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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.017%
Price spread now: Lighter against Nado+0.097%7-day average +0.021% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$3as in the Price arb table
costs, in and out, $10k−$100.103% of the position
Long on NadoShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.020%+$2 on $10k
Price spread, last 7 days−0.088%−$9 · spread now +0.097%, 7d avg +0.021%
Together, before fees−0.068%+ Points / potential airdropNado: Active · Lighter: Season 3 · farm board−$7 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: Lighter is 0.076% dearer against Nado than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.021%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongNado HYPE-PERP93.8900.0100pay 0.0012% / 1h50m 48s$6.6M$44.9M10x
ShortLighter HYPE93.9820.0096get 0.0012% / 1h50m 48s$18.9M$58.2M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter against Nado. 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

Funding earned
−$0.84
Price spread: +0.097% → +0.021%
$7.59
Slippage, 4 orders
−$3.27
Fee Nado: 3.5 bp × 2 orders
−$7
Fee Lighter: 0 bp × 2 orders
$0
Net
−$3.52
Costs to cover
0.103%
Break-even
never at this rate
Slippage from Nado: live order book, 3 min ago; Lighter: live order book, 8 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Nado live order book, 3 min ago0.05 bp3.8 bp −$47.7 bp −$77doesn't fitdoesn't fit
Sell Lighter live order book, 8 min ago0.54 bp1.0 bp −$13.2 bp −$3211.8 bp −$1,17943.9 bp −$21.9K

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1384%1h93.992+0.108%$199K$228K7xas long as short
Arcus HYPE-USD−0.0625%1h93.793−0.104%$1.2M$3.8M10xas long as short
Aftermath Perps HYPEUSD−0.0301%1h93.952+0.066%$22K$22K10xas long as short
Ondo Perps HYPE-USD.P−0.0170%1h93.850−0.043%$705K$928K10xas long as short
Gate HYPE_USDT−0.0142%4h93.892+0.002%$44.4M$59.1M75xas long as short
dYdX HYPE-USD−0.0115%1h93.917+0.028%$128K$29K5xas long as short
Bullet HYPE-USD−0.0114%1h93.931+0.043%$113K$580K20xas long as short
01 Exchange HYPEUSD−0.0104%1h93.892+0.002%$85K$365K20xas long as short
Phemex HYPEUSDT−0.0098%8h93.888−0.003%$12.8M$2.6M50xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.950+0.063%$3K$33125xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit HYPEUSDT−0.0060%8h93.890−0.001%$322.9M$283.4M75xas long as short
Orderly PERP_HYPE_USDC−0.0010%4h93.920+0.031%$169K$594K20xas long as short
Derive HYPE-PERP0.0000%1h93.867−0.025%$16.4M$7.2M10xas long as short
Perpl HYPE0.0000%43m93.937+0.050%$23K$329K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.962+0.076%$27K—150xas long as short
Aster HYPEUSDT+0.0019%4h93.916+0.027%$8.9M$36.1M300xas long as short
Phoenix HYPE+0.0034%1h93.829−0.066%$218K$1.2M10xas long as short
edgeX HYPEUSDC+0.0042%4h93.948+0.061%$5.1M$29.8M30xas long as short
MEXC HYPE_USDT+0.0044%4h93.898+0.008%$88.1M$81.9M100xas long as short
Binance HYPEUSDT+0.0045%4h93.897+0.007%$383.4M$896.7M75xas long as short
Popdex HYPEUSDT+0.0064%1h93.873−0.019%$60K$1.2M50xas long as short
OKX HYPE-USDT-SWAP+0.0082%8h93.891+0.001%$115.9M$321.1M50xas long as short
Aevo HYPE-PERP+0.0088%1h93.874−0.018%$399K$191K20xas long as short
Lighter HYPEshort+0.0096%1h93.982+0.097%$18.9M$58.2M20x
Lighter RH HYPE+0.0096%1h93.914+0.025%$3.0M$12.0M20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.944+0.057%$341K$171K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.880−0.011%$39K$1.6M10xas long as short
Nado HYPE-PERPlong+0.0100%1h93.890long leg$6.6M$44.9M10x
Hyperliquid HYPE+0.0100%1h93.996+0.112%$2.05B$675.5M10xas long as short
Pacifica HYPE+0.0100%1h93.921+0.032%$10.1M$14.6M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.945+0.058%$46.5M$18.4M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.894+0.004%$227.7M$101.9M75xas long as short
BingX HYPE-USDT+0.0100%4h93.889−0.002%—$54.0M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.916+0.027%$7.7M$10.5M20xas long as short
Variational Omni HYPE+0.0100%8h93.8900.000%$31.3M$54.1M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.981+0.096%$7.6M$45.4M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h94.029+0.148%$340K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h94.057+0.177%$680K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.943+0.056%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.936+0.048%$480K$2.6M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.920+0.031%$76K$171K20xas long as short
SunX HYPE-USDT+0.0100%4h93.995+0.111%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.917+0.028%$2.0M$2.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.944+0.057%$205K$6K10xas long as short
Extended HYPE-USD+0.0104%1h93.878−0.014%$18.4M$42.5M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0144%1h93.990+0.106%$4.9M$5.5M50xas long as short
Kalshi KXHYPEPERP+0.0169%8h93.984+0.100%$1.9M$5.1M2.3xas long as short
BloFin HYPE-USDT+0.0179%4h93.916+0.027%$17.0M$12.3M75xas long as short
Injective HYPE/USDC PERP+0.0205%1h93.810−0.086%$31K$338K12xas long as short
RISEx HYPE/USDC+0.0222%1h93.921+0.033%$2.8M$6.8M20xas long as short
Reya HYPERUSDPERP+0.0250%1h93.909+0.020%$79K$146K15xas long as short
HTX HYPE-USDT+0.0309%4h94.088+0.210%$1.5M$7.4M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0338% / S −0.0157%1h93.964+0.078%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0367%1h94.019+0.137%$7.5M$4.7M50xas long as short
Kraken Futures PF_HYPEUSD+0.0672%1h94.006+0.123%$21.0M$29.7M50xas long as short