Lighter funding rates

Against Binance, Bybit and Hyperliquid for every market, on one 8-hour basis.

Widest spread

+0.2255%

MU · vs Bybit · books over $1M OI

+246.9% annualised, before fees, borrow and execution

Comparable

197

of 217 Lighter markets

Lighter pays most

markets above every venue

Median · Lighter

+0.0032%

Bin +0.0002%Byb +0.0032%Hyp +0.0100%

Next settlement

Lighter · hourly

--:--:--

as of 10:14:52 UTC

Method

Every rate is on an 8-hour basis — venues that settle hourly or every four hours are normalised by Lighter’s feed, which we checked against each exchange. Positive means longs pay. APR is the 8-hour rate × 3 × 365. A spread is a signal, not a quote.

BinanceBybitHyperliquid

MU0.0000%−0.1813%−0.2255%—+0.2255%vs Bybit$2.11M

SOXL−0.0840%−0.2204%−0.2952%—+0.2112%vs Bybit$1.53M

DRAM−0.0016%−0.1693%−0.2075%—+0.2059%vs Bybit$1.69M

SKHY−0.0056%−0.1257%−0.1546%—+0.1490%vs Bybit$1.89M

SNDK+0.0032%−0.1327%−0.0490%+0.0082%+0.1359%vs Binance$4.42M

MSTR+0.0032%−0.0737%−0.1196%−0.0445%+0.1228%vs Bybit$6.24M

HOOD−0.2264%−0.1580%−0.3441%−0.2737%+0.1177%vs Bybit$6.79M

INTC+0.0032%−0.0932%−0.0674%+0.0050%+0.0964%vs Binance$1.97M

GOOGL+0.0032%−0.0414%−0.0810%+0.0001%+0.0842%vs Bybit$3.63M

CRCL+0.0424%−0.0298%0.0000%+0.1098%+0.0722%vs Binance$1.71M

AERO−0.0512%−0.0096%+0.0100%+0.0100%−0.0612%vs Bybit$1.72M

NVDA−0.0008%−0.0381%−0.0615%−0.0422%+0.0607%vs Bybit$3.33M

QQQ+0.0032%−0.0002%−0.0411%—+0.0443%vs Bybit$7.09M

GRAM+0.0096%−0.0070%−0.0273%+0.0100%+0.0369%vs Bybit$2.36M

AMZN+0.0032%−0.0069%−0.0289%−0.0148%+0.0321%vs Bybit$1.04M

JUP+0.0096%+0.0010%−0.0191%−0.0214%+0.0310%vs Hyperliquid$1.53M

SPCX+0.0032%−0.0014%−0.0258%—+0.0290%vs Bybit$4.82M

TRUMP+0.0096%+0.0100%+0.0100%−0.0181%+0.0277%vs Hyperliquid$1.74M

SPY+0.0032%0.0000%−0.0240%−0.0120%+0.0272%vs Bybit$13.89M

ETHFI+0.0096%−0.0064%+0.0100%−0.0142%+0.0238%vs Hyperliquid$2.43M

LINK−0.0128%+0.0015%+0.0066%+0.0100%−0.0228%vs Hyperliquid$3.52M

AVAX−0.0136%+0.0018%+0.0089%−0.0121%−0.0225%vs Bybit$1.64M

HBAR−0.0104%+0.0100%+0.0100%+0.0100%−0.0204%vs Binance$1.05M

WLFI+0.0096%+0.0100%−0.0103%+0.0100%+0.0199%vs Bybit$2.13M

AAPL+0.0032%0.0000%−0.0145%−0.0068%+0.0177%vs Bybit$1.15M

DOGE+0.0096%+0.0034%−0.0078%+0.0100%+0.0174%vs Bybit$1.05M

XAU+0.0032%0.0000%0.0000%−0.0138%+0.0170%vs Hyperliquid$38.12M

NEAR+0.0096%−0.0024%−0.0073%−0.0052%+0.0169%vs Bybit$14.70M

XPL+0.0096%−0.0059%+0.0015%+0.0100%+0.0155%vs Binance$5.42M

ETH−0.0048%+0.0016%+0.0059%+0.0100%−0.0148%vs Hyperliquid$215.2M

PONS+0.0096%+0.0235%+0.0100%+0.0100%−0.0139%vs Binance$2.51M

EIGEN+0.0096%−0.0037%+0.0100%+0.0100%+0.0133%vs Binance$1.03M

XRP−0.0104%+0.0028%−0.0005%−0.0165%−0.0132%vs Binance$4.61M

ADA−0.0152%−0.0041%−0.0116%−0.0035%−0.0117%vs Hyperliquid$3.77M

SUI+0.0096%−0.0020%+0.0100%+0.0100%+0.0116%vs Binance$1.90M

ONDO+0.0096%−0.0012%+0.0100%+0.0100%+0.0108%vs Binance$1.17M

HYPE+0.0024%−0.0069%−0.0080%+0.0100%+0.0104%vs Bybit$29.79M

BNB+0.0096%+0.0000%+0.0100%+0.0100%+0.0096%vs Binance$4.80M

WLD+0.0096%+0.0005%+0.0022%+0.0018%+0.0091%vs Binance$8.34M

UNI+0.0096%+0.0033%+0.0008%+0.0100%+0.0088%vs Bybit$3.20M

BTC0.0000%+0.0026%+0.0034%−0.0085%+0.0085%vs Hyperliquid$312.4M

PAXG+0.0016%+0.0056%+0.0100%+0.0100%−0.0084%vs Bybit$3.18M

LIT+0.0096%+0.0100%+0.0020%+0.0100%+0.0076%vs Bybit$98.59M

SOL−0.0056%−0.0048%+0.0016%+0.0008%−0.0072%vs Bybit$23.85M

MSFT+0.0032%0.0000%0.0000%−0.0036%+0.0068%vs Hyperliquid$2.29M

ZRO+0.0096%+0.0031%+0.0100%+0.0100%+0.0065%vs Binance$8.23M

LTC+0.0096%+0.0052%+0.0033%+0.0074%+0.0063%vs Bybit$1.53M

PUMP+0.0096%+0.0040%+0.0100%+0.0100%+0.0056%vs Binance$8.82M

ENA+0.0096%+0.0041%+0.0100%+0.0100%+0.0055%vs Binance$5.09M

ASTER+0.0096%+0.0100%+0.0100%+0.0041%+0.0055%vs Hyperliquid$2.11M

TSLA+0.0032%0.0000%−0.0016%+0.0050%+0.0048%vs Bybit$1.54M

XMR+0.0096%+0.0133%+0.0100%+0.0100%−0.0037%vs Binance$4.58M

BRENTOIL+0.0032%0.0000%—+0.0050%+0.0032%vs Binance$22.17M

WTI+0.0032%0.0000%0.0000%+0.0050%+0.0032%vs Binance$18.01M

XAG+0.0032%0.0000%0.0000%+0.0049%+0.0032%vs Binance$10.68M

ANTHROPIC+0.0032%+0.0050%0.0000%—+0.0032%vs Bybit$3.61M

OPENAI+0.0032%+0.0050%0.0000%—+0.0032%vs Bybit$2.58M

NATGAS+0.0032%0.0000%—+0.0050%+0.0032%vs Binance$2.13M

ZEC+0.0096%+0.0076%+0.0100%+0.0100%+0.0020%vs Binance$27.66M

ARB+0.0096%+0.0081%+0.0100%+0.0097%+0.0015%vs Binance$1.62M

TAO+0.0096%+0.0091%+0.0100%+0.0100%+0.0005%vs Binance$1.81M

AAVE+0.0096%+0.0100%+0.0100%+0.0100%−0.0004%vs Binance$7.69M

VVV+0.0096%+0.0100%+0.0100%+0.0100%−0.0004%vs Binance$3.48M

USELESS+0.0096%+0.0100%+0.0100%+0.0100%−0.0004%vs Binance$2.60M

CASHCAT+0.0096%—+0.0100%+0.0100%−0.0004%vs Bybit$1.75M

LDO+0.0096%+0.0100%+0.0094%+0.0100%−0.0004%vs Binance$1.67M

MON+0.0096%+0.0100%+0.0100%+0.0100%−0.0004%vs Binance$1.37M

FARTCOIN+0.0096%+0.0100%+0.0100%+0.0100%−0.0004%vs Binance$1.05M

EURUSD0.0000%—0.0000%0.0000%0.0000%vs Bybit$3.46M

STRC0.0000%0.0000%——0.0000%vs Binance$2.04M

USDJPY0.0000%—0.0000%0.0000%0.0000%vs Bybit$1.21M

71 markets · spread is Lighter minus the venue · highlighted cell marks the venue it is measured against