HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0160%/8h= +17.5% APRnext payment +$0.20 per $10,000 · paid last 24h +0.012%

Price spread now: Lighter against Bullet+0.026%7-day average +0.018% · 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−$14as in the Price arb table

costs, in and out, $10k−$150.152% of the position

Long on Bullet Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.018%+$2 on $10k

Price spread, last 4 days (all we have)−0.369%−$37 · spread now +0.026%, 7d avg +0.018%

Together, before fees−0.352%+ Points / potential airdropLighter: Season 3 · farm board−$35 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.018%, 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	Bullet HYPE-USD	92.280	−0.0064	get 0.0008% / 1h	49m 06s	$110K	$579K	20x
Short	Lighter HYPE	92.304	0.0096	get 0.0012% / 1h	49m 06s	$16.0M	$62.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bullet. 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 BulletbpFee LighterbpOrdersPrice spread, now +0.026%Rate

Funding earned: $33.65
Price spread: +0.026% → +0.018%: $0.83
Slippage, 4 orders: −$7.24
Fee Bullet: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $19.24
Costs to cover: 0.152%
Break-even: 3.0 days

Slippage from Bullet: live order book, 10 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 Bullet live order book, 10 min ago	0.54 bp	7.8 bp −$8	12.0 bp −$120	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.44 bp	0.4 bp $0	2.5 bp −$25	10.3 bp −$1,031	39.4 bp −$19.7K

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
Arcus HYPE-USD	−0.0948%	1h	92.216	−0.069%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0712%	1h	92.416	+0.148%	$194K	$227K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0115%	1h	92.597	+0.343%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	92.316	+0.039%	$85K	$352K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.501	+0.240%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0068%	4h	92.272	−0.009%	$157K	$663K	20x	as long as short
Bullet HYPE-USDlong	−0.0064%	1h	92.280	long leg	$110K	$579K	20x
Ondo Perps HYPE-USD.P	−0.0046%	1h	92.280	0.000%	$699K	$1.1M	10x	as long as short
Aster HYPEUSDT	−0.0005%	4h	92.322	+0.046%	$8.7M	$36.2M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.417	+0.149%	$127K	$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	92.341	+0.066%	$22K	$310K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.315	+0.038%	$61K	—	150x	as long as short
Derive HYPE-PERP	+0.0020%	1h	92.242	−0.041%	$16.0M	$7.5M	10x	as long as short
BingX HYPE-USDT	+0.0032%	4h	92.294	+0.015%	—	$53.2M	—	as long as short
Bybit HYPEUSDT	+0.0037%	8h	92.330	+0.054%	$316.7M	$279.5M	75x	as long as short
Phoenix HYPE	+0.0043%	1h	92.430	+0.163%	$210K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0045%	8h	92.304	+0.026%	$12.5M	$2.7M	50x	as long as short
Gate HYPE_USDT	+0.0048%	4h	92.287	+0.008%	$44.3M	$54.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0075%	8h	92.340	+0.065%	$112.8M	$300.4M	50x	as long as short
MEXC HYPE_USDT	+0.0078%	4h	92.298	+0.020%	$87.0M	$80.3M	100x	as long as short
Binance HYPEUSDT	+0.0079%	4h	92.318	+0.041%	$371.1M	$893.9M	75x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	92.347	+0.073%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0092%	8h	92.363	+0.090%	$337K	$162K	20x	as long as short
Lighter HYPEshort	+0.0096%	1h	92.304	+0.026%	$16.0M	$62.1M	20x
Lighter RH HYPE	+0.0096%	1h	92.314	+0.037%	$3.1M	$11.6M	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	92.320	+0.043%	$13K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.302	+0.024%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.350	+0.076%	$2.01B	$660.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.375	+0.103%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	+0.564%	$202K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.301	+0.023%	$45.7M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.350	+0.076%	$223.4M	$97.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.280	0.000%	$7.3M	$10.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.469	+0.205%	$28.5M	$57.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.799	+0.562%	$7.5M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.488	+0.225%	$338K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.443	+0.177%	$663K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.383	+0.111%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.356	+0.082%	$466K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.331	+0.055%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.288	+0.009%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.476	+0.212%	$1.4M	$6.2M	75x	as long as short
edgeX HYPEUSDC	+0.0103%	4h	92.776	+0.537%	$5.1M	$29.2M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.342	+0.067%	$18.1M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.276	−0.004%	$390K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.250	−0.032%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.350	+0.076%	$4.7M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0260%	1h	92.299	+0.020%	$78K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0262%	8h	92.333	+0.057%	$1.8M	$5.4M	2.3x	as long as short
BloFin HYPE-USDT	+0.0316%	4h	92.252	−0.030%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0329% / S −0.0153%	1h	92.313	+0.036%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0333%	1h	92.330	+0.054%	$20.5M	$30.4M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0378%	1h	92.379	+0.107%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.395	+0.125%	$3.1M	$6.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0850%	1h	92.242	−0.041%	$78K	$169K	20x	as long as short