HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h −0.062%

Price spread now: Polymarket Perps against Injective−0.788%7-day average −0.175% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−2.329%−$233 on $10k

Price spread, last 3 days (all we have)+0.977%+$98 · spread now −0.788%, 7d avg −0.175%

Together, before fees−1.351%−$135 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 0.613% cheaper against Injective than usual: you would sell low and buy high, −$61 on $10k if it goes back to its 7-day average of −0.175%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective HYPE/USDC PERP	94.410	0.0104	pay 0.0013% / 1h	28m 58s	$31K	$338K	12x
Short	Polymarket Perps HYPE-USD	93.666	0.0100	get 0.0013% / 1h	28m 58s	$490K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee Polymarket PerpsbpOrdersPrice spread, now −0.788%Rate

Funding earned: −$0.75
Price spread: −0.788% → −0.175%: −$61.3
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$70.07
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Injective: live order book, 50 min ago; Polymarket Perps: live order book, 5 min ago. Net counts fees only.

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 Injective live order book, 50 min ago	9.65 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	0.59 bp	4.7 bp −$5	5.6 bp −$56	10.6 bp −$1,061	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-P	−0.0840%	1h	93.550	−0.910%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0353%	1h	93.784	−0.663%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.554	−0.907%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.647	−0.808%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0059%	1h	93.560	−0.900%	$703K	$910K	10x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.637	−0.819%	$86K	$366K	20x	as long as short
Derive HYPE-PERP	−0.0017%	1h	93.592	−0.866%	$16.4M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.663	−0.792%	$127K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.644	−0.811%	$23K	$329K	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0002%	4h	93.665	−0.789%	$166K	$583K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.690	−0.763%	$26K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	93.687	−0.766%	$214K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0015%	4h	93.656	−0.799%	$8.9M	$36.0M	300x	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.610	−0.847%	$321.7M	$283.3M	75x	as long as short
MEXC HYPE_USDT	+0.0056%	4h	93.634	−0.822%	$87.8M	$81.8M	100x	as long as short
Binance HYPEUSDT	+0.0057%	4h	93.636	−0.819%	$383.1M	$895.4M	75x	as long as short
Phemex HYPEUSDT	+0.0070%	8h	93.676	−0.777%	$12.8M	$2.6M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.817	−0.629%	$5.1M	$29.9M	30x	as long as short
Gate HYPE_USDT	+0.0084%	4h	93.617	−0.840%	$44.5M	$59.1M	75x	as long as short
Lighter HYPE	+0.0096%	1h	93.669	−0.785%	$18.8M	$60.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.665	−0.789%	$3.0M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.655	−0.800%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.669	−0.785%	$398K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.661	−0.794%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.610	−0.847%	$43K	$1.6M	10x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.633	−0.823%	$112K	$578K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.645	−0.810%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.674	−0.780%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.615	−0.842%	$115.3M	$320.0M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.625	−0.832%	$204K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.670	−0.784%	$46.4M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.635	−0.821%	$226.7M	$102.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.615	−0.842%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.648	−0.807%	$7.8M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.564	−0.896%	$31.2M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.632	−0.824%	$7.6M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.819	−0.626%	$341K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.617	−0.840%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.676	−0.777%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	93.666	−0.788%	$490K	$2.4M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.659	−0.795%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.708	−0.744%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.666	−0.788%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERPlong	+0.0104%	1h	94.410	long leg	$31K	$338K	12x
Extended HYPE-USD	+0.0104%	1h	93.609	−0.848%	$18.3M	$42.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0130%	8h	93.726	−0.724%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.690	−0.763%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0217%	4h	93.820	−0.625%	$1.5M	$7.8M	75x	as long as short
BloFin HYPE-USDT	+0.0226%	4h	93.652	−0.803%	$17.0M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.650	−0.805%	$77K	$142K	15x	as long as short
Hyperliquid HYPE	+0.0262%	1h	93.668	−0.786%	$2.03B	$676.2M	10x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.693	−0.760%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0337% / S −0.0163%	1h	93.677	−0.777%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0497%	1h	93.767	−0.681%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0579%	1h	93.759	−0.689%	$20.9M	$29.4M	50x	as long as short