Settings8H · net · $10k
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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 22:00 UTC+0.0012%/8h= +1.3% APRnext payment +$0.01 per $10,000 · paid last 24h +0.004%
Price spread now: Backpack against SoDEX+0.027%7-day average +0.018% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$260.257% of the position
Long on SoDEXShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.023%+$2 on $10k
Price spread, last 3 days (all we have)+0.016%+$2 · spread now +0.027%, 7d avg +0.018%
Together, before fees+0.039%+$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSoDEX HYPE-USD93.3000.0088pay 0.0011% / 1h2m 57s$2.0M$2.0M10x
ShortBackpack HYPE_USDC_PERP93.3250.0100get 0.0013% / 1h2m 57s$7.9M$11.7M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against SoDEX. 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
$2.52
Price spread: +0.027% → +0.018%
$0.88
Slippage, 4 orders
−$7.75
Fee SoDEX: 4 bp × 2 orders
−$8
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$22.36
Costs to cover
0.257%
Break-even
69.2 days
Slippage from SoDEX: 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 SoDEX live order book, 1 min ago0.05 bp7.0 bp −$712.8 bp −$12898.5 bp −$9,851doesn't fit
Sell Backpack live order book, 1 min ago0.05 bp6.6 bp −$78.4 bp −$84109.0 bp −$10.9Kdoesn'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−0.0808%1h93.269−0.034%$197K$233K7xas long as short
Aftermath Perps HYPEUSD−0.0260%1h93.318+0.019%$22K$22K10xas long as short
Ondo Perps HYPE-USD.P−0.0225%1h93.180−0.129%$700K$932K10xas long as short
01 Exchange HYPEUSD−0.0080%1h93.266−0.036%$90K$360K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.238−0.066%$3K$33125xas long as short
Bullet HYPE-USD−0.0045%1h93.277−0.025%$111K$580K20xas long as short
Derive HYPE-PERP−0.0037%1h93.242−0.062%$16.4M$7.1M10xas long as short
dYdX HYPE-USD0.0000%1h93.280−0.022%$127K$32K5xas long as short
Kalshi KXHYPEPERP0.0000%8h93.370+0.075%$1.9M$5.3M2.3xas long as short
Perpl HYPE0.0000%43m93.287−0.014%$23K$334K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.325+0.026%$20K—150xas long as short
Aster HYPEUSDT+0.0010%4h93.283−0.018%$8.9M$35.7M300xas long as short
Bybit HYPEUSDT+0.0029%8h93.280−0.021%$324.9M$287.2M75xas long as short
Popdex HYPEUSDT+0.0032%1h93.243−0.061%$56K$1.2M50xas long as short
Gate HYPE_USDT+0.0032%4h93.281−0.020%$44.0M$58.0M75xas long as short
Orderly PERP_HYPE_USDC+0.0051%4h93.295−0.005%$167K$514K20xas long as short
Phoenix HYPE+0.0068%1h93.279−0.023%$215K$1.2M10xas long as short
Vest HYPE-PERP+0.0077%1h93.267−0.036%—$454K5xas long as short
SoDEX HYPE-USDlong+0.0088%1h93.300long leg$2.0M$2.0M10x
Bluefin HYPE-PERP+0.0096%1h93.297−0.003%$76K$168K20xas long as short
Lighter HYPE+0.0096%1h93.331+0.033%$18.6M$60.1M20xas long as short
Lighter RH HYPE+0.0096%1h93.318+0.019%$3.1M$12.4M20xas long as short
StandX HYPE-USD+0.0097%1h93.292−0.009%$675K$2.5M20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.262−0.040%$339K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.280−0.021%$36K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.243−0.062%$5.9M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.355+0.059%$2.03B$671.5M10xas long as short
Pacifica HYPE+0.0100%1h93.274−0.028%$10.0M$14.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.298−0.002%$384.9M$889.2M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.277−0.025%$114.7M$314.7M50xas long as short
Arcus HYPE-USD+0.0100%1h93.216−0.090%$1.2M$4.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.285−0.016%$204K$12K10xas long as short
MEXC HYPE_USDT+0.0100%4h93.299−0.001%$92.9M$82.5M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.291−0.010%$46.2M$18.8M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.305+0.005%$226.6M$102.6M75xas long as short
BingX HYPE-USDT+0.0100%4h93.285−0.016%—$54.1M—as long as short
Backpack HYPE_USDC_PERPshort+0.0100%1h93.325+0.027%$7.9M$11.7M20x
Variational Omni HYPE+0.0100%8h93.211−0.096%$29.0M$50.3M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.271−0.031%$7.5M$45.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.255−0.048%$405K$1.0M50xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.282−0.019%$492K$2.6M20xas long as short
SunX HYPE-USDT+0.0100%4h93.281−0.020%$32K$1.6M20xas long as short
Phemex HYPEUSDT+0.0100%8h93.282−0.019%$12.7M$2.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.286−0.015%$18.4M$41.7M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.316+0.018%$397K$318K20xas long as short
edgeX HYPEUSDC+0.0113%4h93.228−0.077%$5.1M$29.4M30xas long as short
Coinbase International HYPE-PERP-INTX+0.0208%1h93.320+0.021%$4.9M$5.7M50xas long as short
Reya HYPERUSDPERP+0.0246%1h93.281−0.020%$78K$158K15xas long as short
Injective HYPE/USDC PERP+0.0285%1h93.910+0.654%$31K$291K12xas long as short
HTX HYPE-USDT+0.0296%4h93.446+0.156%$1.5M$7.6M75xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0328%1h93.407+0.115%$7.4M$4.6M50xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0165%1h93.326+0.027%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.243−0.061%$17.1M$12.4M75xas long as short
RISEx HYPE/USDC+0.0467%1h93.309+0.010%$2.8M$6.8M20xas long as short
Kraken Futures PF_HYPEUSD+0.0574%1h93.448+0.158%$19.6M$26.8M50xas long as short