HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h −0.004%

Price spread now: Popdex against Lighter−0.061%7-day average −0.019% · 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−$14as in the Price arb table

costs, in and out, $10k−$100.098% of the position

Long on Lighter Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.010%−$1 on $10k

Price spread, last 7 days+0.022%+$2 · spread now −0.061%, 7d avg −0.019%

Together, before fees+0.013%+ Points / potential airdropLighter: Season 3 · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Popdex is 0.041% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.019%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter HYPE	93.349	0.0096	pay 0.0012% / 1h	8m 54s	$18.6M	$59.0M	20x
Short	Popdex HYPEUSDT	93.292	0	get 0.0000% / 1h	8m 54s	$58K	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.061%Rate

Funding earned: −$20.16
Price spread: −0.061% → −0.019%: −$4.11
Slippage, 4 orders: −$3.43
Fee Lighter: 0 bp × 2 orders: $0
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$34.1
Costs to cover: 0.098%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Popdex: live order book, just now.

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, 5 min ago	0.75 bp	0.8 bp −$1	1.6 bp −$16	10.8 bp −$1,076	38.2 bp −$19.1K
Sell Popdex live order book, just now	0.86 bp	4.1 bp −$4	4.7 bp −$47	18.9 bp −$1,890	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
Aftermath Perps HYPEUSD	−0.0461%	1h	93.255	−0.100%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0392%	1h	93.204	−0.155%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.197	−0.162%	$1.2M	$3.9M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0124%	1h	93.160	−0.202%	$699K	$895K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.262	−0.093%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.319	−0.032%	$90K	$358K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.308	−0.043%	$127K	$32K	5x	as long as short
Popdex HYPEUSDTshort	0.0000%	1h	93.292	−0.061%	$58K	$1.2M	50x
Perpl HYPE	0.0000%	43m	93.301	−0.051%	$23K	$330K	10x	as long as short
Aster HYPEUSDT	+0.0002%	4h	93.288	−0.065%	$8.9M	$35.7M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.320	−0.031%	$27K	—	150x	as long as short
Orderly PERP_HYPE_USDC	+0.0017%	4h	93.303	−0.049%	$176K	$524K	20x	as long as short
Bybit HYPEUSDT	+0.0022%	8h	93.290	−0.063%	$323.1M	$282.8M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.306	−0.046%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0050%	1h	93.286	−0.067%	$112K	$578K	20x	as long as short
Derive HYPE-PERP	+0.0050%	1h	93.255	−0.100%	$16.3M	$7.0M	10x	as long as short
Gate HYPE_USDT	+0.0062%	4h	93.295	−0.057%	$44.0M	$58.8M	75x	as long as short
MEXC HYPE_USDT	+0.0062%	4h	93.304	−0.048%	$90.2M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0063%	4h	93.305	−0.046%	$383.0M	$888.9M	75x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.250	−0.105%	$5.1M	$29.6M	30x	as long as short
Lighter HYPElong	+0.0096%	1h	93.349	long leg	$18.6M	$59.0M	20x
Lighter RH HYPE	+0.0096%	1h	93.331	−0.019%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.301	−0.051%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.268	−0.087%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.300	−0.052%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.266	−0.089%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.319	−0.032%	$2.03B	$661.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.297	−0.055%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.286	−0.067%	$114.2M	$313.1M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.320	−0.031%	$47.0M	$18.5M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.307	−0.044%	$226.3M	$102.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.295	−0.057%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.326	−0.024%	$7.8M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.212	−0.146%	$30.8M	$51.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.339	−0.011%	$7.5M	$45.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.280	−0.073%	$415K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.222	−0.136%	$674K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.314	−0.037%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.302	−0.050%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.303	−0.049%	$75K	$166K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.311	−0.040%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.297	−0.055%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.299	−0.053%	$12.7M	$2.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.280	−0.073%	$204K	$8K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.284	−0.069%	$18.2M	$41.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0117%	8h	93.365	+0.018%	$1.9M	$5.2M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.270	−0.084%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0222%	4h	93.452	+0.111%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.530	+0.194%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.288	−0.065%	$77K	$159K	15x	as long as short
BloFin HYPE-USDT	+0.0250%	4h	93.270	−0.084%	$16.9M	$12.4M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.327	−0.023%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.316	−0.034%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0425%	1h	93.391	+0.046%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.422	+0.079%	$20.9M	$28.9M	50x	as long as short