HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0055%/8h= −6.0% APRnext payment −$0.07 per $10,000 · paid last 24h −0.064%

Price spread now: Lighter RH against GMX−0.035%7-day average +0.002% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.202%−$20 on $10k

Price spread, last 4 days (all we have)−0.005%−$1 · spread now −0.035%, 7d avg +0.002%

Together, before fees−0.208%+ Points / potential airdropLighter RH: Points live · farm board−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter RH is 0.038% cheaper against GMX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.002%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX HYPE/USD [WBTC.b-USDC]	94.295	L +0.0151% / S +0.0022%	pay 0.0019% / 1h	15m 57s	$1.4M	—	100x
Short	Lighter RH HYPE	94.262	0.0096	get 0.0012% / 1h	15m 57s	$3.2M	$11.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against GMX. 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 GMXbpFee Lighter RHbpOrdersPrice spread, now −0.035%Rate

Funding earned: −$11.58
Price spread: −0.035% → +0.002%: −$3.78
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$27.36
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Lighter RH: live order book, 3 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell Lighter RH live order book, 3 min ago	0.85 bp	1.6 bp −$2	2.7 bp −$27	28.2 bp −$2,818	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HYPE on 54 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	−0.1096%	1h	94.167	−0.136%	$200K	$236K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0181%	1h	94.224	−0.075%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.286	−0.010%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0060%	1h	94.253	−0.046%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0054%	1h	94.200	−0.101%	$709K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	94.261	−0.037%	$86K	$368K	20x	as long as short
Bluefin HYPE-PERP	−0.0017%	1h	94.234	−0.065%	$80K	$155K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0012%	4h	94.222	−0.078%	$146K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.284	−0.012%	$129K	$26K	5x	as long as short
Bybit HYPEUSDT	0.0000%	8h	94.229	−0.070%	$316.9M	$289.5M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXHYPEPERP	0.0000%	8h	94.308	+0.013%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.266	−0.031%	$19K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.279	−0.017%	$84K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.307	+0.012%	$207K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0054%	4h	94.251	−0.047%	$227.2M	$99.3M	75x	as long as short
Phemex HYPEUSDT	+0.0057%	8h	94.184	−0.118%	$12.8M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0078%	8h	94.314	+0.019%	$337K	$156K	20x	as long as short
edgeX HYPEUSDC	+0.0084%	4h	94.244	−0.054%	$5.0M	$30.7M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.230	−0.069%	$1.0M	$3.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	94.254	−0.044%	$16.3M	$64.4M	20x	as long as short
Lighter RH HYPEshort	+0.0096%	1h	94.262	−0.035%	$3.2M	$11.1M	20x
Popdex HYPEUSDT	+0.0096%	1h	94.241	−0.058%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.260	−0.038%	$17K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.254	−0.043%	$7.5M	$50.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.350	+0.058%	$2.07B	$687.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.259	−0.039%	$8.8M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.279	−0.018%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.254	−0.044%	$377.0M	$932.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.278	−0.018%	$116.0M	$319.0M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.245	−0.053%	$49.2M	$56.9M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.260	−0.038%	$90.1M	$85.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.255	−0.043%	$46.9M	$18.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.241	−0.058%	—	$53.6M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.273	−0.024%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.229	−0.071%	$29.0M	$56.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.298	+0.002%	$7.6M	$47.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.205	−0.096%	$362K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.297	+0.002%	$682K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.326	+0.033%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.260	−0.038%	$495K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.332	+0.039%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.255	−0.043%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.411	+0.123%	$1.4M	$6.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.275	−0.022%	$218K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.214	−0.086%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.264	−0.034%	$398K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.270	−0.027%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]long	L +0.0151% / S +0.0022%	1h	94.295	long leg	$1.4M	—	100x
Injective HYPE/USDC PERP	+0.0205%	1h	94.610	+0.334%	$31K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0259%	1h	94.334	+0.041%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.246	−0.052%	$77K	$129K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.245	−0.053%	$16.9M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0412%	1h	94.315	+0.021%	$20.2M	$30.4M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.275	−0.021%	$3.2M	$6.4M	20x	as long as short