HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h −0.028%

Price spread now: dYdX against Lighter−0.024%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$620.618% of the position

Long on Lighter Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.125%−$12 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now −0.024%, 7d avg −0.034%

Together, before fees−0.091%+ Points / potential airdropLighter: Season 3 · farm board−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.034%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter HYPE	94.189	0.0096	pay 0.0012% / 1h	44m 48s	$19.1M	$59.3M	20x
Short	dYdX HYPE-USD	94.166	0	get 0.0000% / 1h	44m 48s	$128K	$30K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Lighter. 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 LighterbpFee dYdXbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$20.16
Price spread: −0.024% → −0.034%: $1
Slippage, 4 orders: −$51.76
Fee Lighter: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$80.92
Costs to cover: 0.618%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; dYdX: live order book, 34 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 Lighter live order book, 4 min ago	0.41 bp	0.4 bp $0	3.4 bp −$34	12.4 bp −$1,239	35.0 bp −$17.5K
Sell dYdX live order book, 34 min ago	25.09 bp	30.1 bp −$30	72.2 bp −$722	306.1 bp −$30.6K	1561.5 bp −$780.8K

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	−0.0600%	1h	94.204	+0.016%	$199K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0438%	1h	94.104	−0.090%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	94.132	−0.060%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.203	+0.015%	$3K	$331	25x	as long as short
dYdX HYPE-USDshort	0.0000%	1h	94.166	−0.024%	$128K	$30K	5x
Perpl HYPE	0.0000%	43m	94.205	+0.018%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.237	+0.052%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	94.301	+0.119%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0012%	4h	94.196	+0.008%	$165K	$552K	20x	as long as short
Bybit HYPEUSDT	+0.0022%	8h	94.143	−0.048%	$324.7M	$281.8M	75x	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	94.150	−0.041%	$705K	$909K	10x	as long as short
Aster HYPEUSDT	+0.0044%	4h	94.189	0.000%	$8.9M	$35.9M	300x	as long as short
Phemex HYPEUSDT	+0.0054%	8h	94.184	−0.005%	$12.8M	$2.6M	50x	as long as short
01 Exchange HYPEUSD	+0.0056%	1h	94.216	+0.029%	$87K	$364K	20x	as long as short
Gate HYPE_USDT	+0.0074%	4h	94.170	−0.020%	$44.3M	$58.4M	75x	as long as short
MEXC HYPE_USDT	+0.0078%	4h	94.166	−0.024%	$88.9M	$81.1M	100x	as long as short
Binance HYPEUSDT	+0.0079%	4h	94.155	−0.036%	$385.8M	$889.7M	75x	as long as short
edgeX HYPEUSDC	+0.0079%	4h	94.119	−0.073%	$5.1M	$29.8M	30x	as long as short
Derive HYPE-PERP	+0.0095%	1h	94.174	−0.016%	$16.5M	$6.9M	10x	as long as short
Lighter HYPElong	+0.0096%	1h	94.189	long leg	$19.1M	$59.3M	20x
Lighter RH HYPE	+0.0096%	1h	94.191	+0.003%	$3.1M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.205	+0.017%	$64K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.210	+0.023%	$342K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.240	+0.055%	$30K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.204	+0.017%	$5.8M	$44.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.235	+0.049%	$10.2M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.146	−0.045%	$116.0M	$319.5M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.095	−0.099%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.182	−0.007%	$47.2M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.155	−0.036%	$228.0M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.159	−0.031%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.216	+0.029%	$7.9M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.203	+0.016%	$31.9M	$53.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.151	−0.040%	$7.6M	$45.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.196	+0.008%	$336K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.199	+0.011%	$681K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.247	+0.062%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.236	+0.050%	$486K	$2.5M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	94.216	+0.029%	$113K	$577K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.199	+0.011%	$76K	$166K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.200	+0.012%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.201	+0.013%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.160	−0.030%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.144	−0.048%	$18.7M	$42.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.238	+0.052%	$401K	$318K	20x	as long as short
Kalshi KXHYPEPERP	+0.0126%	8h	94.267	+0.083%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.210	+0.023%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0231%	4h	94.360	+0.182%	$1.5M	$7.7M	75x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	94.202	+0.014%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	94.259	+0.075%	$2.8M	$6.9M	20x	as long as short
BloFin HYPE-USDT	+0.0315%	4h	94.211	+0.024%	$17.0M	$12.4M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0165%	1h	94.233	+0.048%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0387%	1h	94.310	+0.129%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0575%	1h	94.297	+0.115%	$21.1M	$29.2M	50x	as long as short
Hyperliquid HYPE	+0.0589%	1h	94.255	+0.070%	$2.05B	$668.1M	10x	as long as short