HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0176%/8h= +19.3% APRnext payment +$0.22 per $10,000 · paid last 24h +0.036%

Price spread now: Reya against Lighter+0.002%7-day average −0.049% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.005%+$1 on $10k

Price spread, last 4 days (all we have)+0.140%+$14 · spread now +0.002%, 7d avg −0.049%

Together, before fees+0.145%+ Points / potential airdropLighter: Season 3 · Reya: Active · farm board+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Reya is 0.051% dearer against Lighter than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter HYPE	94.387	0.0096	pay 0.0012% / 1h	7m 03s	$16.3M	$64.4M	20x
Short	Reya HYPERUSDPERP	94.388	0.0272	get 0.0034% / 1h	7m 03s	$83K	$134K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.002%Rate

Funding earned: $36.94
Price spread: +0.002% → −0.049%: $5.07
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: $36.01
Costs to cover: 0.060%
Break-even: 0.2 days

Slippage unknown: Lighter: live order book, 7 min ago; Reya: no order-book sample. Net counts fees only.

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	0.26 bp	1.3 bp −$1	2.3 bp −$23	11.0 bp −$1,101	42.0 bp −$21.0K
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HYPE on 54 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	−0.1128%	1h	94.272	−0.122%	$200K	$234K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0158%	1h	94.298	−0.094%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0098%	1h	94.320	−0.071%	$710K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.392	+0.006%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0068%	1h	94.418	+0.033%	$111K	$578K	20x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	94.376	−0.011%	$87K	$366K	20x	as long as short
Bluefin HYPE-PERP	−0.0033%	1h	94.398	+0.012%	$80K	$155K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0012%	4h	94.383	−0.004%	$146K	$686K	20x	as long as short
Bybit HYPEUSDT	−0.0005%	8h	94.350	−0.039%	$317.9M	$289.4M	75x	as long as short
BingX HYPE-USDT	−0.0004%	4h	94.364	−0.024%	—	$53.5M	—	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	94.405	+0.019%	$129K	$26K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.463	+0.081%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.421	+0.036%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.424	+0.040%	$117K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.223	−0.173%	$209K	$1.1M	10x	as long as short
Phemex HYPEUSDT	+0.0053%	8h	94.363	−0.025%	$12.9M	$2.9M	50x	as long as short
Bitget HYPEUSDT	+0.0054%	4h	94.340	−0.049%	$227.0M	$99.9M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0071%	8h	94.410	+0.025%	$337K	$156K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.348	−0.041%	$1.0M	$3.5M	10x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	94.169	−0.230%	$5.0M	$30.7M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0095%	8h	94.351	−0.038%	$116.5M	$320.4M	50x	as long as short
Lighter HYPElong	+0.0096%	1h	94.387	long leg	$16.3M	$64.4M	20x
Lighter RH HYPE	+0.0096%	1h	94.383	−0.004%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.358	−0.030%	$80K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.390	+0.004%	$15K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.358	−0.031%	$7.3M	$50.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.460	+0.078%	$2.08B	$687.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.374	−0.013%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.388	+0.001%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.369	−0.019%	$377.7M	$931.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.183	−0.216%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.363	−0.025%	$49.4M	$57.1M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.372	−0.015%	$90.0M	$85.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.381	−0.006%	$46.9M	$18.5M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.343	−0.046%	$7.6M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.138	−0.264%	$29.1M	$55.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.264	−0.130%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.207	−0.190%	$362K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.316	−0.075%	$682K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.428	+0.044%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.436	+0.052%	$496K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.451	+0.068%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.399	+0.013%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.550	+0.173%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.382	−0.005%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.422	+0.037%	$399K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.400	+0.014%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.468	+0.086%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.310	−0.081%	$30K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0258%	1h	94.492	+0.112%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERPshort	+0.0272%	1h	94.388	+0.002%	$83K	$134K	15x
BloFin HYPE-USDT	+0.0340%	4h	94.367	−0.021%	$17.0M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0412%	1h	94.448	+0.065%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.406	+0.021%	$3.2M	$6.4M	20x	as long as short