EIGEN

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0081%/8h= −8.8% APRnext payment −$0.10 per $10,000 · paid last 24h +0.114%

Price spread now: Lighter against Hyperliquid+0.021%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$146as in the Price arb table

costs, in and out, $10k−$1431.435% of the position

Long on Hyperliquid Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.557%+$56 on $10k

Price spread, last 4 days (all we have)+0.110%+$11 · spread now +0.021%, 7d avg +0.049%

Together, before fees+0.666%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board+$67 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter is 0.028% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.049%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.557%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid EIGEN	0.2422	0.0177	pay 0.0022% / 1h	22m 25s	$4.7M	$1.7M	5x
Short	Lighter EIGEN	0.2422	0.0096	get 0.0012% / 1h	22m 25s	$544K	$504K	5x

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 +0.021%Rate

Funding earned: −$16.96
Price spread: +0.021% → +0.049%: −$2.8
Slippage, 4 orders: −$134.48
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$163.24
Costs to cover: 1.435%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; Lighter: live order book, 33 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 Hyperliquid live order book, 9 min ago	2.07 bp	25.7 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 33 min ago	25.93 bp	54.4 bp −$54	95.3 bp −$953	doesn't fit	doesn't fit

EIGEN on 26 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
Bybit EIGENUSDT	−0.0071%	4h	0.2415	−0.289%	$9.4M	$7.5M	50x	as long as short
dYdX EIGEN-USD	0.0000%	1h	0.2415	−0.309%	$3K	—	5x	as long as short
Deribit EIGEN_USDC-PERPETUAL	0.0000%	1h	0.2412	−0.425%	—	$41	10x	as long as short
Injective EIGEN/USDC PERP	+0.0033%	1h	0.2438	+0.661%	$6	$6	5.5x	as long as short
01 Exchange EIGENUSD	+0.0064%	1h	0.2417	−0.206%	$820	$5K	10x	as long as short
Lighter EIGENshort	+0.0096%	1h	0.2422	+0.021%	$544K	$504K	5x
Aster EIGENUSDT	+0.0100%	4h	0.2417	−0.202%	$45K	$39K	5x	as long as short
Binance EIGENUSDT	+0.0100%	4h	0.2416	−0.248%	$8.3M	$20.5M	75x	as long as short
OKX EIGEN-USDT-SWAP	+0.0100%	4h	0.2417	−0.206%	$1.6M	$5.0M	20x	as long as short
Gate EIGEN_USDT	+0.0100%	4h	0.2414	−0.330%	$740K	$592K	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC EIGEN_USDT	+0.0100%	4h	0.2417	−0.206%	$8.3M	$2.3M	125x	as long as short
KuCoin EIGENUSDTM	+0.0100%	4h	0.2416	−0.248%	$2.4M	$10.3M	50x	as long as short
Bitget EIGENUSDT	+0.0100%	4h	0.2416	−0.248%	$1.9M	$1.5M	75x	as long as short
BingX EIGEN-USDC	+0.0100%	4h	0.2417	−0.206%	—	$6.5M	—	as long as short
Variational Omni EIGEN	+0.0100%	4h	0.2397	−1.052%	$194K	$124K	—	as long as short
GRVT EIGEN_USDT_Perp	+0.0100%	4h	0.2395	−1.115%	$194K	$2.2M	10x	as long as short
ApeX Omni EIGENUSDT	+0.0100%	1h	0.2401	−0.867%	$35K	$230K	50x	as long as short
Nado EIGEN-PERP	+0.0100%	1h	0.2419	−0.124%	$36K	$20K	3x	as long as short
Orderly PERP_EIGEN_USDC_mythos	+0.0100%	4h	0.2412	−0.413%	$1K	$4K	10x	as long as short
Extended EIGEN-USD	+0.0104%	1h	0.2418	−0.170%	$92K	$642K	10x	as long as short
BloFin EIGEN-USDT	+0.0136%	4h	0.2405	−0.702%	$356K	$117K	75x	as long as short
Hyperliquid EIGENlong	+0.0177%	1h	0.2422	long leg	$4.7M	$1.7M	5x
GMX EIGEN/USD [ETH-USDC]	L +0.0195% / S −0.0568%	1h	0.2411	−0.444%	$2K	—	100x	as long as short
Coinbase International EIGEN-PERP-INTX	+0.0208%	1h	0.2408	−0.578%	$41K	$247K	50x	as long as short
Reya EIGENRUSDPERP	+0.0517%	1h	0.2417	−0.205%	$844	—	15x	as long as short
Kraken Futures PF_EIGENUSD	+0.0572%	1h	0.2412	−0.420%	$166K	$100K	20x	as long as short