Funding you earn now, next payment 01:00 UTC+0.0344%/8h= +37.7% APRnext payment +$0.43 per $10,000 · paid last 24h +0.019%
Price spread now: Deribit against Lighter RH+0.055%7-day average +0.027% · you sell dearer than you buy
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$200.196% of the position
Funding, last 7 days+0.025%+$3 on $10k
+Price spread, last 3 days (all we have)−0.051%−$5 · spread now +0.055%, 7d avg +0.027%
=Together, before fees−0.025%+ Points / potential airdropLighter RH: Points live · farm board−$3 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Deribit is 0.028% dearer against Lighter RH than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.027%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.025% in total (about 1.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.43 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH HYPE | 94.169 | 0.0096 | pay 0.0012% / 1h | 26m 27s | $3.0M | $12.1M | 20x |
| Short | Deribit HYPE_USDC-PERPETUAL | 94.221 | 0.0440 | get 0.0055% / 1h | 26m 27s | $7.5M | $4.7M | 50x |
Lighter RH HYPE
Deribit HYPE_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Lighter RH. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $72.24
- Price spread: +0.055% → +0.027%
- $2.81
- Slippage, 4 orders
- −$12.63
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $55.42
- Costs to cover
- 0.196%
- Break-even
- 1.6 days
Slippage from Lighter RH: live order book, 2 min ago; Deribit: live order book, 3 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 RH live order book, 2 min ago | 0.58 bp | 4.0 bp −$4 | 7.5 bp −$75 | 37.3 bp −$3,731 | doesn't fit |
| Sell Deribit live order book, 3 min ago | 3.56 bp | 7.1 bp −$7 | 14.6 bp −$146 | doesn't fit | 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 | −0.1376% | 1h | 94.105 | −0.068% | $199K | $228K | 7x | as long as short |
| Arcus HYPE-USD | −0.0625% | 1h | 94.061 | −0.115% | $1.2M | $3.8M | 10x | as long as short |
| Aftermath Perps HYPEUSD | −0.0225% | 1h | 94.144 | −0.027% | $22K | $21K | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0150% | 1h | 94.090 | −0.084% | $711K | $960K | 10x | as long as short |
| dYdX HYPE-USD | −0.0139% | 1h | 94.123 | −0.049% | $129K | $31K | 5x | as long as short |
| Bullet HYPE-USD | −0.0102% | 1h | 94.160 | −0.009% | $113K | $580K | 20x | as long as short |
| Phemex HYPEUSDT | −0.0097% | 8h | 94.105 | −0.068% | $12.8M | $2.6M | 50x | as long as short |
| 01 Exchange HYPEUSD | −0.0080% | 1h | 94.172 | +0.003% | $86K | $359K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 94.124 | −0.048% | $3K | $331 | 25x | as long as short |
| Bybit HYPEUSDT | −0.0020% | 8h | 94.162 | −0.007% | $323.5M | $280.4M | 75x | as long as short |
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Aftermath Perps HYPEUSD
Ondo Perps HYPE-USD.P
dYdX HYPE-USD
Bullet HYPE-USD
Phemex HYPEUSDT
01 Exchange HYPEUSD
Hotstuff HYPE-PERP
Bybit HYPEUSDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_HYPE_USDC | −0.0019% | 4h | 94.155 | −0.015% | $160K | $645K | 20x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 94.135 | −0.036% | $23K | $327K | 10x | as long as short |
| Gate HYPE_USDT | +0.0002% | 4h | 94.191 | +0.023% | $44.6M | $59.8M | 75x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0003% | 1h | 94.206 | +0.039% | $27K | — | 150x | as long as short |
| Aster HYPEUSDT | +0.0020% | 4h | 94.173 | +0.004% | $8.9M | $36.1M | 300x | as long as short |
| Phoenix HYPE | +0.0034% | 1h | 94.121 | −0.051% | $219K | $1.2M | 10x | as long as short |
| Derive HYPE-PERP | +0.0040% | 1h | 94.146 | −0.025% | $16.5M | $7.3M | 10x | as long as short |
| MEXC HYPE_USDT | +0.0048% | 4h | 94.182 | +0.014% | $89.3M | $82.7M | 100x | as long as short |
| Binance HYPEUSDT | +0.0049% | 4h | 94.199 | +0.032% | $384.2M | $893.0M | 75x | as long as short |
| edgeX HYPEUSDC | +0.0059% | 4h | 94.004 | −0.175% | $5.1M | $29.9M | 30x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0079% | 8h | 94.190 | +0.022% | $116.2M | $318.8M | 50x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 94.186 | +0.018% | $19.2M | $59.8M | 20x | as long as short |
| Lighter RH HYPElong | +0.0096% | 1h | 94.169 | long leg | $3.0M | $12.1M | 20x | |
| Popdex HYPEUSDT | +0.0096% | 1h | 94.168 | −0.001% | $66K | $1.2M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0096% | 1h | 94.165 | −0.004% | $401K | $180K | 20x | as long as short |
| Paradex HYPE-USD-PERP | +0.0099% | 8h | 94.195 | +0.028% | $342K | $165K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 94.180 | +0.012% | $24K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 94.147 | −0.023% | $6.6M | $44.8M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 94.261 | +0.098% | $2.06B | $677.4M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 94.173 | +0.004% | $10.2M | $14.6M | 20x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 94.181 | +0.013% | $46.6M | $18.1M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 94.202 | +0.035% | $228.4M | $100.9M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 94.183 | +0.015% | — | $54.0M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 94.143 | −0.028% | $7.7M | $10.4M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 94.149 | −0.021% | $31.5M | $54.0M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 94.088 | −0.086% | $7.6M | $46.0M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 94.057 | −0.119% | $340K | $1.1M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 94.130 | −0.041% | $681K | $2.6M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 94.187 | +0.019% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 94.186 | +0.018% | $481K | $2.5M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 94.183 | +0.015% | $76K | $170K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 94.216 | +0.050% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 94.125 | −0.047% | $2.0M | $2.0M | 10x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 94.151 | −0.019% | $205K | $2K | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 94.147 | −0.024% | $18.8M | $44.4M | 50x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0144% | 1h | 94.030 | −0.148% | $4.9M | $5.5M | 50x | as long as short |
| BloFin HYPE-USDT | +0.0198% | 4h | 94.138 | −0.033% | $17.0M | $12.2M | 75x | as long as short |
| Injective HYPE/USDC PERP | +0.0205% | 1h | 94.490 | +0.341% | $31K | $338K | 12x | as long as short |
| RISEx HYPE/USDC | +0.0222% | 1h | 94.210 | +0.043% | $2.8M | $6.7M | 20x | as long as short |
| Kalshi KXHYPEPERP | +0.0224% | 8h | 94.187 | +0.019% | $1.9M | $5.1M | 2.3x | as long as short |
| Reya HYPERUSDPERP | +0.0251% | 1h | 94.167 | −0.003% | $79K | $142K | 15x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0333% / S −0.0155% | 1h | 94.212 | +0.046% | $1.4M | — | 100x | as long as short |
| HTX HYPE-USDT | +0.0417% | 4h | 94.294 | +0.133% | $1.5M | $6.3M | 75x | as long as short |
| Deribit HYPE_USDC-PERPETUALshort | +0.0440% | 1h | 94.221 | +0.055% | $7.5M | $4.7M | 50x | |
| Kraken Futures PF_HYPEUSD | +0.0670% | 1h | 94.225 | +0.060% | $21.0M | $29.7M | 50x | as long as short |
Orderly PERP_HYPE_USDC
Perpl HYPE
Gate HYPE_USDT
gTrade (Gains Network) HYPE/USD
Aster HYPEUSDT
Phoenix HYPE
Derive HYPE-PERP
MEXC HYPE_USDT
Binance HYPEUSDT
edgeX HYPEUSDC
OKX HYPE-USDT-SWAP
Lighter HYPE
Popdex HYPEUSDT
Aevo HYPE-PERP
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Bulk HYPE-USD
Extended HYPE-USD
Coinbase International HYPE-PERP-INTX
BloFin HYPE-USDT
Injective HYPE/USDC PERP
RISEx HYPE/USDC
Kalshi KXHYPEPERP
Reya HYPERUSDPERP
GMX HYPE/USD [WBTC.b-USDC]
HTX HYPE-USDT
Kraken Futures PF_HYPEUSD