10xas long as short
Nado HYPE-PERPlong+0.0100%1h93.863long leg$5.7M$44.4M10x
Hyperliquid HYPE+0.0100%1h93.986+0.131%$2.04B$681.4M10xas long as short
Pacifica HYPE+0.0100%1h93.923+0.063%$10.1M$14.6M20xas long as short
Bulk HYPE-USD+0.0100%1h93.820−0.046%$205K$7K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.909+0.048%$46.5M$18.6M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.908+0.047%$227.4M$102.3M75xas long as short
BingX HYPE-USDT+0.0100%4h93.896+0.035%—$54.2M—as long as short
Backpack HYPE_USDC_PERPshort+0.0100%1h93.927+0.068%$7.9M$10.4M20x
Variational Omni HYPE+0.0100%8h93.811−0.056%$31.2M$54.1M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.848−0.017%$7.6M$45.8M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.859−0.005%$359K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h93.889+0.027%$679K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.943+0.085%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.957+0.100%$472K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.909+0.048%$76K$171K20xas long as short
SunX HYPE-USDT+0.0100%4h93.977+0.121%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.891+0.029%$2.0M$2.0M10xas long as short
Injective HYPE/USDC PERP+0.0104%1h94.410+0.582%$31K$338K12xas long as short
Extended HYPE-USD+0.0104%1h93.880+0.018%$18.3M$42.8M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h94.010+0.156%$4.9M$5.7M50xas long as short
Kalshi KXHYPEPERP+0.0154%8h93.929+0.070%$1.9M$5.0M2.3xas long as short
HTX HYPE-USDT+0.0192%4h94.063+0.213%$1.5M$7.8M75xas long as short
BloFin HYPE-USDT+0.0212%4h93.801−0.067%$16.9M$12.6M75xas long as short
Reya HYPERUSDPERP+0.0249%1h93.882+0.020%$77K$142K15xas long as short
RISEx HYPE/USDC+0.0284%1h93.988+0.133%$2.8M$6.8M20xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0303%1h94.001+0.146%$7.5M$4.6M50xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0338% / S −0.0163%1h93.924+0.064%$1.4M—100xas long as short
Kraken Futures PF_HYPEUSD+0.0577%1h94.004+0.150%$21.0M$29.5M50xas long as short