HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0156%/8h= +17.1% APRnext payment +$0.20 per $10,000 · paid last 24h +0.035%

Price spread now: Backpack against 01 Exchange−0.028%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$220.220% of the position

Long on 01 Exchange Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.060%+$6 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now −0.028%, 7d avg −0.013%

Together, before fees+0.044%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange HYPEUSD	93.272	−0.0056	get 0.0007% / 1h	37m 47s	$85K	$345K	20x
Short	Backpack HYPE_USDC_PERP	93.246	0.0100	get 0.0013% / 1h	37m 47s	$7.4M	$10.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against 01 Exchange. 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 01 ExchangebpFee BackpackbpOrdersPrice spread, now −0.028%Rate

Funding earned: $32.76
Price spread: −0.028% → −0.013%: −$1.49
Slippage, 4 orders: −$4.97
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: $9.3
Costs to cover: 0.220%
Break-even: 5.0 days

Slippage from 01 Exchange: live order book, 26 min ago; Backpack: live order book, 1 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 01 Exchange live order book, 26 min ago	0.80 bp	5.8 bp −$6	10.0 bp −$100	doesn't fit	doesn't fit
Sell Backpack live order book, 1 min ago	0.05 bp	5.1 bp −$5	6.8 bp −$68	98.2 bp −$9,820	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	−0.1272%	1h	93.214	−0.062%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.216	−0.060%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0086%	1h	93.170	−0.109%	$700K	$980K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.335	+0.068%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0063%	8h	93.262	−0.011%	$12.6M	$2.7M	50x	as long as short
01 Exchange HYPEUSDlong	−0.0056%	1h	93.272	long leg	$85K	$345K	20x
Aftermath Perps HYPEUSD	−0.0047%	1h	93.391	+0.128%	$22K	$21K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0046%	4h	93.258	−0.015%	$155K	$633K	20x	as long as short
Bullet HYPE-USD	−0.0005%	1h	93.259	−0.014%	$111K	$577K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.361	+0.095%	$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	93.352	+0.086%	$23K	$322K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.306	+0.036%	$62K	—	150x	as long as short
Aster HYPEUSDT	+0.0017%	4h	93.304	+0.034%	$8.8M	$35.5M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.398	+0.135%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0026%	4h	93.305	+0.035%	—	$53.0M	—	as long as short
Bybit HYPEUSDT	+0.0032%	8h	93.290	+0.019%	$321.1M	$277.1M	75x	as long as short
Gate HYPE_USDT	+0.0050%	4h	93.296	+0.026%	$44.5M	$54.8M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0077%	8h	93.298	+0.028%	$114.1M	$301.9M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.301	+0.031%	$16.3M	$61.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.276	+0.004%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.300	+0.030%	$69K	$1.2M	50x	as long as short
MEXC HYPE_USDT	+0.0096%	4h	93.310	+0.041%	$89.7M	$80.7M	100x	as long as short
Binance HYPEUSDT	+0.0097%	4h	93.300	+0.030%	$378.6M	$876.7M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.367	+0.102%	$339K	$162K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.300	+0.030%	$17K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.352	+0.085%	$5.8M	$43.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.383	+0.119%	$2.04B	$653.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.366	+0.101%	$10.0M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.580	+0.330%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.323	+0.055%	$45.9M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.310	+0.041%	$225.6M	$96.7M	75x	as long as short
Backpack HYPE_USDC_PERPshort	+0.0100%	1h	93.246	−0.028%	$7.4M	$10.3M	20x
Variational Omni HYPE	+0.0100%	8h	93.317	+0.048%	$31.1M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.553	+0.301%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.487	+0.231%	$340K	$999K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.323	+0.055%	$666K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.334	+0.066%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.312	+0.043%	$471K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.251	+1.050%	$80K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.270	−0.003%	$16.2M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.331	+0.063%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.279	+0.008%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.286	+0.015%	$18.4M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.268	−0.004%	$397K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0108%	4h	93.349	+0.083%	$5.1M	$29.6M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.360	+0.094%	$4.8M	$5.6M	50x	as long as short
HTX HYPE-USDT	+0.0195%	4h	93.490	+0.234%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0257%	1h	93.256	−0.017%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0277%	8h	93.353	+0.087%	$1.9M	$5.1M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0286%	1h	93.371	+0.106%	$7.4M	$4.4M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.303	+0.034%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0337%	4h	93.271	−0.001%	$16.9M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.414	+0.152%	$3.2M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.220	−0.056%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.351	+0.084%	$20.7M	$30.1M	50x	as long as short