HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.030%

Price spread now: Lighter against dYdX−0.076%7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$840.836% of the position

Long on dYdX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.126%+$13 on $10k

Price spread, last 4 days (all we have)+0.066%+$7 · spread now −0.076%, 7d avg +0.033%

Together, before fees+0.192%+ Points / potential airdropLighter: Season 3 · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.109% cheaper against dYdX than usual: you would sell low and buy high (spread −0.076% now, against its 7-day average of +0.033%). If the spread goes back, that is −$11 on $10k: about 3.8 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX HYPE-USD	93.724	0	get 0.0000% / 1h	54m 33s	$129K	$29K	5x
Short	Lighter HYPE	93.653	0.0096	get 0.0012% / 1h	54m 33s	$16.1M	$63.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against dYdX. 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 dYdXbpFee LighterbpOrdersPrice spread, now −0.076%Rate

Funding earned: $20.16
Price spread: −0.076% → +0.033%: −$10.92
Slippage, 4 orders: −$73.57
Fee dYdX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$74.33
Costs to cover: 0.836%
Break-even: 32.8 days

Slippage from dYdX: live order book, 54 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 dYdX live order book, 54 min ago	36.06 bp	41.1 bp −$41	48.2 bp −$482	123.1 bp −$12.3K	1048.6 bp −$524.3K
Sell Lighter live order book, 5 min ago	0.25 bp	0.3 bp $0	1.8 bp −$18	9.6 bp −$962	41.5 bp −$20.7K

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	−0.1224%	1h	93.798	+0.079%	$199K	$243K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0267%	1h	94.002	+0.296%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0162%	1h	93.650	−0.079%	$707K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.763	+0.042%	$86K	$372K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.750	+0.028%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0017%	4h	93.724	0.000%	$149K	$681K	20x	as long as short
dYdX HYPE-USDlong	0.0000%	1h	93.724	long leg	$129K	$29K	5x
Perpl HYPE	0.0000%	43m	93.760	+0.038%	$22K	$285K	10x	as long as short
Bluefin HYPE-PERP	+0.0002%	1h	93.745	+0.022%	$79K	$166K	20x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.781	+0.061%	$63K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	+0.0012%	4h	93.677	−0.050%	—	$53.8M	—	as long as short
Bybit HYPEUSDT	+0.0015%	8h	93.730	+0.006%	$316.7M	$287.6M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.872	+0.158%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	93.744	+0.021%	$225.9M	$99.5M	75x	as long as short
Phemex HYPEUSDT	+0.0063%	8h	93.789	+0.069%	$12.8M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.922	+0.211%	$5.0M	$30.4M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.674	−0.053%	$1.0M	$4.0M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0088%	8h	93.680	−0.047%	$340K	$158K	20x	as long as short
ApeX Omni HYPEUSDT	+0.0089%	1h	93.802	+0.083%	$348K	$1.0M	50x	as long as short
Lighter HYPEshort	+0.0096%	1h	93.653	−0.076%	$16.1M	$63.4M	20x
Lighter RH HYPE	+0.0096%	1h	93.659	−0.069%	$3.1M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.760	+0.038%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.710	−0.015%	$20K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.757	+0.035%	$6.7M	$50.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.783	+0.063%	$2.05B	$680.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.750	+0.028%	$8.9M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.676	−0.051%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.745	+0.022%	$375.9M	$929.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.733	+0.010%	$115.7M	$316.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.213	+0.522%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.678	−0.049%	$48.3M	$54.8M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.647	−0.082%	$88.9M	$83.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.647	−0.082%	$46.2M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.765	+0.044%	$7.2M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.759	+0.037%	$28.7M	$56.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.839	+0.123%	$7.7M	$47.9M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.798	+0.079%	$679K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.794	+0.075%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.741	+0.018%	$469K	$2.8M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.804	+0.085%	$112K	$581K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.731	+0.007%	$16.4M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.861	+0.146%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.752	+0.030%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.961	+0.253%	$1.4M	$6.7M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.664	−0.064%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.755	+0.033%	$396K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0109%	8h	93.838	+0.122%	$1.8M	$5.6M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.790	+0.070%	$4.7M	$6.1M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.740	+0.017%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	93.722	−0.002%	$77K	$130K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0294%	1h	93.843	+0.127%	$7.4M	$4.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	93.784	+0.064%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.752	+0.030%	$17.0M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0414%	1h	93.828	+0.111%	$20.9M	$29.6M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.752	+0.029%	$3.2M	$6.4M	20x	as long as short