HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0056%/8h= +6.1% APRnext payment +$0.07 per $10,000 · paid last 24h +0.004%

Price spread now: Lighter against Popdex−0.075%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$80.085% of the position

Long on Popdex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.011%+$1 on $10k

Price spread, last 7 days+0.106%+$11 · spread now −0.075%, 7d avg +0.020%

Together, before fees+0.117%+ Points / potential airdropLighter: Season 3 · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.095% cheaper against Popdex than usual: you would sell low and buy high (spread −0.075% now, against its 7-day average of +0.020%). If the spread goes back, that is −$10 on $10k: about 5.7 days of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.011% in total) that is about 31 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex HYPEUSDT	92.890	0.0040	pay 0.0005% / 1h	21m 21s	$81K	$1.1M	50x
Short	Lighter HYPE	92.820	0.0096	get 0.0012% / 1h	21m 21s	$16.0M	$62.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Popdex. 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 PopdexbpFee LighterbpOrdersPrice spread, now −0.075%Rate

Funding earned: $11.76
Price spread: −0.075% → +0.020%: −$9.53
Slippage, 4 orders: −$2.08
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Lighter: 0 bp × 2 orders: $0
Net: −$6.25
Costs to cover: 0.085%
Break-even: 10.7 days

Slippage from Popdex: live order book, 3 min ago; Lighter: live order book, 8 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 Popdex live order book, 3 min ago	0.27 bp	3.5 bp −$3	4.1 bp −$41	28.5 bp −$2,850	doesn't fit
Sell Lighter live order book, 8 min ago	0.73 bp	0.7 bp −$1	2.2 bp −$22	9.4 bp −$939	39.4 bp −$19.7K

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	−0.1712%	1h	92.605	−0.307%	$193K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0292%	1h	92.729	−0.173%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.841	−0.053%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.866	−0.026%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0058%	4h	92.851	−0.042%	$145K	$681K	20x	as long as short
Bullet HYPE-USD	−0.0002%	1h	92.854	−0.038%	$112K	$577K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.850	−0.043%	$127K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.870	−0.022%	$22K	$293K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.894	+0.004%	$62K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0018%	1h	92.830	−0.065%	$697K	$1.1M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange HYPEUSD	+0.0024%	1h	92.908	+0.019%	$87K	$364K	20x	as long as short
Phoenix HYPE	+0.0026%	1h	92.921	+0.033%	$208K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	92.866	−0.026%	$315.9M	$283.3M	75x	as long as short
Popdex HYPEUSDTlong	+0.0040%	1h	92.890	long leg	$81K	$1.1M	50x
Bitget HYPEUSDT	+0.0044%	4h	92.880	−0.011%	$224.8M	$99.0M	75x	as long as short
Phemex HYPEUSDT	+0.0049%	8h	92.862	−0.030%	$12.5M	$2.7M	50x	as long as short
Gate HYPE_USDT	+0.0092%	4h	92.873	−0.018%	$45.1M	$54.5M	75x	as long as short
Lighter HYPEshort	+0.0096%	1h	92.820	−0.075%	$16.0M	$62.7M	20x
Lighter RH HYPE	+0.0096%	1h	92.800	−0.097%	$3.1M	$11.6M	20x	as long as short
edgeX HYPEUSDC	+0.0098%	4h	92.694	−0.211%	$4.9M	$29.6M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	92.874	−0.018%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.870	−0.022%	$34K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.805	−0.092%	$7.4M	$46.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.906	+0.017%	$2.02B	$666.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	92.852	−0.041%	$8.7M	$36.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	92.854	−0.039%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.874	−0.017%	$373.5M	$906.5M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.863	−0.029%	$114.1M	$303.9M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.709	−0.195%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.895	+0.005%	$91.3M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.873	−0.018%	$46.1M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.871	−0.020%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.693	−0.212%	$7.2M	$11.2M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.768	−0.132%	$28.5M	$57.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.808	−0.088%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.725	−0.178%	$340K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.765	−0.135%	$667K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.877	−0.014%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.908	+0.019%	$487K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.892	+0.002%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.858	−0.035%	$16.0M	$7.6M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.903	+0.014%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.874	−0.017%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.995	+0.113%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.843	−0.051%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.861	−0.031%	$393K	$164K	20x	as long as short
Kalshi KXHYPEPERP	+0.0132%	8h	92.718	−0.185%	$1.8M	$5.4M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.900	+0.011%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.956	+0.071%	$20.7M	$29.6M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.150	+0.280%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0266%	1h	92.873	−0.019%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.893	+0.003%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.682	−0.224%	$16.7M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0450%	1h	92.967	+0.083%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.924	+0.036%	$3.2M	$6.4M	20x	as long as short