Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.019%

Price spread now: GRVT against Lighter RH+0.036%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$150.153% of the position

Long on Lighter RH Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$4 on $10k

Price spread, last 7 days−0.068%−$7 · spread now +0.036%, 7d avg +0.017%

Together, before fees−0.024%+ Points / potential airdropLighter RH: Points live · GRVT: Active · farm board−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH HYPE	93.111	0.0096	pay 0.0012% / 1h	33m 08s	$3.1M	$12.1M	20x
Short	GRVT HYPE_USDT_Perp	93.144	0.0100	get 0.0050% / 4h	1h 33m	$7.5M	$46.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.036%Rate

Funding earned: $0.84
Price spread: +0.036% → +0.017%: $1.89
Slippage, 4 orders: −$6.29
Fee Lighter RH: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$12.56
Costs to cover: 0.153%
Break-even: 111.7 days

Slippage from Lighter RH: live order book, 6 min ago; GRVT: live order book, 6 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, 6 min ago	0.96 bp	2.0 bp −$2	4.2 bp −$42	27.2 bp −$2,716	doesn't fit
Sell GRVT live order book, 6 min ago	0.05 bp	6.4 bp −$6	7.2 bp −$72	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
Aftermath Perps HYPEUSD	−0.0380%	1h	93.133	+0.023%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0208%	1h	93.124	+0.014%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.094	−0.018%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0115%	1h	93.060	−0.055%	$698K	$923K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.134	+0.025%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.129	+0.019%	$90K	$362K	20x	as long as short
Popdex HYPEUSDT	−0.0008%	1h	93.107	−0.004%	$57K	$1.2M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.124	+0.013%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.070	−0.045%	$23K	$331K	10x	as long as short
Aster HYPEUSDT	+0.0001%	4h	93.055	−0.060%	$8.8M	$36.0M	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 −0.0001%	1h	93.102	−0.010%	$20K	—	150x	as long as short
Bullet HYPE-USD	+0.0025%	1h	93.057	−0.058%	$111K	$579K	20x	as long as short
Bybit HYPEUSDT	+0.0025%	8h	93.030	−0.087%	$323.1M	$287.1M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0028%	4h	93.072	−0.042%	$172K	$519K	20x	as long as short
Derive HYPE-PERP	+0.0031%	1h	93.034	−0.082%	$16.2M	$7.1M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.106	−0.005%	$214K	$1.2M	10x	as long as short
Gate HYPE_USDT	+0.0040%	4h	93.060	−0.055%	$43.9M	$58.1M	75x	as long as short
Binance HYPEUSDT	+0.0077%	4h	93.049	−0.067%	$382.3M	$894.1M	75x	as long as short
MEXC HYPE_USDT	+0.0078%	4h	93.070	−0.044%	$89.9M	$81.8M	100x	as long as short
Lighter HYPE	+0.0096%	1h	93.133	+0.024%	$18.5M	$58.8M	20x	as long as short
Lighter RH HYPElong	+0.0096%	1h	93.111	long leg	$3.1M	$12.1M	20x
Paradex HYPE-USD-PERP	+0.0098%	8h	93.142	+0.033%	$338K	$170K	20x	as long as short
edgeX HYPEUSDC	+0.0099%	4h	93.079	−0.035%	$5.1M	$29.6M	30x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.120	+0.010%	$34K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.113	+0.003%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.103	−0.009%	$2.02B	$670.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.170	+0.063%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.022	−0.096%	$113.8M	$313.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.390	+0.300%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.108	−0.003%	$47.1M	$18.9M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.066	−0.048%	$225.6M	$103.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.062	−0.053%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.091	−0.021%	$7.8M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.034	−0.082%	$29.0M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perpshort	+0.0100%	4h	93.144	+0.036%	$7.5M	$46.0M	10x
ApeX Omni HYPEUSDT	+0.0100%	1h	93.135	+0.026%	$412K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.066	−0.048%	$673K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.118	+0.007%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.136	+0.027%	$492K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.079	−0.034%	$75K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.089	−0.024%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.083	−0.030%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.073	−0.041%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.017	−0.101%	$18.2M	$42.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.084	−0.029%	$396K	$318K	20x	as long as short
Kalshi KXHYPEPERP	+0.0107%	8h	93.224	+0.121%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.180	+0.074%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.070	−0.044%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.057	−0.058%	$78K	$158K	15x	as long as short
HTX HYPE-USDT	+0.0249%	4h	93.228	+0.126%	$1.5M	$7.7M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.177	+0.071%	$2.8M	$6.8M	20x	as long as short
BloFin HYPE-USDT	+0.0308%	4h	93.074	−0.040%	$16.9M	$12.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0158%	1h	93.095	−0.017%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0384%	1h	93.180	+0.074%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0466%	1h	93.194	+0.089%	$20.8M	$28.9M	50x	as long as short