HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0054%/8h= −6.0% APRnext payment −$0.07 per $10,000 · paid last 24h −0.062%

Price spread now: Lighter against Injective−0.278%7-day average −0.121% · you buy dearer than you sell

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

Long on Injective Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−2.236%−$224 on $10k

Price spread, last 4 days (all we have)+0.398%+$40 · spread now −0.278%, 7d avg −0.121%

Together, before fees−1.838%+ Points / potential airdropLighter: Season 3 · farm board−$184 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 is 0.156% cheaper against Injective than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.121%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective HYPE/USDC PERP	93.000	0.0150	pay 0.0019% / 1h	17m 23s	$30K	$339K	12x
Short	Lighter HYPE	92.742	0.0096	get 0.0012% / 1h	17m 23s	$16.0M	$62.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Injective. 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 InjectivebpFee LighterbpOrdersPrice spread, now −0.278%Rate

Funding earned: −$11.44
Price spread: −0.278% → −0.121%: −$15.64
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Lighter: 0 bp × 2 orders: $0
Net: −$27.1
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Injective: live order book, 42 min ago; Lighter: live order book, 7 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 Injective live order book, 42 min ago	14.57 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.75 bp	0.8 bp −$1	1.7 bp −$17	10.2 bp −$1,022	41.3 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
Arcus HYPE-USD	−0.0948%	1h	92.676	−0.348%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0264%	1h	92.678	−0.346%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0241%	1h	92.707	−0.315%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.687	−0.337%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0065%	4h	92.703	−0.319%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	92.757	−0.261%	$86K	$361K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.770	−0.247%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.733	−0.287%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.751	−0.268%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0026%	8h	92.666	−0.359%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	+0.0035%	1h	92.660	−0.366%	$697K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0038%	4h	92.730	−0.290%	—	$53.4M	—	as long as short
Aster HYPEUSDT	+0.0042%	4h	92.728	−0.292%	$8.7M	$36.2M	300x	as long as short
Phoenix HYPE	+0.0043%	1h	92.817	−0.197%	$210K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0045%	1h	92.730	−0.290%	$110K	$578K	20x	as long as short
Bybit HYPEUSDT	+0.0046%	8h	92.713	−0.309%	$316.6M	$281.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0089%	8h	92.735	−0.285%	$113.6M	$303.9M	50x	as long as short
Gate HYPE_USDT	+0.0090%	4h	92.722	−0.299%	$44.5M	$55.3M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	92.757	−0.261%	$338K	$163K	20x	as long as short
Lighter HYPEshort	+0.0096%	1h	92.742	−0.278%	$16.0M	$62.6M	20x
Lighter RH HYPE	+0.0096%	1h	92.741	−0.278%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.741	−0.278%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.730	−0.290%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.723	−0.297%	$7.1M	$45.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.776	−0.241%	$2.02B	$663.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.769	−0.248%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.751	−0.268%	$372.6M	$902.6M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.734	−0.286%	$87.4M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.746	−0.273%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.741	−0.278%	$224.5M	$98.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.721	−0.300%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.688	−0.336%	$28.6M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.808	−0.206%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.760	−0.258%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.701	−0.322%	$666K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.781	−0.236%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.747	−0.272%	$465K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.717	−0.304%	$78K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.718	−0.303%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.733	−0.287%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.733	−0.287%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.826	−0.187%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.701	−0.321%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.708	−0.314%	$18.1M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.733	−0.287%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0110%	4h	92.754	−0.265%	$5.0M	$29.6M	30x	as long as short
Injective HYPE/USDC PERPlong	+0.0150%	1h	93.000	long leg	$30K	$339K	12x
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.750	−0.269%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0239%	8h	92.750	−0.269%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0262%	1h	92.718	−0.304%	$79K	$132K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.744	−0.275%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.797	−0.219%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.775	−0.242%	$16.7M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0375%	1h	92.824	−0.189%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.806	−0.208%	$3.2M	$6.4M	20x	as long as short