Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.012%

Price spread now: Polymarket Perps against Bitget−0.121%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$260.263% of the position

Long on Bitget Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 7 days+0.027%+$3 · spread now −0.121%, 7d avg −0.037%

Together, before fees+0.052%+$5 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: Polymarket Perps is 0.084% cheaper against Bitget than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget HYPEUSDT	92.733	0.0100	pay 0.0050% / 4h	30m 55s	$224.9M	$98.4M	75x
Short	Polymarket Perps HYPE-USD	92.621	0.0100	get 0.0013% / 1h	30m 55s	$472K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 BitgetbpFee Polymarket PerpsbpOrdersPrice spread, now −0.121%Rate

Funding earned: $0
Price spread: −0.121% → −0.037%: −$8.39
Slippage, 4 orders: −$6.31
Fee Bitget: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$34.7
Costs to cover: 0.263%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Polymarket Perps: live order book, 3 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 Bitget live order book, 3 min ago	0.05 bp	8.4 bp −$8	13.7 bp −$137	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	0.49 bp	4.5 bp −$4	4.8 bp −$48	11.7 bp −$1,169	doesn't fit

HYPE on 55 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
Arcus HYPE-USD	−0.0948%	1h	92.530	−0.219%	$1.0M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0304%	1h	92.464	−0.290%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0184%	1h	92.406	−0.352%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.545	−0.203%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0066%	4h	92.571	−0.175%	$157K	$664K	20x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	92.645	−0.095%	$87K	$356K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0001%	1h	92.480	−0.273%	$696K	$1.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.615	−0.127%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.612	−0.131%	$22K	$309K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.611	−0.132%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0005%	1h	92.607	−0.136%	$111K	$580K	20x	as long as short
Aster HYPEUSDT	+0.0018%	4h	92.667	−0.071%	$8.7M	$36.3M	300x	as long as short
BingX HYPE-USDT	+0.0036%	4h	92.690	−0.046%	—	$53.4M	—	as long as short
Phemex HYPEUSDT	+0.0040%	8h	92.580	−0.165%	$12.5M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0043%	1h	92.278	−0.491%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0054%	8h	92.673	−0.065%	$316.7M	$281.9M	75x	as long as short
Gate HYPE_USDT	+0.0070%	4h	92.683	−0.054%	$44.5M	$55.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0082%	8h	92.709	−0.026%	$113.5M	$304.4M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.654	−0.086%	$339K	$163K	20x	as long as short
MEXC HYPE_USDT	+0.0094%	4h	92.684	−0.053%	$87.5M	$80.7M	100x	as long as short
Lighter HYPE	+0.0096%	1h	92.615	−0.128%	$16.0M	$62.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.621	−0.121%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.605	−0.138%	$69K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.570	−0.176%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.612	−0.130%	$6.8M	$44.2M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.652	−0.087%	$2.02B	$665.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.648	−0.092%	$10.0M	$15.0M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.680	−0.057%	$371.6M	$903.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.298	−0.469%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.640	−0.100%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDTlong	+0.0100%	4h	92.733	long leg	$224.9M	$98.4M	75x
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.626	−0.115%	$7.3M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.569	−0.177%	$28.5M	$57.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.290	−0.478%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.436	−0.320%	$338K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.553	−0.194%	$663K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.634	−0.107%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	92.621	−0.121%	$472K	$2.6M	20x
Bluefin HYPE-PERP	+0.0100%	1h	92.585	−0.160%	$78K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.577	−0.168%	$16.0M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.586	−0.159%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.615	−0.127%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.700	−0.036%	$1.4M	$6.2M	75x	as long as short
edgeX HYPEUSDC	+0.0103%	4h	92.227	−0.545%	$4.9M	$29.6M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.648	−0.092%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.594	−0.150%	$391K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.288%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.680	−0.057%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0248%	8h	92.705	−0.030%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.597	−0.147%	$79K	$137K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.609	−0.134%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.665	−0.074%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.607	−0.136%	$16.7M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0430%	1h	92.693	−0.043%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.676	−0.061%	$3.1M	$6.4M	20x	as long as short