ΔE 18.1, loose: different enough that you should pick on purpose. Light Pink is a little lighter, much more muted than Hot Pink.
Not as a straight swap; see the closer alternatives below. Loose match (ΔE 18). Light Pink is a little lighter, much more muted than Hot Pink.
The same difference applies the other way round: Hot Pink is a little darker, much more saturated.
ΔE is the colour difference between our two swatch estimates: under about 6 is close, over about 15 is loose. Real paints also differ in finish, coverage and how they thin, so test before you commit.
See Hot Pink on the colour wheel See Light Pink on the colour wheel
All matches: Hot Pink equivalents · Light Pink equivalents