HYPE

Alert

Funding spread now, next payment 17:00 UTC+0.0309%/8h

next payment, per $10,000+$0.39paid, last 24h−0.003%paid, last 7 days−0.011%to open and close $10k−$28

Long on Backpack Short on Kraken Futures

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.011% in total (about -0.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.39 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack HYPE_USDC_PERP	93.226	0.0100	pay 0.0013% / 1h	17m 17s	$8.5M	$10.1M	20x
Short	Kraken Futures PF_HYPEUSD	93.245	0.0409	get 0.0051% / 1h	17m 17s	$16.3M	$20.8M	50x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee Kraken FuturesbpOrdersRate

Funding earned: $64.89
Slippage, 4 orders: −$8.01
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $36.88
Break-even: 3.0 days

Slippage from Backpack: live order book, 3 min ago; Kraken Futures: live order book, 3 min ago.

Price risk

price view

Price gap now: +0.021%
Avg gap 7d: +0.014%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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	6.8 bp −$68	54.8 bp −$5,481	doesn't fit
Sell Kraken Futures live order book, 3 min ago	2.47 bp	7.5 bp −$7	12.2 bp −$122	20.1 bp −$2,014	64.3 bp −$32.1K

HYPE on 54 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Hotstuff HYPE-PERP	−0.0080%	1h	$3K	$307	25x	as long as short
Hibachi HYPE/USDT-P	−0.0048%	1h	$195K	$231K	7x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	$55K	—	150x	as long as short
Orderly PERP_HYPE_USDC	+0.0007%	4h	$170K	$356K	20x	as long as short
dYdX HYPE-USD	+0.0042%	1h	$127K	$26K	5x	as long as short
Phemex HYPEUSDT	+0.0087%	8h	$12.6M	$2.4M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0093%	8h	$114.7M	$312.0M	50x	as long as short
Lighter RH HYPE	+0.0096%	1h	$3.1M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	$134K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	$40K	$1.8M	10x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Nado HYPE-PERP	+0.0100%	1h	$5.9M	$43.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	$8.9M	$35.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	$11.3M	$12.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	$391.0M	$848.6M	75x	as long as short
Bybit HYPEUSDT	+0.0100%	8h	$325.8M	$284.6M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	$700K	$987K	10x	as long as short
Arcus HYPE-USD	+0.0100%	1h	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	$204K	$17K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	$44.1M	$54.8M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	$88.5M	$88.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	$45.1M	$19.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	$228.6M	$100.3M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	—	$52.4M	—	as long as short
Backpack HYPE_USDC_PERPlong	+0.0100%	1h	$8.5M	$10.1M	20x
Variational Omni HYPE	+0.0100%	8h	$29.0M	$50.9M	—	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	$427K	$930K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	$671K	$2.3M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	—	$407K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	$458K	$2.4M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	$112K	$580K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	$16.4M	$7.2M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	$18.2M	$42.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	$397K	$340K	20x	as long as short
edgeX HYPEUSDC	+0.0105%	4h	$5.1M	$29.0M	30x	as long as short
Perpl HYPE	+0.0112%	43m	$31K	$349K	10x	as long as short
Paradex HYPE-USD-PERP	+0.0121%	8h	$338K	$287K	20x	as long as short
Kalshi KXHYPEPERP	+0.0124%	8h	$1.7M	$4.8M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	$5.0M	$5.5M	50x	as long as short
Lighter HYPE	+0.0160%	1h	$18.3M	$58.1M	20x	as long as short
01 Exchange HYPEUSD	+0.0160%	1h	$91K	$318K	20x	as long as short
Reya HYPERUSDPERP	+0.0230%	1h	$73K	$153K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0297%	1h	$7.4M	$4.3M	50x	as long as short
Aftermath Perps HYPEUSD	+0.0306%	1h	$22K	$34K	10x	as long as short
Hyperliquid HYPE	+0.0317%	1h	$2.02B	$618.8M	10x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	$17.4M	$11.8M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0356% / S −0.0176%	1h	$1.5M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0356%	1h	$24K	$256K	12x	as long as short
Phoenix HYPE	+0.0386%	1h	$294K	$1.0M	10x	as long as short
Kraken Futures PF_HYPEUSDshort	+0.0409%	1h	$16.3M	$20.8M	50x
RISEx HYPE/USDC	+0.0620%	1h	$2.6M	$7.3M	20x	as long as short
HTX HYPE-USDT	+0.0905%	4h	$1.5M	$7.1M	75x	as long as short
Bluefin HYPE-PERP	+0.3329%	1h	$73K	$186K	20x	as long as short