HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0995%/8h= −108.9% APRnext payment −$1.24 per $10,000 · paid last 24h −0.074%

Price spread now: Arcus against Lighter−0.123%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$90.089% of the position

Long on Lighter Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.102%−$10 on $10k

Price spread, last 7 days+0.105%+$10 · spread now −0.123%, 7d avg −0.045%

Together, before fees+0.003%+ Points / potential airdropLighter: Season 3 · farm board$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$30 a day on $10k at the current rate, and Arcus is 0.078% cheaper against Lighter than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.045%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.102% in total (about -10.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.24 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter HYPE	93.561	0.0096	pay 0.0012% / 1h	42m 03s	$16.4M	$61.5M	20x
Short	Arcus HYPE-USD	93.446	−0.0899	pay 0.0112% / 1h	42m 03s	$1.2M	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Lighter. 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 LighterbpFee ArcusbpOrdersPrice spread, now −0.123%Rate

Funding earned: −$208.86
Price spread: −0.123% → −0.045%: −$7.83
Slippage, 4 orders: −$4.42
Fee Lighter: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$225.61
Costs to cover: 0.089%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Arcus: live order book, 2 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 Lighter live order book, 7 min ago	0.77 bp	0.8 bp −$1	1.5 bp −$15	11.6 bp −$1,159	46.3 bp −$23.2K
Sell Arcus live order book, 2 min ago	0.32 bp	3.5 bp −$3	4.4 bp −$44	202.0 bp −$20.2K	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	−0.1240%	1h	93.378	−0.196%	$196K	$226K	7x	as long as short
Arcus HYPE-USDshort	−0.0899%	1h	93.446	−0.123%	$1.2M	$3.8M	10x
Bluefin HYPE-PERP	−0.0178%	1h	93.498	−0.067%	$79K	$170K	20x	as long as short
Phemex HYPEUSDT	−0.0102%	8h	93.519	−0.045%	$12.6M	$2.7M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.485	−0.081%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0045%	4h	93.518	−0.046%	$156K	$629K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0041%	1h	93.435	−0.135%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.554	−0.007%	$85K	$345K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0010%	1h	93.500	−0.065%	$698K	$981K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.522	−0.041%	$128K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.568	+0.008%	$23K	$322K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.550	−0.012%	$62K	—	150x	as long as short
Aster HYPEUSDT	+0.0020%	4h	93.567	+0.007%	$8.8M	$35.6M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.549	−0.013%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0026%	4h	93.508	−0.057%	—	$53.0M	—	as long as short
Bybit HYPEUSDT	+0.0034%	8h	93.413	−0.158%	$322.2M	$277.0M	75x	as long as short
Bullet HYPE-USD	+0.0042%	1h	93.546	−0.016%	$112K	$578K	20x	as long as short
Gate HYPE_USDT	+0.0054%	4h	93.530	−0.033%	$44.6M	$54.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0078%	8h	93.497	−0.068%	$114.5M	$302.5M	50x	as long as short
Lighter HYPElong	+0.0096%	1h	93.561	long leg	$16.4M	$61.5M	20x
Lighter RH HYPE	+0.0096%	1h	93.551	−0.011%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.549	−0.013%	$69K	$1.2M	50x	as long as short
MEXC HYPE_USDT	+0.0096%	4h	93.535	−0.028%	$89.9M	$80.5M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.616	+0.058%	$340K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0099%	4h	93.527	−0.037%	$5.1M	$30.0M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.570	+0.010%	$19K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.579	+0.020%	$5.8M	$43.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.607	+0.049%	$2.04B	$655.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.616	+0.059%	$10.1M	$14.6M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.463	−0.104%	$379.3M	$877.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.580	+0.020%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.532	−0.031%	$46.0M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.504	−0.061%	$226.1M	$96.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.471	−0.096%	$7.4M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.339	−0.238%	$31.1M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.288	−0.292%	$7.5M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.588	+0.029%	$340K	$999K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.522	−0.042%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.596	+0.038%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.567	+0.006%	$473K	$2.5M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.508	−0.056%	$16.2M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.616	+0.059%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.524	−0.040%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.491	−0.075%	$18.4M	$43.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.529	−0.034%	$398K	$163K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.590	+0.031%	$4.9M	$5.4M	50x	as long as short
HTX HYPE-USDT	+0.0202%	4h	93.738	+0.189%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0257%	1h	93.528	−0.036%	$80K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0279%	8h	93.609	+0.051%	$1.9M	$5.1M	2.3x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0306%	1h	93.595	+0.036%	$7.5M	$4.4M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0156%	1h	93.557	−0.005%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0337%	4h	93.577	+0.017%	$17.0M	$11.7M	75x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.644	+0.089%	$3.2M	$6.5M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.350	−0.226%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0684%	1h	93.592	+0.034%	$20.8M	$30.1M	50x	as long as short