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Funding arb · Price arb /

HYPE

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 02:00 UTC−0.0005%/8h= −0.5% APRpaid last 24h +0.005%
Price spread now: Paradex against Polymarket Perps−0.024%48s7-day average +0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$150.154% of the position
Long on Polymarket PerpsShort on Paradex
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.020%+$2 on $10k
Price spread, last 4 days (all we have)+0.018%+$2 · spread now −0.024%, 7d avg +0.020%
Together, before fees+0.038%+ Points / potential airdropParadex: Active · farm board+$4 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: Paradex is 0.044% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.020%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps HYPE-USD93.9210.0100pay 0.0013% / 1h24m 35s$474K$2.4M20x
ShortParadex HYPE-USD-PERP93.8980.0095get 0.0095% / 8h6h 24m$341K$164K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Paradex 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
−$0.99
Price spread: −0.024% → +0.020%
−$4.36
Slippage, 4 orders
−$3.41
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Paradex: 2 bp × 2 orders
−$4
Net
−$20.76
Costs to cover
0.154%
Break-even
never at this rate
Slippage from Polymarket Perps: live order book, 4 min ago; Paradex: live order book, 45 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, 4 min ago0.27 bp4.3 bp −$45.5 bp −$5510.5 bp −$1,054doesn't fit
Sell Paradex live order book, 45 min ago1.44 bp3.4 bp −$37.7 bp −$77doesn't fitdoesn't fit

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−0.0968%1h93.788−0.142%$197K$229K7xas long as short
Arcus HYPE-USD−0.0786%1h93.705−0.230%$1.2M$3.8M10xas long as short
Aftermath Perps HYPEUSD−0.0135%1h93.774−0.157%$22K$21K10xas long as short
Phemex HYPEUSDT−0.0129%8h93.855−0.070%$12.7M$2.7M50xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.854−0.071%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0074%1h93.860−0.065%$703K$926K10xas long as short
Orderly PERP_HYPE_USDC−0.0057%4h93.891−0.032%$157K$646K20xas long as short
01 Exchange HYPEUSD−0.0048%1h93.838−0.088%$85K$350K20xas long as short
Backpack HYPE_USDC_PERP−0.0041%1h93.842−0.084%$7.8M$10.3M20xas long as short
Gate HYPE_USDT−0.0028%4h93.824−0.103%$44.4M$55.1M75xas long as short
Show all 54 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX HYPE-USDT−0.0002%4h93.807−0.121%—$53.7M—as long as short
Aster HYPEUSDT−0.0001%4h93.863−0.062%$8.9M$35.9M300xas long as short
dYdX HYPE-USD0.0000%1h93.936+0.016%$129K$31K5xas long as short
Perpl HYPE0.0000%43m93.907−0.015%$22K$326K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.927+0.006%$26K—150xas long as short
Bybit HYPEUSDT+0.0005%8h93.820−0.108%$322.2M$281.3M75xas long as short
Phoenix HYPE+0.0060%1h93.904−0.018%$213K$1.2M10xas long as short
MEXC HYPE_USDT+0.0068%4h93.835−0.092%$87.8M$82.9M100xas long as short
Binance HYPEUSDT+0.0068%4h93.836−0.090%$381.9M$892.4M75xas long as short
OKX HYPE-USDT-SWAP+0.0069%8h93.839−0.087%$115.3M$308.5M50xas long as short
Bullet HYPE-USD+0.0074%1h93.914−0.008%$112K$578K20xas long as short
edgeX HYPEUSDC+0.0079%4h93.907−0.015%$5.1M$29.9M30xas long as short
Paradex HYPE-USD-PERPshort+0.0095%8h93.898−0.024%$341K$164K20x
Lighter HYPE+0.0096%1h93.891−0.032%$16.4M$62.6M20xas long as short
Lighter RH HYPE+0.0096%1h93.886−0.037%$3.1M$11.9M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.822−0.105%$67K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.922+0.001%$400K$177K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.850−0.076%$21K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.862−0.063%$5.7M$45.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.967+0.049%$2.05B$665.5M10xas long as short
Pacifica HYPE+0.0100%1h93.882−0.041%$10.1M$14.7M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.862−0.063%$46.5M$18.1M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.816−0.112%$227.3M$98.6M75xas long as short
Variational Omni HYPE+0.0100%8h93.910−0.012%$31.1M$54.7M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.889−0.034%$7.6M$47.5M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.834−0.093%$339K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.876−0.048%$670K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.922+0.001%—$243K5xas long as short
Polymarket Perps HYPE-USDlong+0.0100%1h93.921long leg$474K$2.4M20x
Bluefin HYPE-PERP+0.0100%1h93.898−0.024%$80K$172K20xas long as short
Derive HYPE-PERP+0.0100%1h93.891−0.032%$16.3M$7.7M10xas long as short
SunX HYPE-USDT+0.0100%4h93.949+0.030%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.904−0.018%$2.0M$1.9M10xas long as short
Bulk HYPE-USD+0.0100%1h93.880−0.044%$204K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.791−0.139%$18.3M$44.3M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0136%1h93.960+0.042%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0137%1h93.760−0.171%$30K$339K12xas long as short
RISEx HYPE/USDC+0.0210%1h93.896−0.026%$3.2M$7.0M20xas long as short
HTX HYPE-USDT+0.0212%4h94.019+0.104%$1.4M$5.9M75xas long as short
Reya HYPERUSDPERP+0.0255%1h93.886−0.038%$80K$140K15xas long as short
Kalshi KXHYPEPERP+0.0274%8h93.918−0.003%$1.9M$4.9M2.3xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0156%1h93.922+0.001%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0495%1h94.008+0.093%$7.5M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0678%1h94.001+0.085%$21.0M$29.8M50xas long as short