HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h +0.003%

Price spread now: Coinbase International against Lighter RH+0.047%7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$230.226% of the position

Long on Lighter RH Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.041%−$4 on $10k

Price spread, last 4 days (all we have)−0.113%−$11 · spread now +0.047%, 7d avg −0.037%

Together, before fees−0.153%+ Points / potential airdropLighter RH: Points live · farm board−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.084% dearer against Lighter RH than usual: you sell high and buy low (spread +0.047% now, against its 7-day average of −0.037%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH HYPE	94.136	0.0096	pay 0.0012% / 1h	35m 51s	$3.2M	$10.8M	20x
Short	Coinbase International HYPE-PERP-INTX	94.180	0.0064	get 0.0008% / 1h	35m 51s	$4.7M	$6.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.047%Rate

Funding earned: −$6.72
Price spread: +0.047% → −0.037%: $8.39
Slippage, 4 orders: −$12.61
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$20.94
Costs to cover: 0.226%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 3 min ago; Coinbase International: 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 RH live order book, 3 min ago	0.05 bp	2.7 bp −$3	3.5 bp −$35	23.9 bp −$2,390	doesn't fit
Sell Coinbase International live order book, 3 min ago	3.71 bp	9.3 bp −$9	13.3 bp −$133	32.1 bp −$3,211	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	−0.1592%	1h	94.119	−0.018%	$201K	$251K	7x	as long as short
Bluefin HYPE-PERP	−0.0389%	1h	94.150	+0.015%	$80K	$154K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0214%	1h	94.100	−0.038%	$710K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0205%	1h	94.170	+0.036%	$111K	$576K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0133%	1h	94.372	+0.251%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	94.137	+0.001%	$86K	$367K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.164	+0.030%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0054%	1h	94.092	−0.046%	$16.4M	$7.5M	10x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.098	−0.040%	$1.0M	$3.6M	10x	as long as short
Bybit HYPEUSDT	−0.0016%	8h	94.111	−0.027%	$316.4M	$289.6M	75x	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	−0.0016%	4h	94.127	−0.010%	—	$53.2M	—	as long as short
Orderly PERP_HYPE_USDC	−0.0002%	4h	94.159	+0.024%	$146K	$684K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.232	+0.102%	$129K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.221	+0.090%	$1.8M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.440	+0.323%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.183	+0.050%	$19K	$288K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.195	+0.062%	$122K	—	150x	as long as short
Lighter HYPE	+0.0016%	1h	94.129	−0.007%	$16.3M	$64.2M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0036%	1h	94.166	+0.032%	$494K	$2.8M	20x	as long as short
Bitget HYPEUSDT	+0.0038%	4h	94.124	−0.013%	$226.3M	$99.8M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0044%	8h	94.147	+0.012%	$336K	$156K	20x	as long as short
Phemex HYPEUSDT	+0.0052%	8h	94.162	+0.028%	$12.8M	$2.9M	50x	as long as short
Coinbase International HYPE-PERP-INTXshort	+0.0064%	1h	94.180	+0.047%	$4.7M	$6.2M	50x
OKX HYPE-USDT-SWAP	+0.0079%	8h	94.121	−0.016%	$117.4M	$324.1M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	94.322	+0.197%	$5.0M	$30.7M	30x	as long as short
SoDEX HYPE-USD	+0.0082%	1h	94.134	−0.002%	$2.0M	$1.9M	10x	as long as short
Lighter RH HYPElong	+0.0096%	1h	94.136	long leg	$3.2M	$10.8M	20x
Popdex HYPEUSDT	+0.0096%	1h	94.106	−0.032%	$81K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.120	−0.017%	$30K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.136	0.000%	$7.3M	$52.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.248	+0.119%	$2.07B	$688.3M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.132	−0.004%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.167	+0.033%	$10.1M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.138	+0.002%	$377.0M	$934.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.280	+0.153%	$218K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.114	−0.023%	$49.7M	$56.5M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.143	+0.007%	$89.4M	$83.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.139	+0.003%	$46.7M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.126	−0.011%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.087	−0.052%	$29.4M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.380	+0.259%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.340	+0.217%	$369K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.207	+0.075%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.214	+0.083%	—	$190K	5x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.232	+0.102%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.250	+0.121%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.096	−0.043%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.175	+0.041%	$398K	$159K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0021%	1h	94.212	+0.080%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0185%	1h	94.250	+0.121%	$7.4M	$4.3M	50x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.130	−0.006%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.200	+0.068%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.133	−0.003%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.130	−0.006%	$84K	$125K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.143	+0.007%	$17.0M	$12.3M	75x	as long as short