HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0175%/8h= −19.2% APRnext payment −$0.22 per $10,000 · paid last 24h −0.006%

Price spread now: Bullet against Polymarket Perps−0.047%7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$280.275% of the position

Long on Polymarket Perps Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.009%+$1 on $10k

Price spread, last 3 days (all we have)+0.053%+$5 · spread now −0.047%, 7d avg +0.010%

Together, before fees+0.061%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bullet is 0.057% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.010%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps HYPE-USD	94.076	0.0100	pay 0.0013% / 1h	14m 59s	$476K	$2.5M	20x
Short	Bullet HYPE-USD	94.032	−0.0075	pay 0.0009% / 1h	14m 59s	$113K	$581K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now −0.047%Rate

Funding earned: −$36.82
Price spread: −0.047% → +0.010%: −$5.69
Slippage, 4 orders: −$11.51
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$70.02
Costs to cover: 0.275%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; Bullet: live order book, 59 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, 4 min ago	1.01 bp	5.4 bp −$5	6.8 bp −$68	15.2 bp −$1,518	doesn't fit
Sell Bullet live order book, 59 min ago	0.27 bp	10.0 bp −$10	14.3 bp −$143	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	−0.1256%	1h	93.810	−0.283%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.914	−0.172%	$1.3M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0197%	1h	93.894	−0.194%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0124%	1h	93.940	−0.145%	$708K	$960K	10x	as long as short
Phemex HYPEUSDT	−0.0123%	8h	94.039	−0.039%	$12.8M	$2.6M	50x	as long as short
dYdX HYPE-USD	−0.0101%	1h	94.003	−0.078%	$129K	$31K	5x	as long as short
01 Exchange HYPEUSD	−0.0088%	1h	94.057	−0.020%	$85K	$361K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.002	−0.079%	$3K	$331	25x	as long as short
Bullet HYPE-USDshort	−0.0075%	1h	94.032	−0.047%	$113K	$581K	20x
Gate HYPE_USDT	−0.0036%	4h	94.051	−0.027%	$44.5M	$60.2M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0027%	4h	94.014	−0.066%	$160K	$646K	20x	as long as short
Bybit HYPEUSDT	−0.0008%	8h	94.047	−0.031%	$323.7M	$280.9M	75x	as long as short
Perpl HYPE	0.0000%	43m	94.034	−0.044%	$23K	$326K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.055	−0.022%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0008%	4h	94.052	−0.026%	$8.9M	$36.2M	300x	as long as short
Derive HYPE-PERP	+0.0017%	1h	93.989	−0.092%	$16.4M	$7.3M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	93.678	−0.423%	$218K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0042%	4h	94.083	+0.007%	$88.7M	$83.2M	100x	as long as short
Binance HYPEUSDT	+0.0045%	4h	94.079	+0.003%	$383.7M	$895.9M	75x	as long as short
edgeX HYPEUSDC	+0.0062%	4h	93.602	−0.503%	$5.1M	$30.1M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0075%	8h	94.067	−0.010%	$116.2M	$317.5M	50x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	94.049	−0.028%	$400K	$180K	20x	as long as short
Lighter HYPE	+0.0096%	1h	94.091	+0.016%	$19.1M	$60.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.083	+0.007%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.042	−0.036%	$65K	$1.2M	50x	as long as short
Bluefin HYPE-PERP	+0.0096%	1h	94.042	−0.036%	$76K	$171K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.057	−0.021%	$342K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.000	−0.081%	$29K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.993	−0.088%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.102	+0.028%	$2.05B	$676.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.034	−0.044%	$10.2M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.528	−0.582%	$204K	$12K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.071	−0.005%	$46.7M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.069	−0.007%	$227.9M	$101.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.057	−0.020%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.064	−0.013%	$7.7M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.810	−0.282%	$31.4M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.614	−0.491%	$7.5M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.656	−0.446%	$339K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.843	−0.248%	$670K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.020	−0.059%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDlong	+0.0100%	1h	94.076	long leg	$476K	$2.5M	20x
SunX HYPE-USDT	+0.0100%	4h	94.142	+0.070%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.076	0.000%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.048	−0.030%	$18.4M	$45.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.060	−0.017%	$4.9M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0181%	4h	94.072	−0.004%	$17.1M	$12.2M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.440%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.061	−0.016%	$2.7M	$6.8M	20x	as long as short
Kalshi KXHYPEPERP	+0.0227%	8h	94.094	+0.019%	$1.9M	$5.1M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0252%	1h	94.045	−0.033%	$79K	$143K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0335% / S −0.0156%	1h	94.060	−0.017%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0379%	4h	94.200	+0.132%	$1.5M	$6.0M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0622%	1h	94.165	+0.095%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0671%	1h	94.160	+0.089%	$21.0M	$29.8M	50x	as long as short