Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.012%

Price spread now: Polymarket Perps against Vest−0.002%7-day average +0.015% · you buy dearer than you sell

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

Long on Vest Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.105%+$10 on $10k

Price spread, last 3 days (all we have)+0.104%+$10 · spread now −0.002%, 7d avg +0.015%

Together, before fees+0.209%+ Points / potential airdropVest: Active · farm board+$21 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest HYPE-PERP	93.595	0.0100	pay 0.0013% / 1h	31m 46s	—	$454K	5x
Short	Polymarket Perps HYPE-USD	93.593	0.0100	get 0.0013% / 1h	31m 46s	$494K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Vest. 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 VestbpFee Polymarket PerpsbpOrdersPrice spread, now −0.002%Rate

Funding earned: $0
Price spread: −0.002% → +0.015%: −$1.67
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$11.67
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Polymarket Perps: live order book, 2 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 Vest no order-book sample	—	—	—	—	—
Sell Polymarket Perps live order book, 2 min ago	2.24 bp	6.7 bp −$7	10.8 bp −$108	33.4 bp −$3,338	doesn't fit

Vest: 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	−0.1080%	1h	93.498	−0.104%	$197K	$233K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0269%	1h	93.502	−0.099%	$22K	$22K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0240%	1h	93.520	−0.080%	$701K	$941K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.567	−0.030%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.593	−0.002%	$89K	$348K	20x	as long as short
Bullet HYPE-USD	−0.0034%	1h	93.554	−0.044%	$112K	$583K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.563	−0.034%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.573	−0.024%	$23K	$337K	10x	as long as short
Derive HYPE-PERP	+0.0001%	1h	93.510	−0.091%	$16.4M	$7.1M	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	93.598	+0.003%	$20K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0020%	4h	93.561	−0.036%	$9.0M	$35.8M	300x	as long as short
Gate HYPE_USDT	+0.0034%	4h	93.547	−0.051%	$44.1M	$56.6M	75x	as long as short
Bybit HYPEUSDT	+0.0037%	8h	93.546	−0.052%	$325.9M	$287.0M	75x	as long as short
Phoenix HYPE	+0.0068%	1h	93.549	−0.049%	$216K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0069%	4h	93.566	−0.031%	$179K	$530K	20x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	93.558	−0.039%	$57K	$1.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.594	0.000%	$18.6M	$59.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.583	−0.013%	$3.1M	$12.3M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0100%	8h	93.571	−0.025%	$340K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.570	−0.027%	$40K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.561	−0.036%	$6.0M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.650	+0.059%	$2.04B	$668.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.571	−0.026%	$10.0M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.546	−0.052%	$386.0M	$888.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.540	−0.059%	$114.9M	$315.3M	50x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.534	−0.065%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.403	−0.205%	$204K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.547	−0.051%	$93.5M	$82.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.573	−0.023%	$46.4M	$18.8M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.585	−0.011%	$227.3M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.550	−0.048%	—	$54.2M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.590	−0.005%	$7.9M	$11.7M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.402	−0.206%	$28.9M	$49.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.500	−0.101%	$7.5M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.482	−0.121%	$406K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.585	−0.011%	$677K	$2.4M	20x	as long as short
Vest HYPE-PERPlong	+0.0100%	1h	93.595	long leg	—	$454K	5x
Polymarket Perps HYPE-USDshort	+0.0100%	1h	93.593	−0.002%	$494K	$2.6M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.558	−0.039%	$76K	$168K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.612	+0.018%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.549	−0.049%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.551	−0.047%	$12.7M	$2.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0102%	1h	93.651	+0.060%	$7.4M	$4.6M	50x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.535	−0.064%	$18.4M	$41.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.577	−0.020%	$398K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0117%	4h	93.456	−0.148%	$5.1M	$29.6M	30x	as long as short
Kalshi KXHYPEPERP	+0.0123%	8h	93.644	+0.052%	$1.9M	$5.3M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.610	+0.016%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0245%	1h	93.557	−0.041%	$78K	$158K	15x	as long as short
Injective HYPE/USDC PERP	+0.0285%	1h	93.710	+0.123%	$30K	$231K	12x	as long as short
HTX HYPE-USDT	+0.0335%	4h	93.732	+0.146%	$1.5M	$7.6M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0339% / S −0.0164%	1h	93.595	0.000%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.559	−0.038%	$17.1M	$12.5M	75x	as long as short
RISEx HYPE/USDC	+0.0467%	1h	93.623	+0.030%	$2.7M	$6.8M	20x	as long as short
Kraken Futures PF_HYPEUSD	+0.0572%	1h	93.654	+0.063%	$19.2M	$26.0M	50x	as long as short