Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%
Price spread now: Backpack against Pacifica+0.040%7-day average +0.248% · you sell dearer than you buy
Net, funding: paid 7d − costs−$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$40as in the Price arb table
costs, in and out, $10k−$200.195% of the position
Funding, last 7 days+0.146%+$15 on $10k
+Price spread, last 7 days−0.776%−$78 · spread now +0.040%, 7d avg +0.248%
=Together, before fees−0.630%+ Points / potential airdropPacifica: Active · farm board−$63 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 0.207% cheaper against Pacifica than usual: you would sell low and buy high, −$21 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 | Pacifica HYPE | 94.018 | 0.0100 | pay 0.0013% / 1h | 36m 43s | $10.1M | $14.5M | 20x |
| Short | Backpack HYPE_USDC_PERP | 94.056 | 0.0100 | get 0.0013% / 1h | 36m 43s | $7.9M | $10.5M | 20x |
Pacifica HYPE
Backpack HYPE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Pacifica. 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
- Price spread: +0.040% → +0.248%
- −$20.74
- Slippage, 4 orders
- −$1.53
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$40.27
- Costs to cover
- 0.195%
- Break-even
- never at this rate
Slippage from Pacifica: 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| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Pacifica live order book, 2 min ago | 0.37 bp | 4.7 bp −$5 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 2 min ago | 0.05 bp | 5.3 bp −$5 | 7.0 bp −$70 | 63.2 bp −$6,320 | 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 | −0.0672% | 1h | 93.967 | −0.054% | $199K | $230K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0412% | 1h | 94.103 | +0.090% | $22K | $22K | 10x | as long as short |
| Arcus HYPE-USD | −0.0233% | 1h | 93.906 | −0.119% | $1.2M | $3.8M | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 94.051 | +0.035% | $3K | $331 | 25x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0029% | 1h | 94.040 | +0.023% | $704K | $909K | 10x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 94.120 | +0.109% | $128K | $30K | 5x | as long as short |
| 01 Exchange HYPEUSD | 0.0000% | 1h | 94.039 | +0.022% | $87K | $366K | 20x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 94.056 | +0.041% | $23K | $329K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0003% | 1h | 94.050 | +0.035% | $27K | — | 150x | as long as short |
| Orderly PERP_HYPE_USDC | +0.0007% | 4h | 94.027 | +0.010% | $164K | $579K | 20x | as long as short |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Arcus HYPE-USD
Hotstuff HYPE-PERP
Ondo Perps HYPE-USD.P
dYdX HYPE-USD
01 Exchange HYPEUSD
Perpl HYPE
gTrade (Gains Network) HYPE/USD
Orderly PERP_HYPE_USDCShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix HYPE | +0.0009% | 1h | 94.133 | +0.122% | $215K | $1.2M | 10x | as long as short |
| Bybit HYPEUSDT | +0.0021% | 8h | 93.980 | −0.040% | $323.6M | $282.7M | 75x | as long as short |
| Derive HYPE-PERP | +0.0026% | 1h | 93.958 | −0.064% | $16.5M | $7.1M | 10x | as long as short |
| Aster HYPEUSDT | +0.0034% | 4h | 94.012 | −0.007% | $8.9M | $35.9M | 300x | as long as short |
| Phemex HYPEUSDT | +0.0060% | 8h | 94.058 | +0.043% | $12.8M | $2.6M | 50x | as long as short |
| Binance HYPEUSDT | +0.0070% | 4h | 93.992 | −0.028% | $384.4M | $891.4M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0070% | 4h | 94.002 | −0.017% | $88.5M | $81.3M | 100x | as long as short |
| Gate HYPE_USDT | +0.0078% | 4h | 94.003 | −0.016% | $44.5M | $58.7M | 75x | as long as short |
| edgeX HYPEUSDC | +0.0089% | 4h | 94.057 | +0.041% | $5.1M | $29.8M | 30x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 94.059 | +0.044% | $19.0M | $59.8M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 94.033 | +0.016% | $3.1M | $12.3M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 94.027 | +0.010% | $63K | $1.2M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0096% | 1h | 94.029 | +0.012% | $400K | $318K | 20x | as long as short |
| Paradex HYPE-USD-PERP | +0.0099% | 8h | 93.996 | −0.024% | $341K | $171K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 94.070 | +0.055% | $29K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 94.026 | +0.009% | $5.7M | $44.3M | 10x | as long as short |
| Pacifica HYPElong | +0.0100% | 1h | 94.018 | long leg | $10.1M | $14.5M | 20x | |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.983 | −0.037% | $115.9M | $319.7M | 50x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 94.014 | −0.004% | $47.3M | $18.4M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 94.016 | −0.002% | $227.7M | $102.7M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 94.003 | −0.016% | — | $54.0M | — | as long as short |
| Backpack HYPE_USDC_PERPshort | +0.0100% | 1h | 94.056 | +0.040% | $7.9M | $10.5M | 20x | |
| Variational Omni HYPE | +0.0100% | 8h | 94.033 | +0.016% | $31.4M | $53.9M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 94.098 | +0.086% | $7.6M | $45.0M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 94.094 | +0.081% | $335K | $1.1M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 94.099 | +0.086% | $680K | $2.5M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 94.085 | +0.072% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 94.052 | +0.036% | $491K | $2.5M | 20x | as long as short |
| Bullet HYPE-USD | +0.0100% | 1h | 94.013 | −0.005% | $112K | $578K | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 94.014 | −0.004% | $76K | $169K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 94.081 | +0.067% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 94.016 | −0.002% | $2.0M | $2.0M | 10x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 94.120 | +0.108% | $205K | $7K | 10x | as long as short |
| Injective HYPE/USDC PERP | +0.0104% | 1h | 94.020 | +0.002% | $31K | $338K | 12x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.989 | −0.031% | $18.4M | $42.6M | 50x | as long as short |
| Kalshi KXHYPEPERP | +0.0137% | 8h | 94.156 | +0.147% | $1.9M | $5.0M | 2.3x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0152% | 1h | 94.090 | +0.077% | $4.9M | $5.7M | 50x | as long as short |
| HTX HYPE-USDT | +0.0224% | 4h | 94.215 | +0.210% | $1.5M | $7.8M | 75x | as long as short |
| Reya HYPERUSDPERP | +0.0249% | 1h | 94.010 | −0.009% | $77K | $142K | 15x | as long as short |
| BloFin HYPE-USDT | +0.0280% | 4h | 94.014 | −0.004% | $17.0M | $12.6M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0284% | 1h | 94.089 | +0.076% | $2.8M | $6.8M | 20x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0338% / S −0.0163% | 1h | 94.048 | +0.032% | $1.4M | — | 100x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0398% | 1h | 94.133 | +0.122% | $7.4M | $4.6M | 50x | as long as short |
| Hyperliquid HYPE | +0.0398% | 1h | 94.104 | +0.091% | $2.05B | $667.2M | 10x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0576% | 1h | 94.132 | +0.121% | $21.0M | $29.2M | 50x | as long as short |
Phoenix HYPE
Bybit HYPEUSDT
Derive HYPE-PERP
Aster HYPEUSDT
Phemex HYPEUSDT
Binance HYPEUSDT
MEXC HYPE_USDT
Gate HYPE_USDT
edgeX HYPEUSDC
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Aevo HYPE-PERP
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
OKX HYPE-USDT-SWAP
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bullet HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Bulk HYPE-USD
Injective HYPE/USDC PERP
Extended HYPE-USD
Kalshi KXHYPEPERP
Coinbase International HYPE-PERP-INTX
HTX HYPE-USDT
Reya HYPERUSDPERP
BloFin HYPE-USDT
RISEx HYPE/USDC
GMX HYPE/USD [WBTC.b-USDC]
Deribit HYPE_USDC-PERPETUAL
Hyperliquid HYPE
Kraken Futures PF_HYPEUSD