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% APRpaid last 24h +0.007%

Price spread now: Polymarket Perps against Binance+0.100%7-day average −0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$200.199% of the position

Long on Binance Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 7 days−0.230%−$23 · spread now +0.100%, 7d avg −0.057%

Together, before fees−0.261%−$26 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: Polymarket Perps is 0.157% dearer against Binance than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance HYPEUSDT	93.065	0.0100	pay 0.0050% / 4h	1h 08m	$376.3M	$880.2M	75x
Short	Polymarket Perps HYPE-USD	93.158	0.0100	get 0.0013% / 1h	8m 54s	$472K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Binance. 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 BinancebpFee Polymarket PerpsbpOrdersPrice spread, now +0.100%Rate

Funding earned: $0
Price spread: +0.100% → −0.057%: $15.66
Slippage, 4 orders: −$1.94
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$4.28
Costs to cover: 0.199%
Break-even: never at this rate

Slippage from Binance: 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 Binance live order book, 5 min ago	0.05 bp	5.1 bp −$5	6.4 bp −$64	13.9 bp −$1,393	35.9 bp −$17.9K
Sell Polymarket Perps live order book, 5 min ago	0.22 bp	4.2 bp −$4	6.2 bp −$62	12.8 bp −$1,282	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	−0.0976%	1h	93.211	+0.157%	$197K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	93.011	−0.058%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0132%	1h	93.090	+0.027%	$698K	$1.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.163	+0.105%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0077%	1h	93.219	+0.166%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.151	+0.092%	$85K	$345K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0048%	4h	93.121	+0.060%	$155K	$654K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.226	+0.173%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.155	+0.096%	$23K	$316K	10x	as long as short
Phemex HYPEUSDT	+0.0001%	8h	93.163	+0.105%	$12.6M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.164	+0.106%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0005%	1h	93.137	+0.077%	$111K	$579K	20x	as long as short
Aster HYPEUSDT	+0.0022%	4h	93.145	+0.086%	$8.8M	$35.9M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.210	+0.156%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0036%	4h	93.065	0.000%	—	$53.0M	—	as long as short
Gate HYPE_USDT	+0.0046%	4h	93.102	+0.040%	$44.5M	$55.6M	75x	as long as short
Bybit HYPEUSDT	+0.0047%	8h	93.062	−0.003%	$320.1M	$277.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0074%	8h	93.065	0.000%	$113.6M	$298.8M	50x	as long as short
Derive HYPE-PERP	+0.0086%	1h	93.110	+0.049%	$16.2M	$7.5M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.137	+0.077%	$16.2M	$62.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.130	+0.070%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.138	+0.078%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.153	+0.095%	$339K	$162K	20x	as long as short
MEXC HYPE_USDT	+0.0098%	4h	93.097	+0.034%	$89.4M	$81.2M	100x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.120	+0.059%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.125	+0.064%	$5.8M	$43.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.174	+0.117%	$2.03B	$653.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.160	+0.102%	$10.0M	$14.8M	20x	as long as short
Binance HYPEUSDTlong	+0.0100%	4h	93.065	long leg	$376.3M	$880.2M	75x
KuCoin HYPEUSDTM	+0.0100%	4h	93.118	+0.057%	$45.8M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.102	+0.040%	$225.2M	$96.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.139	+0.080%	$7.3M	$10.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.197	+0.142%	$31.4M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.289	+0.240%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.125	+0.064%	$338K	$998K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.310	+0.263%	$667K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.201	+0.146%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	93.158	+0.100%	$472K	$2.6M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.095	+0.032%	$79K	$167K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.168	+0.111%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.137	+0.077%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.155	+0.097%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.075	+0.011%	$18.3M	$42.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.109	+0.048%	$396K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0104%	4h	93.205	+0.150%	$5.0M	$28.9M	30x	as long as short
HTX HYPE-USDT	+0.0128%	4h	93.262	+0.212%	$1.4M	$6.0M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.200	+0.145%	$4.8M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	93.106	+0.044%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0271%	8h	93.193	+0.138%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0156%	1h	93.159	+0.101%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.118	+0.057%	$16.9M	$11.5M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0415%	1h	93.233	+0.181%	$7.4M	$4.3M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.209	+0.155%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.390	+0.349%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0687%	1h	93.188	+0.132%	$20.7M	$29.8M	50x	as long as short