HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%

Price spread now: Nado against Lighter−0.037%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$90.089% of the position

Long on Lighter Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.019%−$2 on $10k

Price spread, last 7 days+0.058%+$6 · spread now −0.037%, 7d avg −0.022%

Together, before fees+0.039%+ Points / potential airdropLighter: Season 3 · Nado: Active · farm board+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter HYPE	94.149	0.0096	pay 0.0012% / 1h	0m 12s	$16.3M	$64.5M	20x
Short	Nado HYPE-PERP	94.114	0.0100	get 0.0012% / 1h	0m 12s	$7.3M	$50.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Lighter. 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 LighterbpFee NadobpOrdersPrice spread, now −0.037%Rate

Funding earned: $0.84
Price spread: −0.037% → −0.022%: −$1.48
Slippage, 4 orders: −$1.9
Fee Lighter: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$9.54
Costs to cover: 0.089%
Break-even: 86.5 days

Slippage from Lighter: live order book, 4 min ago; Nado: live order book, 4 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 Lighter live order book, 4 min ago	0.61 bp	0.8 bp −$1	1.9 bp −$19	9.3 bp −$932	38.2 bp −$19.1K
Sell Nado live order book, 4 min ago	0.05 bp	3.6 bp −$4	6.1 bp −$61	28.9 bp −$2,893	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-P	−0.1088%	1h	94.072	−0.082%	$201K	$235K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0175%	1h	94.237	+0.093%	$22K	$21K	10x	as long as short
Bluefin HYPE-PERP	−0.0105%	1h	94.114	−0.037%	$80K	$155K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0103%	1h	93.980	−0.180%	$709K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.214	+0.069%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0080%	1h	94.163	+0.015%	$111K	$578K	20x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	94.155	+0.006%	$87K	$366K	20x	as long as short
Bybit HYPEUSDT	−0.0009%	8h	94.133	−0.017%	$317.2M	$289.6M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0008%	4h	94.127	−0.023%	$146K	$685K	20x	as long as short
BingX HYPE-USDT	−0.0006%	4h	94.138	−0.012%	—	$53.5M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	94.094	−0.058%	$129K	$26K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.234	+0.090%	$1.8M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.177	+0.030%	$19K	$287K	10x	as long as short
Derive HYPE-PERP	+0.0001%	1h	94.110	−0.042%	$16.4M	$7.5M	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.186	+0.040%	$117K	—	150x	as long as short
Phoenix HYPE	+0.0017%	1h	94.254	+0.112%	$206K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0044%	4h	94.129	−0.021%	$226.4M	$100.1M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0059%	8h	94.094	−0.058%	$336K	$156K	20x	as long as short
Phemex HYPEUSDT	+0.0059%	8h	94.167	+0.019%	$12.8M	$2.9M	50x	as long as short
edgeX HYPEUSDC	+0.0082%	4h	94.160	+0.011%	$5.0M	$30.8M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.087	−0.066%	$1.0M	$3.5M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0090%	8h	94.154	+0.005%	$117.4M	$322.3M	50x	as long as short
Lighter HYPElong	+0.0096%	1h	94.149	long leg	$16.3M	$64.5M	20x
Lighter RH HYPE	+0.0096%	1h	94.159	+0.011%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.166	+0.018%	$79K	$1.2M	50x	as long as short
SoDEX HYPE-USD	+0.0099%	1h	94.143	−0.006%	$2.0M	$1.9M	10x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.200	+0.054%	$14K	$1.7M	10x	as long as short
Nado HYPE-PERPshort	+0.0100%	1h	94.114	−0.037%	$7.3M	$50.8M	10x
Hyperliquid HYPE	+0.0100%	1h	94.245	+0.102%	$2.07B	$689.1M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.154	+0.005%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.106	−0.046%	$10.1M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.145	−0.004%	$376.8M	$932.4M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.065	−0.089%	$217K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.134	−0.016%	$49.4M	$57.3M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.146	−0.003%	$90.8M	$85.7M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.151	+0.002%	$46.9M	$18.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.147	−0.002%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.059	−0.096%	$29.1M	$55.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.203	+0.057%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.175	+0.028%	$347K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.233	+0.089%	$681K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.197	+0.051%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.173	+0.025%	$495K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.196	+0.050%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.272	+0.131%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.115	−0.036%	$18.3M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.132	−0.019%	$398K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.210	+0.065%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0021%	1h	94.196	+0.049%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.550	+0.426%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0238%	1h	94.240	+0.097%	$7.4M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.129	−0.022%	$82K	$134K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.122	−0.029%	$17.0M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0413%	1h	94.214	+0.069%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.162	+0.014%	$3.2M	$6.4M	20x	as long as short