Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.012%

Price spread now: Bitget against Polymarket Perps−0.017%7-day average +0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$360.364% of the position

Long on Polymarket Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 7 days+0.029%+$3 · spread now −0.017%, 7d avg +0.036%

Together, before fees+0.003%$0 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: Bitget is 0.053% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps HYPE-USD	93.107	0.0100	pay 0.0013% / 1h	55m 56s	$473K	$2.5M	20x
Short	Bitget HYPEUSDT	93.091	0.0100	get 0.0050% / 4h	2h 55m	$225.2M	$100.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.017%Rate

Funding earned: $0
Price spread: −0.017% → +0.036%: −$5.28
Slippage, 4 orders: −$16.35
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$41.63
Costs to cover: 0.364%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Bitget: live order book, 3 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, 3 min ago	5.79 bp	9.8 bp −$10	10.7 bp −$107	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.70 bp	8.7 bp −$9	11.8 bp −$118	doesn't fit	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	−0.1072%	1h	93.170	+0.068%	$196K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	92.960	−0.158%	$1.2M	$3.9M	10x	as long as short
Backpack HYPE_USDC_PERP	−0.0203%	1h	92.991	−0.125%	$7.8M	$10.6M	20x	as long as short
Aftermath Perps HYPEUSD	−0.0184%	1h	93.447	+0.365%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.069	−0.041%	$85K	$360K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.171	+0.069%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0080%	4h	93.053	−0.058%	$44.0M	$53.5M	75x	as long as short
Bluefin HYPE-PERP	−0.0061%	1h	93.080	−0.029%	$79K	$173K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0045%	4h	93.028	−0.085%	$158K	$648K	20x	as long as short
Aster HYPEUSDT	−0.0031%	4h	93.072	−0.038%	$8.9M	$36.2M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	−0.0022%	1h	93.030	−0.083%	$702K	$959K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.198	+0.097%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.105	−0.002%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.065	−0.046%	$25K	—	150x	as long as short
BingX HYPE-USDT	+0.0016%	4h	93.075	−0.034%	—	$54.1M	—	as long as short
Derive HYPE-PERP	+0.0029%	1h	93.013	−0.101%	$16.2M	$7.6M	10x	as long as short
Bybit HYPEUSDT	+0.0029%	8h	93.020	−0.093%	$319.1M	$280.8M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.318	+0.227%	$212K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0040%	4h	93.088	−0.020%	$85.9M	$81.4M	100x	as long as short
Bullet HYPE-USD	+0.0041%	1h	93.023	−0.090%	$112K	$579K	20x	as long as short
Binance HYPEUSDT	+0.0042%	4h	93.059	−0.052%	$378.4M	$901.6M	75x	as long as short
edgeX HYPEUSDC	+0.0061%	4h	93.333	+0.243%	$5.1M	$29.6M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0068%	8h	93.014	−0.100%	$114.8M	$313.3M	50x	as long as short
Phemex HYPEUSDT	+0.0079%	8h	93.112	+0.005%	$12.6M	$2.7M	50x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.071	−0.039%	$396K	$177K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.078	−0.031%	$18.6M	$58.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.081	−0.028%	$3.0M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.060	−0.050%	$64K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0098%	8h	93.172	+0.070%	$338K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.070	−0.040%	$37K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.072	−0.037%	$6.5M	$44.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.104	−0.003%	$2.03B	$673.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.126	+0.020%	$10.0M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.081	−0.028%	$45.9M	$18.4M	75x	as long as short
Bitget HYPEUSDTshort	+0.0100%	4h	93.091	−0.017%	$225.2M	$100.7M	75x
Variational Omni HYPE	+0.0100%	8h	92.991	−0.125%	$30.4M	$54.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.339	+0.250%	$7.5M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.352	+0.263%	$338K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.280	+0.186%	$666K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.159	+0.056%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDlong	+0.0100%	1h	93.107	long leg	$473K	$2.5M	20x
SunX HYPE-USDT	+0.0100%	4h	93.127	+0.021%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.066	−0.044%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.250	+0.154%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.069	−0.041%	$18.3M	$44.7M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.100	−0.008%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.150	+0.046%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0168%	4h	93.171	+0.069%	$17.0M	$12.0M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.112	+0.005%	$2.7M	$6.7M	20x	as long as short
Kalshi KXHYPEPERP	+0.0252%	8h	93.203	+0.103%	$1.9M	$5.2M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0253%	1h	93.075	−0.035%	$79K	$143K	15x	as long as short
HTX HYPE-USDT	+0.0321%	4h	93.251	+0.155%	$1.5M	$6.1M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0158%	1h	93.068	−0.042%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0599%	1h	93.180	+0.078%	$7.4M	$4.7M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.143	+0.038%	$20.8M	$29.9M	50x	as long as short