Funding you earn now, next payment 22:00 UTC+0.0320%/8h= +35.0% APRnext payment +$0.40 per $10,000 · paid last 24h +0.106%
Price spread now: Hyperliquid against Lighter+0.109%7-day average +0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$230.232% of the position
Funding, last 7 days+0.094%+$9 on $10k
+Price spread, last 4 days (all we have)−0.104%−$10 · spread now +0.109%, 7d avg +0.026%
=Together, before fees−0.010%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board−$1 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Hyperliquid is 0.083% dearer against Lighter than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.026%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.094% in total (about 4.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.40 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter DOGE | 0.09929 | 0.0096 | pay 0.0012% / 1h | 9m 41s | $781K | $5.1M | 15x |
| Short | Hyperliquid DOGE | 0.09940 | 0.0416 | get 0.0052% / 1h | 9m 41s | $109.4M | $79.7M | 10x |
Lighter DOGE
Hyperliquid DOGEFunding 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
- $67.14
- Price spread: +0.109% → +0.026%
- $8.31
- Slippage, 4 orders
- −$14.15
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $52.3
- Costs to cover
- 0.232%
- Break-even
- 1.5 days
Slippage from Lighter: live order book, 8 min ago; Hyperliquid: live order book, 4 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, 8 min ago | 1.81 bp | 4.9 bp −$5 | 7.4 bp −$74 | 24.8 bp −$2,479 | doesn't fit |
| Sell Hyperliquid live order book, 4 min ago | 0.55 bp | 5.7 bp −$6 | 7.6 bp −$76 | doesn't fit | doesn't fit |
DOGE on 44 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget DOGEUSDT | −0.0280% | 8h | 0.09918 | −0.116% | $152.1M | $261.3M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09959 | +0.299% | $369K | $4.4M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.09965 | +0.357% | $623K | $106K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.09965 | +0.357% | $32K | — | 150x | as long as short |
| Gate DOGE_USDT | +0.0077% | 8h | 0.09924 | −0.055% | $236.6M | $120.9M | 75x | as long as short |
| Phoenix DOGE | +0.0080% | 1h | 0.09936 | +0.064% | $15K | $225K | 10x | as long as short |
| dYdX DOGE-USD | +0.0093% | 1h | 0.09929 | −0.007% | $223K | $44K | 10x | as long as short |
| Katana Perps DOGE-USD | +0.0096% | 8h | 0.09929 | −0.005% | $841 | $346K | 10x | as long as short |
| Lighter DOGElong | +0.0096% | 1h | 0.09929 | long leg | $781K | $5.1M | 15x | |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09972 | +0.428% | $632K | $698K | 10x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
Gate DOGE_USDT
Phoenix DOGE
dYdX DOGE-USD
Katana Perps DOGE-USD
Nado DOGE-PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOGEUSDT | +0.0100% | 8h | 0.09935 | +0.055% | $4.9M | $40.7M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09928 | −0.012% | $334K | $496K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09928 | −0.017% | $314.4M | $1.27B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09922 | −0.076% | $158.7M | $399.6M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09928 | −0.015% | $108.8M | $893.7M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09935 | +0.055% | $28K | $76K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09927 | −0.025% | $111.4M | $221.0M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09929 | −0.005% | $65.0M | $39.3M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09929 | −0.005% | — | $3.4M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09944 | +0.149% | $932K | $7.8M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09926 | −0.036% | $264K | $112.9M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09909 | −0.208% | $632K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09920 | −0.096% | $143K | $226K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09970 | +0.405% | $272K | $529K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09964 | +0.347% | $57K | $396K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09913 | −0.167% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09959 | +0.295% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09960 | +0.307% | $2K | $3.4M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09958 | +0.285% | $6.0M | $47.6M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09957 | +0.277% | $92.3M | $19.0M | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09947 | +0.177% | $381K | $14K | 10x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09926 | −0.032% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09925 | −0.043% | $550K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09962 | +0.324% | $19K | — | 3x | as long as short |
| 01 Exchange DOGEUSD | +0.0168% | 1h | 0.09974 | +0.452% | $527 | $4K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0175% | 1h | 0.09972 | +0.428% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09949 | +0.196% | $15.2M | $23.9M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0224% | 1h | 0.09971 | +0.418% | $2.0M | $22.6M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0244% / S −0.0247% | 1h | 0.09964 | +0.349% | $318K | — | 200x | as long as short |
| Backpack DOGE_USDC_PERP | +0.0267% | 1h | 0.09958 | +0.287% | $526K | $931K | 15x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0287% | 1h | 0.09959 | +0.299% | $6.0M | $31.8M | 50x | as long as short |
| Hyperliquid DOGEshort | +0.0416% | 1h | 0.09940 | +0.109% | $109.4M | $79.7M | 10x | |
| RISEx DOGE/USDC | +0.0536% | 1h | 0.09936 | +0.066% | $312K | $472K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1013% | 1h | 0.09930 | +0.005% | $5K | $180K | 12x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDC
Variational Omni DOGE
edgeX DOGEUSDC
GRVT DOGE_USDT_Perp
ApeX Omni DOGEUSDT
Polymarket Perps DOGE-USD
Orderly PERP_DOGE_USDC
Derive DOGE-PERP
SunX DOGE-USDT
SoDEX DOGE-USD
HTX DOGE-USDT
Phemex DOGEUSDT
Bulk DOGE-USD
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
01 Exchange DOGEUSD
Reya DOGERUSDPERP
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
Backpack DOGE_USDC_PERP
Kraken Futures PF_DOGEUSD
RISEx DOGE/USDC
Injective DOGE/USDC PERP