HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0053%/8h= +5.8% APRnext payment +$0.07 per $10,000 · paid last 24h −0.014%

Price spread now: Lighter RH against Phoenix−0.145%7-day average −0.106% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$140.137% of the position

Long on Phoenix Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.321%−$32 on $10k

Price spread, last 7 days+0.011%+$1 · spread now −0.145%, 7d avg −0.106%

Together, before fees−0.309%+ Points / potential airdropLighter RH: Points live · farm board−$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter RH is 0.039% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.145% now, against its 7-day average of −0.106%). If the spread goes back, that is −$4 on $10k: about 2.5 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.321%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix HYPE	92.888	0.0043	pay 0.0005% / 1h	56m 45s	$210K	$1.2M	10x
Short	Lighter RH HYPE	92.753	0.0096	get 0.0012% / 1h	56m 45s	$3.1M	$11.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Phoenix. 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 PhoenixbpFee Lighter RHbpOrdersPrice spread, now −0.145%Rate

Funding earned: $11.09
Price spread: −0.145% → −0.106%: −$3.93
Slippage, 4 orders: −$6.71
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$6.54
Costs to cover: 0.137%
Break-even: 11.1 days

Slippage from Phoenix: live order book, 1 min ago; Lighter RH: 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 Phoenix live order book, 1 min ago	1.08 bp	5.5 bp −$6	10.3 bp −$103	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	1.13 bp	1.2 bp −$1	2.3 bp −$23	20.8 bp −$2,082	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
Hibachi HYPE/USDT-P	−0.0472%	1h	92.744	−0.155%	$193K	$228K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0281%	1h	92.823	−0.070%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.736	−0.164%	$1.1M	$3.9M	10x	as long as short
Gate HYPE_USDT	−0.0148%	4h	92.736	−0.164%	$44.4M	$53.4M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.807	−0.087%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0063%	4h	92.702	−0.200%	$157K	$653K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.772	−0.125%	$127K	$29K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	92.795	−0.100%	$1.8M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	92.769	−0.129%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.778	−0.118%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex HYPEUSDT	+0.0040%	8h	92.758	−0.140%	$12.5M	$2.7M	50x	as long as short
Bybit HYPEUSDT	+0.0041%	8h	92.730	−0.170%	$315.8M	$281.7M	75x	as long as short
Phoenix HYPElong	+0.0043%	1h	92.888	long leg	$210K	$1.2M	10x
01 Exchange HYPEUSD	+0.0048%	1h	92.792	−0.103%	$87K	$362K	20x	as long as short
Popdex HYPEUSDT	+0.0048%	1h	92.761	−0.137%	$69K	$1.1M	50x	as long as short
Bullet HYPE-USD	+0.0057%	1h	92.753	−0.145%	$111K	$579K	20x	as long as short
Aster HYPEUSDT	+0.0070%	4h	92.743	−0.156%	$8.7M	$36.2M	300x	as long as short
Bitget HYPEUSDT	+0.0084%	4h	92.726	−0.174%	$224.4M	$98.8M	75x	as long as short
edgeX HYPEUSDC	+0.0093%	4h	92.869	−0.021%	$4.9M	$29.5M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	92.790	−0.105%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.735	−0.164%	$16.0M	$62.2M	20x	as long as short
Lighter RH HYPEshort	+0.0096%	1h	92.753	−0.145%	$3.1M	$11.6M	20x
OKX HYPE-USDT-SWAP	+0.0099%	8h	92.745	−0.154%	$113.7M	$303.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.760	−0.138%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.755	−0.143%	$7.4M	$45.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.803	−0.092%	$2.02B	$664.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.798	−0.097%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.743	−0.156%	$372.6M	$902.3M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	92.720	−0.181%	$698K	$1.1M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	−0.095%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.735	−0.165%	$88.0M	$79.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.737	−0.163%	$46.1M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.732	−0.168%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.780	−0.116%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.859	−0.031%	$28.5M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.886	−0.002%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.892	+0.004%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.845	−0.046%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.833	−0.060%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.791	−0.104%	$468K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.708	−0.194%	$78K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.714	−0.188%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.756	−0.142%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.728	−0.172%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.900	+0.013%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.707	−0.195%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.765	−0.132%	$392K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.800	−0.095%	$4.7M	$5.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.799	−0.096%	$20.6M	$30.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.050	+0.174%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.746	−0.153%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.758	−0.140%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.727	−0.173%	$16.7M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0440%	1h	92.842	−0.050%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.826	−0.067%	$3.2M	$6.4M	20x	as long as short