HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.028%

Price spread now: Lighter RH against dYdX−0.138%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$570.566% of the position

Long on dYdX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.081%+$8 on $10k

Price spread, last 4 days (all we have)+0.106%+$11 · spread now −0.138%, 7d avg +0.009%

Together, before fees+0.187%+ Points / potential airdropLighter RH: Points live · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter RH is 0.147% cheaper against dYdX than usual: you would sell low and buy high (spread −0.138% now, against its 7-day average of +0.009%). If the spread goes back, that is −$15 on $10k: about 5.1 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.081% in total) that is about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX HYPE-USD	94.298	0	get 0.0000% / 1h	12m 22s	$129K	$26K	5x
Short	Lighter RH HYPE	94.168	0.0096	get 0.0012% / 1h	12m 22s	$3.2M	$11.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against dYdX. 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 dYdXbpFee Lighter RHbpOrdersPrice spread, now −0.138%Rate

Funding earned: $20.16
Price spread: −0.138% → +0.009%: −$14.74
Slippage, 4 orders: −$46.61
Fee dYdX: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$51.19
Costs to cover: 0.566%
Break-even: 24.8 days

Slippage from dYdX: live order book, 32 min ago; Lighter RH: live order book, 1 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 dYdX live order book, 32 min ago	21.17 bp	26.2 bp −$26	28.3 bp −$283	94.6 bp −$9,460	267.6 bp −$133.8K
Sell Lighter RH live order book, 1 min ago	1.27 bp	1.8 bp −$2	3.4 bp −$34	28.0 bp −$2,801	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	−0.1128%	1h	94.158	−0.149%	$200K	$236K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0168%	1h	94.261	−0.039%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.151	−0.156%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0077%	1h	94.200	−0.104%	$709K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0063%	1h	94.292	−0.006%	$112K	$578K	20x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	94.305	+0.007%	$87K	$367K	20x	as long as short
Bluefin HYPE-PERP	−0.0029%	1h	94.281	−0.018%	$80K	$155K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0012%	4h	94.242	−0.059%	$146K	$686K	20x	as long as short
dYdX HYPE-USDlong	0.0000%	1h	94.298	long leg	$129K	$26K	5x
Bybit HYPEUSDT	0.0000%	8h	94.263	−0.037%	$317.2M	$289.1M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXHYPEPERP	0.0000%	8h	94.265	−0.035%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.254	−0.047%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.183	−0.122%	$84K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.307	+0.009%	$207K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0054%	4h	94.291	−0.008%	$227.3M	$99.3M	75x	as long as short
Phemex HYPEUSDT	+0.0061%	8h	94.230	−0.072%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0075%	8h	94.222	−0.081%	$337K	$156K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.218	−0.085%	$1.0M	$3.5M	10x	as long as short
edgeX HYPEUSDC	+0.0091%	4h	94.283	−0.016%	$5.0M	$30.7M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.198	−0.106%	$16.3M	$64.4M	20x	as long as short
Lighter RH HYPEshort	+0.0096%	1h	94.168	−0.138%	$3.2M	$11.1M	20x
Popdex HYPEUSDT	+0.0096%	1h	94.295	−0.003%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.270	−0.030%	$17K	$1.7M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.279	−0.020%	$116.5M	$319.6M	50x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.225	−0.077%	$7.5M	$50.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.394	+0.102%	$2.08B	$688.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.258	−0.043%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.239	−0.063%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.258	−0.042%	$377.0M	$931.3M	75x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.285	−0.014%	$49.3M	$56.9M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.293	−0.005%	$90.1M	$85.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.295	−0.003%	$47.0M	$18.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.280	−0.019%	—	$53.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.180	−0.125%	$7.2M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.209	−0.095%	$29.1M	$55.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.360	+0.065%	$7.6M	$47.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.320	+0.023%	$363K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.226	−0.076%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.332	+0.036%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.314	+0.017%	$495K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.297	−0.001%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.272	−0.028%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.437	+0.147%	$1.4M	$6.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.275	−0.024%	$218K	$15K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.243	−0.058%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.328	+0.031%	$399K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.230	−0.072%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.343	+0.048%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.550	+0.267%	$31K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0269%	1h	94.375	+0.082%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.254	−0.047%	$83K	$134K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.117	−0.192%	$16.9M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0412%	1h	94.335	+0.039%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.212	−0.092%	$3.1M	$6.4M	20x	as long as short