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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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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 22:00 UTC+0.0038%/8h= +4.1% APRpaid last 24h +0.047%
Price spread now: Backpack against Orderly+0.031%7-day average +0.022% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on OrderlyShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days+0.234%+$23 on $10k
Price spread, last 3 days (all we have)−0.024%−$2 · spread now +0.031%, 7d avg +0.022%
Together, before fees+0.210%+$21 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.022%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOrderly PERP_HYPE_USDC93.6190.0062pay 0.0031% / 4h2h 21m$175K$536K20x
ShortBackpack HYPE_USDC_PERP93.6480.0100get 0.0013% / 1h21m 01s$7.9M$11.7M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Orderly. 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
$7.94
Price spread: +0.031% → +0.022%
$0.88
Slippage, 4 orders
no order book: not counted
Fee Orderly: 3 bp × 2 orders
−$6
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$7.18
Costs to cover
0.160%
Break-even
13.3 days
Slippage unknown: Orderly: no order-book sample; Backpack: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Orderly no order-book sample—————
Sell Backpack live order book, 3 min ago0.05 bp5.1 bp −$57.6 bp −$76105.5 bp −$10.5Kdoesn't fit
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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−0.1008%1h93.647+0.029%$198K$233K7xas long as short
Aftermath Perps HYPEUSD−0.0288%1h93.668+0.053%$22K$22K10xas long as short
Ondo Perps HYPE-USD.P−0.0238%1h93.580−0.042%$703K$934K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.679+0.064%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0064%1h93.689+0.075%$90K$343K20xas long as short
Derive HYPE-PERP−0.0021%1h93.590−0.031%$16.4M$7.0M10xas long as short
Bullet HYPE-USD−0.0020%1h93.621+0.002%$112K$583K20xas long as short
dYdX HYPE-USD0.0000%1h93.721+0.109%$128K$32K5xas long as short
Perpl HYPE0.0000%43m93.661+0.045%$23K$337K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.670+0.054%$20K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0027%4h93.639+0.021%$9.0M$35.8M300xas long as short
Gate HYPE_USDT+0.0030%4h93.623+0.004%$44.1M$57.1M75xas long as short
Bybit HYPEUSDT+0.0036%8h93.610−0.010%$326.0M$287.1M75xas long as short
Orderly PERP_HYPE_USDClong+0.0062%4h93.619long leg$175K$536K20x
Popdex HYPEUSDT+0.0064%1h93.665+0.049%$57K$1.2M50xas long as short
Phoenix HYPE+0.0068%1h93.733+0.122%$216K$1.2M10xas long as short
Lighter HYPE+0.0096%1h93.665+0.049%$18.6M$59.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.664+0.048%$3.1M$12.4M20xas long as short
Paradex HYPE-USD-PERP+0.0100%8h93.682+0.068%$340K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.710+0.097%$40K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.665+0.049%$6.0M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.732+0.121%$2.04B$670.1M10xas long as short
Pacifica HYPE+0.0100%1h93.690+0.076%$10.0M$14.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.614−0.005%$386.2M$889.2M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.605−0.015%$115.0M$316.0M50xas long as short
Arcus HYPE-USD+0.0100%1h93.647+0.030%$1.2M$4.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.690+0.075%$205K$12K10xas long as short
MEXC HYPE_USDT+0.0100%4h93.608−0.012%$93.7M$82.3M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.625+0.006%$46.5M$18.7M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.625+0.006%$227.4M$102.4M75xas long as short
BingX HYPE-USDT+0.0100%4h93.621+0.002%—$54.2M—as long as short
Backpack HYPE_USDC_PERPshort+0.0100%1h93.648+0.031%$7.9M$11.7M20x
Variational Omni HYPE+0.0100%8h93.652+0.035%$29.0M$50.0M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.753+0.143%$7.5M$45.3M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.664+0.048%$407K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.704+0.091%$677K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.715+0.102%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.712+0.099%$495K$2.6M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.644+0.027%$76K$168K20xas long as short
SunX HYPE-USDT+0.0100%4h93.744+0.134%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.621+0.002%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.675+0.060%$12.8M$2.6M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0102%1h93.730+0.119%$7.4M$4.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.594−0.027%$18.3M$41.2M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.644+0.027%$398K$318K20xas long as short
edgeX HYPEUSDC+0.0106%4h93.684+0.069%$5.1M$29.7M30xas long as short
Kalshi KXHYPEPERP+0.0128%8h93.747+0.137%$1.9M$5.3M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0208%1h93.700+0.087%$4.9M$5.7M50xas long as short
Reya HYPERUSDPERP+0.0245%1h93.6190.000%$78K$158K15xas long as short
Injective HYPE/USDC PERP+0.0285%1h93.600−0.020%$30K$291K12xas long as short
HTX HYPE-USDT+0.0306%4h93.825+0.220%$1.5M$7.6M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0338% / S −0.0164%1h93.682+0.067%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.613−0.006%$17.0M$12.5M75xas long as short
RISEx HYPE/USDC+0.0467%1h93.731+0.120%$2.8M$6.8M20xas long as short
Kraken Futures PF_HYPEUSD+0.0572%1h93.757+0.147%$19.2M$26.0M50xas long as short