Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h −0.010%
Price spread now: Hyperliquid against Lighter−0.076%7-day average −0.011% · you buy dearer than you sell
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$86as in the Price arb table
costs, in and out, $10k−$790.791% of the position
Funding, last 7 days+0.663%+$66 on $10k
+Price spread, last 4 days (all we have)+0.031%+$3 · spread now −0.076%, 7d avg −0.011%
=Together, before fees+0.695%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board+$69 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: Hyperliquid is 0.064% cheaper against Lighter than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.011%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter S | 0.04101 | 0.0096 | pay 0.0012% / 1h | 45m 39s | $171K | $156K | 5x |
| Short | Hyperliquid S | 0.04098 | 0.0100 | get 0.0013% / 1h | 45m 39s | $1.0M | $556K | 5x |
Lighter S
Hyperliquid SFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Lighter. 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: −0.076% → −0.011%
- −$6.42
- Slippage, 4 orders
- −$70.14
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$84.71
- Costs to cover
- 0.791%
- Break-even
- 713.0 days
Slippage from Lighter: live order book, 64 min ago; Hyperliquid: 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 Lighter live order book, 64 min ago | 6.21 bp | 23.2 bp −$23 | 103.7 bp −$1,037 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 3.05 bp | 27.2 bp −$27 | doesn't fit | doesn't fit | doesn't fit |
S on 25 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange SUSD | −1.0544% | 1h | 0.03940 | −3.926% | $24K | $2K | 5x | as long as short |
| Kraken Futures PF_SUSD | −0.1680% | 1h | 0.04089 | −0.295% | $34K | $16K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1456% | 1h | 0.04022 | −1.926% | $48K | $16K | 25x | as long as short |
| Variational Omni S | −0.0306% | 4h | 0.04092 | −0.225% | $634K | $30K | — | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0206% / S +0.0198% | 1h | 0.04103 | +0.041% | $1K | — | 100x | as long as short |
| Reya SRUSDPERP | −0.0101% | 1h | 0.04098 | −0.077% | $4 | — | 15x | as long as short |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.04102 | +0.014% | $2K | — | 150x | as long as short |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | −0.024% | $2K | $37K | 12x | as long as short |
| Orderly PERP_S_USDC | +0.0064% | 4h | 0.04100 | −0.024% | $102K | $333K | 10x | as long as short |
| Lighter Slong | +0.0096% | 1h | 0.04101 | long leg | $171K | $156K | 5x |
01 Exchange SUSD
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
Variational Omni S
GMX S/USD [WBTC.b-USDC]
Reya SRUSDPERP
gTrade (Gains Network) S/USD
Injective S/USDC PERP
Orderly PERP_S_USDCShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid Sshort | +0.0100% | 1h | 0.04098 | −0.076% | $1.0M | $556K | 5x | |
| Aster SUSDT | +0.0100% | 4h | 0.04096 | −0.117% | $45K | $133K | 10x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.04094 | −0.171% | $5.7M | $14.0M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.04089 | −0.293% | $5.8M | $4.5M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.04092 | −0.219% | $1.0M | $4.0M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.04094 | −0.171% | $336K | $200K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.04095 | −0.146% | $4.0M | $1.8M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.04091 | −0.244% | $1.9M | $2.7M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.04098 | −0.073% | $1.2M | $2.2M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.04094 | −0.171% | — | $6.8M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.04090 | −0.268% | $25K | $451K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.04093 | −0.196% | $230K | $1.1M | 10x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.04088 | −0.317% | — | $111K | 75x | as long as short |
| Deribit S_USDC-PERPETUAL | +0.0725% | 1h | 0.04106 | +0.122% | $69K | $10K | 10x | as long as short |
| Backpack S_USDC_PERP | +0.1488% | 1h | 0.04110 | +0.219% | $121K | $359K | 5x | as long as short |
Aster SUSDT
Binance SUSDT
Bybit SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
ApeX Omni SUSDT
Extended S-USD
BloFin S-USDT
Deribit S_USDC-PERPETUAL
Backpack S_USDC_PERP