HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h 0.000%

Price spread now: Lighter RH against Backpack−0.071%7-day average −0.264% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs$0as in the Price arb table

costs, in and out, $10k−$190.194% of the position

Long on Backpack Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.100%−$10 on $10k

Price spread, last 7 days+1.447%+$145 · spread now −0.071%, 7d avg −0.264%

Together, before fees+1.347%+ Points / potential airdropLighter RH: Points live · farm board+$135 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: Lighter RH is 0.193% dearer against Backpack than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of −0.264%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack HYPE_USDC_PERP	95.277	0.0100	pay 0.0013% / 1h	5m 36s	$7.8M	$10.3M	20x
Short	Lighter RH HYPE	95.209	0.0096	get 0.0012% / 1h	5m 36s	$3.3M	$10.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.071%Rate

Funding earned: −$0.84
Price spread: −0.071% → −0.264%: $19.28
Slippage, 4 orders: −$9.39
Fee Backpack: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$0.96
Costs to cover: 0.194%
Break-even: never at this rate

Slippage from Backpack: live order book, 2 min ago; Lighter RH: live order book, 6 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, 2 min ago	0.05 bp	9.6 bp −$10	12.2 bp −$122	171.6 bp −$17.2K	doesn't fit
Sell Lighter RH live order book, 6 min ago	0.63 bp	0.7 bp −$1	2.6 bp −$26	25.7 bp −$2,565	doesn't fit

HYPE on 54 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
Hibachi HYPE/USDT-P	−0.1416%	1h	95.014	−0.276%	$211K	$260K	7x	as long as short
Bluefin HYPE-PERP	−0.0417%	1h	95.113	−0.172%	$79K	$136K	20x	as long as short
Kraken Futures PF_HYPEUSD	−0.0376%	1h	95.212	−0.068%	$18.6M	$35.3M	50x	as long as short
Bullet HYPE-USD	−0.0294%	1h	95.097	−0.188%	$114K	$581K	20x	as long as short
Phemex HYPEUSDT	−0.0241%	8h	95.180	−0.102%	$13.0M	$2.7M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0202%	1h	95.140	−0.144%	$692K	$1.3M	10x	as long as short
Arcus HYPE-USD	−0.0159%	1h	95.184	−0.098%	$1.1M	$2.5M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0152%	1h	95.092	−0.194%	$22K	$17K	10x	as long as short
01 Exchange HYPEUSD	−0.0136%	1h	95.180	−0.102%	$92K	$348K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.183	−0.099%	$3K	$331	25x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	−0.0074%	4h	95.202	−0.079%	$54.5M	$54.9M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0035%	4h	95.098	−0.188%	$148K	$645K	20x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0024%	1h	95.100	−0.186%	$4.7M	$5.5M	50x	as long as short
Aster HYPEUSDT	−0.0016%	4h	95.189	−0.092%	$9.0M	$33.3M	300x	as long as short
Vest HYPE-PERP	−0.0008%	1h	95.171	−0.112%	—	$80K	5x	as long as short
OKX HYPE-USDT-SWAP	−0.0004%	8h	95.166	−0.117%	$119.3M	$306.0M	50x	as long as short
BingX HYPE-USDT	−0.0004%	4h	95.198	−0.083%	—	$48.5M	—	as long as short
dYdX HYPE-USD	0.0000%	1h	95.180	−0.102%	$131K	$92K	5x	as long as short
Perpl HYPE	0.0000%	43m	95.172	−0.110%	$24K	$254K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.233	−0.046%	$99K	—	150x	as long as short
Lighter HYPE	+0.0008%	1h	95.186	−0.095%	$16.3M	$61.2M	20x	as long as short
Bulk HYPE-USD	+0.0016%	1h	95.192	−0.089%	$232K	$12K	10x	as long as short
Phoenix HYPE	+0.0017%	1h	95.148	−0.135%	$198K	$1.0M	10x	as long as short
Bitget HYPEUSDT	+0.0024%	4h	95.191	−0.090%	$228.8M	$88.1M	75x	as long as short
SoDEX HYPE-USD	+0.0037%	1h	95.198	−0.083%	$2.1M	$373K	10x	as long as short
Bybit HYPEUSDT	+0.0038%	8h	95.201	−0.080%	$321.4M	$268.5M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0070%	8h	95.202	−0.079%	$340K	$36K	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0086%	1h	95.279	+0.002%	$7.5M	$4.3M	50x	as long as short
edgeX HYPEUSDC	+0.0087%	4h	95.023	−0.266%	$5.1M	$29.4M	30x	as long as short
Lighter RH HYPEshort	+0.0096%	1h	95.209	−0.071%	$3.3M	$10.1M	20x
Popdex HYPEUSDT	+0.0096%	1h	95.084	−0.203%	$270K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.110	−0.175%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.078	−0.208%	$7.3M	$52.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.298	+0.022%	$2.11B	$648.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.218	−0.062%	$10.3M	$13.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	95.193	−0.088%	$382.5M	$862.9M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	95.189	−0.092%	$90.9M	$88.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.199	−0.082%	$48.2M	$17.7M	75x	as long as short
Backpack HYPE_USDC_PERPlong	+0.0100%	1h	95.277	long leg	$7.8M	$10.3M	20x
Variational Omni HYPE	+0.0100%	8h	95.024	−0.266%	$29.8M	$53.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.077	−0.210%	$7.7M	$40.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.052	−0.236%	$348K	$920K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.145	−0.139%	$692K	$2.8M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.128	−0.156%	$504K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.193	−0.088%	$32K	$1.4M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.249	−0.029%	$1.4M	$5.6M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.143	−0.141%	$18.4M	$40.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.150	−0.133%	$402K	$130K	20x	as long as short
Kalshi KXHYPEPERP	+0.0118%	8h	95.237	−0.042%	$1.8M	$5.1M	2.3x	as long as short
RISEx HYPE/USDC	+0.0166%	1h	95.112	−0.174%	$3.1M	$5.5M	20x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	95.045	−0.244%	$86K	$105K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0155%	1h	95.228	−0.052%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.150	−0.133%	$17.3M	$11.6M	75x	as long as short
Injective HYPE/USDC PERP	+0.0850%	1h	95.480	+0.213%	$31K	$335K	12x	as long as short