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 23:00 UTC+0.0075%/8h= +8.3% APRnext payment +$0.09 per $10,000 · paid last 24h +0.012%
Price spread now: Backpack against Bullet+0.037%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−$24as in the Price arb table
costs, in and out, $10k−$280.280% of the position
Long on BulletShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.033%+$3 on $10k
Price spread, last 3 days (all we have)−0.344%−$34 · spread now +0.037%, 7d avg −0.007%
Together, before fees−0.311%−$31 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Backpack is 0.044% dearer against Bullet than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.007%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBullet HYPE-USD93.0570.0025pay 0.0003% / 1h32m 36s$111K$579K20x
ShortBackpack HYPE_USDC_PERP93.0910.0100get 0.0013% / 1h32m 36s$7.8M$11.2M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Bullet. 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
$15.83
Price spread: +0.037% → −0.007%
$4.4
Slippage, 4 orders
−$9.97
Fee Bullet: 4 bp × 2 orders
−$8
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$7.74
Costs to cover
0.280%
Break-even
10.4 days
Slippage from Bullet: live order book, 52 min ago; Backpack: live order book, 2 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 Bullet live order book, 52 min ago0.48 bp7.1 bp −$79.1 bp −$91doesn't fitdoesn't fit
Sell Backpack live order book, 2 min ago0.05 bp5.9 bp −$68.1 bp −$8165.5 bp −$6,552doesn'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
Aftermath Perps HYPEUSD−0.0380%1h93.133+0.081%$22K$22K10xas long as short
Hibachi HYPE/USDT-P−0.0224%1h93.046−0.011%$196K$230K7xas long as short
Arcus HYPE-USD−0.0131%1h93.029−0.030%$1.2M$4.0M10xas long as short
Ondo Perps HYPE-USD.P−0.0119%1h93.010−0.051%$698K$924K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.084+0.029%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0024%1h93.051−0.006%$90K$362K20xas long as short
Popdex HYPEUSDT−0.0016%1h93.043−0.015%$57K$1.2M50xas long as short
Aster HYPEUSDT0.0000%4h93.080+0.025%$8.8M$36.0M300xas long as short
dYdX HYPE-USD0.0000%1h93.124+0.071%$127K$32K5xas long as short
Perpl HYPE0.0000%43m93.070+0.013%$23K$331K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.102+0.048%$20K—150xas long as short
Bullet HYPE-USDlong+0.0025%1h93.057long leg$111K$579K20x
Bybit HYPEUSDT+0.0025%8h93.001−0.060%$322.9M$287.1M75xas long as short
Orderly PERP_HYPE_USDC+0.0028%4h93.072+0.016%$172K$519K20xas long as short
Derive HYPE-PERP+0.0031%1h93.034−0.024%$16.2M$7.1M10xas long as short
Phoenix HYPE+0.0034%1h93.106+0.053%$214K$1.2M10xas long as short
Gate HYPE_USDT+0.0042%4h93.067+0.011%$43.9M$58.1M75xas long as short
MEXC HYPE_USDT+0.0076%4h93.082+0.027%$90.1M$81.8M100xas long as short
Binance HYPEUSDT+0.0077%4h93.045−0.013%$382.3M$894.1M75xas long as short
Lighter HYPE+0.0096%1h93.134+0.083%$18.5M$58.8M20xas long as short
Lighter RH HYPE+0.0096%1h93.111+0.058%$3.1M$12.1M20xas long as short
Paradex HYPE-USD-PERP+0.0098%8h93.095+0.041%$338K$170K20xas long as short
edgeX HYPEUSDC+0.0099%4h93.079+0.023%$5.1M$29.6M30xas long as short
Katana Perps HYPE-USD+0.0100%8h93.110+0.057%$34K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.041−0.017%$5.9M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.103+0.049%$2.02B$670.6M10xas long as short
Pacifica HYPE+0.0100%1h93.105+0.052%$10.0M$14.3M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.000−0.061%$113.8M$313.5M50xas long as short
Bulk HYPE-USD+0.0100%1h93.390+0.358%$204K$10K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.094+0.040%$47.0M$18.9M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.033−0.026%$225.5M$103.0M75xas long as short
BingX HYPE-USDT+0.0100%4h93.071+0.015%—$53.9M—as long as short
Backpack HYPE_USDC_PERPshort+0.0100%1h93.091+0.037%$7.8M$11.2M20x
Variational Omni HYPE+0.0100%8h93.034−0.024%$29.0M$50.5M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.144+0.094%$7.5M$46.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.135+0.084%$412K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.099+0.045%$673K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.070+0.014%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.075+0.019%$492K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.079+0.024%$75K$168K20xas long as short
SunX HYPE-USDT+0.0100%4h93.089+0.034%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.083+0.028%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.073+0.017%$12.7M$2.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.039−0.020%$18.2M$42.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.084+0.029%$396K$318K20xas long as short
Kalshi KXHYPEPERP+0.0107%8h93.224+0.179%$1.9M$5.3M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.180+0.132%$4.9M$5.7M50xas long as short
Injective HYPE/USDC PERP+0.0239%1h93.070+0.014%$30K$338K12xas long as short
Reya HYPERUSDPERP+0.0247%1h93.004−0.057%$77K$158K15xas long as short
HTX HYPE-USDT+0.0249%4h93.228+0.184%$1.5M$7.7M75xas long as short
RISEx HYPE/USDC+0.0280%1h93.127+0.076%$2.8M$6.8M20xas long as short
BloFin HYPE-USDT+0.0308%4h93.074+0.018%$16.9M$12.5M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0158%1h93.095+0.041%$1.5M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0384%1h93.180+0.132%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSD+0.0466%1h93.194+0.147%$20.8M$28.9M50xas long as short