HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0048%/8h= −5.3% APRnext payment −$0.06 per $10,000 · paid last 24h +0.004%

Price spread now: Lighter RH against Coinbase International−0.041%7-day average +0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$210.212% of the position

Long on Coinbase International Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.035%+$3 on $10k

Price spread, last 4 days (all we have)+0.126%+$13 · spread now −0.041%, 7d avg +0.041%

Together, before fees+0.161%+ Points / potential airdropLighter RH: Points live · farm board+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter RH is 0.082% cheaper against Coinbase International than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.041%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International HYPE-PERP-INTX	92.880	0.0144	pay 0.0018% / 1h	45m 16s	$4.7M	$5.6M	50x
Short	Lighter RH HYPE	92.842	0.0096	get 0.0012% / 1h	45m 16s	$3.1M	$11.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$10.08
Price spread: −0.041% → +0.041%: −$8.21
Slippage, 4 orders: −$11.24
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$39.53
Costs to cover: 0.212%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Lighter RH: 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 Coinbase International live order book, 4 min ago	3.76 bp	8.8 bp −$9	12.7 bp −$127	32.6 bp −$3,257	doesn't fit
Sell Lighter RH live order book, 4 min ago	1.40 bp	2.2 bp −$2	4.1 bp −$41	23.3 bp −$2,333	doesn't fit

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
Hibachi HYPE/USDT-P	−0.0904%	1h	92.783	−0.105%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0262%	1h	92.888	+0.009%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.774	−0.114%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.917	+0.040%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0062%	4h	92.859	−0.023%	$158K	$665K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.854	−0.028%	$127K	$29K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	92.932	+0.056%	$1.8M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	92.845	−0.038%	$22K	$301K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.856	−0.026%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0006%	1h	92.778	−0.110%	$112K	$578K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	+0.0008%	4h	92.812	−0.073%	$44.7M	$53.8M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0019%	1h	92.820	−0.065%	$698K	$1.1M	10x	as long as short
Phoenix HYPE	+0.0026%	1h	92.899	+0.020%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	92.850	−0.032%	$316.1M	$282.7M	75x	as long as short
01 Exchange HYPEUSD	+0.0048%	1h	92.837	−0.046%	$87K	$362K	20x	as long as short
Phemex HYPEUSDT	+0.0049%	8h	92.922	+0.045%	$12.5M	$2.7M	50x	as long as short
Bitget HYPEUSDT	+0.0074%	4h	92.849	−0.033%	$224.9M	$99.1M	75x	as long as short
Popdex HYPEUSDT	+0.0088%	1h	92.804	−0.082%	$70K	$1.1M	50x	as long as short
Aster HYPEUSDT	+0.0090%	4h	92.818	−0.067%	$8.7M	$36.1M	300x	as long as short
Lighter HYPE	+0.0096%	1h	92.828	−0.056%	$16.0M	$62.4M	20x	as long as short
Lighter RH HYPEshort	+0.0096%	1h	92.842	−0.041%	$3.1M	$11.6M	20x
Paradex HYPE-USD-PERP	+0.0097%	8h	92.824	−0.060%	$339K	$163K	20x	as long as short
edgeX HYPEUSDC	+0.0099%	4h	92.872	−0.009%	$4.9M	$29.6M	30x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.800	−0.086%	$39K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.805	−0.081%	$7.4M	$45.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.854	−0.028%	$2.02B	$665.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.822	−0.062%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.848	−0.034%	$373.4M	$904.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.865	−0.016%	$113.8M	$304.4M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.942	+0.067%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.793	−0.094%	$87.2M	$80.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.817	−0.068%	$46.0M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.824	−0.060%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.900	+0.022%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.879	−0.001%	$28.6M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.944	+0.069%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.852	−0.030%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.859	−0.023%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.866	−0.015%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.839	−0.044%	$468K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.849	−0.033%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.829	−0.054%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.805	−0.081%	$31K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.868	−0.013%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.839	−0.044%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.870	−0.011%	$393K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTXlong	+0.0144%	1h	92.880	long leg	$4.7M	$5.6M	50x
HTX HYPE-USDT	+0.0176%	4h	93.064	+0.198%	$1.4M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.930	+0.054%	$20.6M	$30.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.740	−0.151%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0264%	1h	92.794	−0.093%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.820	−0.064%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.867	−0.014%	$16.7M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0407%	1h	92.954	+0.080%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.871	−0.010%	$3.1M	$6.4M	20x	as long as short