Funding you earn now, next payment 06:00 UTC+0.0431%/8h= +47.1% APRnext payment +$0.54 per $10,000 · paid last 24h +0.055%
Price spread now: RISEx against Lighter+0.062%7-day average −0.027% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$3as in the Price arb table
costs, in and out, $10k−$120.118% of the position
Funding, last 4 days (all we have)+0.132%+$13 on $10k
+Price spread, last 7 days−0.074%−$7 · spread now +0.062%, 7d avg −0.027%
=Together, before fees+0.058%+ Points / potential airdropLighter: Season 3 · farm board+$6 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and RISEx is 0.089% dearer against Lighter than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.027%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.132% in total (about 13.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.54 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 | 94.221 | 0.0096 | pay 0.0012% / 1h | 12m 31s | $16.4M | $63.6M | 20x |
| Short | RISEx HYPE/USDC | 94.279 | 0.0527 | get 0.0066% / 1h | 12m 31s | $3.2M | $6.3M | 20x |
Lighter HYPE
RISEx HYPE/USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
RISEx 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
- $90.41
- Price spread: +0.062% → −0.027%
- $8.87
- Slippage, 4 orders
- −$5.8
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee RISEx: 3 bp × 2 orders
- −$6
- Net
- $87.48
- Costs to cover
- 0.118%
- Break-even
- 0.2 days
Slippage from Lighter: live order book, 7 min ago; RISEx: 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 | 0.93 bp | 1.0 bp −$1 | 3.6 bp −$36 | 13.3 bp −$1,326 | 39.6 bp −$19.8K |
| Sell RISEx live order book, 2 min ago | 1.70 bp | 4.7 bp −$5 | 6.1 bp −$61 | 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-P | −0.1328% | 1h | 94.055 | −0.176% | $199K | $239K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0391% | 1h | 93.960 | −0.277% | $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 | −0.0016% | 1h | 94.183 | −0.041% | $112K | $580K | 20x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0015% | 4h | 94.155 | −0.070% | $147K | $678K | 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 | 94.193 | −0.030% | $23K | $290K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0002% | 1h | 94.200 | −0.023% | $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 |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Hotstuff HYPE-PERP
Bullet HYPE-USD
Orderly PERP_HYPE_USDC
dYdX HYPE-USD
01 Exchange HYPEUSD
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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit HYPEUSDT | +0.0021% | 8h | 94.210 | −0.012% | $319.5M | $285.1M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0022% | 4h | 94.226 | +0.005% | $227.3M | $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 | 94.289 | +0.072% | $2.06B | $676.1M | 10x | as long as short |
| Aster HYPEUSDT | +0.0100% | 4h | 94.238 | +0.017% | $8.8M | $36.5M | 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 | 94.264 | +0.045% | $378.3M | $919.8M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 94.234 | +0.013% | $116.5M | $316.2M | 50x | as long as short |
| Gate HYPE_USDT | +0.0100% | 4h | 94.219 | −0.002% | $48.1M | $55.3M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 94.229 | +0.008% | $90.0M | $82.0M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 94.218 | −0.004% | $46.5M | $18.9M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 94.219 | −0.002% | — | $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 | 94.192 | −0.031% | $80K | $166K | 20x | as long as short |
| Derive HYPE-PERP | +0.0100% | 1h | 94.165 | −0.060% | $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 | 94.176 | −0.048% | $398K | $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 | 94.190 | −0.033% | $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/USDCshort | +0.0527% | 1h | 94.279 | +0.062% | $3.2M | $6.3M | 20x |
Bybit HYPEUSDT
Bitget HYPEUSDT
Phoenix HYPE
Phemex HYPEUSDT
Ondo Perps HYPE-USD.P
Paradex HYPE-USD-PERP
Lighter RH HYPE
Popdex HYPEUSDT
Katana Perps HYPE-USD
edgeX HYPEUSDC
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
Extended HYPE-USD
Aevo HYPE-PERP
Kalshi KXHYPEPERP
Injective HYPE/USDC PERP
Coinbase International HYPE-PERP-INTX
Deribit HYPE_USDC-PERPETUAL
Reya HYPERUSDPERP
GMX HYPE/USD [WBTC.b-USDC]
Kraken Futures PF_HYPEUSD
BloFin HYPE-USDT