HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h −0.028%

Price spread now: dYdX against Lighter RH+0.045%59s7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$560.565% of the position

Long on Lighter RH Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now +0.045%, 7d avg −0.009%

Together, before fees−0.094%+ Points / potential airdropLighter RH: Points live · farm board−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.054% dearer against Lighter RH than usual: you sell high and buy low (spread +0.045% now, against its 7-day average of −0.009%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 45 hours. At the pace of the last 7 days (−0.081% in total) that is about 4.7 days. The two prices were read 59 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	Lighter RH HYPE	94.254	0.0096	pay 0.0012% / 1h	20m 41s	$3.2M	$11.1M	20x
Short	dYdX HYPE-USD	94.296	0	get 0.0000% / 1h	20m 41s	$129K	$26K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 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 Lighter RHbpFee dYdXbpOrdersPrice spread, now +0.045%Rate

Funding earned: −$20.16
Price spread: +0.045% → −0.009%: $5.44
Slippage, 4 orders: −$46.46
Fee Lighter RH: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$71.18
Costs to cover: 0.565%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 3 min ago; dYdX: live order book, 23 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, 3 min ago	0.37 bp	3.0 bp −$3	3.9 bp −$39	22.6 bp −$2,260	doesn't fit
Sell dYdX live order book, 23 min ago	21.17 bp	26.2 bp −$26	58.6 bp −$586	136.4 bp −$13.6K	328.3 bp −$164.2K

HYPE on 54 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	−0.1072%	1h	94.208	−0.049%	$200K	$238K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0197%	1h	94.053	−0.213%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.263	+0.010%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0058%	1h	94.140	−0.121%	$709K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0053%	1h	94.265	+0.011%	$112K	$579K	20x	as long as short
01 Exchange HYPEUSD	−0.0032%	1h	94.292	+0.040%	$86K	$368K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0015%	4h	94.253	−0.001%	$146K	$686K	20x	as long as short
dYdX HYPE-USDshort	0.0000%	1h	94.296	+0.045%	$129K	$26K	5x
Bybit HYPEUSDT	0.0000%	8h	94.230	−0.025%	$317.4M	$289.7M	75x	as long as short
Perpl HYPE	0.0000%	43m	94.297	+0.045%	$19K	$293K	10x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.290	+0.039%	$84K	—	150x	as long as short
Bluefin HYPE-PERP	+0.0005%	1h	94.257	+0.003%	$80K	$155K	20x	as long as short
Phoenix HYPE	+0.0017%	1h	94.378	+0.132%	$207K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0052%	4h	94.240	−0.015%	$227.0M	$99.5M	75x	as long as short
Phemex HYPEUSDT	+0.0056%	8h	94.268	+0.015%	$12.9M	$2.8M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0078%	8h	94.296	+0.045%	$337K	$157K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.236	−0.019%	$1.0M	$4.0M	10x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	94.344	+0.095%	$5.0M	$30.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.245	−0.010%	$16.3M	$64.3M	20x	as long as short
Lighter RH HYPElong	+0.0096%	1h	94.254	long leg	$3.2M	$11.1M	20x
Popdex HYPEUSDT	+0.0096%	1h	94.253	−0.001%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.270	+0.017%	$17K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.226	−0.030%	$7.5M	$50.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.336	+0.087%	$2.07B	$686.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.258	+0.004%	$8.9M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.279	+0.027%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.250	−0.004%	$377.1M	$933.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	94.241	−0.014%	$116.2M	$317.6M	50x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.245	−0.010%	$48.9M	$56.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.264	+0.011%	$89.8M	$85.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.236	−0.019%	$46.8M	$18.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.247	−0.007%	—	$53.5M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.292	+0.040%	$7.2M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.229	−0.027%	$29.0M	$56.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.424	+0.180%	$7.6M	$48.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.356	+0.108%	$363K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.272	+0.019%	$683K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.344	+0.095%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.294	+0.042%	$473K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.311	+0.060%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.251	−0.003%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.307	+0.056%	$1.4M	$6.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.275	+0.022%	$218K	$15K	10x	as long as short
Kalshi KXHYPEPERP	+0.0103%	8h	94.309	+0.058%	$1.8M	$5.6M	2.3x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.218	−0.038%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.262	+0.009%	$398K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.190	−0.068%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.299	+0.048%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.130	−0.132%	$30K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0227%	1h	94.359	+0.111%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.236	−0.019%	$77K	$129K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.264	+0.011%	$16.9M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0412%	1h	94.325	+0.075%	$20.2M	$30.4M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.300	+0.049%	$3.2M	$6.4M	20x	as long as short