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

HYPE

all HYPE markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%
Price spread now: Backpack against Bluefin−0.056%7-day average +0.022% · you buy dearer than you sell
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$360.359% of the position
Long on BluefinShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days+0.161%+$16 on $10k
Price spread, last 3 days (all we have)+0.103%+$10 · spread now −0.056%, 7d avg +0.022%
Together, before fees+0.263%+$26 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: Backpack is 0.078% cheaper against Bluefin than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.022%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBluefin HYPE-PERP93.2600.0100pay 0.0013% / 1h17m 46s$76K$167K20x
ShortBackpack HYPE_USDC_PERP93.2080.0100get 0.0013% / 1h17m 46s$7.8M$10.9M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Bluefin. 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

Funding earned
$0
Price spread: −0.056% → +0.022%
−$7.8
Slippage, 4 orders
−$18.91
Fee Bluefin: 3.5 bp × 2 orders
−$7
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$43.71
Costs to cover
0.359%
Break-even
never at this rate
Slippage from Bluefin: live order book, 1 min ago; Backpack: live order book, 1 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 Bluefin live order book, 1 min ago2.73 bp13.2 bp −$13doesn't fitdoesn't fitdoesn't fit
Sell Backpack live order book, 1 min ago0.05 bp5.6 bp −$67.3 bp −$7365.7 bp −$6,567doesn'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
Aftermath Perps HYPEUSD−0.0438%1h93.164−0.103%$22K$22K10xas long as short
Hibachi HYPE/USDT-P−0.0336%1h93.229−0.033%$197K$230K7xas long as short
Arcus HYPE-USD−0.0131%1h93.190−0.075%$1.2M$4.0M10xas long as short
Ondo Perps HYPE-USD.P−0.0125%1h93.170−0.097%$699K$929K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.245−0.016%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0032%1h93.288+0.030%$90K$361K20xas long as short
Popdex HYPEUSDT−0.0008%1h93.257−0.003%$58K$1.2M50xas long as short
dYdX HYPE-USD0.0000%1h93.276+0.017%$127K$32K5xas long as short
Perpl HYPE0.0000%43m93.250−0.010%$23K$331K10xas long as short
Aster HYPEUSDT+0.0002%4h93.223−0.040%$8.8M$35.9M300xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.289+0.031%$20K—150xas long as short
Orderly PERP_HYPE_USDC+0.0021%4h93.264+0.004%$172K$518K20xas long as short
Bybit HYPEUSDT+0.0021%8h93.190−0.075%$322.8M$286.8M75xas long as short
Phoenix HYPE+0.0034%1h93.293+0.035%$214K$1.2M10xas long as short
Bullet HYPE-USD+0.0040%1h93.247−0.014%$112K$579K20xas long as short
Derive HYPE-PERP+0.0047%1h93.208−0.056%$16.3M$7.0M10xas long as short
Gate HYPE_USDT+0.0056%4h93.195−0.070%$43.9M$58.6M75xas long as short
MEXC HYPE_USDT+0.0064%4h93.207−0.057%$90.1M$82.3M100xas long as short
Binance HYPEUSDT+0.0066%4h93.211−0.053%$381.6M$895.1M75xas long as short
edgeX HYPEUSDC+0.0079%4h93.210−0.054%$5.1M$29.7M30xas long as short
Lighter HYPE+0.0096%1h93.264+0.005%$18.6M$59.0M20xas long as short
Lighter RH HYPE+0.0096%1h93.246−0.015%$3.1M$12.2M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.263+0.003%$397K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0098%8h93.215−0.048%$339K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.230−0.032%$35K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.245−0.016%$5.9M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.257−0.003%$2.03B$669.4M10xas long as short
Pacifica HYPE+0.0100%1h93.231−0.031%$10.0M$14.4M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.190−0.075%$114.2M$314.7M50xas long as short
Bulk HYPE-USD+0.0100%1h93.232−0.030%$204K$8K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.196−0.069%$47.0M$18.8M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.218−0.045%$226.1M$103.1M75xas long as short
BingX HYPE-USDT+0.0100%4h93.200−0.064%—$53.8M—as long as short
Backpack HYPE_USDC_PERPshort+0.0100%1h93.208−0.056%$7.8M$10.9M20x
Variational Omni HYPE+0.0100%8h93.153−0.114%$29.0M$50.6M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.258−0.002%$7.5M$46.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.262+0.002%$415K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.227−0.035%$674K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.279+0.020%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.282+0.024%$493K$2.5M20xas long as short
Bluefin HYPE-PERPlong+0.0100%1h93.260long leg$76K$167K20x
SunX HYPE-USDT+0.0100%4h93.271+0.012%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.263+0.003%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.225−0.038%$12.7M$2.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.160−0.107%$18.2M$41.9M50xas long as short
Kalshi KXHYPEPERP+0.0115%8h93.316+0.060%$1.9M$5.3M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.300+0.043%$4.9M$5.7M50xas long as short
HTX HYPE-USDT+0.0238%4h93.400+0.150%$1.5M$7.7M75xas long as short
Injective HYPE/USDC PERP+0.0239%1h93.120−0.150%$30K$338K12xas long as short
Reya HYPERUSDPERP+0.0247%1h93.250−0.011%$77K$159K15xas long as short
BloFin HYPE-USDT+0.0268%4h93.242−0.019%$16.8M$12.5M75xas long as short
RISEx HYPE/USDC+0.0280%1h93.290+0.032%$2.7M$6.8M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0165%1h93.280+0.022%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0393%1h93.355+0.102%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSD+0.0465%1h93.367+0.114%$20.9M$29.0M50xas long as short