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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.003%
Price spread now: Backpack against Extended−0.072%7-day average +0.280% · you buy dearer than you sell
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$54as in the Price arb table
costs, in and out, $10k−$190.187% of the position
Long on ExtendedShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days+0.030%+$3 on $10k
Price spread, last 7 days−0.493%−$49 · spread now −0.072%, 7d avg +0.280%
Together, before fees−0.463%+ Points / potential airdropExtended: Active · farm board−$46 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 0.351% cheaper against Extended than usual: you would sell low and buy high, −$35 on $10k if it goes back to its 7-day average of +0.280%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended HYPE-USD93.8740.0104pay 0.0013% / 1h8m 12s$18.4M$45.1M50x
ShortBackpack HYPE_USDC_PERP93.8070.0100get 0.0013% / 1h8m 12s$7.9M$10.6M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Extended. 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
−$0.84
Price spread: −0.072% → +0.280%
−$35.14
Slippage, 4 orders
−$3.66
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$54.63
Costs to cover
0.187%
Break-even
never at this rate
Slippage from Extended: live order book, 6 min ago; Backpack: live order book, 6 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 Extended live order book, 6 min ago0.05 bp5.0 bp −$57.9 bp −$7930.2 bp −$3,023doesn't fit
Sell Backpack live order book, 6 min ago0.05 bp5.1 bp −$58.4 bp −$84550.3 bp −$55.0Kdoesn'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
Hibachi HYPE/USDT-P−0.1152%1h93.929+0.058%$199K$228K7xas long as short
Arcus HYPE-USD−0.0625%1h93.778−0.103%$1.2M$3.9M10xas long as short
Aftermath Perps HYPEUSD−0.0208%1h93.964+0.095%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0099%1h93.860−0.015%$710K$958K10xas long as short
dYdX HYPE-USD−0.0087%1h93.911+0.039%$129K$31K5xas long as short
01 Exchange HYPEUSD−0.0080%1h93.900+0.027%$86K$359K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.953+0.084%$3K$33125xas long as short
Phemex HYPEUSDT−0.0051%8h93.922+0.051%$12.8M$2.6M50xas long as short
Bullet HYPE-USD−0.0047%1h93.896+0.023%$113K$580K20xas long as short
Orderly PERP_HYPE_USDC−0.0031%4h93.868−0.007%$159K$643K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate HYPE_USDT−0.0020%4h93.859−0.016%$44.4M$60.3M75xas long as short
Perpl HYPE0.0000%43m93.935+0.065%$23K$327K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.921+0.050%$27K—150xas long as short
Aster HYPEUSDT+0.0012%4h93.886+0.012%$8.9M$36.0M300xas long as short
Derive HYPE-PERP+0.0015%1h93.844−0.032%$16.4M$7.6M10xas long as short
Bybit HYPEUSDT+0.0016%8h93.860−0.015%$323.1M$279.6M75xas long as short
Phoenix HYPE+0.0034%1h94.071+0.209%$218K$1.2M10xas long as short
MEXC HYPE_USDT+0.0052%4h93.870−0.005%$88.3M$83.3M100xas long as short
Binance HYPEUSDT+0.0056%4h93.8740.000%$383.2M$893.9M75xas long as short
edgeX HYPEUSDC+0.0065%4h93.937+0.067%$5.1M$29.6M30xas long as short
OKX HYPE-USDT-SWAP+0.0073%8h93.866−0.009%$116.0M$314.9M50xas long as short
Bluefin HYPE-PERP+0.0095%1h93.845−0.031%$76K$170K20xas long as short
Lighter HYPE+0.0096%1h93.907+0.035%$18.9M$60.7M20xas long as short
Lighter RH HYPE+0.0096%1h93.908+0.036%$3.0M$12.2M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.896+0.023%$64K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.874−0.001%$399K$180K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.928+0.058%$341K$165K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.890+0.017%$31K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.891+0.017%$6.6M$44.6M10xas long as short
Hyperliquid HYPE+0.0100%1h93.943+0.073%$2.05B$668.4M10xas long as short
Pacifica HYPE+0.0100%1h93.912+0.040%$10.1M$14.7M20xas long as short
Bulk HYPE-USD+0.0100%1h93.528−0.369%$204K$12K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.912+0.040%$46.6M$18.3M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.888+0.015%$227.3M$100.2M75xas long as short
BingX HYPE-USDT+0.0100%4h93.868−0.007%—$53.9M—as long as short
Backpack HYPE_USDC_PERPshort+0.0100%1h93.807−0.072%$7.9M$10.6M20x
Variational Omni HYPE+0.0100%8h93.920+0.048%$31.4M$53.7M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h94.053+0.190%$7.6M$46.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.946+0.076%$340K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h94.033+0.169%$671K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.947+0.077%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.931+0.060%$474K$2.5M20xas long as short
SunX HYPE-USDT+0.0100%4h93.936+0.066%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.892+0.019%$2.0M$2.0M10xas long as short
Extended HYPE-USDlong+0.0104%1h93.874long leg$18.4M$45.1M50x
Coinbase International HYPE-PERP-INTX+0.0144%1h93.900+0.027%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0205%1h94.490+0.656%$31K$338K12xas long as short
BloFin HYPE-USDT+0.0212%4h94.058+0.196%$17.1M$12.1M75xas long as short
RISEx HYPE/USDC+0.0222%1h93.927+0.056%$2.7M$6.7M20xas long as short
Kalshi KXHYPEPERP+0.0241%8h93.988+0.121%$1.9M$5.1M2.3xas long as short
Reya HYPERUSDPERP+0.0252%1h93.904+0.032%$79K$143K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0335% / S −0.0156%1h93.913+0.041%$1.4M—100xas long as short
HTX HYPE-USDT+0.0367%4h94.100+0.240%$1.5M$5.9M75xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0463%1h93.987+0.120%$7.5M$4.6M50xas long as short
Kraken Futures PF_HYPEUSD+0.0672%1h93.973+0.105%$21.0M$29.8M50xas long as short