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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0160%/8h= +17.5% APRnext payment +$0.20 per $10,000 · paid last 24h +0.030%
Price spread now: Lighter RH against 01 Exchange−0.074%53s7-day average −0.019% · 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—prices read too far apart to compare
costs, in and out, $10k−$180.182% of the position
Long on 01 ExchangeShort on Lighter RH
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.036%+$4 on $10k
Price spread, last 4 days (all we have)−0.109%−$11 · spread now −0.074%, 7d avg −0.019%
Together, before fees−0.072%+ Points / potential airdropLighter RH: Points live · farm board−$7 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter RH is 0.054% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.074% now, against its 7-day average of −0.019%). If the spread goes back, that is −$5 on $10k: about 27 hours of funding at the current rate (+$5 a day). At the pace of the last 4 days (+0.036% in total) that is about 5.5 days. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
Long01 Exchange HYPEUSD93.687−0.0064get 0.0008% / 1h48m 41s$86K$372K20x
ShortLighter RH HYPE93.6180.0096get 0.0012% / 1h48m 41s$3.1M$11.1M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter RH against 01 Exchange. 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

Funding earned
$33.6
Price spread: −0.074% → −0.019%
−$5.44
Slippage, 4 orders
−$11.19
Fee 01 Exchange: 3.5 bp × 2 orders
−$7
Fee Lighter RH: 0 bp × 2 orders
$0
Net
$9.97
Costs to cover
0.182%
Break-even
4.9 days
Slippage from 01 Exchange: live order book, 60 min ago; Lighter RH: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy 01 Exchange live order book, 60 min ago0.37 bp6.8 bp −$714.5 bp −$145doesn't fitdoesn't fit
Sell Lighter RH live order book, 5 min ago1.33 bp1.7 bp −$22.4 bp −$2426.5 bp −$2,650doesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1136%1h93.719+0.034%$199K$242K7xas long as short
Aftermath Perps HYPEUSD−0.0248%1h93.846+0.170%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0133%1h93.610−0.082%$706K$1.2M10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.716+0.031%$3K$33125xas long as short
01 Exchange HYPEUSDlong−0.0064%1h93.687long leg$86K$372K20x
Bullet HYPE-USD−0.0053%1h93.613−0.079%$111K$581K20xas long as short
Bluefin HYPE-PERP−0.0029%1h93.599−0.094%$79K$156K20xas long as short
Orderly PERP_HYPE_USDC−0.0019%4h93.600−0.093%$145K$681K20xas long as short
dYdX HYPE-USD0.0000%1h93.622−0.070%$128K$29K5xas long as short
Perpl HYPE0.0000%43m93.679−0.009%$22K$285K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.646−0.044%$63K—150xas long as short
Bybit HYPEUSDT+0.0010%8h93.632−0.059%$316.3M$288.0M75xas long as short
BingX HYPE-USDT+0.0010%4h93.619−0.073%—$53.7M—as long as short
Phoenix HYPE+0.0017%1h93.780+0.099%$210K$1.1M10xas long as short
Bitget HYPEUSDT+0.0040%4h93.634−0.057%$225.5M$99.6M75xas long as short
Phemex HYPEUSDT+0.0071%8h93.624−0.067%$12.8M$2.8M50xas long as short
ApeX Omni HYPEUSDT+0.0074%1h93.801+0.122%$348K$1.0M50xas long as short
Paradex HYPE-USD-PERP+0.0083%8h93.647−0.043%$335K$161K20xas long as short
Arcus HYPE-USD+0.0084%1h93.590−0.104%$1.0M$4.0M10xas long as short
edgeX HYPEUSDC+0.0091%4h93.758+0.076%$5.0M$30.5M30xas long as short
Derive HYPE-PERP+0.0092%1h93.581−0.113%$16.3M$7.4M10xas long as short
Lighter HYPE+0.0096%1h93.613−0.079%$16.1M$63.6M20xas long as short
Lighter RH HYPEshort+0.0096%1h93.618−0.074%$3.1M$11.1M20x
Popdex HYPEUSDT+0.0096%1h93.670−0.018%$78K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h93.600−0.093%$23K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.698+0.012%$7.4M$50.9M10xas long as short
Hyperliquid HYPE+0.0100%1h93.704+0.018%$2.05B$682.6M10xas long as short
Aster HYPEUSDT+0.0100%4h93.666−0.022%$8.9M$37.4M300xas long as short
Pacifica HYPE+0.0100%1h93.670−0.018%$10.1M$15.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.667−0.021%$375.3M$931.2M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.625−0.066%$115.7M$316.1M50xas long as short
Gate HYPE_USDT+0.0100%4h93.644−0.046%$48.4M$54.9M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.675−0.013%$88.9M$83.3M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.667−0.021%$46.3M$18.8M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.611−0.081%$7.2M$10.8M20xas long as short
Variational Omni HYPE+0.0100%8h93.670−0.019%$28.6M$56.1M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.726+0.042%$7.6M$48.1M10xas long as short
StandX HYPE-USD+0.0100%1h93.812+0.133%$679K$2.8M20xas long as short
Vest HYPE-PERP+0.0100%1h93.723+0.039%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.664−0.025%$470K$2.8M20xas long as short
SunX HYPE-USDT+0.0100%4h93.741+0.058%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.598−0.095%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h93.807+0.128%$1.4M$6.7M75xas long as short
Bulk HYPE-USD+0.0100%1h93.731+0.047%$216K$15K10xas long as short
Extended HYPE-USD+0.0104%1h93.595−0.098%$18.2M$43.3M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.622−0.070%$396K$159K20xas long as short
Kalshi KXHYPEPERP+0.0106%8h93.653−0.036%$1.8M$5.6M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0120%1h93.820+0.142%$4.7M$6.1M50xas long as short
Injective HYPE/USDC PERP+0.0205%1h93.670−0.018%$30K$339K12xas long as short
Reya HYPERUSDPERP+0.0271%1h93.602−0.091%$77K$130K15xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0273%1h93.703+0.017%$7.4M$4.2M50xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0333% / S −0.0154%1h93.664−0.025%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.600−0.093%$17.0M$12.2M75xas long as short
Kraken Futures PF_HYPEUSD+0.0415%1h93.673−0.015%$20.9M$29.6M50xas long as short
RISEx HYPE/USDC+0.0559%1h93.644−0.046%$3.2M$6.4M20xas long as short