HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0039%/8h= −4.3% APRnext payment −$0.05 per $10,000 · paid last 24h −0.035%

Price spread now: Ondo Perps against Lighter−0.065%7-day average −0.022% · you buy dearer than you sell

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

Long on Lighter Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.122%−$12 on $10k

Price spread, last 7 days+0.022%+$2 · spread now −0.065%, 7d avg −0.022%

Together, before fees−0.100%+ Points / potential airdropLighter: Season 3 · Ondo Perps: Active · farm board−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Ondo Perps is 0.043% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.022%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter HYPE	94.191	0.0096	pay 0.0012% / 1h	1m 28s	$16.4M	$63.8M	20x
Short	Ondo Perps HYPE-USD.P	94.130	0.0057	get 0.0007% / 1h	1m 28s	$709K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.065%Rate

Funding earned: −$8.23
Price spread: −0.065% → −0.022%: −$4.28
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$17.51
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 8 min ago; Ondo Perps: 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, 8 min ago	0.72 bp	0.7 bp −$1	2.1 bp −$21	12.6 bp −$1,255	43.7 bp −$21.9K
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	−0.1280%	1h	94.260	+0.074%	$202K	$241K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0287%	1h	94.275	+0.090%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.328	+0.146%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0016%	4h	94.043	−0.157%	$150K	$681K	20x	as long as short
Bullet HYPE-USD	−0.0003%	1h	94.076	−0.122%	$112K	$580K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.272	+0.086%	$129K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	94.185	−0.006%	$86K	$372K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.210	+0.020%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	94.098	−0.099%	$63K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	94.153	−0.040%	$1.0M	$4.0M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	+0.0014%	4h	94.081	−0.117%	—	$53.7M	—	as long as short
Bybit HYPEUSDT	+0.0019%	8h	94.058	−0.141%	$317.7M	$287.2M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	94.438	+0.262%	$211K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0038%	4h	94.073	−0.125%	$226.9M	$99.4M	75x	as long as short
Phemex HYPEUSDT	+0.0038%	8h	94.206	+0.016%	$12.8M	$2.8M	50x	as long as short
Ondo Perps HYPE-USD.Pshort	+0.0057%	1h	94.130	−0.065%	$709K	$1.2M	10x
Paradex HYPE-USD-PERP	+0.0094%	8h	94.211	+0.021%	$342K	$158K	20x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	94.230	+0.041%	$5.0M	$30.5M	30x	as long as short
Lighter HYPElong	+0.0096%	1h	94.191	long leg	$16.4M	$63.8M	20x
Lighter RH HYPE	+0.0096%	1h	94.203	+0.013%	$3.2M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.169	−0.023%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.180	−0.012%	$22K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.074	−0.124%	$6.2M	$49.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.198	+0.008%	$2.06B	$680.1M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.111	−0.085%	$8.9M	$37.0M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.215	+0.026%	$10.2M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.094	−0.103%	$378.2M	$926.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.088	−0.109%	$116.3M	$317.4M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.213	+0.024%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.077	−0.121%	$48.2M	$55.9M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.100	−0.097%	$90.8M	$82.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.103	−0.093%	$46.5M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.247	+0.060%	$7.2M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.388	+0.210%	$28.9M	$56.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.307	+0.123%	$7.7M	$48.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.313	+0.130%	$344K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.247	+0.060%	$674K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.238	+0.050%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.145	−0.049%	$478K	$2.8M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.046	−0.154%	$80K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	94.065	−0.134%	$16.4M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.302	+0.118%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.206	+0.016%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.416	+0.239%	$1.4M	$6.6M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.134	−0.061%	$18.3M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.067	−0.132%	$398K	$159K	20x	as long as short
Kalshi KXHYPEPERP	+0.0119%	8h	94.327	+0.144%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	94.610	+0.445%	$31K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.230	+0.042%	$4.7M	$6.1M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0270%	1h	94.291	+0.106%	$7.5M	$4.1M	50x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	94.075	−0.123%	$77K	$130K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	94.099	−0.098%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0338%	1h	94.299	+0.115%	$21.0M	$29.6M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.285	+0.100%	$16.8M	$12.3M	75x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	94.217	+0.028%	$3.2M	$6.3M	20x	as long as short