Lighter Robinhoodvs
Hyperliquid
Funding rates, fees, liquidity and airdrop status compared for perpetual-futures traders.
Funding setups between these venues
Across 8 liquid markets shared by Hyperliquid and Lighter Robinhood, no setup covered entry and exit over the past 7 days: the best, $BTC (long Lighter Robinhood, short Hyperliquid), paid 1.6% APR over 7 days, -3.1% after costs.
8 common liquid markets. Ranked by what the setup actually paid over 7 days after entry and exit costs — not by the instantaneous APR.
| Coin | Long | Short | 7d avg | After costs | Holds | Pays back | |
|---|---|---|---|---|---|---|---|
| $BTC | Lighter Robinhood | Hyperliquid | 1.6% now 0.4% | -3.1% | 7% | 20 d | Backtest → |
| $HYPE | Hyperliquid | Lighter Robinhood | 1.6% now -0.4% | -3.1% | 16% | 20 d | Backtest → |
| $XRP | Lighter Robinhood | Hyperliquid | 1.3% now 1.3% | -3.4% | 32% | 25 d | Backtest → |
| $ZEC | Lighter Robinhood | Hyperliquid | 0.5% now 0.4% | -4.2% | 0% | 61 d | Backtest → |
| $ETH | Lighter Robinhood | Hyperliquid | 0.5% now 1.3% | -4.2% | 26% | 73 d | Backtest → |
| $NEAR | Lighter Robinhood | Hyperliquid | 0.4% now 0.4% | -4.3% | 17% | 86 d | Backtest → |
| $SOL | Lighter Robinhood | Hyperliquid | 0.3% now 0.4% | -4.4% | 16% | 106 d | Backtest → |
| $LIT | Lighter Robinhood | Hyperliquid | 0.2% now 3.1% | -4.5% | 9% | 137 d | Backtest → |
“7d avg” is the funding spread the pair actually paid over the last 7 days. “After costs” subtracts taker fees for opening and closing both legs over a 7-day hold. “Holds” is the share of hours the spread kept the same sign and at least 5% APR.
| Lighter Robinhood | Hyperliquid | |
|---|---|---|
| Type | DEX | DEX |
| Taker fee | 0%✓ | 0.045% |
| Maker fee | 0%✓ | 0.015% |
| Open Interest | $212.7M | $11.08B✓ |
| 24h Volume | $688.9M | $5.12B✓ |
| Avg Funding APR | 5.27% | 4.21% |
| Markets | 58 | 177✓ |
| Airdrop / token | Points Active | Listed |
Lighter Robinhood and Hyperliquid are both perpetual-futures venues tracked on ORBIT. On fees, Lighter Robinhood is cheaper (0% vs 0.045% taker). On liquidity, Hyperliquid is deeper with $11.08B open interest, which means less slippage at size.
For a funding-arbitrage trader the practical answer is rarely “one or the other” — you often use both, going long on whichever venue has the lower funding for a given asset and short on the other. Open the Funding Screener to see where Lighter Robinhood and Hyperliquid diverge right now, then verify the pair in the backtester.
How this pair behaves
Of 8 setups between Hyperliquid and Lighter Robinhood with 7 days of payouts, 0 stay positive after entry and exit costs. In a typical setup the spread keeps its sign and at least 5% APR 16% of the hours. Opening and closing both legs costs a median 0.09% of the position, paid back in about 67 days. The instantaneous rate is often higher than the weekly one: pick by the "7d avg" and "After costs" columns, not by the current APR.
Related venue pairs
Frequently asked questions
- Which funding setup between Lighter Robinhood and Hyperliquid pays most?
- Across 8 liquid markets shared by Hyperliquid and Lighter Robinhood, no setup covered entry and exit over the past 7 days: the best, $BTC (long Lighter Robinhood, short Hyperliquid), paid 1.6% APR over 7 days, -3.1% after costs. Ranking is by the 7-day payout after costs, not by the instantaneous APR.
- Is Lighter Robinhood or Hyperliquid cheaper?
- Lighter Robinhood charges 0% taker / 0% maker; Hyperliquid charges 0.045% taker / 0.015% maker. Lighter Robinhood has the lower taker fee, which matters most for funding arbitrage since entries and exits are taker orders.
- Which has deeper liquidity, Lighter Robinhood or Hyperliquid?
- Lighter Robinhood has $212.7M open interest across 58 markets; Hyperliquid has $11.08B across 177. Hyperliquid is deeper, which means lower slippage at size.
- Can I run funding arbitrage between Lighter Robinhood and Hyperliquid?
- Yes — when an asset's funding diverges between the two, go long on the lower-funding venue and short on the higher one. Find live divergences on the ORBIT screener and backtest the exact pair before sizing it.