Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Pacifica against Polymarket Perps+0.027%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$180.181% of the position

Long on Polymarket Perps Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$4 on $10k

Price spread, last 7 days+0.088%+$9 · spread now +0.027%, 7d avg +0.046%

Together, before fees+0.043%+ Points / potential airdropPacifica: Active · farm board+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps HYPE-USD	93.358	0.0100	pay 0.0013% / 1h	42m 51s	$502K	$2.7M	20x
Short	Pacifica HYPE	93.383	0.0100	get 0.0013% / 1h	42m 51s	$10.1M	$15.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.027%Rate

Funding earned: $0
Price spread: +0.027% → +0.046%: −$1.95
Slippage, 4 orders: −$2.08
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$20.03
Costs to cover: 0.181%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; Pacifica: live order book, 1 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, 1 min ago	0.05 bp	4.1 bp −$4	5.3 bp −$53	11.1 bp −$1,115	doesn't fit
Sell Pacifica live order book, 1 min ago	0.21 bp	4.6 bp −$5	doesn't fit	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-P	−0.1808%	1h	93.315	−0.046%	$196K	$232K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0374%	1h	93.489	+0.140%	$22K	$21K	10x	as long as short
Bullet HYPE-USD	−0.0094%	1h	93.330	−0.030%	$111K	$578K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.433	+0.080%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0026%	4h	93.320	−0.041%	$146K	$663K	20x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.364	+0.006%	$87K	$366K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0006%	1h	93.390	+0.034%	$702K	$1.2M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.409	+0.055%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.337	−0.023%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.359	+0.001%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus HYPE-USD	+0.0011%	1h	93.319	−0.042%	$1.0M	$3.9M	10x	as long as short
Bitget HYPEUSDT	+0.0018%	4h	93.334	−0.026%	$225.8M	$98.9M	75x	as long as short
Bybit HYPEUSDT	+0.0023%	8h	93.372	+0.015%	$317.4M	$283.6M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.462	+0.111%	$209K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0033%	8h	93.366	+0.009%	$12.6M	$2.7M	50x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	93.544	+0.199%	$5.0M	$30.0M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0095%	8h	93.414	+0.060%	$340K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.344	−0.015%	$16.1M	$63.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.337	−0.022%	$3.1M	$11.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.333	−0.027%	$77K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.350	−0.009%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.362	+0.004%	$8.0M	$48.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.383	+0.027%	$2.03B	$668.3M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.391	+0.036%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPEshort	+0.0100%	1h	93.383	+0.027%	$10.1M	$15.4M	20x
Binance HYPEUSDT	+0.0100%	4h	93.392	+0.037%	$374.5M	$912.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.388	+0.032%	$114.6M	$309.3M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.614	+0.275%	$204K	$3K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.375	+0.018%	$46.5M	$54.1M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.344	−0.015%	$91.1M	$80.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.361	+0.003%	$46.1M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.394	+0.039%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.386	+0.030%	$7.3M	$10.9M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.419	+0.065%	$28.7M	$56.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.468	+0.118%	$7.5M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.432	+0.079%	$343K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.453	+0.102%	$669K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.410	+0.055%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDlong	+0.0100%	1h	93.358	long leg	$502K	$2.7M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.321	−0.040%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.311	−0.050%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.316	−0.045%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.325	−0.035%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.500	+0.152%	$1.4M	$6.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.328	−0.032%	$18.2M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.321	−0.040%	$395K	$161K	20x	as long as short
Kalshi KXHYPEPERP	+0.0105%	8h	93.414	+0.060%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.330	−0.030%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.440	+0.088%	$4.8M	$5.6M	50x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	93.322	−0.039%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.355	−0.004%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.333	−0.027%	$16.8M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0341%	1h	93.411	+0.056%	$20.8M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0446%	1h	93.427	+0.074%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.412	+0.058%	$3.2M	$6.3M	20x	as long as short