HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0126%/8h= −13.8% APRnext payment −$0.16 per $10,000 · paid last 24h −0.031%

Price spread now: Lighter against RISEx−0.057%7-day average +0.028% · 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−$100.095% of the position

Long on RISEx Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.110%−$11 on $10k

Price spread, last 7 days+0.046%+$5 · spread now −0.057%, 7d avg +0.028%

Together, before fees−0.064%+ Points / potential airdropLighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Lighter is 0.085% cheaper against RISEx than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.028%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx HYPE/USDC	93.454	0.0222	pay 0.0028% / 1h	1m 14s	$2.7M	$6.7M	20x
Short	Lighter HYPE	93.401	0.0096	get 0.0012% / 1h	1m 14s	$18.8M	$60.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against RISEx. 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 RISExbpFee LighterbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$26.49
Price spread: −0.057% → +0.028%: −$8.48
Slippage, 4 orders: −$3.52
Fee RISEx: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$44.48
Costs to cover: 0.095%
Break-even: never at this rate

Slippage from RISEx: 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 RISEx live order book, 3 min ago	1.01 bp	4.0 bp −$4	7.2 bp −$72	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	0.44 bp	1.0 bp −$1	3.0 bp −$30	12.6 bp −$1,257	37.6 bp −$18.8K

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	−0.1104%	1h	93.469	+0.017%	$198K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.297	−0.167%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0180%	1h	93.772	+0.341%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0107%	1h	93.380	−0.079%	$705K	$961K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.407	−0.050%	$85K	$359K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.439	−0.016%	$3K	$331	25x	as long as short
dYdX HYPE-USD	−0.0077%	1h	93.506	+0.056%	$128K	$31K	5x	as long as short
Gate HYPE_USDT	−0.0072%	4h	93.398	−0.059%	$44.2M	$60.6M	75x	as long as short
Bullet HYPE-USD	−0.0042%	1h	93.405	−0.052%	$112K	$579K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0041%	4h	93.363	−0.097%	$158K	$647K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0006%	4h	93.376	−0.083%	$8.9M	$36.1M	300x	as long as short
Perpl HYPE	0.0000%	43m	93.436	−0.019%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.436	−0.019%	$27K	—	150x	as long as short
Bybit HYPEUSDT	+0.0015%	8h	93.350	−0.111%	$320.8M	$279.8M	75x	as long as short
Derive HYPE-PERP	+0.0024%	1h	93.343	−0.118%	$16.3M	$7.5M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.887	+0.464%	$213K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0035%	8h	93.403	−0.054%	$12.7M	$2.6M	50x	as long as short
Binance HYPEUSDT	+0.0046%	4h	93.380	−0.079%	$380.6M	$898.2M	75x	as long as short
MEXC HYPE_USDT	+0.0052%	4h	93.411	−0.045%	$87.3M	$83.6M	100x	as long as short
edgeX HYPEUSDC	+0.0060%	4h	93.655	+0.216%	$5.1M	$29.7M	30x	as long as short
Bluefin HYPE-PERP	+0.0063%	1h	93.370	−0.089%	$76K	$170K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0071%	8h	93.349	−0.112%	$115.4M	$313.3M	50x	as long as short
Lighter HYPEshort	+0.0096%	1h	93.401	−0.057%	$18.8M	$60.9M	20x
Lighter RH HYPE	+0.0096%	1h	93.381	−0.078%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.409	−0.048%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.376	−0.083%	$397K	$180K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.460	+0.007%	$339K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.390	−0.068%	$34K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.456	+0.002%	$6.6M	$44.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.477	+0.025%	$2.04B	$669.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.457	+0.004%	$10.0M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.423	−0.033%	$46.3M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.396	−0.062%	$226.1M	$100.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.408	−0.049%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.437	−0.018%	$7.9M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.379	−0.080%	$30.9M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.861	+0.436%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.599	+0.156%	$339K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.537	+0.089%	$668K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.482	+0.031%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.440	−0.014%	$472K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.445	−0.009%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.384	−0.074%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.894	+0.471%	$204K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.359	−0.101%	$18.3M	$44.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.420	−0.036%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0182%	4h	93.420	−0.036%	$17.0M	$12.0M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.370	−0.089%	$30K	$338K	12x	as long as short
RISEx HYPE/USDClong	+0.0222%	1h	93.454	long leg	$2.7M	$6.7M	20x
Kalshi KXHYPEPERP	+0.0248%	8h	93.507	+0.057%	$1.9M	$5.2M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0253%	1h	93.402	−0.055%	$79K	$143K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.430	−0.025%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0352%	4h	93.550	+0.103%	$1.5M	$6.0M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0585%	1h	93.493	+0.042%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0676%	1h	93.440	−0.015%	$20.8M	$29.8M	50x	as long as short