HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1424%/8h= −155.9% APRnext payment −$1.78 per $10,000 · paid last 24h −0.263%

Price spread now: Hibachi against Lighter−0.176%7-day average −0.104% · you buy dearer than you sell

Net, funding: paid 7d − costs−$231as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$610.612% of the position

Long on Lighter Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−1.693%−$169 on $10k

Price spread, last 4 days (all we have)+0.270%+$27 · spread now −0.176%, 7d avg −0.104%

Together, before fees−1.423%+ Points / potential airdropLighter: Season 3 · Hibachi: Active · farm board−$142 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$43 a day on $10k at the current rate, and Hibachi is 0.072% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.104%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter HYPE	94.221	0.0096	pay 0.0012% / 1h	12m 25s	$16.4M	$63.6M	20x
Short	Hibachi HYPE/USDT-P	94.055	−0.1328	pay 0.0166% / 1h	12m 25s	$199K	$239K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now −0.176%Rate

Funding earned: −$299.04
Price spread: −0.176% → −0.104%: −$7.2
Slippage, 4 orders: −$52.22
Fee Lighter: 0 bp × 2 orders: $0
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$367.46
Costs to cover: 0.612%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Hibachi: live order book, 36 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	0.93 bp	1.0 bp −$1	3.6 bp −$36	13.3 bp −$1,326	39.6 bp −$19.8K
Sell Hibachi live order book, 36 min ago	24.38 bp	28.9 bp −$29	48.6 bp −$486	doesn't fit	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-Pshort	−0.1328%	1h	94.055	−0.176%	$199K	$239K	7x
Aftermath Perps HYPEUSD	−0.0387%	1h	94.011	−0.224%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.149	−0.077%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0015%	1h	94.266	+0.048%	$112K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0015%	4h	94.262	+0.043%	$147K	$677K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.186	−0.037%	$129K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	94.225	+0.004%	$86K	$372K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.290	+0.072%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	94.296	+0.080%	$63K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	94.202	−0.020%	$1.1M	$4.0M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0021%	8h	94.270	+0.052%	$319.2M	$285.6M	75x	as long as short
Bitget HYPEUSDT	+0.0022%	4h	94.307	+0.091%	$227.5M	$99.2M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	94.200	−0.023%	$209K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0027%	8h	94.145	−0.081%	$12.8M	$2.8M	50x	as long as short
Ondo Perps HYPE-USD.P	+0.0066%	1h	94.080	−0.150%	$709K	$1.2M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	94.230	+0.009%	$342K	$158K	20x	as long as short
Lighter HYPElong	+0.0096%	1h	94.221	long leg	$16.4M	$63.6M	20x
Lighter RH HYPE	+0.0096%	1h	94.204	−0.018%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.254	+0.035%	$72K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.180	−0.044%	$28K	$1.7M	10x	as long as short
edgeX HYPEUSDC	+0.0100%	4h	94.090	−0.139%	$5.0M	$30.2M	30x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.213	−0.008%	$7.2M	$48.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.307	+0.091%	$2.06B	$678.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.272	+0.054%	$8.8M	$36.6M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.254	+0.035%	$10.2M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.275	+0.057%	$378.3M	$921.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.296	+0.079%	$116.4M	$316.4M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.260	+0.041%	$48.1M	$55.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.259	+0.040%	$90.1M	$82.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.237	+0.017%	$46.5M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.245	+0.025%	—	$53.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.229	+0.008%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.099	−0.129%	$28.9M	$56.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.125	−0.102%	$7.7M	$48.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.113	−0.115%	$337K	$998K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.142	−0.084%	$674K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.288	+0.071%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.252	+0.033%	$478K	$2.8M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.291	+0.074%	$80K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	94.277	+0.059%	$16.2M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.244	+0.024%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.185	−0.039%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.333	+0.119%	$1.4M	$6.6M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.197	−0.025%	$217K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.191	−0.032%	$18.3M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.298	+0.082%	$399K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0120%	8h	94.246	+0.026%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	94.310	+0.094%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.220	−0.001%	$4.7M	$6.1M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0153%	1h	94.254	+0.035%	$7.5M	$4.1M	50x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	94.197	−0.025%	$77K	$130K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	94.281	+0.063%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0338%	1h	94.260	+0.041%	$21.0M	$29.6M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.169	−0.056%	$16.8M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	94.279	+0.062%	$3.2M	$6.3M	20x	as long as short