HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0043%/8h= −4.7% APRnext payment −$0.05 per $10,000 · paid last 24h −0.016%

Price spread now: Derive against Lighter RH−0.081%7-day average −0.048% · you buy dearer than you sell

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

Long on Lighter RH Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.040%+$4 on $10k

Price spread, last 3 days (all we have)+0.032%+$3 · spread now −0.081%, 7d avg −0.048%

Together, before fees+0.072%+ Points / potential airdropLighter RH: Points live · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Derive is 0.033% cheaper against Lighter RH than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.048%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH HYPE	93.428	0.0096	pay 0.0012% / 1h	48m 42s	$3.1M	$11.8M	20x
Short	Derive HYPE-PERP	93.353	0.0053	get 0.0007% / 1h	48m 42s	$16.2M	$7.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.081%Rate

Funding earned: −$9.04
Price spread: −0.081% → −0.048%: −$3.29
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Derive: 3 bp × 2 orders: −$6
Net: −$18.32
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter RH: live order book, 5 min ago; Derive: 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 RH live order book, 5 min ago	0.32 bp	3.0 bp −$3	7.5 bp −$75	34.8 bp −$3,484	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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 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	−0.1064%	1h	93.439	+0.012%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.226	−0.216%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0199%	1h	93.348	−0.086%	$22K	$21K	10x	as long as short
Backpack HYPE_USDC_PERP	−0.0136%	1h	93.390	−0.041%	$7.8M	$10.6M	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0107%	1h	93.450	+0.024%	$699K	$979K	10x	as long as short
Gate HYPE_USDT	−0.0082%	4h	93.409	−0.020%	$44.3M	$53.8M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.282	−0.156%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.438	+0.011%	$85K	$361K	20x	as long as short
Phemex HYPEUSDT	−0.0062%	8h	93.400	−0.030%	$12.7M	$2.7M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0049%	4h	93.360	−0.073%	$158K	$646K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0019%	4h	93.506	+0.083%	$8.9M	$36.2M	300x	as long as short
ApeX Omni HYPEUSDT	−0.0006%	1h	93.312	−0.124%	$337K	$1.1M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.455	+0.029%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.482	+0.057%	$22K	$333K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.429	+0.001%	$26K	—	150x	as long as short
BingX HYPE-USDT	+0.0012%	4h	93.342	−0.092%	—	$54.2M	—	as long as short
Bybit HYPEUSDT	+0.0025%	8h	93.330	−0.105%	$319.3M	$282.9M	75x	as long as short
edgeX HYPEUSDC	+0.0038%	4h	93.103	−0.348%	$5.0M	$29.8M	30x	as long as short
MEXC HYPE_USDT	+0.0042%	4h	93.380	−0.051%	$87.7M	$82.1M	100x	as long as short
Binance HYPEUSDT	+0.0047%	4h	93.396	−0.034%	$380.7M	$904.5M	75x	as long as short
Derive HYPE-PERPshort	+0.0053%	1h	93.353	−0.081%	$16.2M	$7.6M	10x
Bluefin HYPE-PERP	+0.0056%	1h	93.390	−0.041%	$79K	$173K	20x	as long as short
Phoenix HYPE	+0.0060%	1h	93.190	−0.255%	$212K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0061%	1h	93.389	−0.042%	$111K	$578K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0065%	8h	93.331	−0.104%	$115.2M	$315.4M	50x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.382	−0.050%	$397K	$177K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.429	+0.001%	$16.4M	$62.2M	20x	as long as short
Lighter RH HYPElong	+0.0096%	1h	93.428	long leg	$3.1M	$11.8M	20x
Popdex HYPEUSDT	+0.0096%	1h	93.424	−0.004%	$64K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.395	−0.035%	$339K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.350	−0.083%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.425	−0.003%	$6.6M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.503	+0.080%	$2.04B	$672.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.419	−0.010%	$10.0M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.459	+0.033%	$46.0M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.340	−0.094%	$225.9M	$100.7M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.281	−0.158%	$30.9M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.172	−0.274%	$7.5M	$46.9M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.459	+0.033%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.500	+0.077%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.491	+0.067%	$468K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.483	+0.059%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.388	−0.043%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.250	−0.191%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.292	−0.145%	$18.4M	$44.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.500	+0.077%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.440	+0.013%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0175%	4h	93.407	−0.022%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.378	−0.054%	$2.7M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0253%	1h	93.435	+0.007%	$79K	$142K	15x	as long as short
Kalshi KXHYPEPERP	+0.0258%	8h	93.590	+0.173%	$1.9M	$5.2M	2.3x	as long as short
HTX HYPE-USDT	+0.0267%	4h	93.558	+0.139%	$1.5M	$6.1M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0158%	1h	93.427	−0.001%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0499%	1h	93.502	+0.079%	$7.5M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0682%	1h	93.495	+0.072%	$20.9M	$29.9M	50x	as long as short