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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 23:00 UTC+0.0203%/8h= +22.3% APRnext payment +$0.25 per $10,000 · paid last 24h +0.022%
Price spread now: Lighter against Ondo Perps+0.054%7-day average +0.030% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Ondo PerpsShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 7 days+0.108%+$11 on $10k
Price spread, last 7 days+0.122%+$12 · spread now +0.054%, 7d avg +0.030%
Together, before fees+0.230%+ Points / potential airdropOndo Perps: Active · Lighter: Season 3 · farm board+$23 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Lighter is 0.025% dearer against Ondo Perps than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.030%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.108% in total (about 5.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.25 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOndo Perps HYPE-USD.P93.070−0.0107get 0.0013% / 1h35m 32s$698K$923K10x
ShortLighter HYPE93.1210.0096get 0.0012% / 1h35m 32s$18.5M$58.8M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter against Ondo Perps. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$42.67
Price spread: +0.054% → +0.030%
$2.48
Slippage, 4 orders
no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders
−$5
Fee Lighter: 0 bp × 2 orders
$0
Net
$40.15
Costs to cover
0.050%
Break-even
0.4 days
Slippage unknown: Ondo Perps: no order-book sample; Lighter: live order book, 8 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Ondo Perps no order-book sample—————
Sell Lighter live order book, 8 min ago0.32 bp0.3 bp $02.0 bp −$209.9 bp −$98641.0 bp −$20.5K
Ondo Perps: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps HYPEUSD−0.0361%1h93.192+0.131%$22K$22K10xas long as short
Hibachi HYPE/USDT-P−0.0192%1h93.147+0.083%$197K$230K7xas long as short
Arcus HYPE-USD−0.0131%1h93.060−0.011%$1.2M$4.0M10xas long as short
Ondo Perps HYPE-USD.Plong−0.0107%1h93.070long leg$698K$923K10x
Hotstuff HYPE-PERP−0.0080%1h93.118+0.052%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0016%1h93.101+0.033%$90K$362K20xas long as short
Popdex HYPEUSDT−0.0008%1h93.106+0.039%$57K$1.2M50xas long as short
Aster HYPEUSDT−0.0001%4h93.114+0.047%$8.8M$36.0M300xas long as short
dYdX HYPE-USD0.0000%1h93.036−0.036%$127K$32K5xas long as short
Perpl HYPE0.0000%43m93.046−0.026%$23K$331K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.060−0.011%$20K—150xas long as short
Bybit HYPEUSDT+0.0026%8h93.120+0.054%$323.1M$287.0M75xas long as short
Orderly PERP_HYPE_USDC+0.0031%4h93.051−0.020%$171K$519K20xas long as short
Derive HYPE-PERP+0.0031%1h92.993−0.083%$16.3M$7.1M10xas long as short
Phoenix HYPE+0.0034%1h93.374+0.327%$214K$1.2M10xas long as short
Bullet HYPE-USD+0.0035%1h93.010−0.065%$111K$579K20xas long as short
Gate HYPE_USDT+0.0042%4h93.100+0.032%$43.9M$58.0M75xas long as short
Binance HYPEUSDT+0.0083%4h93.105+0.038%$382.7M$893.0M75xas long as short
MEXC HYPE_USDT+0.0088%4h93.074+0.004%$89.8M$81.8M100xas long as short
Lighter HYPEshort+0.0096%1h93.121+0.054%$18.5M$58.8M20x
Lighter RH HYPE+0.0096%1h93.065−0.005%$3.1M$12.1M20xas long as short
Paradex HYPE-USD-PERP+0.0098%8h93.065−0.006%$338K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.140+0.075%$40K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.106+0.038%$5.9M$44.0M10xas long as short
Hyperliquid HYPE+0.0100%1h93.058−0.013%$2.02B$670.3M10xas long as short
Pacifica HYPE+0.0100%1h93.111+0.044%$10.0M$14.3M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.131+0.066%$113.7M$313.7M50xas long as short
Bulk HYPE-USD+0.0100%1h93.390+0.344%$204K$10K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.100+0.032%$47.1M$18.9M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.163+0.100%$225.8M$102.9M75xas long as short
BingX HYPE-USDT+0.0100%4h93.098+0.030%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.011−0.063%$7.8M$11.2M20xas long as short
Variational Omni HYPE+0.0100%8h93.354+0.305%$29.0M$50.5M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.137+0.072%$7.5M$46.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.246+0.189%$412K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.047−0.025%$673K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.145+0.080%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.147+0.083%$492K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.017−0.057%$76K$167K20xas long as short
SunX HYPE-USDT+0.0100%4h93.069−0.001%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.005−0.070%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.047−0.025%$12.7M$2.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.087+0.018%$18.2M$42.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h92.998−0.077%$396K$318K20xas long as short
Kalshi KXHYPEPERP+0.0106%8h93.149+0.085%$1.9M$5.3M2.3xas long as short
edgeX HYPEUSDC+0.0110%4h93.120+0.054%$5.1M$29.6M30xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.120+0.054%$4.9M$5.7M50xas long as short
Injective HYPE/USDC PERP+0.0239%1h93.0700.000%$30K$338K12xas long as short
Reya HYPERUSDPERP+0.0247%1h93.141+0.077%$78K$158K15xas long as short
HTX HYPE-USDT+0.0257%4h93.200+0.140%$1.5M$7.7M75xas long as short
RISEx HYPE/USDC+0.0280%1h93.159+0.096%$2.8M$6.8M20xas long as short
BloFin HYPE-USDT+0.0329%4h93.087+0.018%$16.9M$12.4M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0340% / S −0.0159%1h93.052−0.019%$1.5M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0416%1h93.131+0.066%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSD+0.0467%1h93.092+0.023%$20.8M$28.9M50xas long as short