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 06:00 UTC+0.0427%/8h= +46.7% APRnext payment +$0.53 per $10,000 · paid last 24h +0.052%
Price spread now: RISEx against Backpack+0.018%7-day average −0.270% · 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+$5as in the Price arb table
costs, in and out, $10k−$240.243% of the position
Long on BackpackShort on RISEx
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.113%+$11 on $10k
Price spread, last 7 days+0.215%+$21 · spread now +0.018%, 7d avg −0.270%
Together, before fees+0.327%+$33 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and RISEx is 0.288% dearer against Backpack than usual: you sell high and buy low: +$29 more if the spread goes back to its 7-day average of −0.270%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.113% in total (about 11.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.53 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack HYPE_USDC_PERP93.2480.0100pay 0.0013% / 1h31m 17s$7.3M$10.6M20x
ShortRISEx HYPE/USDC93.2650.0527get 0.0066% / 1h31m 17s$3.2M$6.3M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

RISEx against Backpack. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$89.57
Price spread: +0.018% → −0.270%
$28.84
Slippage, 4 orders
−$8.3
Fee Backpack: 5 bp × 2 orders
−$10
Fee RISEx: 3 bp × 2 orders
−$6
Net
$94.11
Costs to cover
0.243%
Break-even
from the start
Slippage from Backpack: live order book, 3 min ago; RISEx: live order book, 3 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, 3 min ago0.05 bp5.1 bp −$55.9 bp −$59140.4 bp −$14.0Kdoesn't fit
Sell RISEx live order book, 3 min ago0.59 bp5.0 bp −$58.5 bp −$85doesn't fitdoesn'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−0.1568%1h93.135−0.121%$196K$234K7xas long as short
Aftermath Perps HYPEUSD−0.0359%1h93.298+0.054%$22K$21K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.195−0.057%$3K$33125xas long as short
Bullet HYPE-USD−0.0061%1h93.174−0.080%$110K$578K20xas long as short
Orderly PERP_HYPE_USDC−0.0023%4h93.157−0.098%$146K$662K20xas long as short
01 Exchange HYPEUSD−0.0016%1h93.225−0.025%$87K$366K20xas long as short
dYdX HYPE-USD0.0000%1h93.219−0.031%$128K$29K5xas long as short
Perpl HYPE0.0000%43m93.203−0.049%$22K$290K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.207−0.044%$62K—150xas long as short
Arcus HYPE-USD+0.0011%1h93.166−0.088%$1.0M$4.0M10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget HYPEUSDT+0.0016%4h93.148−0.107%$225.2M$99.0M75xas long as short
Bybit HYPEUSDT+0.0020%8h93.157−0.098%$316.5M$282.9M75xas long as short
Ondo Perps HYPE-USD.P+0.0024%1h93.150−0.105%$702K$1.2M10xas long as short
Phoenix HYPE+0.0026%1h93.263+0.016%$207K$1.2M10xas long as short
Phemex HYPEUSDT+0.0054%8h93.201−0.050%$12.6M$2.7M50xas long as short
edgeX HYPEUSDC+0.0088%4h93.175−0.078%$5.0M$30.0M30xas long as short
Paradex HYPE-USD-PERP+0.0094%8h93.223−0.027%$339K$162K20xas long as short
Lighter HYPE+0.0096%1h93.199−0.052%$16.1M$63.1M20xas long as short
Lighter RH HYPE+0.0096%1h93.195−0.057%$3.1M$11.5M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.189−0.063%$75K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h93.160−0.094%$28K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.207−0.045%$8.0M$48.4M10xas long as short
Hyperliquid HYPE+0.0100%1h93.251+0.003%$2.03B$668.9M10xas long as short
Aster HYPEUSDT+0.0100%4h93.197−0.055%$8.7M$36.4M300xas long as short
Pacifica HYPE+0.0100%1h93.229−0.020%$10.0M$15.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.173−0.080%$373.3M$912.8M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.150−0.105%$114.2M$309.2M50xas long as short
Bulk HYPE-USD+0.0100%1h93.230−0.019%$215K$15K10xas long as short
Gate HYPE_USDT+0.0100%4h93.172−0.082%$46.7M$54.3M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.178−0.075%$90.9M$81.1M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.196−0.056%$46.0M$18.9M75xas long as short
BingX HYPE-USDT+0.0100%4h93.178−0.075%—$53.9M—as long as short
Backpack HYPE_USDC_PERPlong+0.0100%1h93.248long leg$7.3M$10.6M20x
Variational Omni HYPE+0.0100%8h93.351+0.110%$28.6M$56.3M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.218−0.032%$7.5M$47.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.165−0.089%$342K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.230−0.019%$667K$2.8M20xas long as short
Vest HYPE-PERP+0.0100%1h93.260+0.013%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.206−0.045%$483K$2.7M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.169−0.085%$79K$166K20xas long as short
Derive HYPE-PERP+0.0100%1h93.154−0.101%$16.1M$7.4M10xas long as short
SunX HYPE-USDT+0.0100%4h93.210−0.041%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.162−0.092%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h93.329+0.087%$1.4M$6.5M75xas long as short
Extended HYPE-USD+0.0104%1h93.130−0.127%$18.1M$43.3M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.178−0.075%$394K$158K20xas long as short
Kalshi KXHYPEPERP+0.0110%8h93.313+0.070%$1.8M$5.7M2.3xas long as short
Injective HYPE/USDC PERP+0.0122%1h93.120−0.137%$30K$339K12xas long as short
Coinbase International HYPE-PERP-INTX+0.0144%1h93.230−0.019%$4.8M$5.6M50xas long as short
Reya HYPERUSDPERP+0.0269%1h93.187−0.066%$80K$127K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0154%1h93.193−0.059%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.202−0.049%$16.9M$11.9M75xas long as short
Kraken Futures PF_HYPEUSD+0.0342%1h93.225−0.025%$20.8M$29.6M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0426%1h93.257+0.010%$7.5M$4.0M50xas long as short
RISEx HYPE/USDCshort+0.0527%1h93.265+0.018%$3.2M$6.3M20x