Funding you earn now, next payment 06:00 UTC+0.0245%/8h= +26.8% APRnext payment +$0.31 per $10,000 · paid last 24h +0.033%
Price spread now: Kraken Futures against Lighter+0.105%7-day average 0.000% · you sell dearer than you buy
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs−$12as in the Price arb table
costs, in and out, $10k−$230.230% of the position
Funding, last 7 days+0.128%+$13 on $10k
+Price spread, last 4 days (all we have)−0.100%−$10 · spread now +0.105%, 7d avg 0.000%
=Together, before fees+0.028%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Kraken Futures is 0.105% dearer against Lighter than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of 0.000%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.128% in total (about 6.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.31 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 | 93.382 | 0.0096 | pay 0.0012% / 1h | 36m 20s | $16.1M | $63.1M | 20x |
| Short | Kraken Futures PF_HYPEUSD | 93.479 | 0.0341 | get 0.0043% / 1h | 36m 20s | $20.8M | $29.6M | 50x |
Lighter HYPE
Kraken Futures PF_HYPEUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $51.4
- Price spread: +0.105% → 0.000%
- $10.48
- Slippage, 4 orders
- −$12.96
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $38.92
- Costs to cover
- 0.230%
- Break-even
- 1.7 days
Slippage from Lighter: live order book, 8 min ago; Kraken Futures: live order book, 3 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, 8 min ago | 0.44 bp | 0.8 bp −$1 | 1.8 bp −$18 | 11.7 bp −$1,173 | 44.2 bp −$22.1K |
| Sell Kraken Futures live order book, 3 min ago | 2.14 bp | 9.7 bp −$10 | 12.4 bp −$124 | 20.5 bp −$2,054 | 58.1 bp −$29.1K |
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 | −0.1664% | 1h | 93.244 | −0.147% | $196K | $234K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0378% | 1h | 93.333 | −0.052% | $22K | $21K | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.358 | −0.025% | $3K | $331 | 25x | as long as short |
| Bullet HYPE-USD | −0.0079% | 1h | 93.385 | +0.004% | $111K | $578K | 20x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0022% | 4h | 93.395 | +0.014% | $146K | $663K | 20x | as long as short |
| 01 Exchange HYPEUSD | −0.0016% | 1h | 93.423 | +0.044% | $88K | $366K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.377 | −0.005% | $128K | $29K | 5x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.433 | +0.056% | $22K | $290K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0002% | 1h | 93.413 | +0.034% | $62K | — | 150x | as long as short |
| Arcus HYPE-USD | +0.0011% | 1h | 93.355 | −0.028% | $1.0M | $4.0M | 10x | as long as short |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Hotstuff HYPE-PERP
Bullet HYPE-USD
Orderly PERP_HYPE_USDC
01 Exchange HYPEUSD
dYdX HYPE-USD
Perpl HYPE
gTrade (Gains Network) HYPE/USD
Arcus HYPE-USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget HYPEUSDT | +0.0016% | 4h | 93.391 | +0.010% | $225.7M | $98.9M | 75x | as long as short |
| Ondo Perps HYPE-USD.P | +0.0019% | 1h | 93.170 | −0.226% | $702K | $1.2M | 10x | as long as short |
| Bybit HYPEUSDT | +0.0021% | 8h | 93.382 | +0.001% | $317.3M | $283.8M | 75x | as long as short |
| Phoenix HYPE | +0.0026% | 1h | 93.305 | −0.082% | $209K | $1.2M | 10x | as long as short |
| Phemex HYPEUSDT | +0.0037% | 8h | 93.447 | +0.070% | $12.6M | $2.7M | 50x | as long as short |
| edgeX HYPEUSDC | +0.0093% | 4h | 93.126 | −0.273% | $4.9M | $30.0M | 30x | as long as short |
| Paradex HYPE-USD-PERP | +0.0095% | 8h | 93.416 | +0.037% | $340K | $162K | 20x | as long as short |
| Lighter HYPElong | +0.0096% | 1h | 93.382 | long leg | $16.1M | $63.1M | 20x | |
| Lighter RH HYPE | +0.0096% | 1h | 93.387 | +0.006% | $3.1M | $11.4M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.383 | +0.002% | $76K | $1.2M | 50x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.360 | −0.023% | $28K | $1.7M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.369 | −0.013% | $8.0M | $48.5M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.430 | +0.052% | $2.03B | $668.5M | 10x | as long as short |
| Aster HYPEUSDT | +0.0100% | 4h | 93.387 | +0.006% | $8.7M | $36.5M | 300x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.409 | +0.030% | $10.1M | $15.4M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 93.413 | +0.033% | $374.3M | $914.0M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.387 | +0.006% | $114.5M | $309.6M | 50x | as long as short |
| Gate HYPE_USDT | +0.0100% | 4h | 93.391 | +0.010% | $46.7M | $54.2M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 93.403 | +0.023% | $89.9M | $80.9M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.377 | −0.005% | $46.1M | $18.9M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.388 | +0.007% | — | $53.9M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.380 | −0.002% | $7.3M | $10.6M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.140 | −0.259% | $28.5M | $56.6M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.194 | −0.200% | $7.5M | $47.0M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.132 | −0.267% | $342K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.336 | −0.049% | $668K | $2.9M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.425 | +0.046% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.406 | +0.026% | $484K | $2.7M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.383 | +0.002% | $79K | $166K | 20x | as long as short |
| Derive HYPE-PERP | +0.0100% | 1h | 93.372 | −0.010% | $16.1M | $7.5M | 10x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.385 | +0.004% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.402 | +0.022% | $2.0M | $1.9M | 10x | as long as short |
| HTX HYPE-USDT | +0.0100% | 4h | 93.600 | +0.234% | $1.4M | $6.5M | 75x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.344 | −0.040% | $215K | $15K | 10x | as long as short |
| Kalshi KXHYPEPERP | +0.0103% | 8h | 93.376 | −0.006% | $1.8M | $5.7M | 2.3x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.367 | −0.015% | $18.1M | $43.2M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 93.398 | +0.018% | $395K | $161K | 20x | as long as short |
| Injective HYPE/USDC PERP | +0.0122% | 1h | 93.290 | −0.098% | $30K | $339K | 12x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0144% | 1h | 93.490 | +0.116% | $4.8M | $5.6M | 50x | as long as short |
| Reya HYPERUSDPERP | +0.0268% | 1h | 93.376 | −0.006% | $80K | $131K | 15x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0332% / S −0.0154% | 1h | 93.404 | +0.024% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 93.342 | −0.042% | $16.9M | $11.9M | 75x | as long as short |
| Kraken Futures PF_HYPEUSDshort | +0.0341% | 1h | 93.479 | +0.105% | $20.8M | $29.6M | 50x | |
| Deribit HYPE_USDC-PERPETUAL | +0.0424% | 1h | 93.487 | +0.113% | $7.5M | $4.0M | 50x | as long as short |
| RISEx HYPE/USDC | +0.0527% | 1h | 93.448 | +0.071% | $3.2M | $6.2M | 20x | as long as short |
Bitget HYPEUSDT
Ondo Perps HYPE-USD.P
Bybit HYPEUSDT
Phoenix HYPE
Phemex HYPEUSDT
edgeX HYPEUSDC
Paradex HYPE-USD-PERP
Lighter RH HYPE
Popdex HYPEUSDT
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Aster HYPEUSDT
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Gate HYPE_USDT
MEXC HYPE_USDT
KuCoin HYPEUSDTM
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
Derive HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
HTX HYPE-USDT
Bulk HYPE-USD
Kalshi KXHYPEPERP
Extended HYPE-USD
Aevo HYPE-PERP
Injective HYPE/USDC PERP
Coinbase International HYPE-PERP-INTX
Reya HYPERUSDPERP
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
Deribit HYPE_USDC-PERPETUAL
RISEx HYPE/USDC