2Z

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.002%

Price spread now: Lighter against Hyperliquid+0.153%7-day average — · you sell dearer than you buy

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

Long on Hyperliquid Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.153% dearer against Hyperliquid than usual: you sell high and buy low, +$15 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid 2Z	0.05236	0.0100	pay 0.0013% / 1h	33m 35s	$676K	$353K	3x
Short	Lighter 2Z	0.05244	0.0096	get 0.0012% / 1h	33m 35s	$17K	$6K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Hyperliquid. 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 HyperliquidbpFee LighterbpOrdersPrice spread, now +0.153%Rate

Funding earned: −$0.84
Price spread: +0.153% → 0.000%: $15.28
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: $5.44
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 56 min ago; Lighter: no order-book sample. 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 Hyperliquid live order book, 56 min ago	0.29 bp	18.6 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

Lighter: 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.

2Z on 17 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
Backpack 2Z_USDC_PERP	−0.0657%	1h	0.05229	−0.134%	$45K	$22K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.889%	$867	$213	5.5x	as long as short
Lighter 2Zshort	+0.0096%	1h	0.05244	+0.153%	$17K	$6K	3x
Hyperliquid 2Zlong	+0.0100%	1h	0.05236	long leg	$676K	$353K	3x
Aster 2ZUSDT	+0.0100%	4h	0.05237	+0.015%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05234	−0.042%	$75K	$15K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05231	−0.095%	$2.1M	$2.2M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05238	+0.038%	$721K	$963K	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05233	−0.057%	$449K	$713K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05241	+0.095%	$91K	$61K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC 2Z_USDT	+0.0100%	4h	0.05239	+0.057%	$328K	$131K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05233	−0.063%	$179K	$55K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05240	+0.076%	$162K	$625K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05236	0.000%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05239	+0.049%	$33K	$23K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05237	+0.019%	$1K	$1.2M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.0567%	1h	0.05242	+0.110%	$5K	$3K	10x	as long as short