HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0176%/8h= −19.2% APRnext payment −$0.22 per $10,000 · paid last 24h −0.041%

Price spread now: Lighter RH against Reya+0.070%7-day average +0.027% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.016%−$2 on $10k

Price spread, last 4 days (all we have)−0.556%−$56 · spread now +0.070%, 7d avg +0.027%

Together, before fees−0.572%+ Points / potential airdropReya: Active · Lighter RH: Points live · farm board−$57 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.043% dearer against Reya than usual: you sell high and buy low (spread +0.070% now, against its 7-day average of +0.027%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 20 hours. At the pace of the last 4 days (−0.016% in total) that is about 9.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya HYPERUSDPERP	94.738	0.0272	pay 0.0034% / 1h	47m 49s	$83K	$115K	15x
Short	Lighter RH HYPE	94.805	0.0096	get 0.0012% / 1h	47m 49s	$3.2M	$10.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Reya. 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 ReyabpFee Lighter RHbpOrdersPrice spread, now +0.070%Rate

Funding earned: −$36.88
Price spread: +0.070% → +0.027%: $4.35
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$38.53
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Lighter RH: live order book, 6 min ago. Net counts fees only.

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 Reya no order-book sample	—	—	—	—	—
Sell Lighter RH live order book, 6 min ago	1.05 bp	3.0 bp −$3	4.6 bp −$46	31.7 bp −$3,169	doesn't fit

Reya: 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-P	−0.1320%	1h	94.754	+0.017%	$208K	$268K	7x	as long as short
Bluefin HYPE-PERP	−0.0390%	1h	94.763	+0.026%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0315%	1h	94.788	+0.052%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0183%	1h	94.803	+0.068%	$112K	$577K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.741	+0.003%	$1.0M	$3.5M	10x	as long as short
01 Exchange HYPEUSD	−0.0088%	1h	94.837	+0.104%	$89K	$365K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.940	+0.213%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0057%	1h	94.680	−0.062%	$715K	$1.3M	10x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.784	+0.048%	$19.3M	$34.5M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	94.776	+0.040%	$147K	$685K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	94.698	−0.042%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.763	+0.026%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.773	+0.036%	$19K	$286K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.830	+0.097%	$85K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.810	+0.076%	$209K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0014%	4h	94.918	+0.190%	$227.9M	$99.9M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.750	+0.012%	$4.8M	$6.3M	50x	as long as short
Derive HYPE-PERP	+0.0051%	1h	94.682	−0.059%	$16.4M	$7.4M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0052%	8h	94.713	−0.026%	$338K	$154K	20x	as long as short
Vest HYPE-PERP	+0.0061%	1h	94.826	+0.093%	—	$190K	5x	as long as short
OKX HYPE-USDT-SWAP	+0.0064%	8h	94.927	+0.199%	$118.5M	$329.6M	50x	as long as short
SoDEX HYPE-USD	+0.0083%	1h	94.781	+0.045%	$2.1M	$2.0M	10x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	94.791	+0.055%	$5.0M	$30.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.804	+0.069%	$16.3M	$62.1M	20x	as long as short
Lighter RH HYPEshort	+0.0096%	1h	94.805	+0.070%	$3.2M	$10.2M	20x
Popdex HYPEUSDT	+0.0096%	1h	94.797	+0.062%	$147K	$1.3M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.740	+0.002%	$43K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.787	+0.052%	$7.3M	$52.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.029	+0.307%	$2.09B	$691.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.918	+0.190%	$9.6M	$37.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.708	−0.032%	$10.2M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.926	+0.198%	$381.9M	$937.8M	75x	as long as short
Bybit HYPEUSDT	+0.0100%	8h	94.921	+0.193%	$317.9M	$292.5M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.690	−0.051%	$221K	$14K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.900	+0.171%	$51.1M	$54.1M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.934	+0.207%	$94.0M	$85.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.917	+0.189%	$47.3M	$19.1M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.914	+0.185%	—	$53.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.779	+0.043%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.809	+0.075%	$30.0M	$55.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.848	+0.116%	$7.7M	$44.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.799	+0.064%	$352K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.762	+0.025%	$695K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.830	+0.097%	$500K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.916	+0.188%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.882	+0.152%	$1.4M	$6.9M	75x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	94.821	+0.087%	$12.9M	$2.9M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.901	+0.172%	$18.5M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.884	+0.154%	$401K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.782	+0.046%	$3.1M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.170	+0.456%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0246%	1h	94.900	+0.171%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERPlong	+0.0272%	1h	94.738	long leg	$83K	$115K	15x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	94.836	+0.103%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.724	−0.015%	$17.2M	$12.4M	75x	as long as short