Settings8H · net · $10k
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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 03:00 UTC−0.0105%/8h= −11.4% APRnext payment −$0.13 per $10,000 · paid last 24h −0.014%
Price spread now: Bullet against Backpack+0.035%7-day average +0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$240.236% of the position
Long on BackpackShort on Bullet
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.035%−$3 on $10k
Price spread, last 4 days (all we have)+0.575%+$57 · spread now +0.035%, 7d avg +0.008%
Together, before fees+0.540%+$54 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bullet is 0.028% dearer against Backpack than usual: you sell high and buy low (spread +0.035% now, against its 7-day average of +0.008%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 3 days (−0.035% in total) that is about 2.6 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack HYPE_USDC_PERP93.4440.0100pay 0.0013% / 1h32m 54s$7.4M$10.3M20x
ShortBullet HYPE-USD93.477−0.0005pay 0.0001% / 1h32m 54s$111K$578K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet against Backpack. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$21.95
Price spread: +0.035% → +0.008%
$2.77
Slippage, 4 orders
−$5.58
Fee Backpack: 5 bp × 2 orders
−$10
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$42.75
Costs to cover
0.236%
Break-even
never at this rate
Slippage from Backpack: live order book, 1 min ago; Bullet: live order book, 31 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Backpack live order book, 1 min ago0.05 bp5.1 bp −$57.4 bp −$74108.0 bp −$10.8Kdoesn't fit
Sell Bullet live order book, 31 min ago0.48 bp7.4 bp −$710.8 bp −$108doesn't fitdoesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1288%1h93.317−0.135%$196K$226K7xas long as short
Arcus HYPE-USD−0.0899%1h93.375−0.074%$1.2M$3.8M10xas long as short
Ondo Perps HYPE-USD.P−0.0106%1h93.320−0.133%$699K$996K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.477+0.035%$3K$33125xas long as short
Phemex HYPEUSDT−0.0073%8h93.467+0.025%$12.6M$2.7M50xas long as short
Aftermath Perps HYPEUSD−0.0058%1h93.411−0.035%$22K$21K10xas long as short
01 Exchange HYPEUSD−0.0056%1h93.511+0.072%$85K$344K20xas long as short
Orderly PERP_HYPE_USDC−0.0043%4h93.498+0.058%$154K$647K20xas long as short
Bullet HYPE-USDshort−0.0005%1h93.477+0.035%$111K$578K20x
dYdX HYPE-USD0.0000%1h93.478+0.036%$128K$31K5xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl HYPE0.0000%43m93.470+0.027%$23K$322K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.505+0.065%$62K—150xas long as short
Aster HYPEUSDT+0.0025%4h93.486+0.045%$8.8M$35.5M300xas long as short
Phoenix HYPE+0.0026%1h93.393−0.055%$213K$1.2M10xas long as short
BingX HYPE-USDT+0.0026%4h93.419−0.027%—$53.0M—as long as short
Bybit HYPEUSDT+0.0032%8h93.420−0.026%$321.4M$277.3M75xas long as short
Gate HYPE_USDT+0.0048%4h93.433−0.012%$44.6M$54.9M75xas long as short
OKX HYPE-USDT-SWAP+0.0077%8h93.415−0.031%$114.2M$302.0M50xas long as short
Lighter HYPE+0.0096%1h93.524+0.085%$16.3M$61.7M20xas long as short
Lighter RH HYPE+0.0096%1h93.512+0.073%$3.1M$11.6M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.493+0.052%$69K$1.2M50xas long as short
Paradex HYPE-USD-PERP+0.0097%8h93.537+0.099%$340K$162K20xas long as short
MEXC HYPE_USDT+0.0098%4h93.431−0.014%$89.8M$80.8M100xas long as short
edgeX HYPEUSDC+0.0100%4h93.360−0.090%$5.1M$29.7M30xas long as short
Katana Perps HYPE-USD+0.0100%8h93.490+0.049%$17K$1.6M10xas long as short
Binance HYPEUSDT+0.0100%4h93.440−0.004%$378.9M$876.1M75xas long as short
Nado HYPE-PERP+0.0100%1h93.485+0.044%$5.8M$43.2M10xas long as short
Hyperliquid HYPE+0.0100%1h93.518+0.079%$2.04B$654.0M10xas long as short
Pacifica HYPE+0.0100%1h93.524+0.085%$10.1M$14.6M20xas long as short
Bulk HYPE-USD+0.0100%1h93.364−0.085%$203K$10K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.450+0.006%$46.0M$18.1M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.430−0.015%$225.9M$96.6M75xas long as short
Backpack HYPE_USDC_PERPlong+0.0100%1h93.444long leg$7.4M$10.3M20x
Variational Omni HYPE+0.0100%8h93.367−0.083%$31.1M$53.9M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.422−0.023%$7.5M$45.5M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.349−0.102%$339K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.403−0.044%$667K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.521+0.082%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.525+0.087%$472K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.467+0.025%$79K$170K20xas long as short
Derive HYPE-PERP+0.0100%1h93.466+0.024%$16.2M$7.5M10xas long as short
SunX HYPE-USDT+0.0100%4h93.540+0.103%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.500+0.060%$2.0M$1.9M10xas long as short
Extended HYPE-USD+0.0104%1h93.383−0.065%$18.4M$43.6M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.486+0.045%$398K$162K20xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.580+0.146%$4.8M$5.6M50xas long as short
HTX HYPE-USDT+0.0190%4h93.650+0.220%$1.4M$6.0M75xas long as short
Reya HYPERUSDPERP+0.0258%1h93.484+0.043%$79K$140K15xas long as short
Kalshi KXHYPEPERP+0.0278%8h93.511+0.072%$1.9M$5.0M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0331% / S −0.0156%1h93.508+0.068%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.487+0.046%$17.0M$11.6M75xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0359%1h93.583+0.149%$7.5M$4.4M50xas long as short
RISEx HYPE/USDC+0.0510%1h93.578+0.144%$3.2M$6.3M20xas long as short
Injective HYPE/USDC PERP+0.0519%1h93.370−0.079%$30K$339K12xas long as short
Kraken Futures PF_HYPEUSD+0.0684%1h93.553+0.117%$20.8M$29.7M50xas long as short