HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0333%/8h= +36.4% APRnext payment +$0.42 per $10,000 · paid last 24h +0.048%

Price spread now: Polymarket Perps against Arcus+0.157%7-day average −0.030% · 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+$3as in the Price arb table

costs, in and out, $10k−$160.159% of the position

Long on Arcus Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.055%+$5 on $10k

Price spread, last 7 days−0.149%−$15 · spread now +0.157%, 7d avg −0.030%

Together, before fees−0.094%−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Polymarket Perps is 0.187% dearer against Arcus than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.030%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.055% in total (about 5.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.42 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus HYPE-USD	93.559	−0.0233	get 0.0029% / 1h	21m 03s	$1.2M	$3.8M	10x
Short	Polymarket Perps HYPE-USD	93.706	0.0100	get 0.0013% / 1h	21m 03s	$491K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Arcus. 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 ArcusbpFee Polymarket PerpsbpOrdersPrice spread, now +0.157%Rate

Funding earned: $69.83
Price spread: +0.157% → −0.030%: $18.75
Slippage, 4 orders: −$3.37
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $72.71
Costs to cover: 0.159%
Break-even: from the start

Slippage from Arcus: live order book, 3 min ago; Polymarket Perps: live order book, 3 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 Arcus live order book, 3 min ago	0.54 bp	3.3 bp −$3	8.1 bp −$81	25.8 bp −$2,577	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	0.64 bp	4.6 bp −$5	6.0 bp −$60	10.4 bp −$1,045	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	−0.0992%	1h	93.602	+0.046%	$198K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0396%	1h	93.644	+0.091%	$22K	$22K	10x	as long as short
Arcus HYPE-USDlong	−0.0233%	1h	93.559	long leg	$1.2M	$3.8M	10x
Ondo Perps HYPE-USD.P	−0.0089%	1h	93.680	+0.129%	$704K	$912K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.557	−0.002%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	93.671	+0.120%	$86K	$367K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0001%	4h	93.700	+0.151%	$168K	$586K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.737	+0.191%	$128K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.700	+0.150%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.727	+0.180%	$26K	—	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	+0.0006%	4h	93.725	+0.177%	$8.9M	$36.0M	300x	as long as short
Phoenix HYPE	+0.0009%	1h	93.610	+0.055%	$214K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0017%	8h	93.714	+0.166%	$322.2M	$283.7M	75x	as long as short
Derive HYPE-PERP	+0.0030%	1h	93.653	+0.100%	$16.4M	$7.1M	10x	as long as short
MEXC HYPE_USDT	+0.0048%	4h	93.729	+0.182%	$88.4M	$81.9M	100x	as long as short
Binance HYPEUSDT	+0.0049%	4h	93.730	+0.183%	$382.7M	$896.5M	75x	as long as short
Phemex HYPEUSDT	+0.0067%	8h	93.708	+0.159%	$12.8M	$2.6M	50x	as long as short
edgeX HYPEUSDC	+0.0070%	4h	93.483	−0.081%	$5.1M	$29.7M	30x	as long as short
Gate HYPE_USDT	+0.0074%	4h	93.718	+0.170%	$44.0M	$59.7M	75x	as long as short
Popdex HYPEUSDT	+0.0080%	1h	93.688	+0.138%	$59K	$1.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.776	+0.232%	$18.9M	$60.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.722	+0.174%	$3.0M	$12.3M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.710	+0.161%	$399K	$318K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0098%	8h	93.722	+0.174%	$115.5M	$321.4M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.683	+0.132%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.680	+0.129%	$15K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.645	+0.092%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.708	+0.160%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.625	+0.070%	$204K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.706	+0.157%	$46.4M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.747	+0.201%	$227.1M	$102.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.729	+0.182%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.762	+0.217%	$7.9M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.672	+0.121%	$31.1M	$54.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.549	−0.011%	$7.5M	$45.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.489	−0.075%	$358K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.514	−0.048%	$676K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.717	+0.169%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	93.706	+0.157%	$491K	$2.4M	20x
Bullet HYPE-USD	+0.0100%	1h	93.698	+0.149%	$113K	$576K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.698	+0.149%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.748	+0.202%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.698	+0.149%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.910%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.680	+0.130%	$18.4M	$42.8M	50x	as long as short
Hyperliquid HYPE	+0.0132%	1h	93.770	+0.226%	$2.04B	$677.4M	10x	as long as short
Kalshi KXHYPEPERP	+0.0138%	8h	93.775	+0.231%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.790	+0.247%	$4.9M	$5.7M	50x	as long as short
BloFin HYPE-USDT	+0.0197%	4h	93.704	+0.155%	$17.0M	$12.5M	75x	as long as short
HTX HYPE-USDT	+0.0204%	4h	93.848	+0.309%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.694	+0.144%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.716	+0.168%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0163%	1h	93.725	+0.177%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0433%	1h	93.798	+0.255%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0579%	1h	93.795	+0.253%	$20.9M	$29.5M	50x	as long as short