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 02:00 UTC+0.0109%/8h= +12.0% APRnext payment +$0.14 per $10,000 · paid last 24h −0.014%
Price spread now: Bullet against Backpack+0.025%7-day average +0.007% · 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−$22as in the Price arb table
costs, in and out, $10k−$240.237% of the position
Long on BackpackShort on Bullet
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.036%−$4 on $10k
Price spread, last 4 days (all we have)+1.117%+$112 · spread now +0.025%, 7d avg +0.007%
Together, before fees+1.082%+$108 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.007%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack HYPE_USDC_PERP93.796−0.0035get 0.0004% / 1h22m 47s$7.8M$10.3M20x
ShortBullet HYPE-USD93.8190.0074get 0.0009% / 1h22m 47s$112K$577K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet against Backpack. 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
$22.98
Price spread: +0.025% → +0.007%
$1.73
Slippage, 4 orders
−$5.75
Fee Backpack: 5 bp × 2 orders
−$10
Fee Bullet: 4 bp × 2 orders
−$8
Net
$0.96
Costs to cover
0.237%
Break-even
6.7 days
Slippage from Backpack: live order book, 1 min ago; Bullet: live order book, 46 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 Backpack live order book, 1 min ago0.05 bp5.1 bp −$56.4 bp −$6448.5 bp −$4,853doesn't fit
Sell Bullet live order book, 46 min ago0.64 bp7.2 bp −$710.6 bp −$106doesn't fitdoesn't fit

HYPE on 54 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−0.1000%1h93.698−0.104%$197K$229K7xas long as short
Arcus HYPE-USD−0.0786%1h93.729−0.071%$1.2M$3.8M10xas long as short
Phemex HYPEUSDT−0.0138%8h93.853+0.061%$12.7M$2.7M50xas long as short
Aftermath Perps HYPEUSD−0.0129%1h93.810+0.015%$22K$21K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.875+0.084%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0078%1h93.850+0.058%$703K$924K10xas long as short
Orderly PERP_HYPE_USDC−0.0056%4h93.787−0.010%$156K$646K20xas long as short
01 Exchange HYPEUSD−0.0048%1h93.844+0.051%$85K$350K20xas long as short
Backpack HYPE_USDC_PERPlong−0.0035%1h93.796long leg$7.8M$10.3M20x
Gate HYPE_USDT−0.0030%4h93.889+0.099%$44.5M$55.1M75xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX HYPE-USDT−0.0002%4h93.899+0.110%—$53.6M—as long as short
Aster HYPEUSDT−0.0002%4h93.891+0.101%$8.9M$35.8M300xas long as short
dYdX HYPE-USD0.0000%1h93.844+0.051%$129K$31K5xas long as short
Perpl HYPE0.0000%43m93.859+0.067%$22K$326K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.822+0.027%$26K—150xas long as short
Bybit HYPEUSDT+0.0003%8h93.881+0.091%$322.4M$281.1M75xas long as short
Phoenix HYPE+0.0060%1h93.922+0.134%$213K$1.2M10xas long as short
MEXC HYPE_USDT+0.0068%4h93.910+0.122%$87.9M$82.9M100xas long as short
Binance HYPEUSDT+0.0069%4h93.887+0.097%$382.1M$892.3M75xas long as short
OKX HYPE-USDT-SWAP+0.0069%8h93.893+0.103%$115.4M$308.5M50xas long as short
Bullet HYPE-USDshort+0.0074%1h93.819+0.025%$112K$577K20x
edgeX HYPEUSDC+0.0079%4h93.907+0.118%$5.1M$29.9M30xas long as short
Paradex HYPE-USD-PERP+0.0095%8h93.897+0.108%$341K$164K20xas long as short
Lighter HYPE+0.0096%1h93.912+0.124%$16.4M$62.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.909+0.120%$3.1M$11.9M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.836+0.043%$67K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.812+0.018%$399K$175K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.860+0.068%$21K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.876+0.086%$5.8M$44.8M10xas long as short
Hyperliquid HYPE+0.0100%1h93.987+0.204%$2.05B$665.6M10xas long as short
Pacifica HYPE+0.0100%1h93.887+0.097%$10.1M$14.7M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.908+0.119%$46.5M$18.0M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.906+0.117%$227.5M$98.5M75xas long as short
Variational Omni HYPE+0.0100%8h93.910+0.121%$31.1M$54.7M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.947+0.161%$7.6M$47.2M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.891+0.101%$339K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.836+0.043%$670K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.901+0.112%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.868+0.077%$474K$2.4M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.774−0.023%$79K$171K20xas long as short
Derive HYPE-PERP+0.0100%1h93.787−0.010%$16.3M$7.7M10xas long as short
SunX HYPE-USDT+0.0100%4h93.947+0.161%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.798+0.002%$2.0M$1.9M10xas long as short
Bulk HYPE-USD+0.0100%1h93.880+0.090%$204K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.889+0.099%$18.3M$44.2M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.920+0.132%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.800+0.004%$30K$339K12xas long as short
HTX HYPE-USDT+0.0205%4h93.976+0.192%$1.4M$5.9M75xas long as short
RISEx HYPE/USDC+0.0210%1h93.910+0.122%$3.2M$7.0M20xas long as short
Reya HYPERUSDPERP+0.0255%1h93.820+0.026%$80K$140K15xas long as short
Kalshi KXHYPEPERP+0.0276%8h93.905+0.116%$1.9M$4.9M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0156%1h93.836+0.043%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0389%1h93.897+0.108%$7.5M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0679%1h93.902+0.113%$21.0M$29.8M50xas long as short