Funding you earn now, next payment 07:00 UTC−0.0168%/8h= −18.4% APRnext payment −$0.21 per $10,000 · paid last 24h −0.043%
Price spread now: Lighter RH against Deribit−0.080%7-day average −0.030% · you buy dearer than you sell
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$170.166% of the position
Funding, last 7 days−0.043%−$4 on $10k
+Price spread, last 4 days (all we have)+0.076%+$8 · spread now −0.080%, 7d avg −0.030%
=Together, before fees+0.033%+ Points / potential airdropLighter RH: Points live · farm board+$3 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Lighter RH is 0.051% cheaper against Deribit than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.030%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit HYPE_USDC-PERPETUAL | 93.435 | 0.0264 | pay 0.0033% / 1h | 34m 52s | $7.4M | $4.2M | 50x |
| Short | Lighter RH HYPE | 93.360 | 0.0096 | get 0.0012% / 1h | 34m 52s | $3.1M | $11.1M | 20x |
Deribit HYPE_USDC-PERPETUAL
Lighter RH HYPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$35.28
- Price spread: −0.080% → −0.030%
- −$5.06
- Slippage, 4 orders
- −$9.56
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$56.9
- Costs to cover
- 0.166%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 4 min ago; Lighter RH: live order book, 4 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 Deribit live order book, 4 min ago | 0.96 bp | 5.6 bp −$6 | 11.2 bp −$112 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 4 min ago | 0.70 bp | 2.5 bp −$2 | 4.2 bp −$42 | 26.3 bp −$2,632 | 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 | −0.1048% | 1h | 93.346 | −0.095% | $198K | $240K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0190% | 1h | 93.520 | +0.091% | $22K | $21K | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0091% | 1h | 93.330 | −0.112% | $703K | $1.2M | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.376 | −0.063% | $3K | $331 | 25x | as long as short |
| Bullet HYPE-USD | −0.0075% | 1h | 93.339 | −0.103% | $110K | $580K | 20x | as long as short |
| 01 Exchange HYPEUSD | −0.0048% | 1h | 93.359 | −0.081% | $86K | $369K | 20x | as long as short |
| Bluefin HYPE-PERP | −0.0035% | 1h | 93.333 | −0.109% | $79K | $155K | 20x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0021% | 4h | 93.334 | −0.108% | $145K | $685K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.345 | −0.096% | $128K | $28K | 5x | as long as short |
| Kalshi KXHYPEPERP | 0.0000% | 8h | 93.442 | +0.007% | $1.8M | $5.6M | 2.3x | as long as short |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Ondo Perps HYPE-USD.P
Hotstuff HYPE-PERP
Bullet HYPE-USD
01 Exchange HYPEUSD
Bluefin HYPE-PERP
Orderly PERP_HYPE_USDC
dYdX HYPE-USD
Kalshi KXHYPEPERPShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Perpl HYPE | 0.0000% | 43m | 93.338 | −0.104% | $20K | $289K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0001% | 1h | 93.368 | −0.072% | $83K | — | 150x | as long as short |
| BingX HYPE-USDT | +0.0002% | 4h | 93.359 | −0.081% | — | $53.6M | — | as long as short |
| Bybit HYPEUSDT | +0.0002% | 8h | 93.350 | −0.091% | $315.0M | $287.9M | 75x | as long as short |
| Derive HYPE-PERP | +0.0007% | 1h | 93.302 | −0.142% | $16.2M | $7.5M | 10x | as long as short |
| Phoenix HYPE | +0.0017% | 1h | 93.482 | +0.050% | $209K | $1.1M | 10x | as long as short |
| Bitget HYPEUSDT | +0.0042% | 4h | 93.369 | −0.071% | $225.0M | $99.8M | 75x | as long as short |
| Paradex HYPE-USD-PERP | +0.0077% | 8h | 93.418 | −0.018% | $334K | $161K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0080% | 4h | 93.460 | +0.027% | $5.0M | $30.6M | 30x | as long as short |
| Arcus HYPE-USD | +0.0084% | 1h | 93.326 | −0.117% | $1.0M | $4.0M | 10x | as long as short |
| Phemex HYPEUSDT | +0.0091% | 8h | 93.382 | −0.057% | $12.7M | $2.8M | 50x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.355 | −0.086% | $16.1M | $63.9M | 20x | as long as short |
| Lighter RH HYPEshort | +0.0096% | 1h | 93.360 | −0.080% | $3.1M | $11.1M | 20x | |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.336 | −0.106% | $80K | $1.2M | 50x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.350 | −0.091% | $21K | $1.7M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.382 | −0.057% | $7.4M | $50.9M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.449 | +0.015% | $2.04B | $681.5M | 10x | as long as short |
| Aster HYPEUSDT | +0.0100% | 4h | 93.388 | −0.050% | $8.8M | $37.1M | 300x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.382 | −0.057% | $10.1M | $15.4M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.384 | −0.055% | $373.9M | $929.9M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.367 | −0.073% | $115.2M | $314.7M | 50x | as long as short |
| Gate HYPE_USDT | +0.0100% | 4h | 93.362 | −0.078% | $48.4M | $55.2M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.364 | −0.076% | $89.3M | $83.9M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.362 | −0.078% | $46.2M | $18.7M | 75x | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.387 | −0.051% | $7.2M | $10.6M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.339 | −0.103% | $28.7M | $56.3M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.507 | +0.077% | $7.5M | $48.3M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.469 | +0.036% | $350K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.507 | +0.077% | $677K | $2.7M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.417 | −0.019% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.364 | −0.076% | $469K | $2.8M | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.385 | −0.054% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.344 | −0.097% | $2.0M | $1.9M | 10x | as long as short |
| HTX HYPE-USDT | +0.0100% | 4h | 93.504 | +0.074% | $1.4M | $6.7M | 75x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.507 | +0.077% | $216K | $15K | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.345 | −0.097% | $18.2M | $43.2M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.384 | −0.055% | $395K | $159K | 20x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0120% | 1h | 93.440 | +0.005% | $4.7M | $6.1M | 50x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0152% / S +0.0022% | 1h | 93.385 | −0.054% | $1.4M | — | 100x | as long as short |
| Injective HYPE/USDC PERP | +0.0205% | 1h | 93.290 | −0.155% | $30K | $339K | 12x | as long as short |
| Deribit HYPE_USDC-PERPETUALlong | +0.0264% | 1h | 93.435 | long leg | $7.4M | $4.2M | 50x | |
| Reya HYPERUSDPERP | +0.0271% | 1h | 93.334 | −0.108% | $77K | $129K | 15x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.358 | −0.082% | $16.9M | $12.2M | 75x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0416% | 1h | 93.416 | −0.020% | $20.8M | $29.6M | 50x | as long as short |
| RISEx HYPE/USDC | +0.0559% | 1h | 93.388 | −0.050% | $3.2M | $6.4M | 20x | as long as short |
Perpl HYPE
gTrade (Gains Network) HYPE/USD
BingX HYPE-USDT
Bybit HYPEUSDT
Derive HYPE-PERP
Phoenix HYPE
Bitget HYPEUSDT
Paradex HYPE-USD-PERP
edgeX HYPEUSDC
Arcus HYPE-USD
Phemex HYPEUSDT
Lighter HYPE
Popdex HYPEUSDT
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Aster HYPEUSDT
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Gate HYPE_USDT
MEXC HYPE_USDT
KuCoin HYPEUSDTM
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
SunX HYPE-USDT
SoDEX HYPE-USD
HTX HYPE-USDT
Bulk HYPE-USD
Extended HYPE-USD
Aevo HYPE-PERP
Coinbase International HYPE-PERP-INTX
GMX HYPE/USD [WBTC.b-USDC]
Injective HYPE/USDC PERP
Reya HYPERUSDPERP
BloFin HYPE-USDT
Kraken Futures PF_HYPEUSD
RISEx HYPE/USDC