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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.006%
Price spread now: Lighter against Popdex+0.071%7-day average +0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$3as in the Price arb table
costs, in and out, $10k−$80.078% of the position
Long on PopdexShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.011%+$1 on $10k
Price spread, last 7 days−0.041%−$4 · spread now +0.071%, 7d avg +0.020%
Together, before fees−0.030%+ Points / potential airdropLighter: Season 3 · farm board−$3 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 is 0.052% dearer against Popdex than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.020%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPopdex HYPEUSDT93.8660.0096pay 0.0012% / 1h25m 07s$67K$1.2M50x
ShortLighter HYPE93.9330.0096get 0.0012% / 1h25m 07s$16.4M$62.5M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter against Popdex. 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
$0
Price spread: +0.071% → +0.020%
$5.15
Slippage, 4 orders
−$1.4
Fee Popdex: 3.2 bp × 2 orders
−$6.4
Fee Lighter: 0 bp × 2 orders
$0
Net
−$2.64
Costs to cover
0.078%
Break-even
never at this rate
Slippage from Popdex: live order book, 4 min ago; Lighter: 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 Popdex live order book, 4 min ago0.16 bp3.4 bp −$34.0 bp −$4021.8 bp −$2,177doesn't fit
Sell Lighter live order book, 4 min ago0.52 bp0.5 bp −$12.5 bp −$2513.2 bp −$1,32441.4 bp −$20.7K

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%1h93.788−0.083%$197K$229K7xas long as short
Arcus HYPE-USD−0.0786%1h93.740−0.134%$1.2M$3.8M10xas long as short
Aftermath Perps HYPEUSD−0.0135%1h93.774−0.098%$22K$21K10xas long as short
Phemex HYPEUSDT−0.0129%8h93.855−0.012%$12.7M$2.7M50xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.874+0.009%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0077%1h93.860−0.006%$703K$929K10xas long as short
Orderly PERP_HYPE_USDC−0.0057%4h93.891+0.027%$157K$646K20xas long as short
01 Exchange HYPEUSD−0.0048%1h93.884+0.019%$85K$350K20xas long as short
Backpack HYPE_USDC_PERP−0.0041%1h93.842−0.026%$7.8M$10.3M20xas long as short
Gate HYPE_USDT−0.0028%4h93.883+0.018%$44.4M$55.0M75xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX HYPE-USDT−0.0002%4h93.873+0.007%—$53.7M—as long as short
Aster HYPEUSDT−0.0001%4h93.912+0.049%$8.9M$35.9M300xas long as short
dYdX HYPE-USD0.0000%1h93.860−0.007%$129K$31K5xas long as short
Perpl HYPE0.0000%43m93.907+0.043%$22K$326K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.927+0.064%$26K—150xas long as short
Bybit HYPEUSDT+0.0005%8h93.861−0.005%$322.4M$281.2M75xas long as short
Phoenix HYPE+0.0060%1h93.904+0.040%$213K$1.2M10xas long as short
MEXC HYPE_USDT+0.0066%4h93.879+0.014%$87.9M$82.9M100xas long as short
Binance HYPEUSDT+0.0068%4h93.8660.000%$382.1M$893.1M75xas long as short
OKX HYPE-USDT-SWAP+0.0069%8h93.868+0.002%$115.4M$308.8M50xas long as short
Bullet HYPE-USD+0.0074%1h93.914+0.051%$112K$578K20xas long as short
edgeX HYPEUSDC+0.0079%4h93.907+0.043%$5.1M$29.9M30xas long as short
Paradex HYPE-USD-PERP+0.0095%8h93.905+0.041%$341K$164K20xas long as short
Lighter HYPEshort+0.0096%1h93.933+0.071%$16.4M$62.5M20x
Lighter RH HYPE+0.0096%1h93.928+0.066%$3.1M$11.9M20xas long as short
Popdex HYPEUSDTlong+0.0096%1h93.866long leg$67K$1.2M50x
Aevo HYPE-PERP+0.0096%1h93.922+0.060%$400K$177K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.860−0.006%$21K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.820−0.048%$5.7M$45.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.975+0.116%$2.05B$672.8M10xas long as short
Pacifica HYPE+0.0100%1h93.889+0.024%$10.1M$14.7M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.912+0.049%$46.5M$18.1M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.903+0.039%$227.5M$98.6M75xas long as short
Variational Omni HYPE+0.0100%8h93.910+0.046%$31.1M$54.7M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.889+0.025%$7.6M$47.5M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.834−0.034%$339K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.920+0.058%$670K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.922+0.060%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.921+0.059%$474K$2.4M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.898+0.034%$80K$172K20xas long as short
Derive HYPE-PERP+0.0100%1h93.891+0.026%$16.3M$7.7M10xas long as short
SunX HYPE-USDT+0.0100%4h93.949+0.088%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.904+0.040%$2.0M$1.9M10xas long as short
Bulk HYPE-USD+0.0100%1h93.880+0.015%$204K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.890+0.026%$18.3M$44.3M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.960+0.100%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.760−0.113%$30K$339K12xas long as short
RISEx HYPE/USDC+0.0210%1h93.936+0.075%$3.2M$7.0M20xas long as short
HTX HYPE-USDT+0.0212%4h94.019+0.163%$1.4M$5.9M75xas long as short
Reya HYPERUSDPERP+0.0255%1h93.886+0.021%$80K$140K15xas long as short
Kalshi KXHYPEPERP+0.0274%8h93.918+0.055%$1.9M$4.9M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0156%1h93.922+0.060%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0495%1h94.008+0.151%$7.5M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0678%1h94.001+0.144%$21.0M$29.8M50xas long as short