HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h 0.000%

Price spread now: Lighter against Bulk+0.147%7-day average +0.001% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs+$4as in the Price arb table

costs, in and out, $10k−$100.102% of the position

Long on Bulk Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.078%−$8 · spread now +0.147%, 7d avg +0.001%

Together, before fees−0.076%+ Points / potential airdropLighter: Season 3 · farm board−$8 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 0.146% dearer against Bulk than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk HYPE-USD	93.232	0.0100	pay 0.0013% / 1h	13m 44s	$204K	$8K	10x
Short	Lighter HYPE	93.369	0.0096	get 0.0012% / 1h	13m 44s	$18.6M	$59.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bulk. 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 BulkbpFee LighterbpOrdersPrice spread, now +0.147%Rate

Funding earned: −$0.84
Price spread: +0.147% → +0.001%: $14.61
Slippage, 4 orders: −$3.23
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: $3.54
Costs to cover: 0.102%
Break-even: from the start

Slippage from Bulk: live order book, 5 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 Bulk live order book, 5 min ago	0.54 bp	4.8 bp −$5	7.1 bp −$71	11.1 bp −$1,109	36.6 bp −$18.3K
Sell Lighter live order book, 5 min ago	0.54 bp	0.7 bp −$1	2.8 bp −$28	12.4 bp −$1,239	43.8 bp −$21.9K

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	−0.0441%	1h	93.211	−0.022%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0352%	1h	93.222	−0.011%	$197K	$230K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.238	+0.006%	$1.2M	$3.9M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0125%	1h	93.310	+0.083%	$699K	$934K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.272	+0.043%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.321	+0.095%	$90K	$360K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.388	+0.167%	$127K	$32K	5x	as long as short
Popdex HYPEUSDT	0.0000%	1h	93.260	+0.030%	$58K	$1.2M	50x	as long as short
Perpl HYPE	0.0000%	43m	93.251	+0.021%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.336	+0.112%	$27K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0003%	4h	93.377	+0.155%	$8.9M	$35.9M	300x	as long as short
Orderly PERP_HYPE_USDC	+0.0020%	4h	93.329	+0.104%	$172K	$517K	20x	as long as short
Bybit HYPEUSDT	+0.0023%	8h	93.309	+0.082%	$323.3M	$283.7M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.249	+0.018%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0035%	1h	93.304	+0.077%	$112K	$578K	20x	as long as short
Derive HYPE-PERP	+0.0047%	1h	93.269	+0.039%	$16.3M	$7.0M	10x	as long as short
Gate HYPE_USDT	+0.0060%	4h	93.308	+0.081%	$44.0M	$58.7M	75x	as long as short
MEXC HYPE_USDT	+0.0064%	4h	93.337	+0.112%	$90.2M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0067%	4h	93.348	+0.125%	$382.1M	$894.7M	75x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	93.171	−0.065%	$5.1M	$29.7M	30x	as long as short
Lighter HYPEshort	+0.0096%	1h	93.369	+0.147%	$18.6M	$59.0M	20x
Lighter RH HYPE	+0.0096%	1h	93.388	+0.167%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.331	+0.106%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.352	+0.129%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.260	+0.030%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.255	+0.025%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.401	+0.181%	$2.03B	$669.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.344	+0.120%	$10.0M	$14.4M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.300	+0.073%	$114.3M	$313.3M	50x	as long as short
Bulk HYPE-USDlong	+0.0100%	1h	93.232	long leg	$204K	$8K	10x
KuCoin HYPEUSDTM	+0.0100%	4h	93.382	+0.161%	$47.0M	$18.7M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.287	+0.059%	$226.2M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.297	+0.069%	—	$53.7M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.400	+0.180%	$7.9M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.203	−0.031%	$29.0M	$50.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.199	−0.036%	$7.5M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.153	−0.085%	$414K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.206	−0.028%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.284	+0.056%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.293	+0.065%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.336	+0.111%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.353	+0.130%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.354	+0.131%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.331	+0.106%	$12.7M	$2.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.255	+0.025%	$18.2M	$41.7M	50x	as long as short
Kalshi KXHYPEPERP	+0.0117%	8h	93.425	+0.207%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.410	+0.191%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0231%	4h	93.500	+0.287%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.140	−0.099%	$30K	$338K	12x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.257	+0.027%	$77K	$159K	15x	as long as short
BloFin HYPE-USDT	+0.0260%	4h	93.211	−0.023%	$16.8M	$12.4M	75x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.341	+0.117%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.313	+0.086%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0435%	1h	93.459	+0.243%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.493	+0.280%	$20.9M	$29.0M	50x	as long as short