Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Binance against Polymarket Perps−0.022%7-day average +0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$190.185% of the position

Long on Polymarket Perps Short on Binance

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−0.026%−$3 · spread now −0.022%, 7d avg +0.055%

Together, before fees+0.012%+$1 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: Binance is 0.078% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps HYPE-USD	93.325	0.0100	pay 0.0013% / 1h	52m 52s	$493K	$2.6M	20x
Short	Binance HYPEUSDT	93.304	0.0100	get 0.0050% / 4h	2h 52m	$385.8M	$890.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Polymarket 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

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee BinancebpOrdersPrice spread, now −0.022%Rate

Funding earned: $0
Price spread: −0.022% → +0.055%: −$7.75
Slippage, 4 orders: −$0.55
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$26.3
Costs to cover: 0.185%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; Binance: live order book, 6 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 Polymarket Perps live order book, 1 min ago	0.05 bp	4.1 bp −$4	4.9 bp −$49	11.0 bp −$1,096	doesn't fit
Sell Binance live order book, 6 min ago	0.05 bp	5.1 bp −$5	7.5 bp −$75	13.9 bp −$1,389	29.7 bp −$14.8K

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	−0.1312%	1h	93.181	−0.154%	$197K	$235K	7x	as long as short
Ondo Perps HYPE-USD.P	−0.0186%	1h	93.210	−0.123%	$699K	$948K	10x	as long as short
Aftermath Perps HYPEUSD	−0.0107%	1h	93.294	−0.033%	$22K	$22K	10x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	93.290	−0.038%	$89K	$340K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.231	−0.101%	$3K	$331	25x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.247	−0.084%	$127K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.297	−0.030%	$1.9M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.292	−0.035%	$23K	$343K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.343	+0.019%	$20K	—	150x	as long as short
Aster HYPEUSDT	+0.0004%	4h	93.305	−0.022%	$8.9M	$36.3M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	+0.0004%	4h	93.293	−0.034%	$44.1M	$56.2M	75x	as long as short
Bullet HYPE-USD	+0.0023%	1h	93.290	−0.038%	$112K	$583K	20x	as long as short
Derive HYPE-PERP	+0.0029%	1h	93.249	−0.082%	$16.4M	$7.1M	10x	as long as short
Bybit HYPEUSDT	+0.0041%	8h	93.280	−0.048%	$325.3M	$288.3M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.336	+0.012%	$215K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0077%	4h	93.308	−0.018%	$180K	$536K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.352	+0.028%	$18.5M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.319	−0.006%	$3.1M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.275	−0.054%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.300	−0.027%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.275	−0.054%	$6.0M	$44.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.351	+0.028%	$2.03B	$668.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.273	−0.056%	$10.0M	$14.5M	20x	as long as short
Binance HYPEUSDTshort	+0.0100%	4h	93.304	−0.022%	$385.8M	$890.6M	75x
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.315	−0.011%	$114.7M	$316.3M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.246	−0.085%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.386	+0.066%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.286	−0.042%	$92.1M	$81.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.350	+0.027%	$46.3M	$19.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.326	+0.001%	$226.7M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.290	−0.038%	—	$54.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.355	+0.032%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.285	−0.043%	$28.8M	$49.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.383	+0.062%	$7.5M	$46.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.338	+0.014%	$405K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.266	−0.063%	$674K	$2.4M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.331	+0.007%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USDlong	+0.0100%	1h	93.325	long leg	$493K	$2.6M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.295	−0.032%	$76K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.327	+0.002%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.283	−0.045%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.292	−0.035%	$12.7M	$2.6M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.292	−0.035%	$339K	$171K	20x	as long as short
edgeX HYPEUSDC	+0.0101%	4h	93.326	+0.001%	$5.1M	$29.4M	30x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.312	−0.013%	$18.4M	$41.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.294	−0.033%	$397K	$318K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.370	+0.048%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0244%	1h	93.320	−0.005%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.130	−0.209%	$30K	$231K	12x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0165%	1h	93.342	+0.019%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.281	−0.047%	$17.1M	$12.5M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0393%	1h	93.399	+0.079%	$7.4M	$4.6M	50x	as long as short
HTX HYPE-USDT	+0.0412%	4h	93.451	+0.135%	$1.5M	$7.6M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.372	+0.050%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0574%	1h	93.430	+0.112%	$19.2M	$25.8M	50x	as long as short