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−$12
spread now+0.041%7d average+0.011%fees + slippage, in and out−$15spread needed0.146%
Long on Lighter RHShort on Hyperliquid
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter RH HYPE93.2470.0096pay 0.0012% / 1h24m 37s$3.1M$12.1M20x
ShortHyperliquid HYPE93.2850.0228get 0.0028% / 1h24m 37s$2.02B$613.9M10x

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
$4.08
Funding while held
$3.95
Slippage, 4 orders
−$5.57
Fee Lighter RH: 0 bp × 2 orders
$0
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$6.54
Spread needed to break even
0.146%
Slippage from Lighter RH: live order book, 6 min ago; Hyperliquid: live order book, 11 min ago.

Cost of waiting

funding view
Funding /8h
+0.0132%
Per $10,000 a day
+$3.95
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, 6 min ago1.18 bp2.8 bp −$35.1 bp −$5127.1 bp −$2,708doesn't fit
Sell Hyperliquid live order book, 11 min ago0.05 bp4.9 bp −$57.6 bp −$76doesn't fitdoesn't fit

HYPE price on every exchange

against the cheapest. Click to use as the short leg.
Aftermath Perps93.137cheapestArcus93.158+0.022%Bluefin93.164+0.029%KuCoin93.167+0.032%dYdX93.172+0.038%Variational Omni93.176+0.042%Bybit93.180+0.046%Aster93.184+0.050%Hibachi93.189+0.055%Gate93.204+0.072%Backpack93.204+0.072%OKX93.205+0.073%BingX93.212+0.080%BloFin93.212+0.080%Pacifica93.218+0.086%Extended93.224+0.093%Paradex93.230+0.099%Katana Perps93.230+0.100%Binance93.231+0.101%Phemex93.233+0.103%MEXC93.238+0.108%Ondo Perps93.240+0.110%Derive93.240+0.111%Bitget93.242+0.112%Phoenix93.244+0.115%GMX93.245+0.116%
Lighter RH93.247+0.118%
Vest93.253+0.125%Aevo93.259+0.131%Lighter93.261+0.133%Reya93.271+0.144%Bullet93.272+0.145%Perpl93.273+0.146%Nado93.276+0.149%01 Exchange93.279+0.152%Popdex93.279+0.152%Bulk93.279+0.152%SoDEX93.283+0.156%gTrade (Gains Network)93.284+0.157%Polymarket Perps93.284+0.157%
Hyperliquid93.285+0.159%
Orderly93.289+0.163%Hotstuff93.291+0.165%RISEx93.293+0.168%Coinbase International93.310+0.185%SunX93.312+0.188%Kraken Futures93.316+0.192%Kalshi93.324+0.200%Deribit93.342+0.220%StandX93.344+0.222%edgeX93.378+0.259%ApeX Omni93.408+0.291%HTX93.450+0.336%Injective93.640+0.540%

HYPE on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Aftermath Perps HYPEUSD−0.118%+0.0304%1h$22K$34K10xas long as short
Arcus HYPE-USD−0.095%+0.0100%1h$1.2M$4.2M10xas long as short
Bluefin HYPE-PERP−0.089%+0.4192%1h$73K$189K20xas long as short
KuCoin HYPEUSDTM−0.086%+0.0100%4h$45.1M$20.0M75xas long as short
dYdX HYPE-USD−0.080%+0.0044%1h$127K$26K5xas long as short
Variational Omni HYPE−0.076%+0.0100%8h$29.0M$51.0M—as long as short
Bybit HYPEUSDT−0.072%+0.0100%8h$326.2M$286.1M75xas long as short
Aster HYPEUSDT−0.067%+0.0100%4h$8.9M$35.5M300xas long as short
Hibachi HYPE/USDT-P−0.062%+0.0184%1h$195K$232K7xas long as short
Gate HYPE_USDT−0.046%+0.0100%4h$44.1M$54.6M75xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Backpack HYPE_USDC_PERP−0.046%+0.0100%1h$8.2M$9.9M20xas long as short
OKX HYPE-USDT-SWAP−0.045%+0.0084%8h$114.5M$314.8M50xas long as short
BingX HYPE-USDT−0.038%+0.0100%4h—$52.9M—as long as short
BloFin HYPE-USDT−0.038%+0.0340%4h$17.3M$12.0M75xas long as short
Pacifica HYPE−0.031%+0.0100%1h$11.3M$12.4M20xas long as short
Extended HYPE-USD−0.025%+0.0104%1h$18.2M$42.3M50xas long as short
Paradex HYPE-USD-PERP−0.019%+0.0124%8h$338K$287K20xas long as short
Katana Perps HYPE-USD−0.018%+0.0100%8h$38K$1.8M10xas long as short
Binance HYPEUSDT−0.017%+0.0100%4h$391.4M$852.8M75xas long as short
Phemex HYPEUSDT−0.015%+0.0073%8h$12.6M$2.4M50xas long as short
MEXC HYPE_USDT−0.010%+0.0100%4h$90.7M$88.1M100xas long as short
Ondo Perps HYPE-USD.P−0.008%+0.0100%1h$701K$989K10xas long as short
Derive HYPE-PERP−0.007%+0.0100%1h$16.4M$7.3M10xas long as short
Bitget HYPEUSDT−0.005%+0.0100%4h$228.7M$101.9M75xas long as short
Phoenix HYPE−0.003%+0.0386%1h$294K$1.0M10xas long as short
GMX HYPE/USD [WBTC.b-USDC]−0.002%L +0.0355% / S −0.0175%1h$1.5M—100xas long as short
Lighter RH HYPElong0.000%+0.0096%1h$3.1M$12.1M20x
Vest HYPE-PERP+0.007%+0.0100%1h—$407K5xas long as short
Aevo HYPE-PERP+0.013%+0.0104%1h$397K$340K20xas long as short
Lighter HYPE+0.015%+0.0176%1h$18.4M$57.7M20xas long as short
Reya HYPERUSDPERP+0.026%+0.0230%1h$73K$159K15xas long as short
Bullet HYPE-USD+0.027%+0.0100%1h$112K$579K20xas long as short
Perpl HYPE+0.028%+0.0112%43m$31K$350K10xas long as short
Nado HYPE-PERP+0.031%+0.0100%1h$5.5M$43.0M10xas long as short
01 Exchange HYPEUSD+0.034%+0.0160%1h$91K$320K20xas long as short
Popdex HYPEUSDT+0.034%+0.0096%1h$134K$1.2M50xas long as short
Bulk HYPE-USD+0.034%+0.0100%1h$204K$17K10xas long as short
SoDEX HYPE-USD+0.039%+0.0100%1h$2.0M$2.0M10xas long as short
gTrade (Gains Network) HYPE/USD+0.039%L +0.0002% / S −0.0001%1h$55K—150xas long as short
Polymarket Perps HYPE-USD+0.040%+0.0100%1h$458K$2.4M20xas long as short
Hyperliquid HYPEshort+0.041%+0.0228%1h$2.02B$613.9M10x
Orderly PERP_HYPE_USDC+0.045%−0.0007%4h$170K$381K20xas long as short
Hotstuff HYPE-PERP+0.047%−0.0080%1h$3K$30725xas long as short
RISEx HYPE/USDC+0.050%+0.0620%1h$2.5M$7.4M20xas long as short
Coinbase International HYPE-PERP-INTX+0.068%+0.0152%1h$5.0M$5.5M50xas long as short
SunX HYPE-USDT+0.070%+0.0100%4h$32K$1.6M20xas long as short
Kraken Futures PF_HYPEUSD+0.074%+0.0409%1h$16.4M$20.8M50xas long as short
Kalshi KXHYPEPERP+0.083%+0.0124%8h$1.7M$4.8M2.3xas long as short
Deribit HYPE_USDC-PERPETUAL+0.102%+0.0200%1h$7.4M$4.8M50xas long as short
StandX HYPE-USD+0.104%+0.0100%1h$673K$2.2M20xas long as short
edgeX HYPEUSDC+0.141%+0.0109%4h$5.1M$28.8M30xas long as short
ApeX Omni HYPEUSDT+0.173%+0.0100%1h$429K$929K50xas long as short
HTX HYPE-USDT+0.218%+0.0832%4h$1.5M$7.0M75xas long as short
Injective HYPE/USDC PERP+0.421%+0.0356%1h$24K$256K12xas long as short