Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.001%
Price spread now: Lighter against Hyperliquid−0.046%7-day average +0.047% · you buy dearer than you sell
Net, funding: paid 7d − costs−$70as in the Funding arb table
Net, price: spread back to 7d avg − costs−$79as in the Price arb table
costs, in and out, $10k−$690.694% of the position
Funding, last 7 days−0.008%−$1 on $10k
+Price spread, last 4 days (all we have)+0.038%+$4 · spread now −0.046%, 7d avg +0.047%
=Together, before fees+0.030%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board+$3 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 0.093% cheaper against Hyperliquid than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.047%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid PYTH | 0.06458 | 0.0100 | pay 0.0013% / 1h | 59m 44s | $2.3M | $1.8M | 5x |
| Short | Lighter PYTH | 0.06455 | 0.0096 | get 0.0012% / 1h | 59m 44s | $193K | $207K | 5x |
Hyperliquid PYTH
Lighter PYTHFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
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: −0.046% → +0.047%
- −$9.33
- Slippage, 4 orders
- −$60.39
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$79.56
- Costs to cover
- 0.694%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 1 min ago; Lighter: live order book, 40 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 Hyperliquid live order book, 1 min ago | 1.93 bp | 28.3 bp −$28 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 40 min ago | 3.96 bp | 9.4 bp −$9 | 66.3 bp −$663 | doesn't fit | doesn't fit |
PYTH on 23 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 | |
|---|---|---|---|---|---|---|---|---|
| Gate PYTH_USDT | −0.0078% | 4h | 0.06442 | −0.248% | $1.1M | $516K | 75x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | −0.0060% | 1h | 0.06459 | +0.015% | $10K | $10K | 10x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06456 | −0.035% | $192K | $19 | 5x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −3.066% | $553 | $220K | 5.5x | as long as short |
| MEXC PYTH_USDT | +0.0062% | 4h | 0.06442 | −0.248% | $10.5M | $2.7M | 125x | as long as short |
| Binance PYTHUSDT | +0.0063% | 4h | 0.06443 | −0.232% | $9.2M | $18.3M | 75x | as long as short |
| Aster PYTHUSDT | +0.0077% | 4h | 0.06456 | −0.031% | $20K | $45K | 10x | as long as short |
| BloFin PYTH-USDT | +0.0090% | 4h | 0.06456 | −0.031% | $433K | $81K | 75x | as long as short |
| Lighter PYTHshort | +0.0096% | 1h | 0.06455 | −0.046% | $193K | $207K | 5x | |
| Aevo PYTH-PERP | +0.0096% | 1h | 0.06455 | −0.046% | $23K | — | 3x | as long as short |
Gate PYTH_USDT
Deribit PYTH_USDC-PERPETUAL
dYdX PYTH-USD
Injective PYTH/USDC PERP
MEXC PYTH_USDT
Binance PYTHUSDT
Aster PYTHUSDT
BloFin PYTH-USDT
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06440 | −0.276% | $3K | — | 10x | as long as short |
| Hyperliquid PYTHlong | +0.0100% | 1h | 0.06458 | long leg | $2.3M | $1.8M | 5x | |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06445 | −0.201% | $7.6M | $4.8M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06444 | −0.217% | $2.1M | $3.5M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06447 | −0.170% | $1.5M | $351K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06445 | −0.201% | $2.7M | $2.2M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06445 | −0.201% | — | $2.7M | — | as long as short |
| Backpack PYTH_USDC_PERP | +0.0100% | 1h | 0.06455 | −0.050% | $37K | $60K | 10x | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06456 | −0.033% | $39K | $25K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06450 | −0.122% | $2K | $2K | 10x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0104% | 1h | 0.06493 | +0.542% | $40K | $19K | 25x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06448 | −0.156% | — | — | 20x | as long as short |
| Kraken Futures PF_PYTHUSD | +0.0406% | 1h | 0.06456 | −0.026% | $397K | $295K | 25x | as long as short |
Paradex PYTH-USD-PERP
Bybit PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Backpack PYTH_USDC_PERP
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Coinbase International PYTH-PERP-INTX
Reya PYTHRUSDPERP
Kraken Futures PF_PYTHUSD