HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0692%/8h= +75.8% APRnext payment +$0.86 per $10,000 · paid last 24h +0.244%

Price spread now: Polymarket Perps against Hibachi+0.238%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs+$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$650.652% of the position

Long on Hibachi Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+1.634%+$163 on $10k

Price spread, last 4 days (all we have)−0.172%−$17 · spread now +0.238%, 7d avg +0.076%

Together, before fees+1.462%+ Points / potential airdropHibachi: Active · farm board+$146 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Polymarket Perps is 0.162% dearer against Hibachi than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi HYPE/USDT-P	92.832	−0.0592	get 0.0074% / 1h	51m 49s	$194K	$229K	7x
Short	Polymarket Perps HYPE-USD	93.053	0.0100	get 0.0013% / 1h	51m 49s	$469K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Hibachi. 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 HibachibpFee Polymarket PerpsbpOrdersPrice spread, now +0.238%Rate

Funding earned: $145.32
Price spread: +0.238% → +0.076%: $16.18
Slippage, 4 orders: −$48.17
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $96.32
Costs to cover: 0.652%
Break-even: 2.4 days

Slippage from Hibachi: live order book, 2 min ago; Polymarket Perps: live order book, 7 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 Hibachi live order book, 2 min ago	9.25 bp	43.2 bp −$43	60.9 bp −$609	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 7 min ago	0.11 bp	4.1 bp −$4	4.8 bp −$48	11.4 bp −$1,139	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
Hibachi HYPE/USDT-Plong	−0.0592%	1h	92.832	long leg	$194K	$229K	7x
Aftermath Perps HYPEUSD	−0.0268%	1h	92.881	+0.052%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.978	+0.157%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.986	+0.165%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0062%	4h	92.967	+0.145%	$158K	$659K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.023	+0.205%	$128K	$29K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.064	+0.249%	$1.8M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.022	+0.204%	$22K	$301K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.036	+0.219%	$62K	—	150x	as long as short
Gate HYPE_USDT	+0.0012%	4h	93.010	+0.191%	$44.7M	$53.7M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0026%	1h	92.888	+0.060%	$210K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0037%	8h	92.987	+0.166%	$12.6M	$2.7M	50x	as long as short
Bybit HYPEUSDT	+0.0037%	8h	92.999	+0.179%	$316.3M	$282.3M	75x	as long as short
01 Exchange HYPEUSD	+0.0064%	1h	93.044	+0.228%	$87K	$362K	20x	as long as short
Ondo Perps HYPE-USD.P	+0.0070%	1h	92.920	+0.094%	$697K	$1.1M	10x	as long as short
Bullet HYPE-USD	+0.0079%	1h	93.023	+0.206%	$112K	$578K	20x	as long as short
Bitget HYPEUSDT	+0.0080%	4h	93.007	+0.188%	$225.3M	$99.0M	75x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	92.806	−0.028%	$4.9M	$29.6M	30x	as long as short
Aster HYPEUSDT	+0.0087%	4h	93.040	+0.224%	$8.7M	$36.2M	300x	as long as short
Lighter HYPE	+0.0096%	1h	93.025	+0.208%	$16.1M	$62.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.030	+0.213%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.009	+0.190%	$70K	$1.1M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.042	+0.225%	$340K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.990	+0.170%	$39K	$1.7M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0099%	8h	93.015	+0.197%	$114.0M	$305.0M	50x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.975	+0.153%	$7.5M	$45.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.056	+0.241%	$2.03B	$664.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.045	+0.229%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.013	+0.195%	$374.1M	$903.8M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.942	+0.118%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.009	+0.190%	$87.9M	$79.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.000	+0.180%	$46.2M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.007	+0.188%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.012	+0.193%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.709	−0.133%	$28.4M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.766	−0.071%	$7.5M	$46.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.797	−0.038%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.967	+0.145%	$668K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.058	+0.242%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	93.053	+0.238%	$469K	$2.6M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.010	+0.191%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.000	+0.181%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.003	+0.184%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.010	+0.191%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.983	+0.163%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.013	+0.194%	$393K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.060	+0.245%	$4.7M	$5.6M	50x	as long as short
HTX HYPE-USDT	+0.0158%	4h	93.145	+0.337%	$1.4M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	93.079	+0.265%	$20.6M	$30.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.750	−0.089%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0264%	1h	93.017	+0.198%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	93.029	+0.212%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.994	+0.174%	$16.8M	$11.7M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0449%	1h	93.108	+0.297%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	93.074	+0.260%	$3.2M	$6.4M	20x	as long as short