HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.1416%/8h= +155.1% APRnext payment +$1.77 per $10,000 · paid last 24h +0.282%

Price spread now: Lighter against Hibachi+0.052%7-day average +0.101% · you sell dearer than you buy

Net, funding: paid 7d − costs+$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$600.598% of the position

Long on Hibachi Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+1.722%+$172 on $10k

Price spread, last 4 days (all we have)−0.571%−$57 · spread now +0.052%, 7d avg +0.101%

Together, before fees+1.151%+ Points / potential airdropHibachi: Active · Lighter: Season 3 · farm board+$115 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.049% cheaper against Hibachi than usual: you would sell low and buy high (spread +0.052% now, against its 7-day average of +0.101%). If the spread goes back, that is −$5 on $10k: about 3 hours of funding at the current rate (+$42 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi HYPE/USDT-P	94.754	−0.1320	get 0.0165% / 1h	48m 07s	$208K	$268K	7x
Short	Lighter HYPE	94.804	0.0096	get 0.0012% / 1h	48m 07s	$16.3M	$62.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Hibachi. 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 HibachibpFee LighterbpOrdersPrice spread, now +0.052%Rate

Funding earned: $297.36
Price spread: +0.052% → +0.101%: −$4.87
Slippage, 4 orders: −$50.77
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: $232.72
Costs to cover: 0.598%
Break-even: 1.5 days

Slippage from Hibachi: live order book, 51 min ago; Lighter: live order book, 6 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 Hibachi live order book, 51 min ago	17.49 bp	34.1 bp −$34	54.2 bp −$542	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	0.28 bp	0.8 bp −$1	3.6 bp −$36	13.0 bp −$1,303	43.4 bp −$21.7K

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
Hibachi HYPE/USDT-Plong	−0.1320%	1h	94.754	long leg	$208K	$268K	7x
Bluefin HYPE-PERP	−0.0390%	1h	94.763	+0.009%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0315%	1h	94.788	+0.036%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0183%	1h	94.803	+0.052%	$112K	$577K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.741	−0.014%	$1.0M	$3.5M	10x	as long as short
01 Exchange HYPEUSD	−0.0088%	1h	94.837	+0.087%	$89K	$365K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.940	+0.196%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0057%	1h	94.680	−0.078%	$715K	$1.3M	10x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.784	+0.031%	$19.3M	$34.5M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	94.776	+0.023%	$147K	$685K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	94.698	−0.059%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.763	+0.009%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.773	+0.020%	$19K	$286K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.830	+0.080%	$85K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.810	+0.059%	$209K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0014%	4h	94.820	+0.070%	$227.7M	$99.9M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.750	−0.004%	$4.8M	$6.3M	50x	as long as short
Derive HYPE-PERP	+0.0051%	1h	94.682	−0.076%	$16.4M	$7.4M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0052%	8h	94.713	−0.043%	$338K	$154K	20x	as long as short
Vest HYPE-PERP	+0.0061%	1h	94.826	+0.076%	—	$190K	5x	as long as short
OKX HYPE-USDT-SWAP	+0.0064%	8h	94.791	+0.039%	$118.4M	$329.1M	50x	as long as short
SoDEX HYPE-USD	+0.0083%	1h	94.781	+0.028%	$2.1M	$2.0M	10x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	94.791	+0.039%	$5.0M	$30.7M	30x	as long as short
Lighter HYPEshort	+0.0096%	1h	94.804	+0.052%	$16.3M	$62.1M	20x
Lighter RH HYPE	+0.0096%	1h	94.805	+0.054%	$3.2M	$10.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.797	+0.045%	$147K	$1.3M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.740	−0.015%	$43K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.787	+0.035%	$7.3M	$52.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.901	+0.155%	$2.09B	$691.8M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.791	+0.039%	$9.6M	$37.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.708	−0.049%	$10.2M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.807	+0.056%	$381.4M	$937.6M	75x	as long as short
Bybit HYPEUSDT	+0.0100%	8h	94.805	+0.054%	$317.6M	$292.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.690	−0.068%	$221K	$14K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.833	+0.083%	$51.1M	$54.1M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.806	+0.055%	$93.9M	$85.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.813	+0.062%	$47.3M	$19.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.792	+0.040%	—	$53.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.779	+0.026%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.809	+0.058%	$30.0M	$55.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.848	+0.100%	$7.7M	$44.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.799	+0.047%	$352K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.762	+0.008%	$695K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.830	+0.080%	$500K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.916	+0.171%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.882	+0.135%	$1.4M	$6.9M	75x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	94.821	+0.071%	$12.9M	$2.9M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.767	+0.013%	$18.6M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.884	+0.137%	$401K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.782	+0.029%	$3.1M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.170	+0.439%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0246%	1h	94.900	+0.154%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.738	−0.017%	$83K	$115K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	94.836	+0.086%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.724	−0.032%	$17.2M	$12.4M	75x	as long as short