Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.055%
Price spread now: Lighter against Hyperliquid+0.010%7-day average −0.064% · you sell dearer than you buy
Net, funding: paid 7d − costs−$98as in the Funding arb table
Net, price: spread back to 7d avg − costs−$76as in the Price arb table
costs, in and out, $10k−$830.831% of the position
Funding, last 7 days−0.148%−$15 on $10k
+Price spread, last 4 days (all we have)−0.056%−$6 · spread now +0.010%, 7d avg −0.064%
=Together, before fees−0.203%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board−$20 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 0.074% dearer against Hyperliquid than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.064%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid SPX | 0.5072 | 0.0100 | pay 0.0013% / 1h | 50m 14s | $9.8M | $7.6M | 5x |
| Short | Lighter SPX | 0.5072 | 0.0096 | get 0.0012% / 1h | 50m 14s | $117K | $318K | 5x |
Hyperliquid SPX
Lighter SPXFunding 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: +0.010% → −0.064%
- $7.36
- Slippage, 4 orders
- −$74.05
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$76.53
- Costs to cover
- 0.831%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 2 min ago; Lighter: live order book, 19 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, 2 min ago | 2.18 bp | 15.7 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 19 min ago | 25.58 bp | 25.6 bp −$26 | 80.0 bp −$800 | doesn't fit | doesn't fit |
SPX on 19 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SPXUSD | −0.1174% | 1h | 0.5078 | +0.117% | $241K | $560K | 20x | as long as short |
| Injective SPX/USDC PERP | +0.0033% | 1h | 0.4979 | −1.826% | $9 | $4K | 5.5x | as long as short |
| Variational Omni SPX | +0.0050% | 4h | 0.5050 | −0.428% | $848K | $1.3M | — | as long as short |
| Lighter SPXshort | +0.0096% | 1h | 0.5072 | +0.010% | $117K | $318K | 5x | |
| Hyperliquid SPXlong | +0.0100% | 1h | 0.5072 | long leg | $9.8M | $7.6M | 5x | |
| Aster SPXUSDT | +0.0100% | 4h | 0.5057 | −0.279% | $128K | $108K | 10x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5070 | −0.032% | $4.9M | $20.9M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5065 | −0.130% | $11.6M | $16.0M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5071 | −0.012% | $970K | $2.8M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5069 | −0.051% | $1.0M | $496K | 50x | as long as short |
Kraken Futures PF_SPXUSD
Injective SPX/USDC PERP
Variational Omni SPX
Aster SPXUSDT
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPX_USDT | +0.0100% | 4h | 0.5073 | +0.028% | $11.3M | $4.7M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5070 | −0.032% | $3.8M | $5.3M | 50x | as long as short |
| Bitget SPXUSDT | +0.0100% | 4h | 0.5070 | −0.032% | $2.6M | $1.4M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5068 | −0.071% | — | $6.9M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5046 | −0.505% | $45K | $246K | 25x | as long as short |
| Orderly PERP_SPX_USDC | +0.0100% | 4h | 0.5077 | +0.106% | $20K | $711 | 10x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5063 | −0.170% | $8K | $1.7M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5071 | −0.021% | $34K | $228K | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5037 | −0.682% | $243K | $987K | 75x | as long as short |
MEXC SPX_USDT
KuCoin SPXUSDTM
Bitget SPXUSDT
BingX SPX-USDT
ApeX Omni SPXUSDT
Orderly PERP_SPX_USDC
SunX SPX-USDT
Extended SPX-USD
BloFin SPX-USDT