Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Polymarket Perps against SoDEX+0.004%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$220.223% of the position

Long on SoDEX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.020%−$2 on $10k

Price spread, last 4 days (all we have)+0.237%+$24 · spread now +0.004%, 7d avg 0.000%

Together, before fees+0.218%+$22 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX HYPE-USD	93.385	0.0100	pay 0.0013% / 1h	34m 15s	$2.0M	$1.9M	10x
Short	Polymarket Perps HYPE-USD	93.389	0.0100	get 0.0013% / 1h	34m 15s	$472K	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against SoDEX. 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 SoDEXbpFee Polymarket PerpsbpOrdersPrice spread, now +0.004%Rate

Funding earned: $0
Price spread: +0.004% → 0.000%: $0.42
Slippage, 4 orders: −$6.32
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$21.9
Costs to cover: 0.223%
Break-even: never at this rate

Slippage from SoDEX: live order book, 5 min ago; Polymarket Perps: live order book, 5 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 SoDEX live order book, 5 min ago	0.05 bp	6.9 bp −$7	12.6 bp −$126	99.8 bp −$9,978	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	0.21 bp	4.2 bp −$4	5.3 bp −$53	11.7 bp −$1,170	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	−0.1288%	1h	93.317	−0.072%	$196K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.210	−0.187%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0110%	1h	93.330	−0.059%	$699K	$982K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.329	−0.060%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0058%	1h	93.385	0.000%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.370	−0.016%	$85K	$344K	20x	as long as short
Phemex HYPEUSDT	−0.0052%	8h	93.379	−0.006%	$12.6M	$2.7M	50x	as long as short
Orderly PERP_HYPE_USDC	−0.0044%	4h	93.346	−0.042%	$154K	$642K	20x	as long as short
Bullet HYPE-USD	−0.0006%	1h	93.348	−0.040%	$111K	$578K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.361	−0.026%	$128K	$31K	5x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.362	−0.025%	$23K	$322K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.360	−0.027%	$62K	—	150x	as long as short
Aster HYPEUSDT	+0.0022%	4h	93.352	−0.035%	$8.8M	$35.5M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.393	+0.009%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0026%	4h	93.348	−0.040%	—	$53.0M	—	as long as short
Bybit HYPEUSDT	+0.0030%	8h	93.341	−0.047%	$321.1M	$277.1M	75x	as long as short
Gate HYPE_USDT	+0.0046%	4h	93.349	−0.039%	$44.6M	$54.9M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0077%	8h	93.352	−0.035%	$114.1M	$301.9M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.415	+0.032%	$16.3M	$61.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.414	+0.031%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.355	−0.032%	$69K	$1.2M	50x	as long as short
MEXC HYPE_USDT	+0.0096%	4h	93.350	−0.037%	$89.8M	$80.8M	100x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.353	−0.034%	$339K	$162K	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.418	+0.035%	$378.8M	$876.1M	75x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.370	−0.016%	$17K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.340	−0.048%	$5.8M	$43.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.438	+0.056%	$2.04B	$653.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.357	−0.030%	$10.0M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.364	−0.022%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.389	+0.004%	$45.9M	$18.1M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.388	+0.003%	$225.8M	$96.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.371	−0.015%	$7.4M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.367	−0.019%	$31.1M	$53.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.365	−0.022%	$7.5M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.333	−0.056%	$339K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.424	+0.042%	$667K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.401	+0.018%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	93.389	+0.004%	$472K	$2.5M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.338	−0.050%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.333	−0.056%	$16.2M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.412	+0.029%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USDlong	+0.0100%	1h	93.385	long leg	$2.0M	$1.9M	10x
Extended HYPE-USD	+0.0104%	1h	93.387	+0.002%	$18.4M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.368	−0.018%	$397K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0110%	4h	93.315	−0.075%	$5.1M	$29.7M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.420	+0.037%	$4.8M	$5.6M	50x	as long as short
HTX HYPE-USDT	+0.0190%	4h	93.501	+0.124%	$1.4M	$6.0M	75x	as long as short
Reya HYPERUSDPERP	+0.0258%	1h	93.348	−0.040%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0278%	8h	93.420	+0.037%	$1.9M	$5.0M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.379	−0.006%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0338%	4h	93.380	−0.005%	$17.0M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0339%	1h	93.464	+0.085%	$7.4M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.426	+0.043%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.220	−0.177%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0685%	1h	93.458	+0.078%	$20.8M	$29.8M	50x	as long as short