data as of
Settings8H · net · $10k
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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−$15
spread now+0.115%7d average+0.110%fees + slippage, in and out−$16spread needed0.156%
Long on Lighter RHShort on Phoenix
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter RH HYPE92.8340.0096pay 0.0012% / 1h15m 02s$3.1M$12.2M20x
ShortPhoenix HYPE92.9410.0351get 0.0044% / 1h15m 02s$293K$984K10x

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
$11.53
Funding while held
$7.66
Slippage, 4 orders
−$8.58
Fee Lighter RH: 0 bp × 2 orders
$0
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
$3.61
Spread needed to break even
0.156%
Slippage from Lighter RH: live order book, 5 min ago; Phoenix: live order book, 40 min ago.

Cost of waiting

funding view
Funding /8h
+0.0255%
Per $10,000 a day
+$7.66
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, 5 min ago0.70 bp2.1 bp −$24.7 bp −$4721.2 bp −$2,121doesn't fit
Sell Phoenix live order book, 40 min ago1.18 bp5.8 bp −$611.1 bp −$111139.2 bp −$13.9Kdoesn't fit

HYPE price on every exchange

against the cheapest. Click to use as the short leg.
Bulk92.620cheapestOndo Perps92.700+0.086%ApeX Omni92.708+0.095%Arcus92.744+0.134%Hibachi92.746+0.136%Aftermath Perps92.771+0.163%StandX92.776+0.168%Katana Perps92.790+0.184%GMX92.790+0.184%Derive92.791+0.184%Variational Omni92.793+0.187%Nado92.794+0.188%dYdX92.795+0.189%Perpl92.796+0.190%KuCoin92.797+0.191%Vest92.799+0.193%Bybit92.800+0.194%Aster92.804+0.199%SoDEX92.804+0.199%Aevo92.809+0.204%Popdex92.810+0.205%Polymarket Perps92.810+0.205%Extended92.811+0.206%MEXC92.811+0.206%BloFin92.812+0.207%Gate92.813+0.208%Reya92.815+0.210%01 Exchange92.816+0.212%Bullet92.817+0.213%Bitget92.818+0.214%Bluefin92.818+0.214%BingX92.819+0.215%OKX92.821+0.217%gTrade (Gains Network)92.822+0.218%Hotstuff92.823+0.219%Pacifica92.824+0.221%Phemex92.826+0.222%
Lighter RH92.834+0.231%
Binance92.835+0.233%Orderly92.841+0.239%Kraken Futures92.846+0.244%edgeX92.852+0.251%RISEx92.858+0.256%Paradex92.859+0.258%Coinbase International92.860+0.259%Lighter92.870+0.270%Backpack92.871+0.271%Hyperliquid92.873+0.273%Kalshi92.879+0.280%Deribit92.879+0.280%SunX92.908+0.311%
Phoenix92.941+0.347%
HTX93.000+0.410%Injective93.630+1.090%

HYPE on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Bulk HYPE-USD−0.231%+0.0100%1h$202K$8K10xas long as short
Ondo Perps HYPE-USD.P−0.144%+0.0100%1h$697K$971K10xas long as short
ApeX Omni HYPEUSDT−0.136%+0.0100%1h$428K$927K50xas long as short
Arcus HYPE-USD−0.097%+0.0100%1h$1.2M$4.0M10xas long as short
Hibachi HYPE/USDT-P−0.094%−0.1048%1h$194K$224K7xas long as short
Aftermath Perps HYPEUSD−0.068%+0.0242%1h$22K$31K10xas long as short
StandX HYPE-USD−0.062%+0.0100%1h$669K$2.3M20xas long as short
Katana Perps HYPE-USD−0.047%+0.0100%8h$33K$1.8M10xas long as short
GMX HYPE/USD [WBTC.b-USDC]−0.047%L +0.0341% / S −0.0166%1h$1.4M—100xas long as short
Derive HYPE-PERP−0.046%+0.0100%1h$16.3M$7.2M10xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Variational Omni HYPE−0.044%+0.0100%8h$28.7M$48.9M—as long as short
Nado HYPE-PERP−0.043%+0.0100%1h$6.4M$43.4M10xas long as short
dYdX HYPE-USD−0.042%+0.0008%1h$126K$26K5xas long as short
Perpl HYPE−0.041%+0.0447%43m$27K$353K10xas long as short
KuCoin HYPEUSDTM−0.040%+0.0100%4h$46.0M$19.6M75xas long as short
Vest HYPE-PERP−0.037%+0.0100%1h—$407K5xas long as short
Bybit HYPEUSDT−0.037%+0.0100%8h$326.6M$282.1M75xas long as short
Aster HYPEUSDT−0.032%+0.0100%4h$8.8M$35.2M300xas long as short
SoDEX HYPE-USD−0.032%+0.0100%1h$2.0M$2.0M10xas long as short
Aevo HYPE-PERP−0.027%+0.0104%1h$395K$335K20xas long as short
Popdex HYPEUSDT−0.026%+0.0096%1h$68K$1.2M50xas long as short
Polymarket Perps HYPE-USD−0.026%+0.0100%1h$482K$2.4M20xas long as short
Extended HYPE-USD−0.025%+0.0104%1h$18.1M$40.8M50xas long as short
MEXC HYPE_USDT−0.025%+0.0100%4h$91.0M$82.9M100xas long as short
BloFin HYPE-USDT−0.024%+0.0340%4h$17.4M$11.7M75xas long as short
Gate HYPE_USDT−0.023%+0.0100%4h$43.8M$54.5M75xas long as short
Reya HYPERUSDPERP−0.021%+0.0237%1h$79K$155K15xas long as short
01 Exchange HYPEUSD−0.019%+0.0088%1h$90K$316K20xas long as short
Bullet HYPE-USD−0.018%+0.0100%1h$112K$567K20xas long as short
Bitget HYPEUSDT−0.017%+0.0100%4h$226.8M$99.8M75xas long as short
Bluefin HYPE-PERP−0.017%+0.0100%1h$73K$178K20xas long as short
BingX HYPE-USDT−0.016%+0.0040%4h—$52.4M—as long as short
OKX HYPE-USDT-SWAP−0.014%+0.0100%8h$114.6M$309.3M50xas long as short
gTrade (Gains Network) HYPE/USD−0.013%L +0.0002% / S −0.0001%1h$54K—150xas long as short
Hotstuff HYPE-PERP−0.012%−0.0080%1h$3K$30725xas long as short
Pacifica HYPE−0.010%+0.0100%1h$11.3M$12.3M20xas long as short
Phemex HYPEUSDT−0.009%+0.0100%8h$12.6M$2.3M50xas long as short
Lighter RH HYPElong0.000%+0.0096%1h$3.1M$12.2M20x
Binance HYPEUSDT+0.002%+0.0100%4h$389.3M$844.1M75xas long as short
Orderly PERP_HYPE_USDC+0.008%+0.0097%4h$194K$457K20xas long as short
Kraken Futures PF_HYPEUSD+0.013%+0.0258%1h$16.2M$20.5M50xas long as short
edgeX HYPEUSDC+0.019%+0.0111%4h$5.1M$28.4M30xas long as short
RISEx HYPE/USDC+0.025%+0.0611%1h$2.6M$6.5M20xas long as short
Paradex HYPE-USD-PERP+0.027%+0.0111%8h$336K$285K20xas long as short
Coinbase International HYPE-PERP-INTX+0.028%+0.0200%1h$4.9M$5.3M50xas long as short
Lighter HYPE+0.039%+0.0096%1h$18.2M$57.4M20xas long as short
Backpack HYPE_USDC_PERP+0.040%+0.0100%1h$8.5M$10.7M20xas long as short
Hyperliquid HYPE+0.042%+0.0900%1h$2.01B$623.4M10xas long as short
Kalshi KXHYPEPERP+0.048%+0.0101%8h$1.7M$4.9M2.3xas long as short
Deribit HYPE_USDC-PERPETUAL+0.048%+0.0375%1h$7.4M$4.2M50xas long as short
SunX HYPE-USDT+0.080%+0.0100%4h$32K$1.6M20xas long as short
Phoenix HYPEshort+0.115%+0.0351%1h$293K$984K10x
HTX HYPE-USDT+0.179%+0.0795%4h$1.5M$7.2M75xas long as short
Injective HYPE/USDC PERP+0.857%+0.0082%1h$21K$168K12xas long as short