HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h −0.001%

Price spread now: SoDEX against Lighter−0.045%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$160.158% of the position

Long on Lighter Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.330%−$33 · spread now −0.045%, 7d avg −0.041%

Together, before fees−0.333%+ Points / potential airdropLighter: Season 3 · farm board−$33 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter HYPE	93.251	0.0096	pay 0.0012% / 1h	26m 19s	$16.2M	$61.9M	20x
Short	SoDEX HYPE-USD	93.209	0.0100	get 0.0013% / 1h	26m 19s	$2.0M	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.045%Rate

Funding earned: $0.84
Price spread: −0.045% → −0.041%: −$0.39
Slippage, 4 orders: −$7.81
Fee Lighter: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$15.35
Costs to cover: 0.158%
Break-even: 135.0 days

Slippage from Lighter: live order book, 8 min ago; SoDEX: live order book, 3 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, 8 min ago	0.23 bp	1.2 bp −$1	2.6 bp −$26	11.7 bp −$1,172	38.2 bp −$19.1K
Sell SoDEX live order book, 3 min ago	0.05 bp	7.3 bp −$7	12.1 bp −$121	100.3 bp −$10.0K	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	−0.1224%	1h	93.247	−0.004%	$197K	$227K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.126	−0.134%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0110%	1h	93.180	−0.076%	$698K	$995K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.217	−0.037%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.240	−0.012%	$85K	$343K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0045%	4h	93.185	−0.071%	$153K	$652K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0044%	1h	93.383	+0.142%	$22K	$21K	10x	as long as short
Phemex HYPEUSDT	−0.0038%	8h	93.261	+0.011%	$12.6M	$2.7M	50x	as long as short
Bullet HYPE-USD	−0.0026%	1h	93.194	−0.061%	$111K	$578K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.234	−0.018%	$128K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.226	−0.027%	$23K	$319K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.220	−0.034%	$61K	—	150x	as long as short
Aster HYPEUSDT	+0.0020%	4h	93.245	−0.007%	$8.8M	$35.5M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.609	+0.384%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0032%	4h	93.216	−0.038%	—	$53.0M	—	as long as short
Bybit HYPEUSDT	+0.0042%	8h	93.210	−0.044%	$320.5M	$276.7M	75x	as long as short
Gate HYPE_USDT	+0.0060%	4h	93.206	−0.048%	$44.6M	$55.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0074%	8h	93.203	−0.052%	$113.9M	$300.7M	50x	as long as short
Derive HYPE-PERP	+0.0083%	1h	93.173	−0.084%	$16.2M	$7.5M	10x	as long as short
Lighter HYPElong	+0.0096%	1h	93.251	long leg	$16.2M	$61.9M	20x
Lighter RH HYPE	+0.0096%	1h	93.241	−0.011%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.248	−0.003%	$69K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.264	+0.014%	$339K	$162K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.260	+0.010%	$17K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.221	−0.033%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.300	+0.052%	$2.04B	$655.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.270	+0.020%	$10.0M	$14.7M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.218	−0.036%	$378.2M	$875.6M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.364	+0.121%	$203K	$10K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.207	−0.047%	$89.6M	$80.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.223	−0.030%	$45.8M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.209	−0.045%	$225.3M	$96.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.218	−0.035%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.546	+0.316%	$31.2M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.348	+0.104%	$7.5M	$45.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.581	+0.354%	$340K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.296	+0.048%	$666K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.291	+0.042%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.270	+0.020%	$471K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.188	−0.068%	$79K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.262	+0.012%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USDshort	+0.0100%	1h	93.209	−0.045%	$2.0M	$1.9M	10x
Extended HYPE-USD	+0.0104%	1h	93.182	−0.075%	$18.4M	$43.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.200	−0.055%	$396K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0111%	4h	93.350	+0.106%	$5.1M	$29.0M	30x	as long as short
HTX HYPE-USDT	+0.0174%	4h	93.442	+0.205%	$1.4M	$6.0M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.290	+0.042%	$4.8M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0258%	1h	93.207	−0.048%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0277%	8h	93.296	+0.048%	$1.9M	$5.0M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.234	−0.018%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.252	+0.001%	$16.9M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.338	+0.093%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.150	−0.108%	$30K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0565%	1h	93.307	+0.060%	$7.4M	$4.3M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0686%	1h	93.278	+0.029%	$20.7M	$29.7M	50x	as long as short