HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0068%/8h= −7.4% APRnext payment −$0.09 per $10,000 · paid last 24h −0.032%

Price spread now: Ondo Perps against Polymarket Perps−0.114%50s7-day average +0.048% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Polymarket Perps Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 7 days+0.190%+$19 · spread now −0.114%, 7d avg +0.048%

Together, before fees+0.098%+ Points / potential airdropOndo Perps: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Ondo Perps is 0.162% 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 +0.048%). Swap the legs. The two prices were read 50 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	93.346	0.0100	pay 0.0013% / 1h	23m 36s	$484K	$2.7M	20x
Short	Ondo Perps HYPE-USD.P	93.240	0.0032	get 0.0004% / 1h	23m 36s	$702K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.114%Rate

Funding earned: −$14.28
Price spread: −0.114% → +0.048%: −$16.16
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$43.44
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: live order book, 5 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 5 min ago	0.75 bp	4.8 bp −$5	5.4 bp −$54	10.7 bp −$1,075	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1424%	1h	93.245	−0.108%	$197K	$237K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0375%	1h	93.237	−0.117%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.266	−0.086%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0065%	1h	93.315	−0.033%	$111K	$581K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0021%	4h	93.316	−0.032%	$145K	$671K	20x	as long as short
01 Exchange HYPEUSD	−0.0008%	1h	93.211	−0.145%	$87K	$365K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.304	−0.045%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.347	+0.001%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.350	+0.004%	$62K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	93.171	−0.187%	$1.0M	$3.9M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget HYPEUSDT	+0.0014%	4h	93.219	−0.136%	$224.9M	$98.9M	75x	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.214	−0.141%	$316.5M	$282.2M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.282	−0.069%	$207K	$1.2M	10x	as long as short
Ondo Perps HYPE-USD.Pshort	+0.0032%	1h	93.240	−0.114%	$702K	$1.2M	10x
Phemex HYPEUSDT	+0.0058%	8h	93.343	−0.003%	$12.7M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	93.101	−0.262%	$4.9M	$29.9M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	93.290	−0.060%	$339K	$157K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.266	−0.086%	$16.1M	$63.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.258	−0.094%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.347	+0.001%	$75K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.190	−0.167%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.284	−0.066%	$8.0M	$48.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.313	−0.035%	$2.03B	$665.4M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.258	−0.094%	$8.7M	$36.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.258	−0.094%	$10.0M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.251	−0.102%	$373.9M	$911.6M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.205	−0.151%	$114.5M	$308.9M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.230	−0.124%	$215K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.234	−0.120%	$46.9M	$54.4M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.235	−0.119%	$90.6M	$81.3M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.259	−0.093%	$46.1M	$18.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.201	−0.155%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.341	−0.005%	$7.1M	$10.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.070	−0.296%	$28.4M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.241	−0.112%	$7.5M	$47.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.095	−0.269%	$341K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.296	−0.054%	$668K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.361	+0.016%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDlong	+0.0100%	1h	93.346	long leg	$484K	$2.7M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.353	+0.007%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.337	−0.009%	$16.1M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.375	+0.031%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.359	+0.014%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.450	+0.111%	$1.4M	$6.5M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.172	−0.187%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.357	+0.012%	$395K	$158K	20x	as long as short
Kalshi KXHYPEPERP	+0.0105%	8h	93.353	+0.007%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.620	+0.294%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.370	+0.026%	$4.6M	$5.8M	50x	as long as short
Reya HYPERUSDPERP	+0.0269%	1h	93.327	−0.020%	$80K	$127K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.336	−0.011%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.269	−0.082%	$16.8M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0341%	1h	93.403	+0.061%	$20.8M	$29.5M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0489%	1h	93.445	+0.106%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.269	−0.082%	$3.2M	$6.2M	20x	as long as short