Funding you earn now, next payment 01:38 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.025%
Price spread now: Backpack against Perpl+0.044%7-day average −0.001% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.199%+$20 on $10k
+Price spread, last 4 days (all we have)−0.708%−$71 · spread now +0.044%, 7d avg −0.001%
=Together, before fees−0.509%+ Points / potential airdropPerpl: Active · farm board−$51 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Backpack is 0.045% dearer against Perpl than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.001%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Perpl HYPE | 93.345 | 0 | get 0.0000% / 43m | 33m 42s | $23K | $322K | 10x |
| Short | Backpack HYPE_USDC_PERP | 93.386 | 0.0100 | get 0.0013% / 1h | 45m 42s | $7.4M | $10.4M | 20x |
Perpl HYPE
Backpack HYPE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Perpl. 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
- $21
- Price spread: +0.044% → −0.001%
- $4.54
- Slippage, 4 orders
- no order book: not counted
- Fee Perpl: 6.9 bp × 2 orders
- −$13.8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $1.74
- Costs to cover
- 0.238%
- Break-even
- 6.4 days
Slippage unknown: Perpl: no order-book sample; Backpack: live order book, 3 min ago. Net counts fees only.
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 Perpl no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 3 min ago | 0.05 bp | 5.1 bp −$5 | 8.7 bp −$87 | 178.1 bp −$17.8K | doesn't fit |
Perpl: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.1208% | 1h | 93.237 | −0.116% | $196K | $226K | 7x | as long as short |
| Arcus HYPE-USD | −0.0899% | 1h | 93.461 | +0.125% | $1.2M | $3.8M | 10x | as long as short |
| Bluefin HYPE-PERP | −0.0177% | 1h | 93.373 | +0.030% | $79K | $170K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.299 | −0.049% | $3K | $331 | 25x | as long as short |
| Phemex HYPEUSDT | −0.0072% | 8h | 93.372 | +0.029% | $12.6M | $2.7M | 50x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0047% | 4h | 93.374 | +0.031% | $156K | $630K | 20x | as long as short |
| 01 Exchange HYPEUSD | −0.0040% | 1h | 93.387 | +0.045% | $85K | $346K | 20x | as long as short |
| Aftermath Perps HYPEUSD | −0.0030% | 1h | 93.294 | −0.054% | $22K | $21K | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0005% | 1h | 93.490 | +0.156% | $698K | $977K | 10x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.524 | +0.192% | $128K | $31K | 5x | as long as short |
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Bluefin HYPE-PERP
Hotstuff HYPE-PERP
Phemex HYPEUSDT
Orderly PERP_HYPE_USDC
01 Exchange HYPEUSD
Aftermath Perps HYPEUSD
Ondo Perps HYPE-USD.P
dYdX HYPE-USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Perpl HYPElong | 0.0000% | 43m | 93.345 | long leg | $23K | $322K | 10x | |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0002% | 1h | 93.393 | +0.052% | $62K | — | 150x | as long as short |
| BingX HYPE-USDT | +0.0008% | 4h | 93.578 | +0.250% | — | $53.0M | — | as long as short |
| Aster HYPEUSDT | +0.0008% | 4h | 93.544 | +0.214% | $8.9M | $35.6M | 300x | as long as short |
| Phoenix HYPE | +0.0026% | 1h | 93.418 | +0.079% | $213K | $1.2M | 10x | as long as short |
| Bybit HYPEUSDT | +0.0028% | 8h | 93.550 | +0.220% | $323.0M | $276.4M | 75x | as long as short |
| Bullet HYPE-USD | +0.0053% | 1h | 93.377 | +0.035% | $111K | $577K | 20x | as long as short |
| Gate HYPE_USDT | +0.0056% | 4h | 93.579 | +0.251% | $44.7M | $54.5M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0078% | 8h | 93.579 | +0.251% | $114.6M | $302.6M | 50x | as long as short |
| MEXC HYPE_USDT | +0.0090% | 4h | 93.560 | +0.231% | $87.9M | $80.2M | 100x | as long as short |
| Binance HYPEUSDT | +0.0090% | 4h | 93.570 | +0.241% | $379.9M | $877.1M | 75x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.576 | +0.248% | $16.4M | $61.5M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.553 | +0.223% | $3.1M | $11.5M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.368 | +0.025% | $68K | $1.2M | 50x | as long as short |
| Paradex HYPE-USD-PERP | +0.0097% | 8h | 93.608 | +0.282% | $340K | $162K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.580 | +0.252% | $19K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.311 | −0.037% | $5.8M | $43.4M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.634 | +0.310% | $2.04B | $655.0M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.565 | +0.236% | $10.1M | $14.6M | 20x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.580 | +0.252% | $204K | $10K | 10x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.582 | +0.254% | $46.0M | $18.1M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.565 | +0.236% | $226.3M | $96.8M | 75x | as long as short |
| Backpack HYPE_USDC_PERPshort | +0.0100% | 1h | 93.386 | +0.044% | $7.4M | $10.4M | 20x | |
| Variational Omni HYPE | +0.0100% | 8h | 93.339 | −0.006% | $31.1M | $54.0M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.362 | +0.019% | $7.5M | $46.2M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.280 | −0.069% | $339K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.252 | −0.099% | $665K | $2.6M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.403 | +0.063% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.396 | +0.055% | $475K | $2.5M | 20x | as long as short |
| Derive HYPE-PERP | +0.0100% | 1h | 93.373 | +0.031% | $16.2M | $7.6M | 10x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.479 | +0.144% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.400 | +0.059% | $2.0M | $1.9M | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.555 | +0.226% | $18.4M | $43.7M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.385 | +0.043% | $397K | $170K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0104% | 4h | 93.274 | −0.075% | $5.0M | $29.9M | 30x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0176% | 1h | 93.450 | +0.113% | $4.9M | $5.4M | 50x | as long as short |
| HTX HYPE-USDT | +0.0203% | 4h | 93.500 | +0.166% | $1.4M | $6.0M | 75x | as long as short |
| Reya HYPERUSDPERP | +0.0257% | 1h | 93.366 | +0.023% | $79K | $140K | 15x | as long as short |
| Kalshi KXHYPEPERP | +0.0280% | 8h | 93.394 | +0.053% | $1.9M | $5.0M | 2.3x | as long as short |
| BloFin HYPE-USDT | +0.0329% | 4h | 93.267 | −0.083% | — | $11.6M | 75x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0332% / S −0.0156% | 1h | 93.398 | +0.057% | $1.4M | — | 100x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0392% | 1h | 93.481 | +0.146% | $7.5M | $4.4M | 50x | as long as short |
| RISEx HYPE/USDC | +0.0510% | 1h | 93.668 | +0.346% | $3.2M | $6.5M | 20x | as long as short |
| Injective HYPE/USDC PERP | +0.0519% | 1h | 93.150 | −0.208% | $30K | $339K | 12x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0685% | 1h | 93.452 | +0.115% | $20.8M | $30.1M | 50x | as long as short |
gTrade (Gains Network) HYPE/USD
BingX HYPE-USDT
Aster HYPEUSDT
Phoenix HYPE
Bybit HYPEUSDT
Bullet HYPE-USD
Gate HYPE_USDT
OKX HYPE-USDT-SWAP
MEXC HYPE_USDT
Binance HYPEUSDT
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Bulk HYPE-USD
KuCoin HYPEUSDTM
Bitget HYPEUSDT
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Derive HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Extended HYPE-USD
Aevo HYPE-PERP
edgeX HYPEUSDC
Coinbase International HYPE-PERP-INTX
HTX HYPE-USDT
Reya HYPERUSDPERP
Kalshi KXHYPEPERP
BloFin HYPE-USDT
GMX HYPE/USD [WBTC.b-USDC]
Deribit HYPE_USDC-PERPETUAL
RISEx HYPE/USDC
Injective HYPE/USDC PERP
Kraken Futures PF_HYPEUSD