HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0172%/8h= −18.8% APRnext payment −$0.21 per $10,000 · paid last 24h −0.041%

Price spread now: Polymarket Perps against Reya+0.101%7-day average +0.025% · you sell dearer than you buy

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

Long on Reya Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.030%−$3 on $10k

Price spread, last 4 days (all we have)−0.075%−$8 · spread now +0.101%, 7d avg +0.025%

Together, before fees−0.106%+ Points / potential airdropReya: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.076% dearer against Reya than usual: you sell high and buy low (spread +0.101% now, against its 7-day average of +0.025%): +$8 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 35 hours. At the pace of the last 4 days (−0.030% in total) that is about 8.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya HYPERUSDPERP	94.651	0.0272	pay 0.0034% / 1h	57m 51s	$83K	$121K	15x
Short	Polymarket Perps HYPE-USD	94.746	0.0100	get 0.0013% / 1h	57m 51s	$500K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Reya. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ReyabpFee Polymarket PerpsbpOrdersPrice spread, now +0.101%Rate

Funding earned: −$36.06
Price spread: +0.101% → +0.025%: $7.58
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$42.48
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Polymarket Perps: live order book, 1 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Polymarket Perps live order book, 1 min ago	92.46 bp	1462.4 bp −$1,462	doesn't fit	doesn't fit	doesn't fit

Reya: 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 54 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	−0.1472%	1h	94.558	−0.098%	$207K	$268K	7x	as long as short
Phemex HYPEUSDT	−0.0602%	8h	94.659	+0.009%	$12.9M	$2.9M	50x	as long as short
Bluefin HYPE-PERP	−0.0302%	1h	94.672	+0.023%	$80K	$151K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0238%	1h	94.573	−0.082%	$22K	$20K	10x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.657	+0.007%	$1.0M	$3.5M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.658	+0.008%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	94.726	+0.080%	$87K	$364K	20x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.698	+0.050%	$20.3M	$30.2M	50x	as long as short
Bybit HYPEUSDT	−0.0045%	8h	94.660	+0.010%	$318.0M	$288.7M	75x	as long as short
Gate HYPE_USDT	−0.0040%	4h	94.650	−0.001%	$50.7M	$53.5M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	−0.0031%	1h	94.610	−0.043%	$712K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.657	+0.007%	$147K	$686K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.666	+0.016%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.812	+0.171%	$1.9M	$5.5M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.567	−0.088%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.669	+0.020%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.687	+0.039%	$124K	—	150x	as long as short
Derive HYPE-PERP	+0.0008%	1h	94.543	−0.114%	$16.3M	$7.3M	10x	as long as short
Bitget HYPEUSDT	+0.0014%	4h	94.643	−0.008%	$227.1M	$100.6M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.660	+0.010%	$4.7M	$6.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0048%	8h	94.707	+0.059%	$338K	$154K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0063%	8h	94.665	+0.015%	$117.9M	$327.1M	50x	as long as short
Lighter HYPE	+0.0064%	1h	94.660	+0.010%	$16.2M	$61.6M	20x	as long as short
Vest HYPE-PERP	+0.0076%	1h	94.735	+0.089%	—	$190K	5x	as long as short
edgeX HYPEUSDC	+0.0084%	4h	94.460	−0.201%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.672	+0.023%	$3.2M	$10.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.695	+0.047%	$85K	$1.2M	50x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.674	+0.025%	$7.3M	$53.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.758	+0.114%	$2.08B	$689.9M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.651	0.000%	$8.9M	$37.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.683	+0.034%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.659	+0.009%	$379.6M	$934.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.685	+0.036%	$219K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.643	−0.008%	$93.5M	$84.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.649	−0.002%	$46.9M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.648	−0.003%	—	$53.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.621	−0.031%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.532	−0.125%	$29.7M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.577	−0.078%	$7.6M	$44.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.461	−0.200%	$350K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.580	−0.075%	$695K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	94.746	+0.101%	$500K	$2.8M	20x
Bullet HYPE-USD	+0.0100%	1h	94.687	+0.039%	$112K	$575K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.764	+0.120%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.669	+0.020%	$2.1M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.764	+0.120%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.634	−0.017%	$18.4M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.719	+0.072%	$400K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.709	+0.062%	$3.2M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	94.840	+0.200%	$31K	$339K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0246%	1h	94.764	+0.120%	$7.5M	$4.4M	50x	as long as short
Reya HYPERUSDPERPlong	+0.0272%	1h	94.651	long leg	$83K	$121K	15x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	94.705	+0.057%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.604	−0.049%	$17.1M	$12.4M	75x	as long as short