HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h +0.001%

Price spread now: Lighter RH against Polymarket Perps+0.003%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$110.106% of the position

Long on Polymarket Perps Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 7 days−0.034%−$3 · spread now +0.003%, 7d avg +0.043%

Together, before fees−0.049%+ Points / potential airdropLighter RH: Points live · farm board−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter RH is 0.040% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps HYPE-USD	94.130	0.0100	pay 0.0013% / 1h	50m 33s	$485K	$2.5M	20x
Short	Lighter RH HYPE	94.133	0.0096	get 0.0012% / 1h	50m 33s	$3.1M	$12.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Polymarket Perps. 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 Polymarket PerpsbpFee Lighter RHbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$0.84
Price spread: +0.003% → +0.043%: −$3.97
Slippage, 4 orders: −$2.56
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$15.37
Costs to cover: 0.106%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Lighter RH: live order book, 3 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 Polymarket Perps live order book, 3 min ago	0.85 bp	4.9 bp −$5	5.8 bp −$58	10.9 bp −$1,088	doesn't fit
Sell Lighter RH live order book, 3 min ago	0.05 bp	0.4 bp $0	3.5 bp −$35	31.7 bp −$3,166	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	−0.0608%	1h	94.035	−0.101%	$199K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0466%	1h	93.904	−0.240%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	94.004	−0.134%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.110	−0.021%	$3K	$331	25x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.092	−0.040%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	94.113	−0.018%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.127	−0.003%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	94.035	−0.101%	$215K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0014%	4h	94.110	−0.021%	$176K	$526K	20x	as long as short
Bybit HYPEUSDT	+0.0021%	8h	94.070	−0.064%	$324.6M	$281.3M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0037%	4h	94.108	−0.023%	$8.9M	$35.8M	300x	as long as short
Ondo Perps HYPE-USD.P	+0.0037%	1h	94.020	−0.117%	$704K	$908K	10x	as long as short
Phemex HYPEUSDT	+0.0067%	8h	94.047	−0.088%	$12.8M	$2.6M	50x	as long as short
Gate HYPE_USDT	+0.0072%	4h	94.098	−0.034%	$44.5M	$58.0M	75x	as long as short
edgeX HYPEUSDC	+0.0073%	4h	93.924	−0.218%	$5.1M	$29.7M	30x	as long as short
MEXC HYPE_USDT	+0.0074%	4h	94.068	−0.066%	$88.8M	$80.9M	100x	as long as short
Binance HYPEUSDT	+0.0077%	4h	94.078	−0.055%	$386.5M	$888.5M	75x	as long as short
Derive HYPE-PERP	+0.0082%	1h	94.052	−0.083%	$16.5M	$6.9M	10x	as long as short
01 Exchange HYPEUSD	+0.0088%	1h	94.109	−0.022%	$86K	$364K	20x	as long as short
Lighter HYPE	+0.0096%	1h	94.144	+0.015%	$19.1M	$59.1M	20x	as long as short
Lighter RH HYPEshort	+0.0096%	1h	94.133	+0.003%	$3.1M	$12.2M	20x
Popdex HYPEUSDT	+0.0096%	1h	94.094	−0.038%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.113	−0.018%	$400K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.125	−0.005%	$342K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.100	−0.032%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.093	−0.039%	$5.9M	$44.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.114	−0.017%	$10.2M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.064	−0.070%	$116.0M	$317.4M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.095	−0.037%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.125	−0.005%	$47.3M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.082	−0.051%	$227.8M	$102.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.067	−0.067%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.105	−0.027%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.882	−0.263%	$32.1M	$53.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.938	−0.204%	$7.6M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.072	−0.062%	$335K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.098	−0.034%	$680K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.141	+0.011%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USDlong	+0.0100%	1h	94.130	long leg	$485K	$2.5M	20x
Bullet HYPE-USD	+0.0100%	1h	94.103	−0.028%	$113K	$578K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.093	−0.039%	$76K	$166K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.094	−0.038%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.104	−0.028%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.050	−0.085%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.049	−0.086%	$18.7M	$42.1M	50x	as long as short
Kalshi KXHYPEPERP	+0.0124%	8h	94.141	+0.012%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.110	−0.021%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0228%	4h	94.275	+0.154%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	94.065	−0.069%	$77K	$142K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0260%	1h	94.196	+0.070%	$7.4M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	94.144	+0.015%	$2.8M	$6.8M	20x	as long as short
BloFin HYPE-USDT	+0.0303%	4h	94.097	−0.035%	$17.0M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0165%	1h	94.092	−0.041%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0576%	1h	94.205	+0.080%	$21.1M	$29.1M	50x	as long as short
Hyperliquid HYPE	+0.0734%	1h	94.174	+0.047%	$2.05B	$666.7M	10x	as long as short