HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.1072%/8h= +117.4% APRnext payment +$1.34 per $10,000 · paid last 24h +0.281%

Price spread now: Lighter RH against Hibachi+0.122%7-day average +0.079% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$620.622% of the position

Long on Hibachi Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+1.683%+$168 on $10k

Price spread, last 4 days (all we have)−0.662%−$66 · spread now +0.122%, 7d avg +0.079%

Together, before fees+1.022%+ Points / potential airdropHibachi: Active · Lighter RH: Points live · farm board+$102 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$32 a day on $10k at the current rate, and Lighter RH is 0.043% dearer against Hibachi than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.079%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi HYPE/USDT-P	94.507	−0.0976	get 0.0122% / 1h	36m 53s	$207K	$268K	7x
Short	Lighter RH HYPE	94.623	0.0096	get 0.0012% / 1h	36m 53s	$3.2M	$10.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.122%Rate

Funding earned: $225.12
Price spread: +0.122% → +0.079%: $4.28
Slippage, 4 orders: −$53.21
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $167.2
Costs to cover: 0.622%
Break-even: 1.8 days

Slippage from Hibachi: live order book, 62 min ago; Lighter RH: live order book, 2 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, 62 min ago	17.49 bp	34.1 bp −$34	54.2 bp −$542	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	1.27 bp	1.5 bp −$2	2.9 bp −$29	26.5 bp −$2,651	doesn't fit

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	−0.0976%	1h	94.507	long leg	$207K	$268K	7x
Bluefin HYPE-PERP	−0.0615%	1h	94.589	+0.086%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0314%	1h	94.681	+0.183%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0200%	1h	94.618	+0.117%	$112K	$578K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0139%	1h	94.530	+0.024%	$704K	$1.3M	10x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.591	+0.088%	$1.0M	$3.5M	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.633	+0.133%	$90K	$367K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.588	+0.085%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0066%	4h	94.618	+0.117%	$51.5M	$54.9M	75x	as long as short
Phemex HYPEUSDT	−0.0060%	8h	94.610	+0.109%	$12.9M	$2.9M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.607	+0.105%	$19.0M	$35.3M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	94.596	+0.094%	$147K	$682K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.566	+0.062%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.679	+0.182%	$1.8M	$5.6M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.603	+0.101%	$19K	$286K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.630	+0.130%	$95K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.747	+0.253%	$210K	$1.2M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.600	+0.098%	$4.7M	$6.4M	50x	as long as short
Bybit HYPEUSDT	+0.0020%	8h	94.614	+0.113%	$318.3M	$296.5M	75x	as long as short
Bitget HYPEUSDT	+0.0024%	4h	94.658	+0.159%	$227.4M	$99.7M	75x	as long as short
Derive HYPE-PERP	+0.0045%	1h	94.575	+0.071%	$16.3M	$7.5M	10x	as long as short
Vest HYPE-PERP	+0.0048%	1h	94.672	+0.174%	—	$190K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0051%	8h	94.646	+0.146%	$338K	$154K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0053%	8h	94.597	+0.095%	$118.1M	$329.7M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0056%	1h	94.699	+0.203%	$7.5M	$4.4M	50x	as long as short
SoDEX HYPE-USD	+0.0092%	1h	94.631	+0.131%	$2.1M	$2.0M	10x	as long as short
edgeX HYPEUSDC	+0.0096%	4h	94.547	+0.042%	$5.0M	$30.8M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.619	+0.118%	$16.2M	$62.6M	20x	as long as short
Lighter RH HYPEshort	+0.0096%	1h	94.623	+0.122%	$3.2M	$10.3M	20x
Popdex HYPEUSDT	+0.0096%	1h	94.610	+0.109%	$148K	$1.3M	50x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.606	+0.104%	$7.6M	$10.7M	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.590	+0.087%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.614	+0.113%	$7.3M	$52.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.733	+0.239%	$2.08B	$685.7M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.621	+0.120%	$9.7M	$37.6M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.632	+0.132%	$10.2M	$14.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.648	+0.149%	$381.1M	$939.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.564	+0.060%	$220K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.659	+0.160%	$93.9M	$85.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.632	+0.132%	$47.2M	$19.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.632	+0.132%	—	$53.5M	—	as long as short
Variational Omni HYPE	+0.0100%	8h	94.549	+0.044%	$30.0M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.563	+0.059%	$7.6M	$44.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.555	+0.050%	$345K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.556	+0.051%	$694K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.689	+0.192%	$499K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.675	+0.177%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.750	+0.257%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.629	+0.129%	$18.4M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.610	+0.109%	$400K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.633	+0.133%	$3.1M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.170	+0.701%	$31K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	94.595	+0.092%	$85K	$118K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	94.658	+0.160%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.614	+0.113%	$17.3M	$12.6M	75x	as long as short