HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0076%/8h= −8.3% APRnext payment −$0.09 per $10,000 · paid last 24h −0.015%

Price spread now: Derive against Lighter−0.103%7-day average −0.070% · you buy dearer than you sell

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

Long on Lighter Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 3 days (all we have)+0.058%+$6 · spread now −0.103%, 7d avg −0.070%

Together, before fees+0.049%+ Points / potential airdropLighter: Season 3 · farm board+$5 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 Derive is 0.033% cheaper against Lighter than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.070%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter HYPE	93.759	0.0096	pay 0.0012% / 1h	22m 17s	$18.9M	$60.2M	20x
Short	Derive HYPE-PERP	93.662	0.0020	get 0.0003% / 1h	22m 17s	$16.4M	$7.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 LighterbpFee DerivebpOrdersPrice spread, now −0.103%Rate

Funding earned: −$15.89
Price spread: −0.103% → −0.070%: −$3.33
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Derive: 3 bp × 2 orders: −$6
Net: −$25.22
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 7 min ago; Derive: no order-book sample. 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 Lighter live order book, 7 min ago	0.22 bp	0.6 bp −$1	3.7 bp −$37	12.4 bp −$1,239	42.6 bp −$21.3K
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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 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	−0.0960%	1h	93.526	−0.248%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0387%	1h	93.637	−0.130%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.581	−0.190%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0082%	1h	93.450	−0.329%	$703K	$910K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.557	−0.215%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.708	−0.054%	$86K	$366K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0001%	4h	93.709	−0.053%	$168K	$586K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.662	−0.104%	$127K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.712	−0.050%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.737	−0.024%	$26K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0006%	4h	93.696	−0.067%	$8.9M	$36.0M	300x	as long as short
Phoenix HYPE	+0.0009%	1h	93.618	−0.150%	$214K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0017%	8h	93.700	−0.063%	$322.1M	$283.7M	75x	as long as short
Derive HYPE-PERPshort	+0.0020%	1h	93.662	−0.103%	$16.4M	$7.1M	10x
Binance HYPEUSDT	+0.0049%	4h	93.716	−0.045%	$383.0M	$896.4M	75x	as long as short
MEXC HYPE_USDT	+0.0050%	4h	93.717	−0.045%	$87.8M	$81.9M	100x	as long as short
edgeX HYPEUSDC	+0.0062%	4h	93.464	−0.315%	$5.1M	$29.7M	30x	as long as short
Phemex HYPEUSDT	+0.0068%	8h	93.724	−0.037%	$12.8M	$2.6M	50x	as long as short
Gate HYPE_USDT	+0.0076%	4h	93.698	−0.065%	$44.0M	$59.7M	75x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	93.735	−0.025%	$59K	$1.2M	50x	as long as short
Bullet HYPE-USD	+0.0093%	1h	93.707	−0.056%	$113K	$576K	20x	as long as short
Lighter HYPElong	+0.0096%	1h	93.759	long leg	$18.9M	$60.2M	20x
Lighter RH HYPE	+0.0096%	1h	93.730	−0.031%	$3.0M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.730	−0.031%	$399K	$318K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0099%	8h	93.713	−0.049%	$115.5M	$321.3M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.674	−0.091%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.650	−0.116%	$16K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.665	−0.101%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.657	−0.108%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.625	−0.143%	$204K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.711	−0.051%	$46.4M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.729	−0.032%	$227.0M	$102.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.703	−0.060%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.753	−0.006%	$7.9M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.574	−0.197%	$31.2M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.619	−0.149%	$7.6M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.485	−0.292%	$358K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.514	−0.261%	$676K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.699	−0.064%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.732	−0.029%	$491K	$2.4M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.699	−0.064%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.690	−0.073%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.700	−0.063%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.694%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.691	−0.072%	$18.4M	$42.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0134%	8h	93.672	−0.093%	$1.9M	$5.0M	2.3x	as long as short
Hyperliquid HYPE	+0.0150%	1h	93.759	0.000%	$2.04B	$677.3M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.740	−0.020%	$4.9M	$5.7M	50x	as long as short
BloFin HYPE-USDT	+0.0203%	4h	93.528	−0.246%	$17.1M	$12.6M	75x	as long as short
HTX HYPE-USDT	+0.0206%	4h	93.868	+0.116%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.690	−0.073%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.741	−0.019%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0337% / S −0.0163%	1h	93.733	−0.027%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0550%	1h	93.822	+0.067%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0578%	1h	93.813	+0.057%	$20.9M	$29.5M	50x	as long as short