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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h +0.002%
Price spread now: Lighter against Polymarket Perps+0.016%7-day average +0.072% · you sell dearer than you buy
Net, funding: paid 7d − costs−$7as in the Funding arb table
Net, price: spread back to 7d avg − costs−$16as in the Price arb table
costs, in and out, $10k−$110.107% of the position
Long on Polymarket PerpsShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 7 days+0.037%+$4 on $10k
Price spread, last 7 days−0.023%−$2 · spread now +0.016%, 7d avg +0.072%
Together, before fees+0.014%+ Points / potential airdropLighter: Season 3 · farm board+$1 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: Lighter is 0.057% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.072%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps HYPE-USD94.0100.0100pay 0.0013% / 1h4m 20s$472K$2.5M20x
ShortLighter HYPE94.0250.0096get 0.0012% / 1h4m 20s$18.9M$60.4M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter 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
−$0.84
Price spread: +0.016% → +0.072%
−$5.68
Slippage, 4 orders
−$2.71
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Lighter: 0 bp × 2 orders
$0
Net
−$17.24
Costs to cover
0.107%
Break-even
never at this rate
Slippage from Polymarket Perps: live order book, 5 min ago; Lighter: live order book, 10 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, 5 min ago0.21 bp4.3 bp −$45.6 bp −$5612.0 bp −$1,203doesn't fit
Sell Lighter live order book, 10 min ago0.82 bp0.9 bp −$13.5 bp −$3514.7 bp −$1,47045.1 bp −$22.5K

HYPE on 55 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−0.1376%1h93.764−0.262%$198K$230K7xas long as short
Aftermath Perps HYPEUSD−0.0359%1h93.910−0.107%$22K$22K10xas long as short
Arcus HYPE-USD−0.0233%1h93.870−0.149%$1.2M$3.8M10xas long as short
Ondo Perps HYPE-USD.P−0.0127%1h93.930−0.085%$704K$923K10xas long as short
01 Exchange HYPEUSD−0.0080%1h93.976−0.036%$86K$368K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.932−0.083%$3K$33125xas long as short
Derive HYPE-PERP−0.0007%1h93.931−0.085%$16.4M$7.2M10xas long as short
Orderly PERP_HYPE_USDC−0.0005%4h93.996−0.015%$170K$593K20xas long as short
dYdX HYPE-USD0.0000%1h93.987−0.025%$128K$30K5xas long as short
Perpl HYPE0.0000%43m93.985−0.026%$23K$329K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h94.016+0.006%$27K—150xas long as short
Phoenix HYPE+0.0009%1h93.978−0.034%$217K$1.2M10xas long as short
Aster HYPEUSDT+0.0014%4h93.985−0.027%$8.9M$36.1M300xas long as short
Bybit HYPEUSDT+0.0019%8h93.980−0.032%$323.5M$284.0M75xas long as short
Phemex HYPEUSDT+0.0038%8h93.826−0.196%$12.8M$2.6M50xas long as short
MEXC HYPE_USDT+0.0046%4h93.989−0.022%$88.4M$82.3M100xas long as short
Binance HYPEUSDT+0.0047%4h93.992−0.019%$384.2M$898.3M75xas long as short
edgeX HYPEUSDC+0.0064%4h93.859−0.160%$5.1M$29.7M30xas long as short
Popdex HYPEUSDT+0.0064%1h93.980−0.032%$60K$1.2M50xas long as short
Gate HYPE_USDT+0.0066%4h93.975−0.037%$44.2M$60.0M75xas long as short
Bullet HYPE-USD+0.0083%1h93.971−0.041%$112K$578K20xas long as short
OKX HYPE-USDT-SWAP+0.0088%8h93.988−0.023%$116.0M$323.0M50xas long as short
Lighter HYPEshort+0.0096%1h94.025+0.016%$18.9M$60.4M20x
Lighter RH HYPE+0.0096%1h93.994−0.017%$3.0M$12.3M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.991−0.020%$400K$318K20xas long as short
Katana Perps HYPE-USD+0.0099%8h93.970−0.043%$36K$1.6M10xas long as short
Paradex HYPE-USD-PERP+0.0099%8h94.014+0.004%$341K$171K20xas long as short
Nado HYPE-PERP+0.0100%1h93.986−0.026%$5.7M$44.4M10xas long as short
Hyperliquid HYPE+0.0100%1h94.071+0.065%$2.05B$679.8M10xas long as short
Pacifica HYPE+0.0100%1h94.005−0.005%$10.1M$14.5M20xas long as short
Bulk HYPE-USD+0.0100%1h93.889−0.129%$205K$7K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.990−0.021%$46.5M$18.6M75xas long as short
Bitget HYPEUSDT+0.0100%4h94.001−0.010%$227.7M$102.2M75xas long as short
BingX HYPE-USDT+0.0100%4h93.985−0.027%—$54.2M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.890−0.128%$7.9M$10.4M20xas long as short
Variational Omni HYPE+0.0100%8h93.812−0.210%$31.3M$54.2M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.967−0.046%$7.6M$45.6M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.849−0.171%$340K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h93.908−0.108%$679K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.987−0.025%—$454K5xas long as short
Polymarket Perps HYPE-USDlong+0.0100%1h94.010long leg$472K$2.5M20x
Bluefin HYPE-PERP+0.0100%1h94.001−0.010%$76K$171K20xas long as short
SunX HYPE-USDT+0.0100%4h93.862−0.157%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.861−0.158%$2.0M$2.0M10xas long as short
Injective HYPE/USDC PERP+0.0104%1h94.410+0.425%$31K$338K12xas long as short
Extended HYPE-USD+0.0104%1h93.962−0.051%$18.3M$42.8M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h93.940−0.074%$4.9M$5.7M50xas long as short
Kalshi KXHYPEPERP+0.0156%8h93.911−0.105%$1.9M$5.0M2.3xas long as short
BloFin HYPE-USDT+0.0187%4h93.859−0.161%$17.0M$12.5M75xas long as short
HTX HYPE-USDT+0.0192%4h94.012+0.002%$1.5M$7.8M75xas long as short
Reya HYPERUSDPERP+0.0250%1h93.978−0.034%$77K$142K15xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0261%1h93.954−0.060%$7.5M$4.6M50xas long as short
RISEx HYPE/USDC+0.0284%1h94.025+0.016%$2.8M$6.8M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0338% / S −0.0163%1h93.856−0.164%$1.4M—100xas long as short
Kraken Futures PF_HYPEUSD+0.0577%1h93.980−0.032%$21.0M$29.5M50xas long as short