HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0515%/8h= −56.4% APRnext payment −$0.64 per $10,000 · paid last 24h −0.041%

Price spread now: Aftermath Perps against Backpack−0.544%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Aftermath Perps is 0.544% cheaper against Backpack than usual: you would sell low and buy high (−$54 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack HYPE_USDC_PERP	94.122	0.0100	pay 0.0013% / 1h	17m 53s	$7.2M	$10.7M	20x
Short	Aftermath Perps HYPEUSD	93.610	−0.0415	pay 0.0052% / 1h	17m 53s	$22K	$21K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps 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 Aftermath PerpsbpOrdersPrice spread, now −0.544%Rate

Funding earned: −$108.14
Price spread: −0.544% → 0.000%: −$54.43
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$181.57
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 1 min ago; Aftermath Perps: no order-book sample. 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 Backpack live order book, 1 min ago	0.05 bp	5.5 bp −$5	7.6 bp −$76	92.3 bp −$9,231	doesn't fit
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Aftermath Perps: 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	−0.1376%	1h	93.862	−0.276%	$199K	$239K	7x	as long as short
Aftermath Perps HYPEUSDshort	−0.0415%	1h	93.610	−0.544%	$22K	$21K	10x
Hotstuff HYPE-PERP	−0.0080%	1h	94.007	−0.122%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0035%	1h	94.114	−0.008%	$112K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0018%	4h	94.120	−0.002%	$147K	$674K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.993	−0.137%	$129K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	94.049	−0.078%	$88K	$365K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.054	−0.073%	$23K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	94.160	+0.040%	$63K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	93.989	−0.141%	$1.0M	$3.9M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget HYPEUSDT	+0.0016%	4h	94.137	+0.016%	$227.0M	$99.2M	75x	as long as short
Bybit HYPEUSDT	+0.0020%	8h	94.080	−0.045%	$319.2M	$283.7M	75x	as long as short
Phemex HYPEUSDT	+0.0025%	8h	94.054	−0.072%	$12.8M	$2.8M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	93.624	−0.529%	$208K	$1.2M	10x	as long as short
Ondo Perps HYPE-USD.P	+0.0049%	1h	93.930	−0.204%	$704K	$1.2M	10x	as long as short
edgeX HYPEUSDC	+0.0094%	4h	93.626	−0.527%	$5.0M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	94.061	−0.064%	$342K	$158K	20x	as long as short
Lighter HYPE	+0.0096%	1h	94.155	+0.035%	$16.3M	$63.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.130	+0.008%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.023	−0.105%	$71K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.020	−0.108%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.007	−0.123%	$7.8M	$48.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.172	+0.053%	$2.06B	$674.1M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.127	+0.005%	$8.8M	$36.5M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.058	−0.068%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.103	−0.020%	$377.8M	$918.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.087	−0.037%	$116.3M	$314.8M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.358	−0.812%	$216K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.132	+0.011%	$47.4M	$54.7M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.132	+0.011%	$90.6M	$81.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.157	+0.037%	$46.5M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.087	−0.037%	—	$53.5M	—	as long as short
Backpack HYPE_USDC_PERPlong	+0.0100%	1h	94.122	long leg	$7.2M	$10.7M	20x
Variational Omni HYPE	+0.0100%	8h	93.699	−0.450%	$28.6M	$56.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.275	−0.900%	$7.5M	$47.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.227	−0.951%	$342K	$997K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.924	−0.210%	$672K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.082	−0.043%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.046	−0.081%	$482K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.159	+0.039%	$80K	$165K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	94.129	+0.008%	$16.2M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.208	+0.091%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.143	+0.022%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.250	+0.136%	$1.4M	$6.5M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.104	−0.019%	$18.3M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.160	+0.041%	$398K	$158K	20x	as long as short
Kalshi KXHYPEPERP	+0.0119%	8h	94.134	+0.013%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	94.080	−0.045%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.180	+0.062%	$4.7M	$5.9M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0217%	1h	94.228	+0.113%	$7.5M	$4.1M	50x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	94.041	−0.086%	$80K	$127K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	94.127	+0.006%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0338%	1h	94.230	+0.115%	$21.1M	$29.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.930	−0.204%	$16.9M	$12.0M	75x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	94.085	−0.040%	$3.2M	$6.3M	20x	as long as short