HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0080%/8h= −8.8% APRnext payment −$0.10 per $10,000 · paid last 24h +0.022%

Price spread now: Lighter against Coinbase International+0.054%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$190.190% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.088%+$9 on $10k

Price spread, last 3 days (all we have)+0.049%+$5 · spread now +0.054%, 7d avg +0.070%

Together, before fees+0.137%+ Points / potential airdropLighter: Season 3 · farm board+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.070%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.088%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International HYPE-PERP-INTX	93.280	0.0176	pay 0.0022% / 1h	6m 52s	$4.9M	$5.7M	50x
Short	Lighter HYPE	93.331	0.0096	get 0.0012% / 1h	6m 52s	$18.6M	$59.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. 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 Coinbase InternationalbpFee LighterbpOrdersPrice spread, now +0.054%Rate

Funding earned: −$16.8
Price spread: +0.054% → +0.070%: −$1.5
Slippage, 4 orders: −$9.02
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$37.33
Costs to cover: 0.190%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Lighter: live order book, 7 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 Coinbase International live order book, 2 min ago	0.54 bp	10.6 bp −$11	15.3 bp −$153	38.1 bp −$3,810	doesn't fit
Sell Lighter live order book, 7 min ago	0.75 bp	0.9 bp −$1	2.8 bp −$28	11.1 bp −$1,110	38.8 bp −$19.4K

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	−0.0476%	1h	93.219	−0.065%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0408%	1h	93.255	−0.027%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.134	−0.157%	$1.2M	$3.9M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0130%	1h	93.160	−0.129%	$699K	$895K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.192	−0.094%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.269	−0.012%	$90K	$358K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.227	−0.057%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.246	−0.036%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.272	−0.009%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0003%	4h	93.316	+0.038%	$8.9M	$35.7M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex HYPEUSDT	+0.0008%	1h	93.241	−0.042%	$58K	$1.2M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0016%	4h	93.253	−0.029%	$176K	$524K	20x	as long as short
Bybit HYPEUSDT	+0.0020%	8h	93.360	+0.086%	$323.5M	$282.2M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.306	+0.028%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0047%	1h	93.248	−0.034%	$111K	$577K	20x	as long as short
Gate HYPE_USDT	+0.0058%	4h	93.356	+0.081%	$44.1M	$58.8M	75x	as long as short
MEXC HYPE_USDT	+0.0060%	4h	93.354	+0.079%	$90.2M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0061%	4h	93.344	+0.069%	$383.2M	$887.1M	75x	as long as short
Derive HYPE-PERP	+0.0061%	1h	93.213	−0.072%	$16.3M	$7.0M	10x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.250	−0.032%	$5.1M	$29.6M	30x	as long as short
Lighter HYPEshort	+0.0096%	1h	93.331	+0.054%	$18.6M	$59.0M	20x
Lighter RH HYPE	+0.0096%	1h	93.305	+0.027%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.250	−0.032%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.192	−0.095%	$338K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.260	−0.021%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.193	−0.093%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.306	+0.028%	$2.03B	$661.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.221	−0.063%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.370	+0.096%	$114.1M	$312.7M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.352	+0.077%	$47.0M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.401	+0.130%	$226.6M	$102.7M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.358	+0.084%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.331	+0.055%	$7.8M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.212	−0.072%	$30.8M	$51.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.317	+0.040%	$7.5M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.303	+0.025%	$415K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.252	−0.030%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.276	−0.005%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.261	−0.020%	$493K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.255	−0.027%	$76K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.270	−0.011%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.255	−0.027%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.234	−0.049%	$12.7M	$2.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.280	0.000%	$204K	$8K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.336	+0.060%	$18.2M	$41.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0118%	8h	93.272	−0.009%	$1.9M	$5.2M	2.3x	as long as short
Coinbase International HYPE-PERP-INTXlong	+0.0176%	1h	93.280	long leg	$4.9M	$5.7M	50x
HTX HYPE-USDT	+0.0220%	4h	93.369	+0.095%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.530	+0.268%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0243%	4h	93.225	−0.059%	$16.9M	$12.4M	75x	as long as short
Reya HYPERUSDPERP	+0.0247%	1h	93.245	−0.037%	$77K	$159K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.288	+0.008%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0165%	1h	93.271	−0.010%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0372%	1h	93.352	+0.077%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0465%	1h	93.387	+0.114%	$20.9M	$28.9M	50x	as long as short