HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0184%/8h= −20.1% APRnext payment −$0.23 per $10,000 · paid last 24h −0.027%

Price spread now: Lighter against RISEx−0.008%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$90.094% of the position

Long on RISEx Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.105%−$11 on $10k

Price spread, last 7 days+0.021%+$2 · spread now −0.008%, 7d avg +0.028%

Together, before fees−0.084%+ Points / potential airdropLighter: Season 3 · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Lighter is 0.037% cheaper against RISEx than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.028%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx HYPE/USDC	93.151	0.0280	pay 0.0035% / 1h	28m 32s	$2.7M	$6.8M	20x
Short	Lighter HYPE	93.143	0.0096	get 0.0012% / 1h	28m 32s	$18.5M	$58.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against RISEx. 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 RISExbpFee LighterbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$38.62
Price spread: −0.008% → +0.028%: −$3.66
Slippage, 4 orders: −$3.44
Fee RISEx: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$51.72
Costs to cover: 0.094%
Break-even: never at this rate

Slippage from RISEx: live order book, 1 min ago; Lighter: live order book, 5 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 RISEx live order book, 1 min ago	0.97 bp	4.0 bp −$4	6.0 bp −$60	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.71 bp	0.7 bp −$1	2.5 bp −$25	10.2 bp −$1,022	40.2 bp −$20.1K

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
Aftermath Perps HYPEUSD	−0.0401%	1h	93.019	−0.142%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0256%	1h	92.932	−0.235%	$196K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.049	−0.109%	$1.2M	$4.0M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0120%	1h	93.000	−0.162%	$698K	$927K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.057	−0.101%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	93.092	−0.063%	$90K	$362K	20x	as long as short
Popdex HYPEUSDT	−0.0016%	1h	93.090	−0.065%	$58K	$1.2M	50x	as long as short
Aster HYPEUSDT	−0.0007%	4h	93.080	−0.076%	$8.8M	$36.0M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.108	−0.046%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.990	−0.173%	$23K	$331K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.038	−0.121%	$20K	—	150x	as long as short
Bybit HYPEUSDT	+0.0024%	8h	93.066	−0.091%	$322.8M	$287.2M	75x	as long as short
Orderly PERP_HYPE_USDC	+0.0025%	4h	92.979	−0.185%	$171K	$518K	20x	as long as short
Derive HYPE-PERP	+0.0033%	1h	92.949	−0.216%	$16.2M	$7.1M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.033	−0.127%	$213K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0039%	1h	92.989	−0.174%	$111K	$580K	20x	as long as short
Gate HYPE_USDT	+0.0044%	4h	93.088	−0.068%	$43.8M	$58.4M	75x	as long as short
Binance HYPEUSDT	+0.0067%	4h	93.108	−0.047%	$381.9M	$895.1M	75x	as long as short
MEXC HYPE_USDT	+0.0070%	4h	93.111	−0.043%	$90.1M	$81.9M	100x	as long as short
edgeX HYPEUSDC	+0.0086%	4h	93.085	−0.071%	$5.1M	$29.6M	30x	as long as short
Lighter HYPEshort	+0.0096%	1h	93.143	−0.008%	$18.5M	$58.9M	20x
Lighter RH HYPE	+0.0096%	1h	93.120	−0.033%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	92.968	−0.197%	$395K	$318K	20x	as long as short
StandX HYPE-USD	+0.0096%	1h	93.000	−0.162%	$673K	$2.5M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	93.093	−0.062%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.090	−0.065%	$34K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.095	−0.060%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.110	−0.044%	$2.02B	$672.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.127	−0.026%	$10.0M	$14.3M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.042	−0.117%	$113.7M	$314.1M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.030	−0.130%	$203K	$8K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.122	−0.031%	$47.0M	$19.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.110	−0.044%	$225.6M	$103.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.087	−0.069%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.037	−0.122%	$7.8M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.003	−0.158%	$28.9M	$50.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.981	−0.182%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.095	−0.060%	$412K	$1.0M	50x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.990	−0.172%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.992	−0.171%	$492K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.001	−0.161%	$75K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.007	−0.155%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.998	−0.164%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.010	−0.151%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.079	−0.077%	$18.2M	$42.1M	50x	as long as short
Kalshi KXHYPEPERP	+0.0109%	8h	93.103	−0.051%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.020	−0.141%	$4.9M	$5.7M	50x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	92.880	−0.291%	$30K	$338K	12x	as long as short
HTX HYPE-USDT	+0.0242%	4h	93.178	+0.029%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	92.962	−0.203%	$77K	$158K	15x	as long as short
RISEx HYPE/USDClong	+0.0280%	1h	93.151	long leg	$2.7M	$6.8M	20x
BloFin HYPE-USDT	+0.0280%	4h	92.998	−0.164%	$16.9M	$12.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0158%	1h	93.020	−0.141%	$1.5M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0466%	1h	93.122	−0.031%	$20.8M	$28.9M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0492%	1h	93.107	−0.047%	$7.4M	$4.6M	50x	as long as short