HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0692%/8h= −75.8% APRnext payment −$0.86 per $10,000 · paid last 24h −0.244%

Price spread now: Hibachi against Polymarket Perps−0.237%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$229as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$650.652% of the position

Long on Polymarket Perps Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−1.634%−$163 on $10k

Price spread, last 4 days (all we have)+0.171%+$17 · spread now −0.237%, 7d avg −0.076%

Together, before fees−1.463%+ Points / potential airdropHibachi: Active · farm board−$146 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Hibachi is 0.161% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.076%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps HYPE-USD	93.053	0.0100	pay 0.0013% / 1h	51m 51s	$469K	$2.6M	20x
Short	Hibachi HYPE/USDT-P	92.832	−0.0592	pay 0.0074% / 1h	51m 51s	$194K	$229K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now −0.237%Rate

Funding earned: −$145.32
Price spread: −0.237% → −0.076%: −$16.12
Slippage, 4 orders: −$48.17
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$226.61
Costs to cover: 0.652%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 7 min ago; Hibachi: 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, 7 min ago	0.11 bp	4.1 bp −$4	5.8 bp −$58	11.0 bp −$1,103	doesn't fit
Sell Hibachi live order book, 2 min ago	9.25 bp	13.8 bp −$14	37.0 bp −$370	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-Pshort	−0.0592%	1h	92.832	−0.237%	$194K	$229K	7x
Aftermath Perps HYPEUSD	−0.0268%	1h	92.881	−0.185%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.978	−0.081%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.986	−0.072%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0062%	4h	92.967	−0.092%	$158K	$659K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.023	−0.033%	$128K	$29K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.064	+0.012%	$1.8M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.022	−0.034%	$22K	$301K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.036	−0.018%	$62K	—	150x	as long as short
Gate HYPE_USDT	+0.0012%	4h	93.010	−0.046%	$44.7M	$53.7M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix HYPE	+0.0026%	1h	92.888	−0.177%	$210K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0037%	8h	92.987	−0.071%	$12.6M	$2.7M	50x	as long as short
Bybit HYPEUSDT	+0.0037%	8h	93.000	−0.057%	$316.3M	$282.3M	75x	as long as short
01 Exchange HYPEUSD	+0.0064%	1h	93.044	−0.010%	$87K	$362K	20x	as long as short
Ondo Perps HYPE-USD.P	+0.0070%	1h	92.920	−0.143%	$697K	$1.1M	10x	as long as short
Bullet HYPE-USD	+0.0079%	1h	93.023	−0.032%	$112K	$578K	20x	as long as short
Bitget HYPEUSDT	+0.0080%	4h	93.006	−0.051%	$225.3M	$99.0M	75x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	92.806	−0.265%	$4.9M	$29.6M	30x	as long as short
Aster HYPEUSDT	+0.0082%	4h	93.027	−0.028%	$8.7M	$36.2M	300x	as long as short
Lighter HYPE	+0.0096%	1h	93.013	−0.042%	$16.1M	$62.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.011	−0.045%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.009	−0.047%	$70K	$1.1M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.031	−0.024%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.990	−0.068%	$39K	$1.7M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0099%	8h	93.019	−0.037%	$114.0M	$305.0M	50x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.975	−0.084%	$7.5M	$45.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.053	0.000%	$2.03B	$664.9M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.041	−0.013%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.015	−0.041%	$374.1M	$904.0M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.942	−0.120%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.009	−0.047%	$87.9M	$79.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.000	−0.057%	$46.2M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.007	−0.049%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.012	−0.044%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.709	−0.370%	$28.4M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.766	−0.308%	$7.5M	$46.3M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.797	−0.275%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.967	−0.092%	$668K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.058	+0.005%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDlong	+0.0100%	1h	93.053	long leg	$469K	$2.6M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.010	−0.046%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.000	−0.057%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.003	−0.054%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.010	−0.046%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.983	−0.075%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.013	−0.043%	$393K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.060	+0.008%	$4.7M	$5.6M	50x	as long as short
HTX HYPE-USDT	+0.0158%	4h	93.145	+0.099%	$1.4M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	93.079	+0.028%	$20.6M	$30.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.750	−0.326%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0264%	1h	93.017	−0.039%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	93.029	−0.025%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.994	−0.063%	$16.8M	$11.7M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0449%	1h	93.108	+0.059%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	93.074	+0.023%	$3.2M	$6.4M	20x	as long as short