HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0180%/8h= +19.7% APRnext payment +$0.23 per $10,000 · paid last 24h +0.058%

Price spread now: Backpack against Hotstuff−0.034%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Backpack is 0.034% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.034% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 15 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff HYPE-PERP	93.351	−0.0080	get 0.0010% / 1h	40m 30s	$3K	$331	25x
Short	Backpack HYPE_USDC_PERP	93.319	0.0100	get 0.0013% / 1h	40m 30s	$7.4M	$10.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Hotstuff. 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 HotstuffbpFee BackpackbpOrdersPrice spread, now −0.034%Rate

Funding earned: $37.8
Price spread: −0.034% → 0.000%: −$3.43
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Backpack: 5 bp × 2 orders: −$10
Net: $19.37
Costs to cover: 0.150%
Break-even: 3.4 days

Slippage unknown: Hotstuff: no order-book sample; Backpack: live order book, 4 min ago. 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Backpack live order book, 4 min ago	0.05 bp	5.1 bp −$5	6.8 bp −$68	108.7 bp −$10.9K	doesn't fit

Hotstuff: 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	−0.1264%	1h	93.481	+0.139%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.229	−0.131%	$1.2M	$3.8M	10x	as long as short
Bluefin HYPE-PERP	−0.0190%	1h	93.301	−0.054%	$79K	$170K	20x	as long as short
Hotstuff HYPE-PERPlong	−0.0080%	1h	93.351	long leg	$3K	$331	25x
Phemex HYPEUSDT	−0.0067%	8h	93.304	−0.050%	$12.6M	$2.7M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0058%	1h	93.260	−0.097%	$700K	$980K	10x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.402	+0.055%	$85K	$346K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0046%	4h	93.317	−0.036%	$156K	$629K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0035%	1h	93.438	+0.093%	$22K	$21K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.361	+0.010%	$128K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.394	+0.046%	$23K	$322K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.366	+0.016%	$62K	—	150x	as long as short
Aster HYPEUSDT	+0.0016%	4h	93.332	−0.020%	$8.8M	$35.6M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.549	+0.212%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0026%	4h	93.346	−0.005%	—	$53.1M	—	as long as short
Bullet HYPE-USD	+0.0028%	1h	93.344	−0.007%	$111K	$578K	20x	as long as short
Bybit HYPEUSDT	+0.0034%	8h	93.367	+0.017%	$322.0M	$277.0M	75x	as long as short
Gate HYPE_USDT	+0.0044%	4h	93.345	−0.006%	$44.5M	$54.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0078%	8h	93.347	−0.004%	$114.2M	$301.9M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.370	+0.020%	$16.3M	$61.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.341	−0.011%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.397	+0.049%	$69K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.380	+0.031%	$339K	$162K	20x	as long as short
Binance HYPEUSDT	+0.0097%	4h	93.396	+0.048%	$379.0M	$876.9M	75x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.410	+0.063%	$17K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.335	−0.017%	$5.8M	$43.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.436	+0.091%	$2.04B	$655.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.384	+0.035%	$10.0M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.580	+0.245%	$204K	$10K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.339	−0.013%	$89.9M	$80.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.360	+0.010%	$45.9M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.337	−0.015%	$225.7M	$96.7M	75x	as long as short
Backpack HYPE_USDC_PERPshort	+0.0100%	1h	93.319	−0.034%	$7.4M	$10.4M	20x
Variational Omni HYPE	+0.0100%	8h	93.317	−0.037%	$31.1M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.553	+0.216%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.487	+0.146%	$340K	$999K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.585	+0.251%	$668K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.403	+0.056%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.372	+0.022%	$472K	$2.5M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.329	−0.023%	$16.2M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.418	+0.072%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.303	−0.051%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.326	−0.027%	$18.4M	$43.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.330	−0.023%	$397K	$163K	20x	as long as short
edgeX HYPEUSDC	+0.0116%	4h	93.476	+0.134%	$5.1M	$29.6M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.370	+0.020%	$4.9M	$5.4M	50x	as long as short
HTX HYPE-USDT	+0.0200%	4h	93.500	+0.160%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0257%	1h	93.331	−0.021%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0279%	8h	93.417	+0.071%	$1.9M	$5.1M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.367	+0.017%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.300	−0.055%	$16.9M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0350%	1h	93.403	+0.056%	$7.4M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.450	+0.106%	$3.2M	$6.5M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.200	−0.162%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.379	+0.030%	$20.7M	$30.1M	50x	as long as short