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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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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 20:00 UTC−0.0142%/8hnext payment −$0.18 per $10,000 · paid last 24h −0.008%
Price spread now: Backpack against Reya+0.079%7-day average +0.027% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on ReyaShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.036%+$4 on $10k
Price spread, last 3 days (all we have)−1.207%−$121 · spread now +0.079%, 7d avg +0.027%
Together, before fees−1.172%+ Points / potential airdropReya: Active · farm board−$117 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Backpack is 0.052% dearer against Reya than usual: you sell high and buy low (spread +0.079% now, against its 7-day average of +0.027%): +$5 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 29 hours.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongReya HYPERUSDPERP93.1890.0242pay 0.0030% / 1h6m 21s$77K$157K15x
ShortBackpack HYPE_USDC_PERP93.2630.0100get 0.0013% / 1h6m 21s$8.0M$11.5M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Reya. 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
−$29.8
Price spread: +0.079% → +0.027%
$5.18
Slippage, 4 orders
no order book: not counted
Fee Reya: 3 bp × 2 orders
−$6
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$40.61
Costs to cover
0.160%
Break-even
never at this rate
Slippage unknown: Reya: no order-book sample; Backpack: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Reya no order-book sample—————
Sell Backpack live order book, 2 min ago0.05 bp5.1 bp −$57.3 bp −$73255.3 bp −$25.5Kdoesn't fit
Reya: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1072%1h93.242+0.057%$196K$244K7xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.269+0.085%$3K$33125xas long as short
Injective HYPE/USDC PERP−0.0004%1h93.620+0.462%$30K$177K12xas long as short
dYdX HYPE-USD0.0000%1h93.249+0.064%$127K$33K5xas long as short
Kalshi KXHYPEPERP0.0000%8h93.361+0.184%$2.0M$5.4M2.3xas long as short
Perpl HYPE0.0000%43m93.204+0.016%$24K$372K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0005%1h93.195+0.006%$44K—150xas long as short
Aftermath Perps HYPEUSD+0.0008%1h93.332+0.153%$22K$22K10xas long as short
Aster HYPEUSDT+0.0021%4h93.172−0.019%$8.9M$36.2M300xas long as short
01 Exchange HYPEUSD+0.0048%1h93.201+0.013%$90K$323K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate HYPE_USDT+0.0072%4h93.154−0.038%$44.1M$56.1M75xas long as short
Arcus HYPE-USD+0.0082%1h93.160−0.031%$1.2M$4.0M10xas long as short
Bybit HYPEUSDT+0.0083%8h93.131−0.063%$324.6M$286.7M75xas long as short
Lighter HYPE+0.0096%1h93.254+0.069%$18.7M$58.3M20xas long as short
Lighter RH HYPE+0.0096%1h93.244+0.059%$3.1M$12.5M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.195+0.006%$55K$1.3M50xas long as short
Ondo Perps HYPE-USD.P+0.0097%1h93.320+0.140%$700K$945K10xas long as short
Orderly PERP_HYPE_USDC+0.0097%4h93.164−0.027%$181K$505K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.230+0.044%$21K$1.8M10xas long as short
Nado HYPE-PERP+0.0100%1h93.190+0.001%$6.3M$43.6M10xas long as short
Pacifica HYPE+0.0100%1h93.207+0.019%$10.0M$14.3M20xas long as short
Binance HYPEUSDT+0.0100%4h93.178−0.012%$389.7M$870.0M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.146−0.047%$114.5M$313.1M50xas long as short
Bulk HYPE-USD+0.0100%1h93.380+0.205%$205K$12K10xas long as short
MEXC HYPE_USDT+0.0100%4h93.191+0.002%$91.4M$83.4M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.190+0.001%$46.4M$19.6M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.167−0.024%$225.5M$102.9M75xas long as short
BingX HYPE-USDT+0.0100%4h93.163−0.028%—$54.7M—as long as short
Backpack HYPE_USDC_PERPshort+0.0100%1h93.263+0.079%$8.0M$11.5M20x
Variational Omni HYPE+0.0100%8h93.355+0.177%$29.1M$49.0M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.383+0.208%$7.5M$46.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.365+0.189%$457K$943K50xas long as short
StandX HYPE-USD+0.0100%1h93.341+0.163%$675K$2.3M20xas long as short
Vest HYPE-PERP+0.0100%1h93.256+0.071%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.215+0.028%$460K$2.6M20xas long as short
Bullet HYPE-USD+0.0100%1h93.1890.000%$112K$573K20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.172−0.019%$76K$171K20xas long as short
Derive HYPE-PERP+0.0100%1h93.145−0.048%$16.3M$7.0M10xas long as short
SunX HYPE-USDT+0.0100%4h93.193+0.004%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.161−0.030%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.198+0.009%$12.6M$2.5M50xas long as short
Paradex HYPE-USD-PERP+0.0101%8h93.222+0.035%$341K$172K20xas long as short
edgeX HYPEUSDC+0.0104%4h93.353+0.176%$5.1M$28.9M30xas long as short
Extended HYPE-USD+0.0104%1h93.158−0.034%$18.1M$40.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.187−0.002%$396K$320K20xas long as short
Kraken Futures PF_HYPEUSD+0.0151%1h93.228+0.042%$16.2M$20.9M50xas long as short
Phoenix HYPE+0.0172%1h93.411+0.238%$208K$954K10xas long as short
Hyperliquid HYPE+0.0188%1h93.274+0.091%$2.02B$660.7M10xas long as short
Coinbase International HYPE-PERP-INTX+0.0200%1h93.310+0.129%$4.9M$5.5M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0222%1h93.260+0.076%$7.4M$4.6M50xas long as short
Reya HYPERUSDPERPlong+0.0242%1h93.189long leg$77K$157K15x
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0165%1h93.186−0.003%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.249+0.064%$17.4M$12.3M75xas long as short
HTX HYPE-USDT+0.0406%4h93.380+0.205%$1.5M$7.5M75xas long as short
RISEx HYPE/USDC+0.0516%1h93.256+0.072%$2.7M$6.4M20xas long as short