HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0882%/8h= −96.6% APRnext payment −$1.10 per $10,000 · paid last 24h −0.062%

Price spread now: Arcus against Lighter RH−0.193%7-day average −0.014% · 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−$29as in the Price arb table

costs, in and out, $10k−$110.109% of the position

Long on Lighter RH Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.081%−$8 on $10k

Price spread, last 7 days+0.209%+$21 · spread now −0.193%, 7d avg −0.014%

Together, before fees+0.128%+ Points / potential airdropLighter RH: Points live · farm board+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and Arcus is 0.178% cheaper against Lighter RH than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.014%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.081% in total (about -8.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.10 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 RH HYPE	93.886	0.0096	pay 0.0012% / 1h	24m 35s	$3.1M	$11.9M	20x
Short	Arcus HYPE-USD	93.705	−0.0786	pay 0.0098% / 1h	24m 35s	$1.2M	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Lighter RH. 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 Lighter RHbpFee ArcusbpOrdersPrice spread, now −0.193%Rate

Funding earned: −$185.29
Price spread: −0.193% → −0.014%: −$17.84
Slippage, 4 orders: −$6.38
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$214
Costs to cover: 0.109%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 4 min ago; Arcus: live order book, 4 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 RH live order book, 4 min ago	0.11 bp	4.1 bp −$4	5.6 bp −$56	25.8 bp −$2,583	doesn't fit
Sell Arcus live order book, 4 min ago	0.59 bp	3.3 bp −$3	4.3 bp −$43	207.4 bp −$20.7K	doesn't fit

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	−0.0968%	1h	93.788	−0.104%	$197K	$229K	7x	as long as short
Arcus HYPE-USDshort	−0.0786%	1h	93.705	−0.193%	$1.2M	$3.8M	10x
Aftermath Perps HYPEUSD	−0.0135%	1h	93.774	−0.119%	$22K	$21K	10x	as long as short
Phemex HYPEUSDT	−0.0129%	8h	93.855	−0.033%	$12.7M	$2.7M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.854	−0.034%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0074%	1h	93.860	−0.028%	$703K	$926K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0057%	4h	93.891	+0.005%	$157K	$646K	20x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.838	−0.051%	$85K	$350K	20x	as long as short
Backpack HYPE_USDC_PERP	−0.0041%	1h	93.842	−0.047%	$7.8M	$10.3M	20x	as long as short
Gate HYPE_USDT	−0.0028%	4h	93.824	−0.066%	$44.4M	$55.1M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	−0.0002%	4h	93.807	−0.084%	—	$53.7M	—	as long as short
Aster HYPEUSDT	−0.0001%	4h	93.863	−0.025%	$8.9M	$35.9M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.936	+0.053%	$129K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.907	+0.022%	$22K	$326K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.927	+0.043%	$26K	—	150x	as long as short
Bybit HYPEUSDT	+0.0005%	8h	93.820	−0.070%	$322.2M	$281.3M	75x	as long as short
Phoenix HYPE	+0.0060%	1h	93.904	+0.019%	$213K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0068%	4h	93.835	−0.054%	$87.8M	$82.9M	100x	as long as short
Binance HYPEUSDT	+0.0068%	4h	93.836	−0.053%	$381.9M	$892.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0069%	8h	93.839	−0.050%	$115.3M	$308.5M	50x	as long as short
Bullet HYPE-USD	+0.0074%	1h	93.914	+0.029%	$112K	$578K	20x	as long as short
edgeX HYPEUSDC	+0.0079%	4h	93.907	+0.022%	$5.1M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.898	+0.013%	$341K	$164K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.891	+0.005%	$16.4M	$62.6M	20x	as long as short
Lighter RH HYPElong	+0.0096%	1h	93.886	long leg	$3.1M	$11.9M	20x
Popdex HYPEUSDT	+0.0096%	1h	93.822	−0.068%	$67K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.922	+0.039%	$400K	$177K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.850	−0.038%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.862	−0.026%	$5.7M	$45.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.967	+0.086%	$2.05B	$665.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.882	−0.004%	$10.1M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.862	−0.026%	$46.5M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.816	−0.075%	$227.3M	$98.6M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.910	+0.025%	$31.1M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.889	+0.003%	$7.6M	$47.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.834	−0.055%	$339K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.876	−0.011%	$670K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.922	+0.038%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.921	+0.037%	$474K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.898	+0.013%	$80K	$172K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.891	+0.005%	$16.3M	$7.7M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.949	+0.067%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.904	+0.019%	$2.0M	$1.9M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.880	−0.006%	$204K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.791	−0.102%	$18.3M	$44.3M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.960	+0.079%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.760	−0.134%	$30K	$339K	12x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.896	+0.011%	$3.2M	$7.0M	20x	as long as short
HTX HYPE-USDT	+0.0212%	4h	94.019	+0.142%	$1.4M	$5.9M	75x	as long as short
Reya HYPERUSDPERP	+0.0255%	1h	93.886	0.000%	$80K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0274%	8h	93.918	+0.034%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0156%	1h	93.922	+0.039%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0495%	1h	94.008	+0.130%	$7.5M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0678%	1h	94.001	+0.122%	$21.0M	$29.8M	50x	as long as short