Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0110%/8h= +12.0% APRpaid last 24h +0.031%

Price spread now: Polymarket Perps against Gate−0.028%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Gate Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 7 days−0.031%−$3 · spread now −0.028%, 7d avg −0.034%

Together, before fees+0.007%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.034%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate HYPE_USDT	93.416	−0.0010	get 0.0005% / 4h	2h 09m	$44.3M	$55.3M	75x
Short	Polymarket Perps HYPE-USD	93.390	0.0100	get 0.0013% / 1h	9m 28s	$475K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Gate. 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 GatebpFee Polymarket PerpsbpOrdersPrice spread, now −0.028%Rate

Funding earned: $23.1
Price spread: −0.028% → −0.034%: $0.65
Slippage, 4 orders: −$9.04
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$8.29
Costs to cover: 0.320%
Break-even: 9.5 days

Slippage from Gate: live order book, 4 min ago; Polymarket Perps: live order book, 4 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 Gate live order book, 4 min ago	0.48 bp	11.5 bp −$11	18.0 bp −$180	33.1 bp −$3,309	55.8 bp −$27.9K
Sell Polymarket Perps live order book, 4 min ago	0.96 bp	5.0 bp −$5	5.2 bp −$52	11.9 bp −$1,192	doesn't fit

HYPE on 54 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
Hibachi HYPE/USDT-P	−0.1096%	1h	93.473	+0.061%	$196K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.299	−0.125%	$1.2M	$3.8M	10x	as long as short
Phemex HYPEUSDT	−0.0097%	8h	93.482	+0.071%	$12.6M	$2.7M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.432	+0.017%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0079%	1h	93.330	−0.092%	$701K	$916K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0056%	4h	93.420	+0.004%	$156K	$646K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0050%	1h	93.650	+0.251%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.368	−0.051%	$85K	$347K	20x	as long as short
Backpack HYPE_USDC_PERP	−0.0011%	1h	93.437	+0.022%	$7.4M	$10.5M	20x	as long as short
Gate HYPE_USDTlong	−0.0010%	4h	93.416	long leg	$44.3M	$55.3M	75x

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	−0.0006%	4h	93.385	−0.033%	$8.8M	$35.8M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.502	+0.092%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.394	−0.024%	$22K	$323K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.367	−0.053%	$26K	—	150x	as long as short
BingX HYPE-USDT	+0.0006%	4h	93.353	−0.067%	—	$53.5M	—	as long as short
Bybit HYPEUSDT	+0.0008%	8h	93.340	−0.081%	$320.4M	$279.3M	75x	as long as short
Phoenix HYPE	+0.0060%	1h	93.484	+0.073%	$210K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0068%	1h	93.338	−0.084%	$111K	$577K	20x	as long as short
MEXC HYPE_USDT	+0.0072%	4h	93.354	−0.066%	$88.2M	$83.4M	100x	as long as short
Binance HYPEUSDT	+0.0073%	4h	93.365	−0.055%	$380.2M	$886.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0074%	8h	93.353	−0.067%	$114.8M	$304.9M	50x	as long as short
edgeX HYPEUSDC	+0.0089%	4h	93.554	+0.148%	$5.0M	$29.9M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.447	+0.033%	$16.3M	$62.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.446	+0.032%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.375	−0.044%	$67K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.467	+0.054%	$398K	$172K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.467	+0.055%	$339K	$164K	20x	as long as short
Derive HYPE-PERP	+0.0099%	1h	93.430	+0.015%	$16.2M	$7.7M	10x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.400	−0.017%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.427	+0.011%	$5.7M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.459	+0.046%	$2.04B	$657.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.440	+0.026%	$10.0M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.760	+0.368%	$204K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.376	−0.043%	$46.2M	$18.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.368	−0.051%	$226.1M	$97.6M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.519	+0.110%	$31.1M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.622	+0.220%	$7.6M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.538	+0.131%	$338K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.514	+0.105%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.449	+0.035%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	93.390	−0.028%	$475K	$2.4M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.438	+0.024%	$79K	$170K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.550	+0.143%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.460	+0.047%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.382	−0.037%	$18.3M	$43.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.590	+0.186%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.490	+0.079%	$30K	$339K	12x	as long as short
HTX HYPE-USDT	+0.0181%	4h	93.650	+0.250%	$1.4M	$5.9M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.450	+0.036%	$3.2M	$6.9M	20x	as long as short
Reya HYPERUSDPERP	+0.0256%	1h	93.364	−0.056%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0284%	8h	93.506	+0.096%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.379	−0.040%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0510%	1h	93.551	+0.145%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0682%	1h	93.549	+0.143%	$20.9M	$29.8M	50x	as long as short