Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0006%/8h= −0.6% APRpaid last 24h −0.005%

Price spread now: edgeX against Polymarket Perps−0.165%64s7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$180.182% of the position

Long on Polymarket Perps Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 7 days+0.236%+$24 · spread now −0.165%, 7d avg +0.015%

Together, before fees+0.286%+ Points / potential airdropedgeX: Active · farm board+$29 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: edgeX is 0.180% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.015%. The two prices were read 64 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps HYPE-USD	92.902	0.0100	pay 0.0013% / 1h	1m 56s	$468K	$2.6M	20x
Short	edgeX HYPEUSDC	92.749	0.0094	get 0.0047% / 4h	1m 56s	$4.9M	$29.6M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.165%Rate

Funding earned: −$1.22
Price spread: −0.165% → +0.015%: −$17.97
Slippage, 4 orders: −$1.18
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$37.37
Costs to cover: 0.182%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; edgeX: live order book, 2 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, 2 min ago	0.27 bp	4.3 bp −$4	5.3 bp −$53	10.6 bp −$1,061	doesn't fit
Sell edgeX live order book, 2 min ago	0.32 bp	4.8 bp −$5	5.0 bp −$50	152.9 bp −$15.3K	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
Arcus HYPE-USD	−0.0948%	1h	92.815	−0.094%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0408%	1h	92.738	−0.177%	$194K	$225K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0271%	1h	92.811	−0.098%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.878	−0.026%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.852	−0.054%	$157K	$653K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.865	−0.040%	$127K	$29K	5x	as long as short
01 Exchange HYPEUSD	0.0000%	1h	92.871	−0.033%	$86K	$361K	20x	as long as short
Perpl HYPE	0.0000%	43m	92.859	−0.046%	$22K	$302K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.880	−0.024%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0025%	8h	92.865	−0.040%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0029%	1h	92.837	−0.070%	$111K	$579K	20x	as long as short
BingX HYPE-USDT	+0.0036%	4h	92.869	−0.036%	—	$53.5M	—	as long as short
Ondo Perps HYPE-USD.P	+0.0038%	1h	92.800	−0.110%	$697K	$1.1M	10x	as long as short
Phoenix HYPE	+0.0043%	1h	92.755	−0.158%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0045%	8h	92.853	−0.053%	$316.7M	$281.2M	75x	as long as short
Aster HYPEUSDT	+0.0066%	4h	92.876	−0.028%	$8.7M	$36.1M	300x	as long as short
Bitget HYPEUSDT	+0.0088%	4h	92.873	−0.031%	$224.8M	$98.7M	75x	as long as short
edgeX HYPEUSDCshort	+0.0094%	4h	92.749	−0.165%	$4.9M	$29.6M	30x
Paradex HYPE-USD-PERP	+0.0095%	8h	92.887	−0.017%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.882	−0.022%	$16.1M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.886	−0.017%	$3.1M	$11.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.859	−0.046%	$69K	$1.1M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0097%	8h	92.866	−0.039%	$113.9M	$303.6M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.850	−0.056%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.856	−0.050%	$7.5M	$45.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.904	+0.002%	$2.02B	$663.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.891	−0.012%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.873	−0.031%	$373.1M	$902.4M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.800	−0.110%	$202K	$13K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	92.862	−0.043%	$44.5M	$55.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.873	−0.031%	$88.2M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.875	−0.029%	$46.1M	$18.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.877	−0.027%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.689	−0.230%	$28.5M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.776	−0.136%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.773	−0.139%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.867	−0.038%	$667K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.900	−0.002%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDlong	+0.0100%	1h	92.902	long leg	$468K	$2.6M	20x
Bluefin HYPE-PERP	+0.0100%	1h	92.867	−0.038%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.838	−0.069%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.839	−0.068%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.882	−0.022%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.000	+0.105%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.840	−0.066%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.850	−0.056%	$393K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	92.960	+0.062%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.920	+0.019%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0226%	8h	92.925	+0.025%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0263%	1h	92.875	−0.029%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.857	−0.049%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0331%	1h	92.962	+0.065%	$7.5M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.933	+0.034%	$20.6M	$30.4M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.869	−0.036%	$16.8M	$11.6M	75x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.915	+0.014%	$3.2M	$6.4M	20x	as long as short