HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: Aevo against Backpack−0.060%46s7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$410.412% of the position

Long on Backpack Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 3 days (all we have)+0.024%+$2 · spread now −0.060%, 7d avg −0.014%

Together, before fees−0.016%−$2 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: Aevo is 0.046% cheaper against Backpack than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.014%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack HYPE_USDC_PERP	92.955	0.0100	pay 0.0013% / 1h	30m 18s	$7.8M	$11.1M	20x
Short	Aevo HYPE-PERP	92.899	0.0104	get 0.0013% / 1h	30m 18s	$395K	$318K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Backpack. 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

Position, each leg$Hold fordaysFee BackpackbpFee AevobpOrdersPrice spread, now −0.060%Rate

Funding earned: $0.84
Price spread: −0.060% → −0.014%: −$4.64
Slippage, 4 orders: −$15.16
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$44.95
Costs to cover: 0.412%
Break-even: 381.6 days

Slippage from Backpack: live order book, 4 min ago; Aevo: live order book, 54 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 Backpack live order book, 4 min ago	0.05 bp	5.1 bp −$5	6.6 bp −$66	99.0 bp −$9,902	doesn't fit
Sell Aevo live order book, 54 min ago	4.37 bp	13.2 bp −$13	17.1 bp −$171	22.6 bp −$2,259	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
Aftermath Perps HYPEUSD	−0.0393%	1h	93.061	+0.114%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0256%	1h	93.000	+0.049%	$196K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	92.874	−0.087%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0130%	1h	92.880	−0.081%	$698K	$924K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.921	−0.037%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	92.907	−0.052%	$90K	$362K	20x	as long as short
Popdex HYPEUSDT	−0.0016%	1h	92.906	−0.053%	$57K	$1.2M	50x	as long as short
Aster HYPEUSDT	−0.0005%	4h	92.909	−0.049%	$8.8M	$36.0M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.933	−0.024%	$126K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.924	−0.033%	$23K	$331K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	92.945	−0.010%	$20K	—	150x	as long as short
Bybit HYPEUSDT	+0.0024%	8h	92.900	−0.059%	$322.4M	$287.2M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0025%	4h	92.931	−0.026%	$171K	$518K	20x	as long as short
Bullet HYPE-USD	+0.0031%	1h	92.910	−0.048%	$111K	$579K	20x	as long as short
Derive HYPE-PERP	+0.0033%	1h	92.879	−0.082%	$16.2M	$7.1M	10x	as long as short
Gate HYPE_USDT	+0.0034%	4h	92.905	−0.054%	$43.7M	$58.4M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.118	+0.175%	$214K	$1.2M	10x	as long as short
Binance HYPEUSDT	+0.0070%	4h	92.910	−0.048%	$381.7M	$894.6M	75x	as long as short
MEXC HYPE_USDT	+0.0072%	4h	92.920	−0.038%	$89.9M	$81.9M	100x	as long as short
edgeX HYPEUSDC	+0.0086%	4h	93.085	+0.140%	$5.1M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	92.944	−0.012%	$18.5M	$58.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.941	−0.015%	$3.1M	$12.1M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	92.925	−0.033%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.990	+0.038%	$34K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.913	−0.045%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.924	−0.033%	$2.02B	$671.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.941	−0.015%	$9.9M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.909	−0.049%	$113.6M	$313.4M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.030	+0.081%	$203K	$8K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.948	−0.008%	$47.0M	$18.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.923	−0.034%	$225.2M	$103.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.900	−0.059%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERPlong	+0.0100%	1h	92.955	long leg	$7.8M	$11.1M	20x
Variational Omni HYPE	+0.0100%	8h	93.003	+0.052%	$28.9M	$50.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.144	+0.204%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.095	+0.151%	$412K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.014	+0.063%	$673K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.941	−0.015%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.922	−0.036%	$491K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.908	−0.051%	$75K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.038	+0.089%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.948	−0.008%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	92.967	+0.013%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.909	−0.049%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERPshort	+0.0104%	1h	92.899	−0.060%	$395K	$318K	20x
Kalshi KXHYPEPERP	+0.0109%	8h	93.103	+0.159%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.020	+0.070%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	92.950	−0.005%	$30K	$338K	12x	as long as short
HTX HYPE-USDT	+0.0245%	4h	93.158	+0.218%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	92.885	−0.076%	$77K	$158K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	92.982	+0.029%	$2.7M	$6.8M	20x	as long as short
BloFin HYPE-USDT	+0.0293%	4h	92.998	+0.046%	$16.9M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0158%	1h	92.938	−0.018%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0460%	1h	93.068	+0.122%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0467%	1h	93.057	+0.109%	$20.8M	$28.9M	50x	as long as short