Funding you earn now, next payment 22:00 UTC+0.0079%/8h= +8.7% APRnext payment +$0.10 per $10,000 · paid last 24h +0.013%
Price spread now: Lighter against Derive+0.101%7-day average +0.069% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.007%+$1 on $10k
+Price spread, last 3 days (all we have)+0.063%+$6 · spread now +0.101%, 7d avg +0.069%
=Together, before fees+0.069%+ Points / potential airdropLighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.032% dearer against Derive than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.069%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive HYPE-PERP | 93.381 | 0.0017 | pay 0.0002% / 1h | 46m 33s | $16.4M | $7.1M | 10x |
| Short | Lighter HYPE | 93.476 | 0.0096 | get 0.0012% / 1h | 46m 33s | $18.5M | $59.4M | 20x |
Derive HYPE-PERP
Lighter HYPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Derive. 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
- $16.61
- Price spread: +0.101% → +0.069%
- $3.22
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $13.82
- Costs to cover
- 0.060%
- Break-even
- 1.2 days
Slippage unknown: Derive: no order-book sample; Lighter: live order book, 7 min ago. 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 Derive no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 7 min ago | 0.14 bp | 0.7 bp −$1 | 3.0 bp −$30 | 12.5 bp −$1,248 | 40.9 bp −$20.5K |
Derive: 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.
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 | −0.1256% | 1h | 93.344 | −0.040% | $197K | $233K | 7x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0186% | 1h | 93.330 | −0.055% | $701K | $943K | 10x | as long as short |
| Aftermath Perps HYPEUSD | −0.0165% | 1h | 93.409 | +0.029% | $22K | $22K | 10x | as long as short |
| 01 Exchange HYPEUSD | −0.0080% | 1h | 93.472 | +0.097% | $89K | $345K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.410 | +0.031% | $3K | $331 | 25x | as long as short |
| Bullet HYPE-USD | −0.0001% | 1h | 93.419 | +0.040% | $112K | $583K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.504 | +0.131% | $127K | $33K | 5x | as long as short |
| Kalshi KXHYPEPERP | 0.0000% | 8h | 93.506 | +0.134% | $1.9M | $5.4M | 2.3x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.443 | +0.066% | $23K | $343K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0001% | 1h | 93.465 | +0.089% | $19K | — | 150x | as long as short |
Hibachi HYPE/USDT-P
Ondo Perps HYPE-USD.P
Aftermath Perps HYPEUSD
01 Exchange HYPEUSD
Hotstuff HYPE-PERP
Bullet HYPE-USD
dYdX HYPE-USD
Kalshi KXHYPEPERP
Perpl HYPE
gTrade (Gains Network) HYPE/USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster HYPEUSDT | +0.0014% | 4h | 93.417 | +0.038% | $8.9M | $36.2M | 300x | as long as short |
| Derive HYPE-PERPlong | +0.0017% | 1h | 93.381 | long leg | $16.4M | $7.1M | 10x | |
| Gate HYPE_USDT | +0.0024% | 4h | 93.454 | +0.078% | $44.2M | $56.3M | 75x | as long as short |
| Bybit HYPEUSDT | +0.0039% | 8h | 93.460 | +0.084% | $325.7M | $287.8M | 75x | as long as short |
| Phoenix HYPE | +0.0068% | 1h | 93.408 | +0.029% | $216K | $1.2M | 10x | as long as short |
| Orderly PERP_HYPE_USDC | +0.0076% | 4h | 93.457 | +0.081% | $180K | $536K | 20x | as long as short |
| ApeX Omni HYPEUSDT | +0.0092% | 1h | 93.318 | −0.068% | $405K | $1.1M | 50x | as long as short |
| Lighter HYPEshort | +0.0096% | 1h | 93.476 | +0.101% | $18.5M | $59.4M | 20x | |
| Lighter RH HYPE | +0.0096% | 1h | 93.457 | +0.081% | $3.1M | $12.3M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.448 | +0.071% | $56K | $1.2M | 50x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.500 | +0.127% | $40K | $1.7M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.418 | +0.040% | $6.0M | $44.3M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.475 | +0.100% | $2.04B | $669.1M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.456 | +0.080% | $10.0M | $14.5M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.447 | +0.070% | $386.0M | $888.3M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.459 | +0.083% | $114.8M | $315.6M | 50x | as long as short |
| Arcus HYPE-USD | +0.0100% | 1h | 93.433 | +0.055% | $1.2M | $4.0M | 10x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.335 | −0.049% | $204K | $12K | 10x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.450 | +0.074% | $93.1M | $81.9M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.403 | +0.023% | $46.3M | $19.4M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.450 | +0.074% | $227.0M | $102.0M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.452 | +0.076% | — | $54.3M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.423 | +0.045% | $7.9M | $11.7M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.295 | −0.092% | $28.8M | $49.8M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.407 | +0.028% | $7.5M | $46.2M | 10x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.504 | +0.131% | $676K | $2.4M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.486 | +0.112% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.471 | +0.096% | $494K | $2.6M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.424 | +0.046% | $76K | $169K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.469 | +0.094% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.409 | +0.030% | $2.0M | $2.0M | 10x | as long as short |
| Phemex HYPEUSDT | +0.0100% | 8h | 93.397 | +0.017% | $12.7M | $2.6M | 50x | as long as short |
| Paradex HYPE-USD-PERP | +0.0100% | 8h | 93.483 | +0.109% | $339K | $171K | 20x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.447 | +0.070% | $18.4M | $41.1M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.462 | +0.086% | $398K | $318K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0108% | 4h | 93.395 | +0.014% | $5.1M | $29.5M | 30x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0208% | 1h | 93.570 | +0.202% | $4.9M | $5.7M | 50x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0242% | 1h | 93.529 | +0.158% | $7.4M | $4.6M | 50x | as long as short |
| Reya HYPERUSDPERP | +0.0245% | 1h | 93.426 | +0.048% | $77K | $157K | 15x | as long as short |
| Injective HYPE/USDC PERP | +0.0285% | 1h | 93.360 | −0.023% | $30K | $231K | 12x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0339% / S −0.0165% | 1h | 93.466 | +0.091% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.408 | +0.029% | $17.1M | $12.5M | 75x | as long as short |
| HTX HYPE-USDT | +0.0391% | 4h | 93.650 | +0.288% | $1.5M | $7.6M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0467% | 1h | 93.518 | +0.146% | $2.7M | $6.8M | 20x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0573% | 1h | 93.501 | +0.128% | $19.2M | $25.9M | 50x | as long as short |
Aster HYPEUSDT
Gate HYPE_USDT
Bybit HYPEUSDT
Phoenix HYPE
Orderly PERP_HYPE_USDC
ApeX Omni HYPEUSDT
Lighter RH HYPE
Popdex HYPEUSDT
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Arcus HYPE-USD
Bulk HYPE-USD
MEXC HYPE_USDT
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Phemex HYPEUSDT
Paradex HYPE-USD-PERP
Extended HYPE-USD
Aevo HYPE-PERP
edgeX HYPEUSDC
Coinbase International HYPE-PERP-INTX
Deribit HYPE_USDC-PERPETUAL
Reya HYPERUSDPERP
Injective HYPE/USDC PERP
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
HTX HYPE-USDT
RISEx HYPE/USDC
Kraken Futures PF_HYPEUSD