HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0153%/8h= −16.8% APRnext payment −$0.19 per $10,000 · paid last 24h −0.013%

Price spread now: Bullet against Lighter RH−0.026%7-day average +0.004% · 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−$21as in the Price arb table

costs, in and out, $10k−$180.180% of the position

Long on Lighter RH Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.014%−$1 on $10k

Price spread, last 4 days (all we have)+0.226%+$23 · spread now −0.026%, 7d avg +0.004%

Together, before fees+0.212%+ Points / potential airdropLighter RH: Points live · farm board+$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bullet is 0.031% cheaper against Lighter RH than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH HYPE	94.375	0.0096	pay 0.0012% / 1h	18m 29s	$3.2M	$11.1M	20x
Short	Bullet HYPE-USD	94.350	−0.0057	pay 0.0007% / 1h	18m 29s	$112K	$579K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Lighter RH. 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 Lighter RHbpFee BulletbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$32.13
Price spread: −0.026% → +0.004%: −$3.05
Slippage, 4 orders: −$9.99
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$53.18
Costs to cover: 0.180%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 5 min ago; Bullet: live order book, 26 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 RH live order book, 5 min ago	0.37 bp	3.0 bp −$3	3.9 bp −$39	22.6 bp −$2,260	doesn't fit
Sell Bullet live order book, 26 min ago	0.43 bp	8.3 bp −$8	13.3 bp −$133	doesn't fit	doesn't fit

HYPE on 54 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	−0.1080%	1h	94.200	−0.185%	$200K	$237K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0185%	1h	94.177	−0.210%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.361	−0.015%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0058%	1h	94.310	−0.069%	$709K	$1.2M	10x	as long as short
Bullet HYPE-USDshort	−0.0057%	1h	94.350	−0.026%	$112K	$579K	20x
01 Exchange HYPEUSD	−0.0032%	1h	94.413	+0.040%	$86K	$366K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0013%	4h	94.345	−0.032%	$146K	$685K	20x	as long as short
Bluefin HYPE-PERP	−0.0004%	1h	94.282	−0.099%	$80K	$155K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.292	−0.088%	$129K	$26K	5x	as long as short
Bybit HYPEUSDT	0.0000%	8h	94.340	−0.037%	$317.6M	$289.2M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	94.364	−0.012%	$19K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.290	−0.090%	$84K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.378	+0.003%	$207K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0054%	4h	94.357	−0.019%	$227.4M	$99.3M	75x	as long as short
Phemex HYPEUSDT	+0.0058%	8h	94.228	−0.156%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0079%	8h	94.398	+0.024%	$337K	$157K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.338	−0.039%	$1.0M	$3.8M	10x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	94.344	−0.033%	$5.0M	$30.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.362	−0.014%	$16.3M	$64.4M	20x	as long as short
Lighter RH HYPElong	+0.0096%	1h	94.375	long leg	$3.2M	$11.1M	20x
Popdex HYPEUSDT	+0.0096%	1h	94.369	−0.006%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.400	+0.026%	$17K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.326	−0.051%	$7.6M	$50.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.460	+0.090%	$2.08B	$687.1M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.372	−0.003%	$8.9M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.393	+0.019%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.373	−0.002%	$377.6M	$932.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.359	−0.017%	$116.4M	$317.1M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.352	−0.024%	$49.0M	$56.5M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.365	−0.011%	$89.9M	$85.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.368	−0.007%	$46.9M	$18.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.356	−0.020%	—	$53.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.308	−0.071%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.229	−0.155%	$29.0M	$56.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.424	+0.052%	$7.6M	$48.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.205	−0.180%	$362K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.276	−0.105%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.415	+0.043%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.386	+0.012%	$498K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.311	−0.068%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.291	−0.089%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.409	+0.036%	$1.4M	$6.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.275	−0.106%	$218K	$15K	10x	as long as short
Kalshi KXHYPEPERP	+0.0101%	8h	94.333	−0.045%	$1.8M	$5.6M	2.3x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.332	−0.045%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.306	−0.073%	$399K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.330	−0.048%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.326	−0.051%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.610	+0.249%	$31K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0227%	1h	94.370	−0.005%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.347	−0.030%	$78K	$129K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.278	−0.103%	$16.9M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0412%	1h	94.354	−0.022%	$20.2M	$30.4M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.406	+0.033%	$3.2M	$6.4M	20x	as long as short