Funding you earn now, next payment 01:00 UTC−0.0098%/8h= −10.7% APRnext payment −$0.12 per $10,000 · paid last 24h −0.102%
Price spread now: Lighter against Hyperliquid0.000%7-day average −0.114% · you sell dearer than you buy
Net, funding: paid 7d − costs−$58as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$350.346% of the position
Funding, last 7 days−0.236%−$24 on $10k
+Price spread, last 4 days (all we have)−0.105%−$11 · spread now 0.000%, 7d avg −0.114%
=Together, before fees−0.342%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board−$34 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.114% dearer against Hyperliquid than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.114%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.9 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ICP | 3.0624 | 0.0194 | pay 0.0024% / 1h | 8m 15s | $4.7M | $4.9M | 5x |
| Short | Lighter ICP | 3.0624 | 0.0096 | get 0.0012% / 1h | 8m 15s | $171K | $484K | 5x |
Hyperliquid ICP
Lighter ICPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$20.6
- Price spread: 0.000% → −0.114%
- $11.36
- Slippage, 4 orders
- −$25.62
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$43.86
- Costs to cover
- 0.346%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 4 min ago; Lighter: live order book, 57 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 Hyperliquid live order book, 4 min ago | 0.16 bp | 11.9 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 57 min ago | 0.99 bp | 2.2 bp −$2 | 24.2 bp −$242 | doesn't fit | doesn't fit |
ICP on 27 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_ICPUSD | −0.0121% | 1h | 3.0630 | +0.019% | $557K | $600K | 50x | as long as short |
| Variational Omni ICP | −0.0052% | 8h | 3.0570 | −0.176% | $1.1M | $113K | — | as long as short |
| dYdX ICP-USD | 0.0000% | 1h | 3.0581 | −0.142% | $71K | $4K | 5x | as long as short |
| Deribit ICP_USDC-PERPETUAL | 0.0000% | 1h | 3.0588 | −0.118% | $273 | $464 | 50x | as long as short |
| gTrade (Gains Network) ICP/USD | L +0.0006% / S −0.0011% | 1h | 3.0593 | −0.100% | $23K | — | 150x | as long as short |
| Injective ICP/USDC PERP | +0.0033% | 1h | 2.9665 | −3.132% | $202 | $200K | 12x | as long as short |
| Phemex ICPUSDT | +0.0039% | 8h | 3.0560 | −0.209% | $1.8M | $776K | 50x | as long as short |
| Lighter ICPshort | +0.0096% | 1h | 3.0624 | 0.000% | $171K | $484K | 5x | |
| Aster ICPUSDT | +0.0100% | 8h | 3.0610 | −0.047% | $338K | $1.6M | 20x | as long as short |
| Pacifica ICP | +0.0100% | 1h | 3.0590 | −0.111% | $139K | $11K | 5x | as long as short |
Kraken Futures PF_ICPUSD
Variational Omni ICP
dYdX ICP-USD
Deribit ICP_USDC-PERPETUAL
gTrade (Gains Network) ICP/USD
Injective ICP/USDC PERP
Phemex ICPUSDT
Aster ICPUSDT
Pacifica ICPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ICPUSDT | +0.0100% | 8h | 3.0590 | −0.111% | $30.6M | $52.8M | 75x | as long as short |
| Bybit ICPUSDT | +0.0100% | 8h | 3.0560 | −0.209% | $18.1M | $18.5M | 75x | as long as short |
| OKX ICP-USDT-SWAP | +0.0100% | 8h | 3.0560 | −0.209% | $6.2M | $16.8M | 50x | as long as short |
| Gate ICP_USDT | +0.0100% | 8h | 3.0580 | −0.144% | $2.0M | $3.0M | 50x | as long as short |
| MEXC ICP_USDT | +0.0100% | 8h | 3.0580 | −0.144% | $20.1M | $9.7M | 50x | as long as short |
| KuCoin ICPUSDTM | +0.0100% | 8h | 3.0560 | −0.209% | $5.1M | $13.3M | 50x | as long as short |
| Bitget ICPUSDT | +0.0100% | 8h | 3.0590 | −0.111% | $7.2M | $4.8M | 50x | as long as short |
| BingX ICP-USDT | +0.0100% | 8h | 3.0570 | −0.176% | — | $5.8M | — | as long as short |
| edgeX ICPUSDC | +0.0100% | 4h | 3.0599 | −0.083% | $24K | $278K | 10x | as long as short |
| GRVT ICP_USDT_Perp | +0.0100% | 8h | 3.0681 | +0.185% | $582K | $467K | 10x | as long as short |
| SunX ICP-USDT | +0.0100% | 8h | 3.0580 | −0.144% | $1K | $1.8M | 20x | as long as short |
| HTX ICP-USDT | +0.0100% | 8h | 3.0550 | −0.242% | $107K | $239K | 20x | as long as short |
| Extended ICP-USD | +0.0104% | 1h | 3.0593 | −0.103% | $22K | $131K | 10x | as long as short |
| Hyperliquid ICPlong | +0.0194% | 1h | 3.0624 | long leg | $4.7M | $4.9M | 5x | |
| BloFin ICP-USDT | +0.0220% | 8h | 3.0640 | +0.052% | $1.3M | $2.3M | 75x | as long as short |
| Coinbase International ICP-PERP-INTX | +0.0280% | 1h | 3.0680 | +0.183% | $63K | $66K | 50x | as long as short |
| GMX ICP/USD [WBTC.b-USDC] | L +0.0512% / S −0.0480% | 1h | 3.0595 | −0.094% | $38K | — | 100x | as long as short |
Binance ICPUSDT
Bybit ICPUSDT
OKX ICP-USDT-SWAP
Gate ICP_USDT
MEXC ICP_USDT
KuCoin ICPUSDTM
Bitget ICPUSDT
BingX ICP-USDT
edgeX ICPUSDC
GRVT ICP_USDT_Perp
SunX ICP-USDT
HTX ICP-USDT
Extended ICP-USD
BloFin ICP-USDT
Coinbase International ICP-PERP-INTX
GMX ICP/USD [WBTC.b-USDC]