HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0236%/8h= +25.8% APRnext payment +$0.29 per $10,000 · paid last 24h +0.027%

Price spread now: Kraken Futures against Lighter RH+0.066%7-day average +0.023% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on Lighter RH Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.166%+$17 on $10k

Price spread, last 4 days (all we have)−0.176%−$18 · spread now +0.066%, 7d avg +0.023%

Together, before fees−0.010%+ Points / potential airdropLighter RH: Points live · farm board−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Kraken Futures is 0.043% dearer against Lighter RH than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH HYPE	92.750	0.0096	pay 0.0012% / 1h	22m 13s	$3.1M	$11.7M	20x
Short	Kraken Futures PF_HYPEUSD	92.811	0.0332	get 0.0041% / 1h	22m 13s	$20.6M	$30.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.066%Rate

Funding earned: $49.47
Price spread: +0.066% → +0.023%: $4.32
Slippage, 4 orders: −$13.24
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $30.55
Costs to cover: 0.232%
Break-even: 2.7 days

Slippage from Lighter RH: live order book, 2 min ago; Kraken Futures: 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 RH live order book, 2 min ago	0.65 bp	3.2 bp −$3	5.0 bp −$50	29.3 bp −$2,933	doesn't fit
Sell Kraken Futures live order book, 2 min ago	1.13 bp	10.1 bp −$10	12.0 bp −$120	19.3 bp −$1,935	59.5 bp −$29.7K

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
Arcus HYPE-USD	−0.0948%	1h	92.682	−0.073%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0248%	1h	92.684	−0.071%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0226%	1h	92.649	−0.109%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.679	−0.077%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.702	−0.052%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	92.787	+0.040%	$87K	$359K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.770	+0.022%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.736	−0.015%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.757	+0.007%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0020%	8h	92.672	−0.084%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0027%	1h	92.725	−0.027%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	+0.0033%	1h	92.640	−0.119%	$697K	$1.1M	10x	as long as short
Aster HYPEUSDT	+0.0036%	4h	92.720	−0.032%	$8.7M	$36.3M	300x	as long as short
BingX HYPE-USDT	+0.0040%	4h	92.739	−0.012%	—	$53.4M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.652	−0.106%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0050%	8h	92.700	−0.054%	$316.6M	$281.9M	75x	as long as short
Gate HYPE_USDT	+0.0086%	4h	92.718	−0.035%	$44.5M	$55.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0086%	8h	92.719	−0.033%	$113.6M	$304.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.762	+0.013%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.751	+0.001%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPElong	+0.0096%	1h	92.750	long leg	$3.1M	$11.7M	20x
Popdex HYPEUSDT	+0.0096%	1h	92.762	+0.013%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.710	−0.043%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.715	−0.038%	$6.8M	$45.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.769	+0.021%	$2.02B	$662.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.772	+0.023%	$10.0M	$15.1M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.749	−0.001%	$372.5M	$904.7M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.744	−0.006%	$87.5M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.756	+0.006%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.725	−0.027%	$224.5M	$98.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.659	−0.098%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.628	−0.132%	$28.5M	$57.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.667	−0.090%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.679	−0.077%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.691	−0.064%	$665K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.773	+0.025%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.752	+0.002%	$465K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.716	−0.037%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.722	−0.031%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.732	−0.019%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.753	+0.003%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.900	+0.162%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.701	−0.053%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.707	−0.047%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.734	−0.017%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0117%	4h	92.646	−0.112%	$5.0M	$29.5M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.270%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.780	+0.032%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0242%	8h	92.827	+0.083%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0262%	1h	92.737	−0.014%	$79K	$133K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.741	−0.009%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSDshort	+0.0332%	1h	92.811	+0.066%	$20.6M	$30.5M	50x
BloFin HYPE-USDT	+0.0340%	4h	92.691	−0.064%	$16.6M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0397%	1h	92.826	+0.082%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.823	+0.079%	$3.2M	$6.4M	20x	as long as short