Funding you earn now, next payment 22:00 UTC−0.0005%/8h= −0.6% APRpaid last 24h +0.007%
Price spread now: Backpack against edgeX+0.143%85s7-day average +0.269% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$200.198% of the position
Funding, last 7 days+0.047%+$5 on $10k
+Price spread, last 7 days−0.594%−$59 · spread now +0.143%, 7d avg +0.269%
=Together, before fees−0.547%+ Points / potential airdropedgeX: Active · farm board−$55 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 0.126% cheaper against edgeX than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.269%. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX HYPEUSDC | 93.554 | 0.0105 | pay 0.0053% / 4h | 2h 22m | $5.1M | $29.5M | 30x |
| Short | Backpack HYPE_USDC_PERP | 93.688 | 0.0100 | get 0.0013% / 1h | 22m 09s | $7.9M | $11.7M | 20x |
edgeX HYPEUSDC
Backpack HYPE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against edgeX. 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
- −$1.13
- Price spread: +0.143% → +0.269%
- −$12.57
- Slippage, 4 orders
- −$0.78
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$33.48
- Costs to cover
- 0.198%
- Break-even
- never at this rate
Slippage from edgeX: live order book, 2 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 edgeX live order book, 2 min ago | 0.32 bp | 4.8 bp −$5 | 5.0 bp −$50 | 74.7 bp −$7,472 | doesn't fit |
| Sell Backpack live order book, 2 min ago | 0.05 bp | 5.1 bp −$5 | 7.6 bp −$76 | 105.5 bp −$10.5K | 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 | −0.1008% | 1h | 93.647 | +0.099% | $198K | $233K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0291% | 1h | 93.660 | +0.113% | $22K | $22K | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0238% | 1h | 93.630 | +0.081% | $702K | $934K | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.679 | +0.133% | $3K | $331 | 25x | as long as short |
| 01 Exchange HYPEUSD | −0.0064% | 1h | 93.677 | +0.131% | $90K | $343K | 20x | as long as short |
| Bullet HYPE-USD | −0.0016% | 1h | 93.638 | +0.090% | $111K | $583K | 20x | as long as short |
| Derive HYPE-PERP | −0.0009% | 1h | 93.599 | +0.048% | $16.4M | $7.0M | 10x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.721 | +0.178% | $128K | $32K | 5x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.651 | +0.103% | $23K | $337K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0001% | 1h | 93.684 | +0.138% | $20K | — | 150x | as long as short |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Ondo Perps HYPE-USD.P
Hotstuff HYPE-PERP
01 Exchange HYPEUSD
Bullet HYPE-USD
Derive HYPE-PERP
dYdX HYPE-USD
Perpl HYPE
gTrade (Gains Network) HYPE/USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster HYPEUSDT | +0.0029% | 4h | 93.679 | +0.133% | $9.0M | $35.8M | 300x | as long as short |
| Gate HYPE_USDT | +0.0032% | 4h | 93.656 | +0.109% | $44.1M | $57.1M | 75x | as long as short |
| Bybit HYPEUSDT | +0.0036% | 8h | 93.650 | +0.102% | $326.1M | $287.1M | 75x | as long as short |
| Orderly PERP_HYPE_USDC | +0.0063% | 4h | 93.644 | +0.096% | $175K | $536K | 20x | as long as short |
| Popdex HYPEUSDT | +0.0064% | 1h | 93.639 | +0.091% | $57K | $1.2M | 50x | as long as short |
| Phoenix HYPE | +0.0068% | 1h | 93.742 | +0.201% | $216K | $1.2M | 10x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.707 | +0.163% | $18.6M | $59.6M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.689 | +0.144% | $3.1M | $12.4M | 20x | as long as short |
| Paradex HYPE-USD-PERP | +0.0100% | 8h | 93.687 | +0.142% | $340K | $170K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.690 | +0.145% | $40K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.638 | +0.090% | $6.0M | $44.1M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.748 | +0.207% | $2.04B | $669.8M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.680 | +0.134% | $10.0M | $14.4M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.654 | +0.107% | $386.4M | $888.5M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.635 | +0.086% | $115.0M | $316.0M | 50x | as long as short |
| Arcus HYPE-USD | +0.0100% | 1h | 93.627 | +0.078% | $1.2M | $4.0M | 10x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.651 | +0.103% | $93.7M | $82.3M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.662 | +0.115% | $46.5M | $18.7M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.668 | +0.122% | $227.4M | $102.3M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.640 | +0.092% | — | $54.2M | — | as long as short |
| Backpack HYPE_USDC_PERPshort | +0.0100% | 1h | 93.688 | +0.143% | $7.9M | $11.7M | 20x | |
| Variational Omni HYPE | +0.0100% | 8h | 93.652 | +0.104% | $29.0M | $50.0M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.613 | +0.063% | $7.5M | $45.2M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.545 | −0.010% | $406K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.752 | +0.211% | $678K | $2.4M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.698 | +0.154% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.685 | +0.140% | $495K | $2.6M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.644 | +0.096% | $76K | $168K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.704 | +0.160% | $33K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.650 | +0.102% | $2.0M | $2.0M | 10x | as long as short |
| Phemex HYPEUSDT | +0.0100% | 8h | 93.631 | +0.082% | $12.8M | $2.6M | 50x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.556 | +0.002% | $204K | $12K | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.625 | +0.076% | $18.3M | $41.2M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.656 | +0.108% | $398K | $318K | 20x | as long as short |
| edgeX HYPEUSDClong | +0.0105% | 4h | 93.554 | long leg | $5.1M | $29.5M | 30x | |
| Deribit HYPE_USDC-PERPETUAL | +0.0124% | 1h | 93.741 | +0.200% | $7.4M | $4.6M | 50x | as long as short |
| Kalshi KXHYPEPERP | +0.0132% | 8h | 93.740 | +0.198% | $1.9M | $5.3M | 2.3x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0208% | 1h | 93.700 | +0.156% | $4.9M | $5.7M | 50x | as long as short |
| Reya HYPERUSDPERP | +0.0245% | 1h | 93.639 | +0.090% | $78K | $158K | 15x | as long as short |
| Injective HYPE/USDC PERP | +0.0285% | 1h | 93.610 | +0.060% | $30K | $291K | 12x | as long as short |
| HTX HYPE-USDT | +0.0308% | 4h | 93.825 | +0.289% | $1.5M | $7.6M | 75x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0338% / S −0.0164% | 1h | 93.686 | +0.141% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.715 | +0.172% | $17.1M | $12.5M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0467% | 1h | 93.710 | +0.166% | $2.8M | $6.8M | 20x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0572% | 1h | 93.757 | +0.216% | $19.2M | $26.0M | 50x | as long as short |
Aster HYPEUSDT
Gate HYPE_USDT
Bybit HYPEUSDT
Orderly PERP_HYPE_USDC
Popdex HYPEUSDT
Phoenix HYPE
Lighter HYPE
Lighter RH HYPE
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Arcus HYPE-USD
MEXC HYPE_USDT
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Phemex HYPEUSDT
Bulk HYPE-USD
Extended HYPE-USD
Aevo HYPE-PERP
Deribit HYPE_USDC-PERPETUAL
Kalshi KXHYPEPERP
Coinbase International HYPE-PERP-INTX
Reya HYPERUSDPERP
Injective HYPE/USDC PERP
HTX HYPE-USDT
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
RISEx HYPE/USDC
Kraken Futures PF_HYPEUSD