HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h 0.000%

Price spread now: Lighter against Bulk+0.201%53s7-day average 0.000% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$100.097% of the position

Long on Bulk Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.426%−$43 · spread now +0.201%, 7d avg 0.000%

Together, before fees−0.423%+ Points / potential airdropLighter: Season 3 · farm board−$42 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.201% dearer against Bulk than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of 0.000%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk HYPE-USD	93.335	0.0100	pay 0.0013% / 1h	48m 47s	$204K	$12K	10x
Short	Lighter HYPE	93.523	0.0096	get 0.0012% / 1h	48m 47s	$18.5M	$59.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bulk. 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 BulkbpFee LighterbpOrdersPrice spread, now +0.201%Rate

Funding earned: −$0.84
Price spread: +0.201% → 0.000%: $20.07
Slippage, 4 orders: −$2.74
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: $9.49
Costs to cover: 0.097%
Break-even: from the start

Slippage from Bulk: live order book, 40 min ago; Lighter: live order book, 5 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 Bulk live order book, 40 min ago	0.53 bp	4.0 bp −$4	6.7 bp −$67	14.0 bp −$1,405	44.7 bp −$22.4K
Sell Lighter live order book, 5 min ago	0.14 bp	0.7 bp −$1	3.0 bp −$30	12.5 bp −$1,248	40.9 bp −$20.5K

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	−0.1280%	1h	93.248	−0.093%	$197K	$233K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0186%	1h	93.210	−0.134%	$700K	$943K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0146%	1h	93.371	+0.038%	$22K	$22K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.419	+0.090%	$89K	$344K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.380	+0.048%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0025%	1h	93.376	+0.043%	$113K	$583K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.504	+0.180%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.497	+0.173%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.441	+0.113%	$23K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.420	+0.091%	$19K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0012%	4h	93.455	+0.128%	$8.9M	$36.2M	300x	as long as short
Derive HYPE-PERP	+0.0017%	1h	93.339	+0.004%	$16.4M	$7.1M	10x	as long as short
Gate HYPE_USDT	+0.0018%	4h	93.446	+0.119%	$44.2M	$56.2M	75x	as long as short
Bybit HYPEUSDT	+0.0041%	8h	93.450	+0.123%	$325.9M	$288.4M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.408	+0.078%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0076%	4h	93.408	+0.078%	$180K	$536K	20x	as long as short
ApeX Omni HYPEUSDT	+0.0092%	1h	93.318	−0.019%	$405K	$1.1M	50x	as long as short
Lighter HYPEshort	+0.0096%	1h	93.523	+0.201%	$18.5M	$59.3M	20x
Lighter RH HYPE	+0.0096%	1h	93.494	+0.170%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.399	+0.068%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.420	+0.091%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.398	+0.068%	$6.0M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.513	+0.191%	$2.04B	$668.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.491	+0.167%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.467	+0.141%	$386.0M	$890.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.460	+0.134%	$114.8M	$316.2M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.383	+0.051%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USDlong	+0.0100%	1h	93.335	long leg	$204K	$12K	10x
MEXC HYPE_USDT	+0.0100%	4h	93.440	+0.112%	$92.8M	$81.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.440	+0.112%	$46.3M	$19.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.488	+0.164%	$227.1M	$102.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.439	+0.111%	—	$54.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.418	+0.089%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.295	−0.043%	$28.8M	$49.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.336	+0.001%	$7.5M	$46.2M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.344	+0.009%	$675K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.438	+0.110%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.428	+0.099%	$493K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.391	+0.060%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.424	+0.095%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.378	+0.046%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.381	+0.049%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.427	+0.098%	$339K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.416	+0.086%	$18.4M	$41.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.400	+0.069%	$397K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0113%	4h	93.276	−0.064%	$5.1M	$29.5M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.460	+0.134%	$4.9M	$5.7M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0242%	1h	93.484	+0.159%	$7.4M	$4.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.392	+0.061%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.290	−0.049%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.425	+0.096%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.376	+0.044%	$17.1M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0398%	4h	93.581	+0.263%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.466	+0.140%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.479	+0.154%	$19.2M	$25.9M	50x	as long as short