STABLE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.004%

Price spread now: Hyperliquid against Lighter−0.632%7-day average −0.108% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.833%+$83 on $10k

Price spread, last 4 days (all we have)+0.597%+$60 · spread now −0.632%, 7d avg −0.108%

Together, before fees+1.430%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board+$143 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 0.524% cheaper against Lighter than usual: you would sell low and buy high, −$52 on $10k if it goes back to its 7-day average of −0.108%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter STABLE	0.02452	0.0096	pay 0.0012% / 1h	42m 31s	$113K	$10K	3x
Short	Hyperliquid STABLE	0.02437	0.0100	get 0.0013% / 1h	42m 31s	$856K	$180K	3x

Funding 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

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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 LighterbpFee HyperliquidbpOrdersPrice spread, now −0.632%Rate

Funding earned: $0.84
Price spread: −0.632% → −0.108%: −$52.42
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$60.58
Costs to cover: 0.090%
Break-even: 511.8 days

Slippage unknown: Lighter: live order book, 42 min ago; Hyperliquid: live order book, 18 min ago. Net counts fees only.

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, 42 min ago	155.35 bp	233.9 bp −$234	317.6 bp −$3,176	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 18 min ago	2.87 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

STABLE on 15 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
BloFin STABLE-USDT	+0.0072%	4h	0.02435	−0.693%	$113K	$10K	75x	as long as short
Lighter STABLElong	+0.0096%	1h	0.02452	long leg	$113K	$10K	3x
Hyperliquid STABLEshort	+0.0100%	1h	0.02437	−0.632%	$856K	$180K	3x
Aster STABLEUSDT	+0.0100%	4h	0.02438	−0.579%	$18K	$9K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02437	−0.612%	$2.5M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02439	−0.530%	$1.5M	$754K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02437	−0.612%	$213K	$425K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02438	−0.571%	$174K	$56K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02436	−0.653%	$582K	$163K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02444	−0.326%	$179K	$27K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02439	−0.530%	$281K	$90K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02439	−0.530%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02441	−0.448%	$143K	$8K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02439	−0.522%	$1K	$924K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02435	−0.703%	$13K	$187K	10x	as long as short