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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0344%/8h= +37.7% APRnext payment +$0.43 per $10,000 · paid last 24h +0.017%
Price spread now: Polymarket Perps against Ondo Perps+0.167%7-day average −0.043% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Ondo PerpsShort on Polymarket Perps
What this pair did over the last
the charts below follow
Funding, last 7 days+0.064%+$6 on $10k
Price spread, last 7 days+0.015%+$1 · spread now +0.167%, 7d avg −0.043%
Together, before fees+0.079%+ Points / potential airdropOndo Perps: Active · farm board+$8 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Polymarket Perps is 0.210% dearer against Ondo Perps than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of −0.043%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.064% in total (about 3.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.43 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOndo Perps HYPE-USD.P93.370−0.0244get 0.0030% / 1h33m 42s$701K$940K10x
ShortPolymarket Perps HYPE-USD93.5260.0100get 0.0013% / 1h33m 42s$494K$2.6M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Ondo Perps. 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

Funding earned
$72.24
Price spread: +0.167% → −0.043%
$21.01
Slippage, 4 orders
no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders
−$5
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Net
$80.25
Costs to cover
0.130%
Break-even
from the start
Slippage unknown: Ondo Perps: no order-book sample; 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
LegHalf-spread$10k$100k$1M$5M
Buy Ondo Perps no order-book sample—————
Sell Polymarket Perps live order book, 5 min ago0.38 bp4.9 bp −$56.4 bp −$6411.6 bp −$1,159doesn't fit
Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1104%1h93.433+0.068%$197K$233K7xas long as short
Aftermath Perps HYPEUSD−0.0265%1h93.465+0.102%$22K$22K10xas long as short
Ondo Perps HYPE-USD.Plong−0.0244%1h93.370long leg$701K$940K10x
01 Exchange HYPEUSD−0.0080%1h93.536+0.178%$89K$348K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.510+0.150%$3K$33125xas long as short
Bullet HYPE-USD−0.0028%1h93.471+0.108%$112K$583K20xas long as short
Derive HYPE-PERP−0.0003%1h93.441+0.076%$16.4M$7.1M10xas long as short
dYdX HYPE-USD0.0000%1h93.563+0.207%$127K$32K5xas long as short
Perpl HYPE0.0000%43m93.565+0.209%$23K$337K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h93.528+0.169%$20K—150xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0017%4h93.529+0.170%$9.0M$35.8M300xas long as short
Gate HYPE_USDT+0.0028%4h93.481+0.119%$44.1M$56.5M75xas long as short
Bybit HYPEUSDT+0.0037%8h93.550+0.193%$325.9M$287.3M75xas long as short
Phoenix HYPE+0.0068%1h93.464+0.101%$216K$1.2M10xas long as short
Orderly PERP_HYPE_USDC+0.0070%4h93.501+0.140%$180K$529K20xas long as short
Popdex HYPEUSDT+0.0080%1h93.505+0.145%$57K$1.2M50xas long as short
Lighter HYPE+0.0096%1h93.568+0.212%$18.6M$59.5M20xas long as short
Lighter RH HYPE+0.0096%1h93.539+0.181%$3.1M$12.3M20xas long as short
Paradex HYPE-USD-PERP+0.0100%8h93.578+0.222%$340K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.470+0.107%$40K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.503+0.143%$6.0M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.576+0.221%$2.04B$668.2M10xas long as short
Pacifica HYPE+0.0100%1h93.574+0.218%$10.0M$14.4M20xas long as short
Binance HYPEUSDT+0.0100%4h93.559+0.202%$385.8M$888.1M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.550+0.193%$114.9M$315.7M50xas long as short
Arcus HYPE-USD+0.0100%1h93.488+0.126%$1.2M$4.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.403+0.035%$204K$12K10xas long as short
MEXC HYPE_USDT+0.0100%4h93.555+0.198%$92.8M$82.1M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.499+0.138%$46.4M$18.9M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.536+0.178%$227.2M$102.2M75xas long as short
BingX HYPE-USDT+0.0100%4h93.474+0.111%—$54.2M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.515+0.155%$7.9M$11.7M20xas long as short
Variational Omni HYPE+0.0100%8h93.402+0.034%$28.9M$49.8M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.494+0.133%$7.5M$45.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.482+0.120%$406K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.503+0.142%$676K$2.4M20xas long as short
Vest HYPE-PERP+0.0100%1h93.530+0.171%—$454K5xas long as short
Polymarket Perps HYPE-USDshort+0.0100%1h93.526+0.167%$494K$2.6M20x
Bluefin HYPE-PERP+0.0100%1h93.495+0.134%$76K$168K20xas long as short
SunX HYPE-USDT+0.0100%4h93.552+0.195%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.487+0.125%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.474+0.111%$12.7M$2.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.472+0.109%$18.4M$41.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.517+0.157%$398K$318K20xas long as short
edgeX HYPEUSDC+0.0113%4h93.336−0.036%$5.1M$29.5M30xas long as short
Kalshi KXHYPEPERP+0.0119%8h93.583+0.228%$1.9M$5.3M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0208%1h93.400+0.032%$4.9M$5.7M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0242%1h93.592+0.238%$7.4M$4.6M50xas long as short
Reya HYPERUSDPERP+0.0245%1h93.494+0.132%$78K$158K15xas long as short
Injective HYPE/USDC PERP+0.0285%1h93.350−0.021%$30K$231K12xas long as short
HTX HYPE-USDT+0.0335%4h93.662+0.313%$1.5M$7.6M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0338% / S −0.0164%1h93.526+0.168%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.449+0.085%$17.1M$12.5M75xas long as short
RISEx HYPE/USDC+0.0467%1h93.576+0.220%$2.8M$6.8M20xas long as short
Kraken Futures PF_HYPEUSD+0.0573%1h93.581+0.226%$19.2M$25.9M50xas long as short