Settings8H · net · $10k
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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 01:00 UTC−0.0036%/8h= −3.9% APRnext payment −$0.05 per $10,000 · paid last 24h +0.016%
Price spread now: Phoenix against Lighter RH+0.019%7-day average +0.107% · you sell dearer than you buy
Net, funding: paid 7d − costs+$20as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$120.123% of the position
Long on Lighter RHShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.324%+$32 on $10k
Price spread, last 7 days+0.102%+$10 · spread now +0.019%, 7d avg +0.107%
Together, before fees+0.426%+ Points / potential airdropLighter RH: Points live · farm board+$43 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 Phoenix is 0.087% cheaper against Lighter RH than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.107%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.324%, so the current rate has only just turned against you.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter RH HYPE93.8860.0096pay 0.0012% / 1h24m 41s$3.1M$11.9M20x
ShortPhoenix HYPE93.9040.0060get 0.0007% / 1h24m 41s$213K$1.2M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix 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

Funding earned
−$7.57
Price spread: +0.019% → +0.107%
−$8.73
Slippage, 4 orders
−$5.34
Fee Lighter RH: 0 bp × 2 orders
$0
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$28.65
Costs to cover
0.123%
Break-even
never at this rate
Slippage from Lighter RH: live order book, 4 min ago; Phoenix: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter RH live order book, 4 min ago0.11 bp4.1 bp −$45.6 bp −$5625.8 bp −$2,583doesn't fit
Sell Phoenix live order book, 4 min ago0.05 bp3.6 bp −$47.4 bp −$74143.4 bp −$14.3Kdoesn't fit

HYPE on 54 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.0968%1h93.788−0.104%$197K$229K7xas long as short
Arcus HYPE-USD−0.0786%1h93.740−0.156%$1.2M$3.8M10xas long as short
Aftermath Perps HYPEUSD−0.0135%1h93.774−0.119%$22K$21K10xas long as short
Phemex HYPEUSDT−0.0129%8h93.855−0.033%$12.7M$2.7M50xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.874−0.013%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0077%1h93.860−0.028%$703K$929K10xas long as short
Orderly PERP_HYPE_USDC−0.0057%4h93.891+0.005%$157K$646K20xas long as short
01 Exchange HYPEUSD−0.0048%1h93.884−0.002%$85K$350K20xas long as short
Backpack HYPE_USDC_PERP−0.0041%1h93.842−0.047%$7.8M$10.3M20xas long as short
Gate HYPE_USDT−0.0028%4h93.858−0.030%$44.4M$55.1M75xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX HYPE-USDT−0.0002%4h93.851−0.037%—$53.7M—as long as short
Aster HYPEUSDT−0.0001%4h93.858−0.030%$8.9M$35.9M300xas long as short
dYdX HYPE-USD0.0000%1h93.936+0.053%$129K$31K5xas long as short
Perpl HYPE0.0000%43m93.907+0.022%$22K$326K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.927+0.043%$26K—150xas long as short
Bybit HYPEUSDT+0.0005%8h93.818−0.072%$322.2M$281.2M75xas long as short
Phoenix HYPEshort+0.0060%1h93.904+0.019%$213K$1.2M10x
MEXC HYPE_USDT+0.0068%4h93.835−0.054%$87.8M$82.9M100xas long as short
Binance HYPEUSDT+0.0068%4h93.866−0.021%$382.1M$893.1M75xas long as short
OKX HYPE-USDT-SWAP+0.0069%8h93.821−0.069%$115.3M$308.5M50xas long as short
Bullet HYPE-USD+0.0074%1h93.914+0.029%$112K$578K20xas long as short
edgeX HYPEUSDC+0.0079%4h93.907+0.022%$5.1M$29.9M30xas long as short
Paradex HYPE-USD-PERP+0.0095%8h93.905+0.020%$341K$164K20xas long as short
Lighter HYPE+0.0096%1h93.891+0.005%$16.4M$62.6M20xas long as short
Lighter RH HYPElong+0.0096%1h93.886long leg$3.1M$11.9M20x
Popdex HYPEUSDT+0.0096%1h93.866−0.021%$67K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.922+0.039%$400K$177K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.860−0.028%$21K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.820−0.070%$5.7M$45.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.967+0.086%$2.05B$665.5M10xas long as short
Pacifica HYPE+0.0100%1h93.882−0.004%$10.1M$14.7M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.889+0.003%$46.5M$18.1M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.881−0.005%$227.5M$98.6M75xas long as short
Variational Omni HYPE+0.0100%8h93.910+0.025%$31.1M$54.7M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.889+0.003%$7.6M$47.5M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.834−0.055%$339K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.920+0.036%$670K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.922+0.038%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.921+0.037%$474K$2.4M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.898+0.013%$80K$172K20xas long as short
Derive HYPE-PERP+0.0100%1h93.891+0.005%$16.3M$7.7M10xas long as short
SunX HYPE-USDT+0.0100%4h93.949+0.067%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.904+0.019%$2.0M$1.9M10xas long as short
Bulk HYPE-USD+0.0100%1h93.880−0.006%$204K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.836−0.053%$18.3M$44.3M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.960+0.079%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.760−0.134%$30K$339K12xas long as short
RISEx HYPE/USDC+0.0210%1h93.936+0.053%$3.2M$7.0M20xas long as short
HTX HYPE-USDT+0.0212%4h94.019+0.142%$1.4M$5.9M75xas long as short
Reya HYPERUSDPERP+0.0255%1h93.8860.000%$80K$140K15xas long as short
Kalshi KXHYPEPERP+0.0274%8h93.918+0.034%$1.9M$4.9M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0156%1h93.922+0.039%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0495%1h94.008+0.130%$7.5M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0678%1h94.001+0.122%$21.0M$29.8M50xas long as short