HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0031%/8h= +3.4% APRnext payment +$0.04 per $10,000 · paid last 24h 0.000%

Price spread now: Lighter RH against SoDEX−0.014%7-day average +0.018% · 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−$22as in the Price arb table

costs, in and out, $10k−$190.186% of the position

Long on SoDEX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.360%+$36 · spread now −0.014%, 7d avg +0.018%

Together, before fees+0.357%+ Points / potential airdropLighter RH: Points live · farm board+$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter RH is 0.032% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.014% now, against its 7-day average of +0.018%). If the spread goes back, that is −$3 on $10k: about 3.4 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX HYPE-USD	95.031	0.0065	pay 0.0008% / 1h	20m 54s	$2.1M	$1.9M	10x
Short	Lighter RH HYPE	95.018	0.0096	get 0.0012% / 1h	20m 54s	$3.2M	$10.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against SoDEX. 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 SoDEXbpFee Lighter RHbpOrdersPrice spread, now −0.014%Rate

Funding earned: $6.57
Price spread: −0.014% → +0.018%: −$3.2
Slippage, 4 orders: −$10.63
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$15.26
Costs to cover: 0.186%
Break-even: 23.2 days

Slippage from SoDEX: live order book, 3 min ago; Lighter RH: live order book, 3 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 SoDEX live order book, 3 min ago	0.11 bp	6.4 bp −$6	12.6 bp −$126	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	1.11 bp	1.6 bp −$2	4.2 bp −$42	31.4 bp −$3,144	doesn't fit

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	−0.0816%	1h	94.834	−0.207%	$211K	$268K	7x	as long as short
Bluefin HYPE-PERP	−0.0556%	1h	95.007	−0.025%	$79K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0295%	1h	94.654	−0.397%	$22K	$20K	10x	as long as short
Phemex HYPEUSDT	−0.0286%	8h	94.968	−0.066%	$13.0M	$2.8M	50x	as long as short
Bullet HYPE-USD	−0.0237%	1h	95.015	−0.017%	$113K	$577K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0150%	1h	94.920	−0.117%	$705K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	95.009	−0.023%	$90K	$355K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.985	−0.048%	$1.0M	$3.3M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.963	−0.072%	$3K	$331	25x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	95.019	−0.013%	$18.9M	$35.6M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0010%	8h	95.032	+0.001%	$319.6M	$292.0M	75x	as long as short
dYdX HYPE-USD	−0.0008%	1h	95.006	−0.027%	$130K	$92K	5x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	95.002	−0.031%	$147K	$676K	20x	as long as short
Gate HYPE_USDT	−0.0004%	4h	95.043	+0.013%	$52.1M	$55.6M	75x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	95.108	+0.081%	$1.8M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.996	−0.037%	$19K	$275K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.947	−0.088%	$85K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.372	−0.693%	$209K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0010%	1h	94.160	−0.916%	$16.3M	$7.5M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	95.070	+0.041%	$4.7M	$5.8M	50x	as long as short
Bitget HYPEUSDT	+0.0034%	4h	95.052	+0.022%	$228.4M	$96.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0040%	8h	95.047	+0.017%	$118.6M	$326.8M	50x	as long as short
Backpack HYPE_USDC_PERP	+0.0041%	1h	95.015	−0.017%	$7.6M	$10.3M	20x	as long as short
Vest HYPE-PERP	+0.0043%	1h	95.048	+0.018%	—	$190K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0044%	8h	95.000	−0.032%	$339K	$39K	20x	as long as short
SoDEX HYPE-USDlong	+0.0065%	1h	95.031	long leg	$2.1M	$1.9M	10x
edgeX HYPEUSDC	+0.0088%	4h	94.719	−0.329%	$5.0M	$30.9M	30x	as long as short
Lighter HYPE	+0.0096%	1h	95.011	−0.021%	$16.3M	$63.5M	20x	as long as short
Lighter RH HYPEshort	+0.0096%	1h	95.018	−0.014%	$3.2M	$10.3M	20x
Popdex HYPEUSDT	+0.0096%	1h	94.985	−0.048%	$150K	$1.2M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0097%	1h	95.110	+0.083%	$7.5M	$4.4M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.970	−0.064%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.965	−0.069%	$7.3M	$51.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.181	+0.158%	$2.09B	$674.7M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	95.048	+0.017%	$9.0M	$38.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.990	−0.043%	$10.2M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	95.065	+0.036%	$382.2M	$932.5M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.213	−0.860%	$219K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	95.063	+0.034%	$96.8M	$88.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.032	+0.001%	$47.4M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	95.044	+0.014%	—	$52.8M	—	as long as short
Variational Omni HYPE	+0.0100%	8h	95.031	0.000%	$29.8M	$56.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.860	−0.180%	$7.7M	$44.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.780	−0.264%	$355K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.917	−0.120%	$696K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	95.055	+0.025%	$500K	$2.7M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	95.034	+0.003%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.090	+0.062%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.003	−0.029%	$18.3M	$42.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	95.051	+0.021%	$402K	$148K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.927	−0.109%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.170	+0.146%	$31K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	94.979	−0.055%	$83K	$105K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.069	+0.040%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	95.000	−0.033%	$17.3M	$12.4M	75x	as long as short