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−$27
spread now+0.107%7d average−0.019%fees + slippage, in and out−$40spread needed0.396%
Long on Lighter RHShort on Bluefin
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter RH HYPE94.1290.0096pay 0.0012% / 1h27m 31s$3.1M$11.1M20x
ShortBluefin HYPE-PERP94.2300.0100get 0.0013% / 1h27m 31s$70K$194K20x

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
$10.73
Funding while held
$0.12
Slippage, 4 orders
−$32.59
Fee Lighter RH: 0 bp × 2 orders
$0
Fee Bluefin: 3.5 bp × 2 orders
−$7
Net
−$28.74
Spread needed to break even
0.396%
Slippage from Lighter RH: live order book, 3 min ago; Bluefin: live order book, 28 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 Lighter RH live order book, 3 min ago0.05 bp2.5 bp −$33.8 bp −$3839.1 bp −$3,913doesn't fit
Sell Bluefin live order book, 28 min ago7.88 bp17.1 bp −$17doesn't fitdoesn't fitdoesn't fit

HYPE price on every exchange

against the cheapest. Click to use as the short leg.
Arcus94.034cheapestExtended94.068+0.036%Gate94.077+0.046%BingX94.079+0.048%Variational Omni94.093+0.063%dYdX94.095+0.065%Bybit94.100+0.070%Katana Perps94.100+0.070%KuCoin94.109+0.080%Ondo Perps94.110+0.081%MEXC94.115+0.086%Hotstuff94.126+0.098%Pacifica94.126+0.098%
Lighter RH94.129+0.101%
Perpl94.129+0.101%Paradex94.135+0.108%Bitget94.140+0.113%Popdex94.146+0.119%Reya94.149+0.123%OKX94.150+0.123%Aster94.152+0.125%Polymarket Perps94.153+0.127%Nado94.154+0.128%RISEx94.155+0.129%Binance94.156+0.130%Hibachi94.165+0.139%01 Exchange94.166+0.140%Derive94.167+0.142%Vest94.175+0.150%SoDEX94.183+0.158%Lighter94.188+0.164%Hyperliquid94.201+0.178%Deribit94.205+0.182%ApeX Omni94.211+0.188%Kraken Futures94.212+0.189%
Bluefin94.230+0.208%
Injective94.230+0.208%SunX94.231+0.209%Phemex94.240+0.219%Bulk94.256+0.236%Aftermath Perps94.261+0.241%Backpack94.263+0.244%Aevo94.269+0.250%Coinbase International94.270+0.251%GMX94.276+0.257%gTrade (Gains Network)94.280+0.262%Kalshi94.288+0.270%Orderly94.293+0.275%edgeX94.316+0.300%Bullet94.322+0.306%StandX94.338+0.323%BloFin94.364+0.351%Phoenix94.397+0.386%HTX94.422+0.413%

HYPE on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Arcus HYPE-USD−0.101%−0.0018%1h$1.2M$4.2M10xas long as short
Extended HYPE-USD−0.065%+0.0104%1h$18.6M$37.8M50xas long as short
Gate HYPE_USDT−0.055%−0.0028%4h$44.4M$54.6M75xas long as short
BingX HYPE-USDT−0.053%+0.0100%4h—$48.6M—as long as short
Variational Omni HYPE−0.038%+0.0100%8h$30.5M$50.2M—as long as short
dYdX HYPE-USD−0.036%+0.0008%1h$128K$23K5xas long as short
Bybit HYPEUSDT−0.031%+0.0029%8h$327.5M$276.4M75xas long as short
Katana Perps HYPE-USD−0.031%+0.0099%8h$30K$1.6M10xas long as short
KuCoin HYPEUSDTM−0.021%+0.0086%4h$44.6M$19.5M75xas long as short
Ondo Perps HYPE-USD.P−0.020%+0.0100%1h$706K$903K10xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
MEXC HYPE_USDT−0.015%+0.0088%4h$93.9M$81.3M100xas long as short
Hotstuff HYPE-PERP−0.003%−0.0080%1h$3K$30725xas long as short
Pacifica HYPE−0.003%+0.0100%1h$11.4M$11.9M20xas long as short
Lighter RH HYPElong0.000%+0.0096%1h$3.1M$11.1M20x
Perpl HYPE0.000%0.0000%43m$34K$336K10xas long as short
Paradex HYPE-USD-PERP+0.007%+0.0096%8h$338K$287K20xas long as short
Bitget HYPEUSDT+0.012%+0.0100%4h$232.1M$90.1M75xas long as short
Popdex HYPEUSDT+0.018%+0.0096%1h$85K$1.0M50xas long as short
Reya HYPERUSDPERP+0.022%+0.0216%1h$74K$200K15xas long as short
OKX HYPE-USDT-SWAP+0.022%−0.0085%8h$118.7M$294.3M50xas long as short
Aster HYPEUSDT+0.024%+0.0002%4h$8.7M$32.3M300xas long as short
Polymarket Perps HYPE-USD+0.025%+0.0100%1h$490K$2.4M20xas long as short
Nado HYPE-PERP+0.027%+0.0100%1h$5.7M$42.3M10xas long as short
RISEx HYPE/USDC+0.028%+0.0120%1h$2.5M$7.2M20xas long as short
Binance HYPEUSDT+0.029%+0.0092%4h$395.6M$765.0M75xas long as short
Hibachi HYPE/USDT-P+0.038%−0.0232%1h$203K$179K7xas long as short
01 Exchange HYPEUSD+0.039%+0.0144%1h$84K$286K20xas long as short
Derive HYPE-PERP+0.041%+0.0100%1h$16.7M$6.9M10xas long as short
Vest HYPE-PERP+0.049%+0.0100%1h—$407K5xas long as short
SoDEX HYPE-USD+0.057%+0.0100%1h$2.0M$1.9M10xas long as short
Lighter HYPE+0.063%+0.0096%1h$18.8M$52.2M20xas long as short
Hyperliquid HYPE+0.077%+0.0100%1h$2.06B$546.7M10xas long as short
Deribit HYPE_USDC-PERPETUAL+0.081%0.0000%1h$7.3M$4.5M50xas long as short
ApeX Omni HYPEUSDT+0.087%+0.0100%1h$415K$937K50xas long as short
Kraken Futures PF_HYPEUSD+0.088%−0.0293%1h$16.9M$20.4M50xas long as short
Bluefin HYPE-PERPshort+0.107%+0.0100%1h$70K$194K20x
Injective HYPE/USDC PERP+0.107%+0.0375%1h$24K$259K12xas long as short
SunX HYPE-USDT+0.108%+0.0100%4h$28K$1.5M20xas long as short
Phemex HYPEUSDT+0.118%+0.0012%8h$12.8M$2.2M50xas long as short
Bulk HYPE-USD+0.135%+0.0100%1h$214K$10K10xas long as short
Aftermath Perps HYPEUSD+0.140%+0.0069%1h$22K$35K10xas long as short
Backpack HYPE_USDC_PERP+0.142%+0.0100%1h$8.1M$8.4M20xas long as short
Aevo HYPE-PERP+0.149%+0.0104%1h$401K$342K20xas long as short
Coinbase International HYPE-PERP-INTX+0.150%+0.0032%1h$5.0M$5.2M50xas long as short
GMX HYPE/USD [WBTC.b-USDC]+0.156%L +0.0346% / S −0.0159%1h$1.5M—100xas long as short
gTrade (Gains Network) HYPE/USD+0.160%L +0.0002% / S −0.0001%1h$33K—150xas long as short
Kalshi KXHYPEPERP+0.169%+0.0169%8h$1.7M$4.1M2.3xas long as short
Orderly PERP_HYPE_USDC+0.174%−0.0278%4h$169K$396K20xas long as short
edgeX HYPEUSDC+0.199%+0.0093%4h$5.2M$25.5M30xas long as short
Bullet HYPE-USD+0.205%+0.0100%1h$113K$579K20xas long as short
StandX HYPE-USD+0.222%+0.0100%1h$722K$2.1M20xas long as short
BloFin HYPE-USDT+0.250%+0.0321%4h$17.8M$11.6M75xas long as short
Phoenix HYPE+0.285%+0.0152%1h$296K$1.0M10xas long as short
HTX HYPE-USDT+0.311%+0.0231%4h$1.5M$6.4M75xas long as short