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Funding arb · Price arb /

HYPE

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.019%
Price spread now: Lighter RH against GRVT+0.077%49s7-day average −0.017% · you sell dearer than you buy
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$140.139% of the position
Long on GRVTShort on Lighter RH
What this pair did over the last
the charts below follow
Funding, last 7 days−0.045%−$4 on $10k
Price spread, last 7 days−0.056%−$6 · spread now +0.077%, 7d avg −0.017%
Together, before fees−0.101%+ Points / potential airdropGRVT: Active · Lighter RH: Points live · farm board−$10 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 RH is 0.094% dearer against GRVT than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.017%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGRVT HYPE_USDT_Perp93.8240.0100pay 0.0050% / 4h2h 26m$7.6M$47.7M10x
ShortLighter RH HYPE93.8960.0096get 0.0012% / 1h26m 22s$3.1M$11.9M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter RH against GRVT. 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

Funding earned
−$0.84
Price spread: +0.077% → −0.017%
$9.38
Slippage, 4 orders
−$4.93
Fee GRVT: 4.5 bp × 2 orders
−$9
Fee Lighter RH: 0 bp × 2 orders
$0
Net
−$5.39
Costs to cover
0.139%
Break-even
never at this rate
Slippage from GRVT: live order book, 3 min ago; Lighter RH: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy GRVT live order book, 3 min ago0.05 bp5.0 bp −$56.1 bp −$611588.5 bp −$158.8Kdoesn't fit
Sell Lighter RH live order book, 2 min ago0.11 bp0.2 bp $01.5 bp −$1527.0 bp −$2,704doesn't fit

HYPE on 54 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.0920%1h93.818−0.007%$197K$229K7xas long as short
Arcus HYPE-USD−0.0786%1h93.821−0.003%$1.2M$3.8M10xas long as short
Phemex HYPEUSDT−0.0156%8h93.853+0.031%$12.7M$2.7M50xas long as short
Aftermath Perps HYPEUSD−0.0134%1h93.748−0.081%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0081%1h93.860+0.038%$703K$937K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.872+0.051%$3K$33125xas long as short
Orderly PERP_HYPE_USDC−0.0057%4h93.919+0.101%$157K$646K20xas long as short
01 Exchange HYPEUSD−0.0048%1h93.946+0.130%$85K$350K20xas long as short
Backpack HYPE_USDC_PERP−0.0044%1h93.821−0.003%$7.8M$10.3M20xas long as short
Gate HYPE_USDT−0.0030%4h93.955+0.140%$44.5M$55.0M75xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX HYPE-USDT−0.0002%4h93.941+0.125%—$53.7M—as long as short
Aster HYPEUSDT−0.0001%4h93.931+0.114%$8.9M$35.9M300xas long as short
dYdX HYPE-USD0.0000%1h93.869+0.048%$129K$31K5xas long as short
Perpl HYPE0.0000%43m93.962+0.147%$22K$326K10xas long as short
Bybit HYPEUSDT+0.0002%8h93.932+0.115%$322.6M$281.2M75xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.969+0.154%$26K—150xas long as short
Phoenix HYPE+0.0060%1h93.904+0.085%$211K$1.2M10xas long as short
MEXC HYPE_USDT+0.0066%4h93.956+0.141%$88.0M$82.9M100xas long as short
Binance HYPEUSDT+0.0068%4h93.934+0.117%$382.3M$893.6M75xas long as short
OKX HYPE-USDT-SWAP+0.0068%8h93.936+0.119%$115.5M$309.3M50xas long as short
edgeX HYPEUSDC+0.0071%4h93.800−0.025%$5.1M$29.9M30xas long as short
Bullet HYPE-USD+0.0072%1h93.934+0.117%$112K$578K20xas long as short
Paradex HYPE-USD-PERP+0.0095%8h93.955+0.140%$341K$164K20xas long as short
Lighter HYPE+0.0096%1h93.901+0.082%$16.4M$62.5M20xas long as short
Lighter RH HYPEshort+0.0096%1h93.896+0.077%$3.1M$11.9M20x
Popdex HYPEUSDT+0.0096%1h93.928+0.111%$67K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.961+0.146%$400K$177K20xas long as short
Derive HYPE-PERP+0.0100%1h93.923+0.105%$16.3M$7.7M10xas long as short
Katana Perps HYPE-USD+0.0100%8h93.930+0.113%$21K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.904+0.086%$5.8M$45.1M10xas long as short
Hyperliquid HYPE+0.0100%1h94.057+0.248%$2.05B$672.5M10xas long as short
Pacifica HYPE+0.0100%1h93.919+0.101%$10.1M$14.7M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.956+0.141%$46.5M$18.1M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.950+0.134%$227.7M$98.6M75xas long as short
Variational Omni HYPE+0.0100%8h93.910+0.091%$31.1M$54.7M—as long as short
GRVT HYPE_USDT_Perplong+0.0100%4h93.824long leg$7.6M$47.7M10x
ApeX Omni HYPEUSDT+0.0100%1h93.834+0.011%$339K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.938+0.122%$670K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.981+0.168%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.974+0.160%$475K$2.4M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.920+0.102%$80K$172K20xas long as short
SunX HYPE-USDT+0.0100%4h93.969+0.155%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.859+0.037%$2.0M$1.9M10xas long as short
Bulk HYPE-USD+0.0100%1h93.880+0.060%$204K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.892+0.073%$18.3M$44.4M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.960+0.145%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.920+0.102%$31K$339K12xas long as short
RISEx HYPE/USDC+0.0210%1h93.994+0.181%$3.2M$7.0M20xas long as short
HTX HYPE-USDT+0.0218%4h94.130+0.326%$1.4M$5.9M75xas long as short
Reya HYPERUSDPERP+0.0255%1h93.947+0.131%$80K$140K15xas long as short
Kalshi KXHYPEPERP+0.0272%8h93.955+0.140%$1.9M$4.9M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0156%1h93.969+0.155%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0357%1h93.959+0.144%$7.5M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0679%1h93.949+0.134%$21.0M$29.8M50xas long as short