HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0057%/8h= −6.2% APRnext payment −$0.07 per $10,000 · paid last 24h +0.001%

Price spread now: ApeX Omni against Backpack+0.044%7-day average −0.267% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs+$4as in the Price arb table

costs, in and out, $10k−$270.270% of the position

Long on Backpack Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.047%−$5 on $10k

Price spread, last 7 days+1.210%+$121 · spread now +0.044%, 7d avg −0.267%

Together, before fees+1.163%+$116 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.311% dearer against Backpack than usual: you sell high and buy low (spread +0.044% now, against its 7-day average of −0.267%): +$31 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 18 days. At the pace of the last 7 days (−0.047% in total) that is about 46 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack HYPE_USDC_PERP	94.731	0.0055	pay 0.0007% / 1h	49m 28s	$6.8M	$12.3M	20x
Short	ApeX Omni HYPEUSDT	94.773	−0.0001	pay 0.0000% / 1h	49m 28s	$323K	$924K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now +0.044%Rate

Funding earned: −$11.9
Price spread: +0.044% → −0.267%: $31.11
Slippage, 4 orders: −$6.99
Fee Backpack: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$7.78
Costs to cover: 0.270%
Break-even: from the start

Slippage from Backpack: live order book, 3 min ago; ApeX Omni: live order book, 53 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, 3 min ago	0.05 bp	5.1 bp −$5	6.5 bp −$65	29.7 bp −$2,969	doesn't fit
Sell ApeX Omni live order book, 53 min ago	2.31 bp	8.3 bp −$8	12.5 bp −$125	doesn't fit	doesn't fit

HYPE on 55 exchanges

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
Kraken Futures PF_HYPEUSD	−0.0282%	1h	94.758	+0.028%	$18.3M	$32.6M	50x	as long as short
Phemex HYPEUSDT	−0.0253%	8h	94.736	+0.005%	$12.9M	$2.2M	50x	as long as short
Bluefin HYPE-PERP	−0.0225%	1h	94.740	+0.010%	$78K	$130K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0214%	1h	94.620	−0.117%	$677K	$1.3M	10x	as long as short
Lighter HYPE	−0.0144%	1h	94.540	−0.202%	$16.5M	$55.3M	20x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	94.682	−0.052%	$102K	$351K	20x	as long as short
Aster HYPEUSDT	−0.0103%	4h	94.652	−0.083%	$9.0M	$34.6M	300x	as long as short
Gate HYPE_USDT	−0.0082%	4h	94.632	−0.105%	$55.8M	$52.7M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.894	+0.172%	$3K	$421	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0074%	4h	94.736	+0.005%	$147K	$642K	20x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International HYPE-PERP-INTX	−0.0064%	1h	94.790	+0.062%	$4.7M	$5.4M	50x	as long as short
Aftermath Perps HYPEUSD	−0.0058%	1h	94.948	+0.229%	$22K	$17K	10x	as long as short
OKX HYPE-USDT-SWAP	−0.0042%	8h	94.622	−0.115%	$118.8M	$303.2M	50x	as long as short
Bitget HYPEUSDT	−0.0028%	4h	94.653	−0.082%	$229.2M	$86.1M	75x	as long as short
Phoenix HYPE	−0.0017%	1h	94.778	+0.050%	$199K	$1.1M	10x	as long as short
Bullet HYPE-USD	−0.0004%	1h	94.635	−0.101%	$113K	$585K	20x	as long as short
ApeX Omni HYPEUSDTshort	−0.0001%	1h	94.773	+0.044%	$323K	$924K	50x
dYdX HYPE-USD	0.0000%	1h	94.572	−0.168%	$127K	$96K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.643	−0.093%	$24K	$248K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.640	−0.096%	$99K	—	150x	as long as short
Lighter RH HYPE	+0.0016%	1h	94.573	−0.167%	$3.2M	$9.8M	20x	as long as short
Derive HYPE-PERP	+0.0020%	1h	94.742	+0.012%	$16.3M	$7.0M	10x	as long as short
edgeX HYPEUSDC	+0.0021%	4h	94.769	+0.040%	$5.0M	$28.0M	30x	as long as short
Bybit HYPEUSDT	+0.0026%	8h	94.650	−0.086%	$319.4M	$263.0M	75x	as long as short
MEXC HYPE_USDT	+0.0028%	4h	94.666	−0.069%	$88.4M	$82.6M	100x	as long as short
Binance HYPEUSDT	+0.0029%	4h	94.671	−0.063%	$381.7M	$850.8M	75x	as long as short
BingX HYPE-USDT	+0.0034%	4h	94.603	−0.135%	—	$49.7M	—	as long as short
Popdex HYPEUSDT	+0.0040%	1h	94.685	−0.049%	$273K	$998K	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0045%	1h	94.858	+0.134%	$7.5M	$4.2M	50x	as long as short
Backpack HYPE_USDC_PERPlong	+0.0055%	1h	94.731	long leg	$6.8M	$12.3M	20x
SoDEX HYPE-USD	+0.0063%	1h	94.799	+0.072%	$2.1M	$335K	10x	as long as short
KuCoin HYPEUSDTM	+0.0084%	4h	94.643	−0.093%	$47.2M	$17.7M	75x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	94.905	+0.184%	$401K	$125K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0092%	8h	94.598	−0.141%	$338K	$30K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	94.600	−0.138%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.820	+0.094%	$7.2M	$50.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.770	+0.041%	$2.10B	$643.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.627	−0.110%	$10.2M	$12.8M	20x	as long as short
Arcus HYPE-USD	+0.0100%	1h	94.630	−0.107%	$1.0M	$2.8M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.036	+0.322%	$228K	$20K	10x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.740	+0.009%	$30.0M	$52.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.770	+0.041%	$7.7M	$41.1M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.854	+0.130%	$690K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.735	+0.004%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.673	−0.061%	$496K	$2.4M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.928	+0.208%	$32K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.853	+0.129%	$1.4M	$5.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.573	−0.167%	$18.2M	$37.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0118%	8h	94.826	+0.100%	$1.8M	$5.1M	2.3x	as long as short
BloFin HYPE-USDT	+0.0135%	4h	94.728	−0.003%	$17.5M	$11.5M	75x	as long as short
RISEx HYPE/USDC	+0.0138%	1h	94.642	−0.094%	$3.1M	$5.2M	20x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	94.636	−0.100%	$84K	$90K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	94.662	−0.073%	$1.4M	—	100x	as long as short
Hibachi HYPE/USDT-P	+0.1000%	1h	94.909	+0.187%	$214K	$277K	7x	as long as short
Injective HYPE/USDC PERP	+0.1234%	1h	95.420	+0.727%	$31K	$334K	12x	as long as short