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Funding arb · Price arb /

HYPE

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 02:00 UTC+0.0578%/8h= +63.3% APRnext payment +$0.72 per $10,000 · paid last 24h +0.013%
Price spread now: Kraken Futures against Polymarket Perps+0.059%7-day average +0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$250.252% of the position
Long on Polymarket PerpsShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.128%+$13 on $10k
Price spread, last 3 days (all we have)−0.068%−$7 · spread now +0.059%, 7d avg +0.040%
Together, before fees+0.060%+$6 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.040%, so right now this pair is about funding alone: +$17 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.128% in total (about 6.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.72 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps HYPE-USD93.9740.0100pay 0.0013% / 1h26m 13s$475K$2.4M20x
ShortKraken Futures PF_HYPEUSD94.0300.0678get 0.0085% / 1h26m 13s$21.0M$29.8M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures 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

Funding earned
$121.43
Price spread: +0.059% → +0.040%
$1.94
Slippage, 4 orders
−$7.24
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$98.14
Costs to cover
0.252%
Break-even
1.3 days
Slippage from Polymarket Perps: live order book, 3 min ago; Kraken Futures: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Polymarket Perps live order book, 3 min ago0.27 bp4.3 bp −$45.5 bp −$5510.5 bp −$1,054doesn't fit
Sell Kraken Futures live order book, 3 min ago1.44 bp6.5 bp −$68.5 bp −$8516.5 bp −$1,646397.2 bp −$198.6K

HYPE on 54 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.0920%1h93.818−0.166%$197K$229K7xas long as short
Arcus HYPE-USD−0.0786%1h93.821−0.163%$1.2M$3.8M10xas long as short
Phemex HYPEUSDT−0.0142%8h93.889−0.090%$12.7M$2.7M50xas long as short
Aftermath Perps HYPEUSD−0.0134%1h93.748−0.241%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0081%1h93.860−0.121%$703K$937K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.872−0.109%$3K$33125xas long as short
Orderly PERP_HYPE_USDC−0.0057%4h93.919−0.059%$157K$646K20xas long as short
01 Exchange HYPEUSD−0.0048%1h93.946−0.030%$85K$350K20xas long as short
Backpack HYPE_USDC_PERP−0.0042%1h93.896−0.083%$7.8M$10.3M20xas long as short
Gate HYPE_USDT−0.0030%4h93.955−0.020%$44.5M$55.0M75xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX HYPE-USDT−0.0002%4h93.920−0.057%—$53.7M—as long as short
Aster HYPEUSDT−0.0001%4h93.945−0.030%$8.9M$35.9M300xas long as short
dYdX HYPE-USD0.0000%1h93.869−0.112%$129K$31K5xas long as short
Perpl HYPE0.0000%43m93.962−0.013%$22K$326K10xas long as short
Bybit HYPEUSDT+0.0002%8h93.920−0.057%$322.5M$281.2M75xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.969−0.006%$26K—150xas long as short
Phoenix HYPE+0.0060%1h93.904−0.074%$211K$1.2M10xas long as short
MEXC HYPE_USDT+0.0066%4h93.933−0.044%$87.9M$82.9M100xas long as short
Binance HYPEUSDT+0.0068%4h93.939−0.037%$382.4M$893.7M75xas long as short
OKX HYPE-USDT-SWAP+0.0068%8h93.929−0.048%$115.5M$309.3M50xas long as short
edgeX HYPEUSDC+0.0071%4h93.800−0.185%$5.1M$29.9M30xas long as short
Bullet HYPE-USD+0.0072%1h93.934−0.043%$112K$578K20xas long as short
Paradex HYPE-USD-PERP+0.0095%8h93.955−0.020%$341K$164K20xas long as short
Lighter HYPE+0.0096%1h93.962−0.013%$16.4M$62.5M20xas long as short
Lighter RH HYPE+0.0096%1h93.956−0.019%$3.1M$11.9M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.928−0.049%$67K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.961−0.014%$400K$177K20xas long as short
Derive HYPE-PERP+0.0100%1h93.923−0.055%$16.3M$7.7M10xas long as short
Katana Perps HYPE-USD+0.0100%8h93.930−0.047%$21K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.904−0.074%$5.8M$45.1M10xas long as short
Hyperliquid HYPE+0.0100%1h94.057+0.088%$2.05B$672.5M10xas long as short
Pacifica HYPE+0.0100%1h93.919−0.059%$10.1M$14.7M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.960−0.015%$46.5M$18.1M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.912−0.066%$227.6M$98.6M75xas long as short
Variational Omni HYPE+0.0100%8h93.910−0.069%$31.1M$54.7M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.824−0.160%$7.6M$47.7M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.834−0.149%$339K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.938−0.038%$670K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.981+0.008%—$243K5xas long as short
Polymarket Perps HYPE-USDlong+0.0100%1h93.974long leg$475K$2.4M20x
Bluefin HYPE-PERP+0.0100%1h93.920−0.057%$80K$172K20xas long as short
SunX HYPE-USDT+0.0100%4h94.020+0.049%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.936−0.040%$2.0M$1.9M10xas long as short
Bulk HYPE-USD+0.0100%1h93.880−0.100%$204K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.913−0.065%$18.3M$44.3M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.920−0.057%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.920−0.057%$31K$339K12xas long as short
RISEx HYPE/USDC+0.0210%1h93.994+0.021%$3.2M$7.0M20xas long as short
HTX HYPE-USDT+0.0218%4h94.100+0.134%$1.4M$5.9M75xas long as short
Reya HYPERUSDPERP+0.0255%1h93.947−0.029%$80K$140K15xas long as short
Kalshi KXHYPEPERP+0.0273%8h94.001+0.029%$1.9M$4.9M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0156%1h93.969−0.005%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0442%1h94.042+0.072%$7.5M$4.5M50xas long as short
Kraken Futures PF_HYPEUSDshort+0.0678%1h94.030+0.059%$21.0M$29.8M50x