HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0026%/8h= −2.8% APRnext payment −$0.03 per $10,000 · paid last 24h −0.065%

Price spread now: Lighter against Injective+0.074%96s7-day average −0.116% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−2.204%−$220 on $10k

Price spread, last 4 days (all we have)+0.107%+$11 · spread now +0.074%, 7d avg −0.116%

Together, before fees−2.097%+ Points / potential airdropLighter: Season 3 · farm board−$210 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.191% dearer against Injective than usual: you sell high and buy low (spread +0.074% now, against its 7-day average of −0.116%): +$19 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 24 days. At the pace of the last 7 days (−2.204% in total) that is about 15 hours. The two prices were read 96 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective HYPE/USDC PERP	93.130	0.0122	pay 0.0015% / 1h	31m 33s	$30K	$339K	12x
Short	Lighter HYPE	93.199	0.0096	get 0.0012% / 1h	31m 33s	$16.1M	$63.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Injective. 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 InjectivebpFee LighterbpOrdersPrice spread, now +0.074%Rate

Funding earned: −$5.45
Price spread: +0.074% → −0.116%: $19.06
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Lighter: 0 bp × 2 orders: $0
Net: $13.59
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Injective: live order book, 18 min ago; Lighter: live order book, 7 min ago. Net counts fees only.

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 Injective live order book, 18 min ago	15.47 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.40 bp	0.6 bp −$1	1.7 bp −$17	11.7 bp −$1,175	45.6 bp −$22.8K

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-P	−0.1568%	1h	93.135	+0.005%	$196K	$234K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0359%	1h	93.307	+0.190%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.195	+0.070%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0059%	1h	93.219	+0.095%	$111K	$578K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0023%	4h	93.213	+0.089%	$146K	$662K	20x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	93.225	+0.102%	$87K	$366K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.219	+0.096%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.203	+0.078%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.247	+0.125%	$62K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	93.166	+0.039%	$1.0M	$4.0M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget HYPEUSDT	+0.0016%	4h	93.185	+0.059%	$225.2M	$98.9M	75x	as long as short
Bybit HYPEUSDT	+0.0020%	8h	93.170	+0.043%	$316.5M	$282.9M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0024%	1h	93.150	+0.021%	$702K	$1.2M	10x	as long as short
Phoenix HYPE	+0.0026%	1h	93.263	+0.143%	$207K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0047%	8h	93.223	+0.100%	$12.6M	$2.7M	50x	as long as short
edgeX HYPEUSDC	+0.0088%	4h	93.175	+0.049%	$5.0M	$30.0M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	93.223	+0.100%	$339K	$162K	20x	as long as short
Lighter HYPEshort	+0.0096%	1h	93.199	+0.074%	$16.1M	$63.1M	20x
Lighter RH HYPE	+0.0096%	1h	93.195	+0.070%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.189	+0.063%	$75K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.160	+0.032%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.207	+0.082%	$8.0M	$48.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.251	+0.130%	$2.03B	$668.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.189	+0.063%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.229	+0.106%	$10.0M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.180	+0.054%	$373.3M	$912.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.174	+0.047%	$114.3M	$309.2M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.230	+0.107%	$215K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.177	+0.050%	$46.7M	$54.3M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.205	+0.081%	$90.9M	$81.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.187	+0.061%	$46.0M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.190	+0.064%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.248	+0.127%	$7.3M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.351	+0.237%	$28.6M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.218	+0.094%	$7.5M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.165	+0.038%	$342K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.230	+0.107%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.260	+0.140%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.206	+0.082%	$483K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.237	+0.115%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.200	+0.075%	$16.1M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.268	+0.148%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.198	+0.073%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.420	+0.311%	$1.4M	$6.5M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.163	+0.036%	$18.1M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.225	+0.102%	$394K	$158K	20x	as long as short
Kalshi KXHYPEPERP	+0.0110%	8h	93.313	+0.196%	$1.8M	$5.7M	2.3x	as long as short
Injective HYPE/USDC PERPlong	+0.0122%	1h	93.130	long leg	$30K	$339K	12x
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.230	+0.107%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0269%	1h	93.187	+0.061%	$80K	$127K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.248	+0.126%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.202	+0.077%	$16.9M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0342%	1h	93.275	+0.155%	$20.8M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0415%	1h	93.285	+0.166%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.265	+0.145%	$3.2M	$6.3M	20x	as long as short