HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0143%/8h= +15.7% APRnext payment +$0.18 per $10,000 · paid last 24h −0.041%

Price spread now: Lighter against Kraken Futures−0.037%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$230.225% of the position

Long on Kraken Futures Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.147%−$15 on $10k

Price spread, last 4 days (all we have)+0.398%+$40 · spread now −0.037%, 7d avg −0.002%

Together, before fees+0.251%+ Points / potential airdropLighter: Season 3 · farm board+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.035% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.037% now, against its 7-day average of −0.002%). If the spread goes back, that is −$4 on $10k: about 20 hours of funding at the current rate (+$4 a day). Mind the row above: over the last 7 days funding on this pair cost −0.147%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_HYPEUSD	94.931	−0.0047	get 0.0006% / 1h	50m 17s	$20.3M	$30.3M	50x
Short	Lighter HYPE	94.896	0.0096	get 0.0012% / 1h	50m 17s	$16.3M	$61.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Kraken Futures. 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 Kraken FuturesbpFee LighterbpOrdersPrice spread, now −0.037%Rate

Funding earned: $30.08
Price spread: −0.037% → −0.002%: −$3.53
Slippage, 4 orders: −$12.51
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $4.04
Costs to cover: 0.225%
Break-even: 6.1 days

Slippage from Kraken Futures: live order book, 4 min ago; Lighter: live order book, 9 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 Kraken Futures live order book, 4 min ago	1.32 bp	8.7 bp −$9	11.1 bp −$111	18.9 bp −$1,894	56.3 bp −$28.1K
Sell Lighter live order book, 9 min ago	0.82 bp	1.1 bp −$1	2.1 bp −$21	12.5 bp −$1,255	45.1 bp −$22.6K

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	−0.1376%	1h	94.787	−0.152%	$208K	$268K	7x	as long as short
Bluefin HYPE-PERP	−0.0361%	1h	94.867	−0.068%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0316%	1h	94.776	−0.164%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0182%	1h	94.898	−0.034%	$113K	$576K	20x	as long as short
Phemex HYPEUSDT	−0.0141%	8h	94.854	−0.081%	$12.9M	$2.9M	50x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.846	−0.090%	$1.0M	$3.5M	10x	as long as short
01 Exchange HYPEUSD	−0.0096%	1h	94.930	−0.001%	$89K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.836	−0.100%	$3K	$331	25x	as long as short
Kraken Futures PF_HYPEUSDlong	−0.0047%	1h	94.931	long leg	$20.3M	$30.3M	50x
Ondo Perps HYPE-USD.P	−0.0047%	1h	94.740	−0.201%	$715K	$1.2M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0006%	4h	94.892	−0.041%	$148K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.808	−0.130%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	95.028	+0.102%	$1.9M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.851	−0.085%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.859	−0.076%	$85K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.810	−0.128%	$208K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0012%	4h	94.875	−0.059%	$227.5M	$99.7M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.940	+0.009%	$4.7M	$6.2M	50x	as long as short
Derive HYPE-PERP	+0.0022%	1h	94.691	−0.253%	$16.4M	$7.4M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0051%	8h	94.856	−0.079%	$339K	$154K	20x	as long as short
Vest HYPE-PERP	+0.0063%	1h	94.941	+0.010%	—	$190K	5x	as long as short
OKX HYPE-USDT-SWAP	+0.0063%	8h	94.886	−0.047%	$118.3M	$328.3M	50x	as long as short
SoDEX HYPE-USD	+0.0087%	1h	94.895	−0.038%	$2.1M	$1.9M	10x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	94.791	−0.148%	$5.0M	$30.7M	30x	as long as short
Lighter HYPEshort	+0.0096%	1h	94.896	−0.037%	$16.3M	$61.9M	20x
Lighter RH HYPE	+0.0096%	1h	94.898	−0.035%	$3.2M	$10.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.895	−0.038%	$147K	$1.3M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.860	−0.075%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.875	−0.059%	$7.3M	$52.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.000	+0.073%	$2.09B	$690.3M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.875	−0.059%	$9.6M	$37.5M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.871	−0.063%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.886	−0.048%	$381.8M	$934.1M	75x	as long as short
Bybit HYPEUSDT	+0.0100%	8h	94.880	−0.054%	$317.3M	$289.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.685	−0.260%	$219K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.909	−0.023%	$51.0M	$53.8M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.880	−0.054%	$93.9M	$85.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.884	−0.050%	$47.0M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.909	−0.023%	—	$53.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.763	−0.177%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.809	−0.128%	$30.0M	$55.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.848	−0.087%	$7.7M	$44.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.799	−0.139%	$352K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.833	−0.103%	$694K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.962	+0.033%	$501K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.022	+0.096%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.046	+0.121%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.870	−0.064%	$18.5M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.886	−0.048%	$401K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.896	−0.037%	$3.1M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.060	+0.136%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0234%	1h	94.991	+0.063%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.897	−0.036%	$83K	$115K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	94.957	+0.027%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.810	−0.128%	$17.2M	$12.5M	75x	as long as short