Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.001%
Price spread now: Lighter against Hyperliquid−0.025%7-day average +0.048% · you buy dearer than you sell
Net, funding: paid 7d − costs−$75as in the Funding arb table
Net, price: spread back to 7d avg − costs−$81as in the Price arb table
costs, in and out, $10k−$740.742% of the position
Funding, last 7 days−0.008%−$1 on $10k
+Price spread, last 4 days (all we have)+0.025%+$3 · spread now −0.025%, 7d avg +0.048%
=Together, before fees+0.017%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board+$2 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 0.073% cheaper against Hyperliquid than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.048%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid PYTH | 0.06314 | 0.0100 | pay 0.0013% / 1h | 57m 37s | $2.0M | $1.6M | 5x |
| Short | Lighter PYTH | 0.06312 | 0.0096 | get 0.0012% / 1h | 57m 37s | $190K | $206K | 5x |
Hyperliquid PYTH
Lighter PYTHFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$0.84
- Price spread: −0.025% → +0.048%
- −$7.3
- Slippage, 4 orders
- −$65.17
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$82.31
- Costs to cover
- 0.742%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 3 min ago; Lighter: live order book, 47 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 Hyperliquid live order book, 3 min ago | 2.68 bp | 21.8 bp −$22 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 47 min ago | 3.95 bp | 11.5 bp −$11 | 78.4 bp −$784 | doesn't fit | doesn't fit |
PYTH on 23 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack PYTH_USDC_PERP | −0.0320% | 1h | 0.06323 | +0.155% | $37K | $50K | 10x | as long as short |
| Gate PYTH_USDT | −0.0198% | 4h | 0.06300 | −0.215% | $1.0M | $503K | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06307 | −0.106% | $187K | $19 | 5x | as long as short |
| BloFin PYTH-USDT | +0.0002% | 4h | 0.06331 | +0.276% | $428K | $86K | 75x | as long as short |
| MEXC PYTH_USDT | +0.0014% | 4h | 0.06301 | −0.200% | $10.0M | $2.5M | 125x | as long as short |
| Aster PYTHUSDT | +0.0015% | 4h | 0.06312 | −0.033% | $20K | $43K | 10x | as long as short |
| Binance PYTHUSDT | +0.0015% | 4h | 0.06315 | +0.022% | $9.0M | $17.9M | 75x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −0.849% | $553 | $220K | 5.5x | as long as short |
| Aevo PYTH-PERP | +0.0080% | 1h | 0.06323 | +0.146% | $23K | — | 3x | as long as short |
| Lighter PYTHshort | +0.0096% | 1h | 0.06312 | −0.025% | $190K | $206K | 5x |
Backpack PYTH_USDC_PERP
Gate PYTH_USDT
dYdX PYTH-USD
BloFin PYTH-USDT
MEXC PYTH_USDT
Aster PYTHUSDT
Binance PYTHUSDT
Injective PYTH/USDC PERP
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06298 | −0.240% | $3K | — | 10x | as long as short |
| Hyperliquid PYTHlong | +0.0100% | 1h | 0.06314 | long leg | $2.0M | $1.6M | 5x | |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06317 | +0.054% | $7.5M | $4.7M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06316 | +0.038% | $2.1M | $3.4M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06310 | −0.057% | $1.5M | $343K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06307 | −0.105% | $2.7M | $2.2M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06305 | −0.136% | — | $2.7M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06326 | +0.200% | $38K | $25K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06322 | +0.139% | $3K | $2K | 10x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0104% | 1h | 0.06385 | +1.131% | $40K | $18K | 25x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06325 | +0.173% | — | — | 20x | as long as short |
| Kraken Futures PF_PYTHUSD | +0.0414% | 1h | 0.06327 | +0.216% | $386K | $294K | 25x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | +0.0698% | 1h | 0.06337 | +0.371% | $10K | $10K | 10x | as long as short |
Paradex PYTH-USD-PERP
Bybit PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Coinbase International PYTH-PERP-INTX
Reya PYTHRUSDPERP
Kraken Futures PF_PYTHUSD
Deribit PYTH_USDC-PERPETUAL