HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0098%/8h= −10.7% APRnext payment −$0.12 per $10,000 · paid last 24h −0.032%

Price spread now: gTrade (Gains Network) against Backpack+0.028%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.028% dearer against Backpack than usual: you sell high and buy low (spread +0.028% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack HYPE_USDC_PERP	92.920	0.0100	pay 0.0013% / 1h	49m 23s	$7.3M	$11.3M	20x
Short	gTrade (Gains Network) HYPE/USD	92.946	L +0.0002% / S −0.0002%	get 0.0000% / 1h	49m 23s	$62K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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

Position, each leg$Hold fordaysFee BackpackbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.028%Rate

Funding earned: −$20.54
Price spread: +0.028% → 0.000%: $2.78
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$37.76
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 5 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Backpack live order book, 5 min ago	0.05 bp	5.1 bp −$5	9.1 bp −$91	232.3 bp −$23.2K	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-P	−0.0728%	1h	92.719	−0.216%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0266%	1h	92.898	−0.023%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.880	−0.043%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.925	+0.005%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0062%	4h	92.871	−0.053%	$157K	$660K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.948	+0.030%	$127K	$29K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	92.993	+0.079%	$1.8M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	92.933	+0.014%	$22K	$301K	10x	as long as short
gTrade (Gains Network) HYPE/USDshort	L +0.0002% / S −0.0002%	1h	92.946	+0.028%	$62K	—	150x
Phoenix HYPE	+0.0026%	1h	93.032	+0.121%	$210K	$1.2M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	+0.0028%	1h	92.910	−0.011%	$699K	$1.1M	10x	as long as short
Bybit HYPEUSDT	+0.0035%	8h	92.901	−0.020%	$316.3M	$282.3M	75x	as long as short
Phemex HYPEUSDT	+0.0043%	8h	92.906	−0.015%	$12.5M	$2.7M	50x	as long as short
Gate HYPE_USDT	+0.0046%	4h	92.911	−0.010%	$44.7M	$53.7M	75x	as long as short
01 Exchange HYPEUSD	+0.0056%	1h	92.949	+0.031%	$87K	$362K	20x	as long as short
Bitget HYPEUSDT	+0.0078%	4h	92.906	−0.015%	$225.1M	$99.0M	75x	as long as short
edgeX HYPEUSDC	+0.0086%	4h	92.935	+0.016%	$4.9M	$29.6M	30x	as long as short
Aster HYPEUSDT	+0.0087%	4h	92.916	−0.005%	$8.7M	$36.2M	300x	as long as short
Popdex HYPEUSDT	+0.0088%	1h	92.914	−0.006%	$69K	$1.1M	50x	as long as short
Bullet HYPE-USD	+0.0093%	1h	92.908	−0.013%	$112K	$578K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.929	+0.010%	$16.1M	$62.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.930	+0.011%	$3.1M	$11.6M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	92.932	+0.013%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.880	−0.043%	$39K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.912	−0.008%	$7.5M	$45.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.966	+0.050%	$2.03B	$665.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.938	+0.019%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.919	−0.001%	$373.7M	$904.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.921	+0.001%	$113.9M	$304.7M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.942	+0.023%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.913	−0.008%	$87.6M	$79.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.925	+0.005%	$46.1M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.912	−0.009%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERPlong	+0.0100%	1h	92.920	long leg	$7.3M	$11.3M	20x
Variational Omni HYPE	+0.0100%	8h	92.989	+0.074%	$28.6M	$57.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.015	+0.102%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.928	+0.009%	$351K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.919	−0.001%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.974	+0.058%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.950	+0.032%	$468K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.914	−0.006%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.897	−0.025%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.901	−0.020%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.909	−0.012%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.877	−0.046%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.907	−0.014%	$393K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.940	+0.022%	$4.7M	$5.6M	50x	as long as short
HTX HYPE-USDT	+0.0163%	4h	93.082	+0.174%	$1.4M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.987	+0.073%	$20.6M	$30.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.150	+0.248%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0264%	1h	92.910	−0.011%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.928	+0.008%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.981	+0.066%	$16.7M	$11.7M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0396%	1h	92.998	+0.084%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.981	+0.066%	$3.1M	$6.4M	20x	as long as short