HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1376%/8h= +150.7% APRnext payment +$1.72 per $10,000 · paid last 24h +0.229%

Price spread now: Lighter against Hibachi−0.063%7-day average +0.103% · you buy dearer than you sell

Net, funding: paid 7d − costs+$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$590.590% of the position

Long on Hibachi Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+1.648%+$165 on $10k

Price spread, last 4 days (all we have)−0.456%−$46 · spread now −0.063%, 7d avg +0.103%

Together, before fees+1.192%+ Points / potential airdropHibachi: Active · Lighter: Season 3 · farm board+$119 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.166% cheaper against Hibachi than usual: you would sell low and buy high (spread −0.063% now, against its 7-day average of +0.103%). If the spread goes back, that is −$17 on $10k: about 10 hours of funding at the current rate (+$41 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi HYPE/USDT-P	93.345	−0.1280	get 0.0160% / 1h	27m 31s	$197K	$227K	7x
Short	Lighter HYPE	93.287	0.0096	get 0.0012% / 1h	27m 31s	$16.2M	$61.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Hibachi. 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 HibachibpFee LighterbpOrdersPrice spread, now −0.063%Rate

Funding earned: $288.96
Price spread: −0.063% → +0.103%: −$16.57
Slippage, 4 orders: −$50.01
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: $213.37
Costs to cover: 0.590%
Break-even: 1.8 days

Slippage from Hibachi: live order book, 36 min ago; Lighter: live order book, 7 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 Hibachi live order book, 36 min ago	12.16 bp	33.4 bp −$33	53.7 bp −$537	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.23 bp	0.5 bp $0	2.8 bp −$28	11.0 bp −$1,098	43.1 bp −$21.6K

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-Plong	−0.1280%	1h	93.345	long leg	$197K	$227K	7x
Arcus HYPE-USD	−0.0899%	1h	93.150	−0.209%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0113%	1h	93.320	−0.027%	$699K	$996K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.305	−0.043%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.246	−0.106%	$85K	$344K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0047%	1h	93.402	+0.061%	$22K	$21K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0044%	4h	93.269	−0.082%	$153K	$652K	20x	as long as short
Phemex HYPEUSDT	−0.0044%	8h	93.291	−0.058%	$12.6M	$2.7M	50x	as long as short
Bullet HYPE-USD	−0.0019%	1h	93.217	−0.137%	$111K	$578K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.309	−0.038%	$128K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.273	−0.077%	$23K	$319K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.237	−0.116%	$61K	—	150x	as long as short
Aster HYPEUSDT	+0.0020%	4h	93.248	−0.104%	$8.8M	$35.5M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.609	+0.283%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0032%	4h	93.228	−0.126%	—	$53.0M	—	as long as short
Bybit HYPEUSDT	+0.0040%	8h	93.205	−0.150%	$320.5M	$276.9M	75x	as long as short
Gate HYPE_USDT	+0.0058%	4h	93.248	−0.104%	$44.6M	$55.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0075%	8h	93.233	−0.120%	$114.0M	$301.0M	50x	as long as short
Derive HYPE-PERP	+0.0083%	1h	93.258	−0.093%	$16.2M	$7.5M	10x	as long as short
Lighter HYPEshort	+0.0096%	1h	93.287	−0.063%	$16.2M	$61.9M	20x
Lighter RH HYPE	+0.0096%	1h	93.276	−0.074%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.244	−0.108%	$69K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.289	−0.060%	$339K	$162K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.260	−0.091%	$17K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.254	−0.097%	$5.8M	$43.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.312	−0.036%	$2.04B	$654.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.278	−0.072%	$10.0M	$14.7M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.227	−0.126%	$378.2M	$876.0M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.364	+0.020%	$203K	$10K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.239	−0.114%	$89.7M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.251	−0.101%	$45.9M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.246	−0.106%	$225.4M	$96.5M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.278	−0.072%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.546	+0.215%	$31.2M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.348	+0.003%	$7.5M	$45.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.581	+0.253%	$340K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.415	+0.075%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.305	−0.043%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.280	−0.070%	$471K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.261	−0.090%	$79K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.345	0.000%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.279	−0.071%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.232	−0.122%	$18.4M	$43.7M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.280	−0.070%	$397K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0111%	4h	93.350	+0.005%	$5.1M	$29.0M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.350	+0.005%	$4.8M	$5.5M	50x	as long as short
HTX HYPE-USDT	+0.0176%	4h	93.447	+0.109%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0258%	1h	93.231	−0.122%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0280%	8h	93.348	+0.003%	$1.9M	$5.0M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.328	−0.019%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.339	−0.007%	$16.9M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0468%	1h	93.379	+0.036%	$7.4M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.334	−0.012%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.280	−0.070%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.348	+0.003%	$20.7M	$29.7M	50x	as long as short