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 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%
Price spread now: Backpack against SunX−0.024%49s7-day average −0.048% · you buy dearer than you sell
Net, funding: paid 7d − costs−$133as 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−$1381.378% of the position
Long on SunXShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days+0.044%+$4 on $10k
Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.024%, 7d avg −0.048%
Together, before fees+0.055%+$6 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 0.024% dearer against SunX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.048%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSunX HYPE-USDT93.3990.0100pay 0.0050% / 4h1h 35m$32K$1.6M20x
ShortBackpack HYPE_USDC_PERP93.3770.0100get 0.0013% / 1h35m 23s$7.4M$10.3M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against SunX. 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: −0.024% → −0.048%
$2.41
Slippage, 4 orders
−$119.8
Fee SunX: 4 bp × 2 orders
−$8
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$135.4
Costs to cover
1.378%
Break-even
never at this rate
Slippage from SunX: live order book, 10 min ago; Backpack: live order book, 4 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 SunX live order book, 10 min ago54.37 bp59.1 bp −$59doesn't fitdoesn't fitdoesn't fit
Sell Backpack live order book, 4 min ago0.05 bp5.1 bp −$56.8 bp −$6898.2 bp −$9,820doesn'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−0.1296%1h93.292−0.115%$196K$226K7xas long as short
Arcus HYPE-USD−0.0899%1h93.240−0.170%$1.2M$3.8M10xas long as short
Ondo Perps HYPE-USD.P−0.0099%1h93.300−0.106%$699K$982K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.355−0.047%$3K$33125xas long as short
Phemex HYPEUSDT−0.0062%8h93.367−0.034%$12.6M$2.7M50xas long as short
01 Exchange HYPEUSD−0.0056%1h93.384−0.016%$85K$344K20xas long as short
Aftermath Perps HYPEUSD−0.0055%1h93.379−0.022%$22K$21K10xas long as short
Orderly PERP_HYPE_USDC−0.0044%4h93.361−0.041%$154K$640K20xas long as short
Bullet HYPE-USD−0.0007%1h93.398−0.001%$112K$577K20xas long as short
dYdX HYPE-USD0.0000%1h93.361−0.041%$128K$31K5xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl HYPE0.0000%43m93.408+0.010%$23K$322K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.413+0.015%$62K—150xas long as short
Aster HYPEUSDT+0.0020%4h93.375−0.026%$8.8M$35.5M300xas long as short
Phoenix HYPE+0.0026%1h93.393−0.006%$213K$1.2M10xas long as short
BingX HYPE-USDT+0.0026%4h93.387−0.013%—$53.0M—as long as short
Bybit HYPEUSDT+0.0030%8h93.381−0.019%$321.3M$277.1M75xas long as short
Gate HYPE_USDT+0.0052%4h93.392−0.007%$44.6M$54.8M75xas long as short
OKX HYPE-USDT-SWAP+0.0078%8h93.390−0.010%$114.1M$302.0M50xas long as short
Lighter HYPE+0.0096%1h93.376−0.025%$16.3M$61.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.397−0.002%$3.1M$11.6M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.377−0.024%$69K$1.2M50xas long as short
MEXC HYPE_USDT+0.0096%4h93.387−0.013%$89.9M$80.7M100xas long as short
Paradex HYPE-USD-PERP+0.0097%8h93.391−0.009%$339K$162K20xas long as short
Binance HYPEUSDT+0.0098%4h93.397−0.002%$378.8M$876.2M75xas long as short
Katana Perps HYPE-USD+0.0100%8h93.380−0.020%$17K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.377−0.023%$5.8M$43.3M10xas long as short
Hyperliquid HYPE+0.0100%1h93.459+0.064%$2.04B$653.5M10xas long as short
Pacifica HYPE+0.0100%1h93.382−0.018%$10.0M$14.6M20xas long as short
Bulk HYPE-USD+0.0100%1h93.364−0.037%$203K$10K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.405+0.006%$45.9M$18.1M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.398−0.001%$225.8M$96.6M75xas long as short
Backpack HYPE_USDC_PERPshort+0.0100%1h93.377−0.024%$7.4M$10.3M20x
Variational Omni HYPE+0.0100%8h93.367−0.034%$31.1M$53.9M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.365−0.037%$7.5M$45.5M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.333−0.071%$339K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.388−0.012%$666K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.432+0.036%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.425+0.028%$472K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.371−0.030%$79K$170K20xas long as short
Derive HYPE-PERP+0.0100%1h93.373−0.028%$16.2M$7.5M10xas long as short
SunX HYPE-USDTlong+0.0100%4h93.399long leg$32K$1.6M20x
SoDEX HYPE-USD+0.0100%1h93.401+0.002%$2.0M$1.9M10xas long as short
Extended HYPE-USD+0.0104%1h93.329−0.075%$18.4M$43.6M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.389−0.011%$397K$162K20xas long as short
edgeX HYPEUSDC+0.0110%4h93.315−0.090%$5.1M$29.7M30xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.420+0.022%$4.8M$5.6M50xas long as short
HTX HYPE-USDT+0.0194%4h93.546+0.157%$1.4M$6.0M75xas long as short
Reya HYPERUSDPERP+0.0258%1h93.384−0.016%$79K$140K15xas long as short
Kalshi KXHYPEPERP+0.0277%8h93.458+0.063%$1.9M$5.0M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0331% / S −0.0156%1h93.426+0.029%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0336%4h93.364−0.037%$17.0M$11.6M75xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0360%1h93.481+0.088%$7.5M$4.4M50xas long as short
RISEx HYPE/USDC+0.0510%1h93.461+0.066%$3.2M$6.3M20xas long as short
Injective HYPE/USDC PERP+0.0519%1h93.220−0.192%$30K$339K12xas long as short
Kraken Futures PF_HYPEUSD+0.0685%1h93.444+0.048%$20.8M$29.9M50xas long as short