HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Backpack against Extended+0.139%48s7-day average +0.289% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as 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−$180.184% of the position

Long on Extended Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 7 days−0.195%−$20 · spread now +0.139%, 7d avg +0.289%

Together, before fees−0.166%+ Points / potential airdropExtended: Active · farm board−$17 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 0.151% cheaper against Extended than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.289%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended HYPE-USD	92.699	0.0104	pay 0.0013% / 1h	57m 17s	$18.1M	$43.5M	50x
Short	Backpack HYPE_USDC_PERP	92.827	0.0100	get 0.0013% / 1h	57m 17s	$7.3M	$11.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Extended. 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 ExtendedbpFee BackpackbpOrdersPrice spread, now +0.139%Rate

Funding earned: −$0.84
Price spread: +0.139% → +0.289%: −$15.09
Slippage, 4 orders: −$3.4
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$34.33
Costs to cover: 0.184%
Break-even: never at this rate

Slippage from Extended: live order book, 2 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Extended live order book, 2 min ago	0.05 bp	2.6 bp −$3	4.9 bp −$49	25.8 bp −$2,582	doesn't fit
Sell Backpack live order book, 2 min ago	0.05 bp	8.2 bp −$8	10.1 bp −$101	78.3 bp −$7,825	doesn't fit

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	−0.0472%	1h	92.744	+0.049%	$193K	$228K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0281%	1h	92.823	+0.135%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.736	+0.040%	$1.1M	$3.9M	10x	as long as short
Gate HYPE_USDT	−0.0148%	4h	92.753	+0.059%	$44.4M	$53.4M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.807	+0.117%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0063%	4h	92.702	+0.004%	$157K	$653K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.772	+0.080%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.769	+0.075%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.778	+0.086%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0036%	8h	92.839	+0.152%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0041%	8h	92.711	+0.013%	$315.8M	$281.7M	75x	as long as short
Phoenix HYPE	+0.0043%	1h	92.888	+0.204%	$210K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	+0.0048%	1h	92.792	+0.101%	$87K	$362K	20x	as long as short
Popdex HYPEUSDT	+0.0048%	1h	92.761	+0.067%	$69K	$1.1M	50x	as long as short
Bullet HYPE-USD	+0.0057%	1h	92.753	+0.059%	$111K	$579K	20x	as long as short
Aster HYPEUSDT	+0.0070%	4h	92.764	+0.071%	$8.7M	$36.2M	300x	as long as short
BingX HYPE-USDT	+0.0074%	4h	92.752	+0.058%	—	$53.8M	—	as long as short
Bitget HYPEUSDT	+0.0084%	4h	92.745	+0.050%	$224.5M	$98.7M	75x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	92.869	+0.184%	$4.9M	$29.5M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	92.790	+0.099%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.777	+0.085%	$16.0M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.772	+0.079%	$3.1M	$11.6M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0099%	8h	92.724	+0.027%	$113.8M	$303.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.760	+0.066%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.755	+0.061%	$7.4M	$45.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.815	+0.126%	$2.02B	$664.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.798	+0.107%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.755	+0.061%	$372.7M	$902.2M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	92.720	+0.023%	$698K	$1.1M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	+0.109%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.760	+0.066%	$88.1M	$79.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.767	+0.074%	$46.1M	$18.4M	75x	as long as short
Backpack HYPE_USDC_PERPshort	+0.0100%	1h	92.827	+0.139%	$7.3M	$11.3M	20x
Variational Omni HYPE	+0.0100%	8h	92.859	+0.173%	$28.5M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.886	+0.202%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.892	+0.209%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.845	+0.158%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.833	+0.145%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.791	+0.100%	$468K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.708	+0.010%	$78K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.714	+0.016%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.756	+0.062%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.728	+0.032%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.956	+0.278%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USDlong	+0.0104%	1h	92.699	long leg	$18.1M	$43.5M	50x
Aevo HYPE-PERP	+0.0104%	1h	92.765	+0.072%	$392K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.800	+0.109%	$4.7M	$5.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.799	+0.108%	$20.6M	$30.4M	50x	as long as short
Kalshi KXHYPEPERP	+0.0224%	8h	92.878	+0.194%	$1.8M	$5.4M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.050	+0.379%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.746	+0.051%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.758	+0.064%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.887	+0.203%	$16.8M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0440%	1h	92.842	+0.155%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.826	+0.138%	$3.2M	$6.4M	20x	as long as short