data as of
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Price arb /

HYPE

all HYPE markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$14
spread now−0.010%7d average−0.010%fees + slippage, in and out−$14spread needed0.137%
Long on HyperliquidShort on Lighter RH
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid HYPE94.1960.0100pay 0.0013% / 1h49m 21s$2.06B$516.8M10x
ShortLighter RH HYPE94.1870.0096get 0.0012% / 1h49m 21s$3.0M$10.6M20x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$0.96
Funding while held
−$0.12
Slippage, 4 orders
−$4.67
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Fee Lighter RH: 0 bp × 2 orders
$0
Net
−$14.74
Spread needed to break even
0.137%
Slippage from Hyperliquid: live order book, 6 min ago; Lighter RH: live order book, 6 min ago.

Cost of waiting

funding view
Funding /8h
−0.0004%
Per $10,000 a day
−$0.12
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hyperliquid live order book, 6 min ago0.11 bp4.6 bp −$54.9 bp −$49doesn't fitdoesn't fit
Sell Lighter RH live order book, 6 min ago0.05 bp4.4 bp −$46.9 bp −$6922.5 bp −$2,245doesn't fit

HYPE price on every exchange

against the cheapest. Click to use as the short leg.
ApeX Omni94.028cheapestedgeX94.058+0.032%Hotstuff94.066+0.040%Derive94.098+0.074%Katana Perps94.130+0.108%Arcus94.133+0.112%Variational Omni94.141+0.120%Ondo Perps94.150+0.130%Perpl94.152+0.132%Phoenix94.157+0.137%BloFin94.159+0.139%Hibachi94.160+0.141%Extended94.163+0.143%dYdX94.166+0.147%Vest94.169+0.150%Aevo94.171+0.152%Nado94.178+0.160%Paradex94.181+0.163%Pacifica94.184+0.166%Kalshi94.185+0.167%Bluefin94.185+0.167%GMX94.186+0.168%
Lighter RH94.187+0.169%
Bybit94.190+0.172%KuCoin94.194+0.177%
Hyperliquid94.196+0.179%
Polymarket Perps94.196+0.179%gTrade (Gains Network)94.197+0.180%Aster94.198+0.181%StandX94.199+0.182%Gate94.200+0.183%Backpack94.205+0.188%Popdex94.208+0.191%OKX94.210+0.194%Orderly94.211+0.195%Reya94.212+0.195%Lighter94.212+0.196%BingX94.215+0.199%SoDEX94.217+0.201%RISEx94.217+0.201%Bitget94.219+0.203%Phemex94.219+0.203%01 Exchange94.228+0.213%Coinbase International94.240+0.225%Binance94.241+0.226%Bullet94.243+0.229%MEXC94.249+0.235%Kraken Futures94.253+0.239%Deribit94.255+0.241%SunX94.270+0.257%HTX94.376+0.370%Aftermath Perps94.380+0.375%Injective94.560+0.566%Bulk94.884+0.911%

HYPE on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
ApeX Omni HYPEUSDT−0.178%−0.0099%1h$414K$931K50xas long as short
edgeX HYPEUSDC−0.146%+0.0036%4h$5.1M$24.7M30xas long as short
Hotstuff HYPE-PERP−0.138%−0.0080%1h$3K$30725xas long as short
Derive HYPE-PERP−0.104%+0.0076%1h$16.8M$6.9M10xas long as short
Katana Perps HYPE-USD−0.070%+0.0099%8h$16K$1.5M10xas long as short
Arcus HYPE-USD−0.067%−0.0018%1h$1.2M$4.2M10xas long as short
Variational Omni HYPE−0.058%+0.0100%8h$29.8M$48.8M—as long as short
Ondo Perps HYPE-USD.P−0.049%+0.0100%1h$707K$893K10xas long as short
Perpl HYPE−0.047%0.0000%43m$31K$333K10xas long as short
Phoenix HYPE−0.041%+0.0152%1h$296K$1.0M10xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
BloFin HYPE-USDT−0.039%+0.0070%4h$18.0M$11.5M75xas long as short
Hibachi HYPE/USDT-P−0.038%−0.0160%1h$201K$174K7xas long as short
Extended HYPE-USD−0.035%+0.0104%1h$18.5M$36.0M50xas long as short
dYdX HYPE-USD−0.032%0.0000%1h$128K$23K5xas long as short
Vest HYPE-PERP−0.029%+0.0070%1h—$407K5xas long as short
Aevo HYPE-PERP−0.027%+0.0088%1h$401K$343K20xas long as short
Nado HYPE-PERP−0.019%+0.0100%1h$5.5M$41.7M10xas long as short
Paradex HYPE-USD-PERP−0.015%+0.0092%8h$337K$287K20xas long as short
Pacifica HYPE−0.013%+0.0100%1h$11.4M$11.8M20xas long as short
Kalshi KXHYPEPERP−0.012%0.0000%8h$1.6M$3.8M2.3xas long as short
Bluefin HYPE-PERP−0.012%+0.0100%1h$69K$196K20xas long as short
GMX HYPE/USD [WBTC.b-USDC]−0.010%L +0.0346% / S −0.0159%1h$1.5M—100xas long as short
Lighter RH HYPEshort−0.010%+0.0096%1h$3.0M$10.6M20x
Bybit HYPEUSDT−0.006%+0.0043%8h$326.9M$268.7M75xas long as short
KuCoin HYPEUSDTM−0.002%+0.0040%4h$44.8M$19.3M75xas long as short
Hyperliquid HYPElong0.000%+0.0100%1h$2.06B$516.8M10x
Polymarket Perps HYPE-USD0.000%+0.0100%1h$482K$2.3M20xas long as short
gTrade (Gains Network) HYPE/USD+0.001%L +0.0002% / S −0.0001%1h$33K—150xas long as short
Aster HYPEUSDT+0.002%−0.0067%4h$8.5M$31.6M300xas long as short
StandX HYPE-USD+0.003%+0.0100%1h$720K$2.1M20xas long as short
Gate HYPE_USDT+0.004%−0.0068%4h$44.7M$53.4M75xas long as short
Backpack HYPE_USDC_PERP+0.010%+0.0100%1h$8.1M$8.4M20xas long as short
Popdex HYPEUSDT+0.013%+0.0096%1h$77K$1.0M50xas long as short
OKX HYPE-USDT-SWAP+0.015%−0.0109%8h$119.9M$286.7M50xas long as short
Orderly PERP_HYPE_USDC+0.016%−0.0324%4h$167K$466K20xas long as short
Reya HYPERUSDPERP+0.016%+0.0213%1h$74K$228K15xas long as short
Lighter HYPE+0.017%+0.0096%1h$18.7M$49.9M20xas long as short
BingX HYPE-USDT+0.020%−0.0116%4h—$47.5M—as long as short
SoDEX HYPE-USD+0.022%+0.0100%1h$2.0M$1.9M10xas long as short
RISEx HYPE/USDC+0.022%+0.0120%1h$2.5M$7.1M20xas long as short
Bitget HYPEUSDT+0.024%+0.0100%4h$232.4M$88.3M75xas long as short
Phemex HYPEUSDT+0.024%−0.0007%8h$12.8M$2.2M50xas long as short
01 Exchange HYPEUSD+0.034%+0.0080%1h$82K$283K20xas long as short
Coinbase International HYPE-PERP-INTX+0.047%+0.0032%1h$5.0M$5.2M50xas long as short
Binance HYPEUSDT+0.048%+0.0019%4h$398.7M$744.1M75xas long as short
Bullet HYPE-USD+0.050%+0.0100%1h$112K$579K20xas long as short
MEXC HYPE_USDT+0.056%+0.0018%4h$91.6M$79.2M100xas long as short
Kraken Futures PF_HYPEUSD+0.060%−0.0293%1h$16.6M$19.2M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.063%+0.0206%1h$7.3M$3.9M50xas long as short
SunX HYPE-USDT+0.079%+0.0100%4h$28K$1.4M20xas long as short
HTX HYPE-USDT+0.191%+0.0141%4h$1.5M$6.3M75xas long as short
Aftermath Perps HYPEUSD+0.196%−0.0016%1h$22K$34K10xas long as short
Injective HYPE/USDC PERP+0.386%+0.0375%1h$24K$259K12xas long as short
Bulk HYPE-USD+0.731%+0.0100%1h$215K$10K10xas long as short