Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.016%
Price spread now: Backpack against BingX+0.049%7-day average +0.260% · you sell dearer than you buy
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$240.236% of the position
Funding, last 7 days+0.131%+$13 on $10k
+Price spread, last 7 days−0.103%−$10 · spread now +0.049%, 7d avg +0.260%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.211% cheaper against BingX than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +0.260%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX HYPE-USDT | 92.735 | 0.0100 | pay 0.0050% / 4h | 3h 57m | — | $53.8M | — |
| Short | Backpack HYPE_USDC_PERP | 92.780 | 0.0100 | get 0.0013% / 1h | 57m 08s | $7.3M | $11.3M | 20x |
BingX HYPE-USDT
Backpack HYPE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against BingX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $0
- Price spread: +0.049% → +0.260%
- −$21.12
- Slippage, 4 orders
- −$3.6
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$44.73
- Costs to cover
- 0.236%
- Break-even
- never at this rate
Slippage from BingX: live order book, 7 min ago; Backpack: live order book, 2 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 BingX live order book, 7 min ago | 0.16 bp | 5.2 bp −$5 | 6.2 bp −$62 | 10.3 bp −$1,027 | 14.6 bp −$7,319 |
| Sell Backpack live order book, 2 min ago | 0.05 bp | 8.2 bp −$8 | 10.1 bp −$101 | 78.3 bp −$7,825 | doesn't fit |
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 | −0.0472% | 1h | 92.744 | +0.010% | $193K | $228K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0281% | 1h | 92.823 | +0.095% | $22K | $21K | 10x | as long as short |
| Arcus HYPE-USD | −0.0194% | 1h | 92.736 | +0.001% | $1.1M | $3.9M | 10x | as long as short |
| Gate HYPE_USDT | −0.0148% | 4h | 92.727 | −0.009% | $44.4M | $53.4M | 75x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 92.807 | +0.078% | $3K | $331 | 25x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0063% | 4h | 92.702 | −0.036% | $157K | $653K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 92.772 | +0.040% | $127K | $29K | 5x | as long as short |
| Kalshi KXHYPEPERP | 0.0000% | 8h | 92.795 | +0.065% | $1.8M | $5.4M | 2.3x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 92.769 | +0.036% | $22K | $302K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0002% | 1h | 92.778 | +0.046% | $62K | — | 150x | as long as short |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Arcus HYPE-USD
Gate HYPE_USDT
Hotstuff HYPE-PERP
Orderly PERP_HYPE_USDC
dYdX HYPE-USD
Kalshi KXHYPEPERP
Perpl HYPE
gTrade (Gains Network) HYPE/USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex HYPEUSDT | +0.0040% | 8h | 92.758 | +0.025% | $12.5M | $2.7M | 50x | as long as short |
| Bybit HYPEUSDT | +0.0041% | 8h | 92.710 | −0.027% | $315.8M | $281.7M | 75x | as long as short |
| Phoenix HYPE | +0.0043% | 1h | 92.888 | +0.165% | $210K | $1.2M | 10x | as long as short |
| 01 Exchange HYPEUSD | +0.0048% | 1h | 92.792 | +0.061% | $87K | $362K | 20x | as long as short |
| Popdex HYPEUSDT | +0.0048% | 1h | 92.761 | +0.028% | $69K | $1.1M | 50x | as long as short |
| Bullet HYPE-USD | +0.0057% | 1h | 92.753 | +0.020% | $111K | $579K | 20x | as long as short |
| Aster HYPEUSDT | +0.0070% | 4h | 92.764 | +0.031% | $8.7M | $36.2M | 300x | as long as short |
| Bitget HYPEUSDT | +0.0084% | 4h | 92.720 | −0.016% | $224.4M | $98.7M | 75x | as long as short |
| edgeX HYPEUSDC | +0.0093% | 4h | 92.869 | +0.144% | $4.9M | $29.5M | 30x | as long as short |
| Paradex HYPE-USD-PERP | +0.0096% | 8h | 92.790 | +0.059% | $339K | $163K | 20x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 92.748 | +0.014% | $16.0M | $62.2M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 92.753 | +0.019% | $3.1M | $11.6M | 20x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0099% | 8h | 92.735 | 0.000% | $113.7M | $303.2M | 50x | as long as short |
| Katana Perps HYPE-USD | +0.0099% | 8h | 92.760 | +0.027% | $38K | $1.7M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 92.755 | +0.022% | $7.4M | $45.7M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 92.801 | +0.071% | $2.02B | $664.0M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 92.798 | +0.068% | $10.0M | $15.2M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 92.727 | −0.009% | $372.6M | $902.3M | 75x | as long as short |
| Ondo Perps HYPE-USD.P | +0.0100% | 1h | 92.720 | −0.016% | $698K | $1.1M | 10x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 92.800 | +0.070% | $202K | $13K | 10x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 92.734 | −0.001% | $88.0M | $79.7M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 92.767 | +0.035% | $46.1M | $18.4M | 75x | as long as short |
| BingX HYPE-USDTlong | +0.0100% | 4h | 92.735 | long leg | — | $53.8M | — | |
| Backpack HYPE_USDC_PERPshort | +0.0100% | 1h | 92.780 | +0.049% | $7.3M | $11.3M | 20x | |
| Variational Omni HYPE | +0.0100% | 8h | 92.859 | +0.133% | $28.5M | $57.4M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 92.886 | +0.163% | $7.5M | $46.2M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 92.892 | +0.169% | $350K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 92.845 | +0.119% | $667K | $2.8M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 92.833 | +0.105% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 92.791 | +0.060% | $468K | $2.6M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 92.708 | −0.029% | $78K | $168K | 20x | as long as short |
| Derive HYPE-PERP | +0.0100% | 1h | 92.714 | −0.023% | $16.1M | $7.5M | 10x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 92.756 | +0.023% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 92.728 | −0.008% | $2.0M | $2.0M | 10x | as long as short |
| HTX HYPE-USDT | +0.0100% | 4h | 92.900 | +0.178% | $1.4M | $6.3M | 75x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 92.699 | −0.039% | $18.1M | $43.5M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 92.765 | +0.032% | $392K | $164K | 20x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0144% | 1h | 92.800 | +0.070% | $4.7M | $5.5M | 50x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0197% | 1h | 92.799 | +0.069% | $20.6M | $30.4M | 50x | as long as short |
| Injective HYPE/USDC PERP | +0.0242% | 1h | 93.050 | +0.340% | $30K | $339K | 12x | as long as short |
| Reya HYPERUSDPERP | +0.0263% | 1h | 92.746 | +0.012% | $79K | $131K | 15x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0330% / S −0.0154% | 1h | 92.758 | +0.025% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 92.727 | −0.009% | $16.7M | $11.6M | 75x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0440% | 1h | 92.842 | +0.115% | $7.5M | $4.5M | 50x | as long as short |
| RISEx HYPE/USDC | +0.0598% | 1h | 92.826 | +0.098% | $3.2M | $6.4M | 20x | as long as short |
Phemex HYPEUSDT
Bybit HYPEUSDT
Phoenix HYPE
01 Exchange HYPEUSD
Popdex HYPEUSDT
Bullet HYPE-USD
Aster HYPEUSDT
Bitget HYPEUSDT
edgeX HYPEUSDC
Paradex HYPE-USD-PERP
Lighter HYPE
Lighter RH HYPE
OKX HYPE-USDT-SWAP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Binance HYPEUSDT
Ondo Perps HYPE-USD.P
Bulk HYPE-USD
MEXC HYPE_USDT
KuCoin HYPEUSDTM
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
Derive HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
HTX HYPE-USDT
Extended HYPE-USD
Aevo HYPE-PERP
Coinbase International HYPE-PERP-INTX
Kraken Futures PF_HYPEUSD
Injective HYPE/USDC PERP
Reya HYPERUSDPERP
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
Deribit HYPE_USDC-PERPETUAL
RISEx HYPE/USDC