HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.035%

Price spread now: Hyperliquid against Lighter+0.047%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$130.126% of the position

Long on Lighter Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 7 days−0.067%−$7 · spread now +0.047%, 7d avg −0.015%

Together, before fees+0.015%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board+$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.062% dearer against Lighter than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter HYPE	93.008	0.0096	pay 0.0012% / 1h	52m 57s	$16.1M	$62.2M	20x
Short	Hyperliquid HYPE	93.052	0.0100	get 0.0013% / 1h	52m 57s	$2.03B	$664.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.047%Rate

Funding earned: $0.84
Price spread: +0.047% → −0.015%: $6.23
Slippage, 4 orders: −$3.6
Fee Lighter: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$5.53
Costs to cover: 0.126%
Break-even: 53.1 days

Slippage from Lighter: live order book, 6 min ago; Hyperliquid: live order book, 11 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, 6 min ago	0.43 bp	1.0 bp −$1	2.6 bp −$26	12.9 bp −$1,293	44.9 bp −$22.5K
Sell Hyperliquid live order book, 11 min ago	0.05 bp	4.8 bp −$5	6.2 bp −$62	doesn't fit	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-P	−0.0528%	1h	92.732	−0.297%	$193K	$228K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0264%	1h	92.854	−0.165%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.935	−0.078%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.919	−0.096%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0063%	4h	92.951	−0.061%	$158K	$658K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.935	−0.078%	$127K	$29K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	92.955	−0.057%	$1.8M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.006	−0.002%	$22K	$301K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.006	−0.002%	$62K	—	150x	as long as short
Gate HYPE_USDT	+0.0020%	4h	92.985	−0.025%	$44.6M	$53.6M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0026%	1h	92.888	−0.129%	$210K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0034%	8h	92.978	−0.032%	$12.6M	$2.7M	50x	as long as short
Bybit HYPEUSDT	+0.0037%	8h	92.980	−0.030%	$316.5M	$282.2M	75x	as long as short
01 Exchange HYPEUSD	+0.0056%	1h	93.014	+0.006%	$87K	$362K	20x	as long as short
Aster HYPEUSDT	+0.0079%	4h	92.999	−0.010%	$8.7M	$36.2M	300x	as long as short
Bullet HYPE-USD	+0.0080%	1h	92.962	−0.049%	$112K	$578K	20x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	92.806	−0.217%	$4.9M	$29.6M	30x	as long as short
Bitget HYPEUSDT	+0.0082%	4h	92.983	−0.027%	$225.2M	$98.9M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0091%	1h	92.800	−0.224%	$697K	$1.1M	10x	as long as short
Lighter HYPElong	+0.0096%	1h	93.008	long leg	$16.1M	$62.2M	20x
Lighter RH HYPE	+0.0096%	1h	93.018	+0.011%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.982	−0.028%	$70K	$1.1M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	92.956	−0.056%	$339K	$163K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0099%	8h	92.989	−0.020%	$114.1M	$304.7M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.960	−0.052%	$39K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.915	−0.101%	$7.5M	$45.8M	10x	as long as short
Hyperliquid HYPEshort	+0.0100%	1h	93.052	+0.047%	$2.03B	$664.0M	10x
Pacifica HYPE	+0.0100%	1h	92.959	−0.053%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.004	−0.004%	$374.1M	$903.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.942	−0.071%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.011	+0.003%	$88.1M	$79.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.000	−0.009%	$46.2M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.990	−0.019%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.015	+0.008%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.709	−0.322%	$28.4M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.766	−0.260%	$7.5M	$46.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.797	−0.227%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.833	−0.188%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.009	+0.001%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.009	+0.001%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.998	−0.011%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.972	−0.039%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.999	−0.010%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.006	−0.002%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.972	−0.039%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.002	−0.007%	$393K	$164K	20x	as long as short
HTX HYPE-USDT	+0.0108%	4h	93.100	+0.099%	$1.4M	$6.3M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.020	+0.013%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	93.085	+0.082%	$20.7M	$30.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.750	−0.277%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0264%	1h	92.974	−0.037%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.988	−0.022%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.994	−0.015%	$16.8M	$11.7M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0459%	1h	93.091	+0.089%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	93.028	+0.022%	$3.2M	$6.4M	20x	as long as short