HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1160%/8h= +127.0% APRnext payment +$1.45 per $10,000 · paid last 24h +0.261%

Price spread now: Lighter RH against Hibachi−0.017%7-day average +0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs+$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$630.626% of the position

Long on Hibachi Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+1.659%+$166 on $10k

Price spread, last 4 days (all we have)−0.043%−$4 · spread now −0.017%, 7d avg +0.080%

Together, before fees+1.616%+ Points / potential airdropHibachi: Active · Lighter RH: Points live · farm board+$162 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter RH is 0.097% cheaper against Hibachi than usual: you would sell low and buy high (spread −0.017% now, against its 7-day average of +0.080%). If the spread goes back, that is −$10 on $10k: about 7 hours of funding at the current rate (+$35 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi HYPE/USDT-P	93.455	−0.1064	get 0.0133% / 1h	37m 57s	$198K	$241K	7x
Short	Lighter RH HYPE	93.439	0.0096	get 0.0012% / 1h	37m 57s	$3.1M	$11.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Hibachi. 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 HibachibpFee Lighter RHbpOrdersPrice spread, now −0.017%Rate

Funding earned: $243.6
Price spread: −0.017% → +0.080%: −$9.73
Slippage, 4 orders: −$53.59
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $171.29
Costs to cover: 0.626%
Break-even: 2.1 days

Slippage from Hibachi: live order book, 6 min ago; Lighter RH: live order book, 6 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 Hibachi live order book, 6 min ago	18.66 bp	33.9 bp −$34	53.7 bp −$537	doesn't fit	doesn't fit
Sell Lighter RH live order book, 6 min ago	0.91 bp	2.0 bp −$2	4.0 bp −$40	27.6 bp −$2,759	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-Plong	−0.1064%	1h	93.455	long leg	$198K	$241K	7x
Aftermath Perps HYPEUSD	−0.0196%	1h	93.586	+0.140%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0114%	1h	93.420	−0.038%	$704K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.474	+0.020%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0067%	1h	93.432	−0.025%	$111K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.430	−0.027%	$86K	$369K	20x	as long as short
Bluefin HYPE-PERP	−0.0030%	1h	93.416	−0.042%	$79K	$155K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0021%	4h	93.402	−0.057%	$145K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.447	−0.009%	$128K	$28K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.516	+0.065%	$1.8M	$5.6M	2.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.426	−0.032%	$20K	$289K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.448	−0.008%	$83K	—	150x	as long as short
Bybit HYPEUSDT	+0.0003%	8h	93.450	−0.006%	$315.3M	$288.3M	75x	as long as short
BingX HYPE-USDT	+0.0003%	4h	93.475	+0.021%	—	$53.6M	—	as long as short
Derive HYPE-PERP	+0.0010%	1h	93.422	−0.035%	$16.2M	$7.4M	10x	as long as short
Phoenix HYPE	+0.0017%	1h	93.512	+0.061%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	93.484	+0.031%	$225.2M	$99.7M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0077%	8h	93.465	+0.010%	$334K	$161K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.394	−0.066%	$1.0M	$4.0M	10x	as long as short
Phemex HYPEUSDT	+0.0089%	8h	93.460	+0.005%	$12.8M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	93.515	+0.064%	$5.0M	$30.5M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.442	−0.014%	$16.1M	$63.9M	20x	as long as short
Lighter RH HYPEshort	+0.0096%	1h	93.439	−0.017%	$3.1M	$11.1M	20x
Popdex HYPEUSDT	+0.0096%	1h	93.401	−0.058%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.410	−0.048%	$22K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.425	−0.032%	$7.5M	$50.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.557	+0.109%	$2.05B	$680.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.478	+0.024%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.446	−0.010%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.478	+0.024%	$374.2M	$930.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.460	+0.005%	$115.4M	$315.3M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.476	+0.022%	$48.4M	$55.2M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.484	+0.031%	$89.3M	$83.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.491	+0.038%	$46.3M	$18.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.491	+0.038%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.479	+0.025%	$28.6M	$56.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.540	+0.091%	$7.5M	$48.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.577	+0.130%	$347K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.492	+0.039%	$677K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.488	+0.035%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.434	−0.023%	$469K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.457	+0.002%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.435	−0.022%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.577	+0.130%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.507	+0.055%	$216K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.450	−0.005%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.443	−0.013%	$395K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.460	+0.005%	$4.7M	$6.1M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.380	−0.081%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	93.425	−0.032%	$77K	$129K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0317%	1h	93.528	+0.078%	$7.4M	$4.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.504	+0.052%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.496	+0.044%	$17.0M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0416%	1h	93.515	+0.064%	$20.9M	$29.6M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.449	−0.007%	$3.2M	$6.4M	20x	as long as short