Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.001%
Price spread now: Hyperliquid against Lighter−0.071%7-day average −0.048% · you buy dearer than you sell
Net, funding: paid 7d − costs−$58as in the Funding arb table
Net, price: spread back to 7d avg − costs−$61as in the Price arb table
costs, in and out, $10k−$590.592% of the position
Funding, last 7 days+0.008%+$1 on $10k
+Price spread, last 4 days (all we have)+0.079%+$8 · spread now −0.071%, 7d avg −0.048%
=Together, before fees+0.088%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board+$9 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.023% cheaper against Lighter than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.048%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter PYTH | 0.06347 | 0.0096 | pay 0.0012% / 1h | 44m 28s | $197K | $203K | 5x |
| Short | Hyperliquid PYTH | 0.06342 | 0.0100 | get 0.0013% / 1h | 44m 28s | $1.7M | $1.4M | 5x |
Lighter PYTH
Hyperliquid PYTHFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Lighter. 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
- $0.84
- Price spread: −0.071% → −0.048%
- −$2.31
- Slippage, 4 orders
- −$50.15
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$60.62
- Costs to cover
- 0.592%
- Break-even
- 512.2 days
Slippage from Lighter: live order book, 38 min ago; Hyperliquid: live order book, 6 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 Lighter live order book, 38 min ago | 3.91 bp | 15.6 bp −$16 | 96.4 bp −$964 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 6 min ago | 1.26 bp | 17.7 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
PYTH on 23 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PYTH/USDC PERP | −0.0586% | 1h | 0.06350 | +0.047% | $561 | $180K | 5.5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | −0.0380% | 1h | 0.06348 | +0.016% | $10K | $10K | 10x | as long as short |
| Kraken Futures PF_PYTHUSD | −0.0216% | 1h | 0.06341 | −0.102% | $384K | $240K | 25x | as long as short |
| Gate PYTH_USDT | −0.0118% | 4h | 0.06332 | −0.236% | $1.1M | $464K | 75x | as long as short |
| Bybit PYTHUSDT | −0.0051% | 4h | 0.06339 | −0.126% | $7.4M | $5.0M | 50x | as long as short |
| Binance PYTHUSDT | −0.0016% | 4h | 0.06337 | −0.158% | $9.2M | $15.9M | 75x | as long as short |
| MEXC PYTH_USDT | −0.0012% | 4h | 0.06337 | −0.158% | $9.4M | $2.4M | 125x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06347 | 0.000% | $188K | $19 | 5x | as long as short |
| BloFin PYTH-USDT | +0.0017% | 4h | 0.06337 | −0.158% | $426K | $121K | 75x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0048% | 1h | 0.06431 | +1.323% | $40K | $6K | 25x | as long as short |
Injective PYTH/USDC PERP
Deribit PYTH_USDC-PERPETUAL
Kraken Futures PF_PYTHUSD
Gate PYTH_USDT
Bybit PYTHUSDT
Binance PYTHUSDT
MEXC PYTH_USDT
dYdX PYTH-USD
BloFin PYTH-USDT
Coinbase International PYTH-PERP-INTXShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo PYTH-PERP | +0.0080% | 1h | 0.06340 | −0.110% | $23K | — | 3x | as long as short |
| Lighter PYTHlong | +0.0096% | 1h | 0.06347 | long leg | $197K | $203K | 5x | |
| Paradex PYTH-USD-PERP | +0.0099% | 8h | 0.06334 | −0.207% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTHshort | +0.0100% | 1h | 0.06342 | −0.071% | $1.7M | $1.4M | 5x | |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06345 | −0.033% | $20K | $26K | 10x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06339 | −0.126% | $2.1M | $3.3M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06346 | −0.016% | $1.5M | $312K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06339 | −0.126% | $2.6M | $1.9M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06340 | −0.110% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06345 | −0.031% | $44K | $23K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06342 | −0.085% | $3K | $1K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06339 | −0.126% | — | — | 20x | as long as short |
| Backpack PYTH_USDC_PERP | +0.0424% | 1h | 0.06345 | −0.033% | $38K | $88K | 10x | as long as short |
Aevo PYTH-PERP
Paradex PYTH-USD-PERP
Aster PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP
Backpack PYTH_USDC_PERP