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Funding arb · Price arb /

HYPE

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.1550%/8h= +169.7% APRnext payment +$1.94 per $10,000 · paid last 24h +0.268%
Price spread now: Polymarket Perps against Hibachi+0.024%7-day average +0.078% · you sell dearer than you buy
Net, funding: paid 7d − costs+$101as in the Funding arb table
Net, price: spread back to 7d avg − costs−$73as in the Price arb table
costs, in and out, $10k−$680.678% of the position
Long on HibachiShort on Polymarket Perps
What this pair did over the last
the charts below follow
Funding, last 7 days+1.685%+$169 on $10k
Price spread, last 4 days (all we have)+0.026%+$3 · spread now +0.024%, 7d avg +0.078%
Together, before fees+1.712%+ Points / potential airdropHibachi: Active · farm board+$171 on $10k · with fees, hour by hour
Funding pays, the price is against you. Polymarket Perps is 0.054% cheaper against Hibachi than usual: you would sell low and buy high (spread +0.024% now, against its 7-day average of +0.078%). If the spread goes back, that is −$5 on $10k: about 3 hours of funding at the current rate (+$47 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHibachi HYPE/USDT-P94.486−0.1528get 0.0191% / 1h3m 06s$207K$268K7x
ShortPolymarket Perps HYPE-USD94.5080.0022get 0.0003% / 1h3m 06s$498K$2.8M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Hibachi. 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

Funding earned
$325.5
Price spread: +0.024% → +0.078%
−$5.43
Slippage, 4 orders
−$50.83
Fee Hibachi: 4.5 bp × 2 orders
−$9
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Net
$252.24
Costs to cover
0.678%
Break-even
1.6 days
Slippage from Hibachi: live order book, 36 min ago; Polymarket Perps: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hibachi live order book, 36 min ago17.49 bp34.1 bp −$3454.2 bp −$542doesn't fitdoesn't fit
Sell Polymarket Perps live order book, 6 min ago0.90 bp4.9 bp −$56.1 bp −$6111.5 bp −$1,148doesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-Plong−0.1528%1h94.486long leg$207K$268K7x
Bluefin HYPE-PERP−0.0382%1h94.445−0.043%$80K$152K20xas long as short
Ondo Perps HYPE-USD.P−0.0202%1h94.460−0.027%$712K$1.2M10xas long as short
Aftermath Perps HYPEUSD−0.0195%1h94.468−0.018%$22K$20K10xas long as short
Bullet HYPE-USD−0.0187%1h94.467−0.020%$112K$575K20xas long as short
01 Exchange HYPEUSD−0.0112%1h94.503+0.018%$88K$363K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h94.499+0.014%$3K$33125xas long as short
Arcus HYPE-USD−0.0045%1h94.482−0.004%$1.0M$3.5M10xas long as short
Derive HYPE-PERP−0.0027%1h94.383−0.109%$16.4M$7.3M10xas long as short
Bybit HYPEUSDT−0.0018%8h94.510+0.026%$317.9M$288.5M75xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Orderly PERP_HYPE_USDC−0.0007%4h94.458−0.029%$147K$686K20xas long as short
Lighter HYPE0.0000%1h94.498+0.013%$16.4M$64.8M20xas long as short
dYdX HYPE-USD0.0000%1h94.466−0.021%$130K$94K5xas long as short
Kalshi KXHYPEPERP0.0000%8h94.577+0.097%$1.9M$5.5M2.3xas long as short
Phoenix HYPE0.0000%1h94.443−0.045%$209K$1.1M10xas long as short
Perpl HYPE0.0000%43m94.495+0.010%$19K$286K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S 0.0000%1h94.501+0.016%$124K—150xas long as short
Bitget HYPEUSDT+0.0016%4h94.507+0.022%$226.9M$100.3M75xas long as short
Polymarket Perps HYPE-USDshort+0.0022%1h94.508+0.024%$498K$2.8M20x
Phemex HYPEUSDT+0.0043%8h94.493+0.008%$12.9M$2.9M50xas long as short
Paradex HYPE-USD-PERP+0.0045%8h94.524+0.040%$338K$154K20xas long as short
SoDEX HYPE-USD+0.0049%1h94.495+0.010%$2.1M$1.9M10xas long as short
Coinbase International HYPE-PERP-INTX+0.0064%1h94.480−0.006%$4.7M$6.2M50xas long as short
OKX HYPE-USDT-SWAP+0.0067%8h94.516+0.032%$117.9M$325.6M50xas long as short
Vest HYPE-PERP+0.0072%1h94.533+0.050%—$190K5xas long as short
Gate HYPE_USDT+0.0082%4h94.516+0.032%$50.6M$57.0M75xas long as short
edgeX HYPEUSDC+0.0087%4h94.396−0.095%$5.0M$30.7M30xas long as short
Lighter RH HYPE+0.0096%1h94.498+0.013%$3.2M$10.9M20xas long as short
Popdex HYPEUSDT+0.0096%1h94.473−0.014%$79K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h94.480−0.006%$28K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h94.504+0.020%$7.2M$52.9M10xas long as short
Hyperliquid HYPE+0.0100%1h94.604+0.125%$2.08B$687.5M10xas long as short
Aster HYPEUSDT+0.0100%4h94.522+0.039%$8.8M$37.0M300xas long as short
Pacifica HYPE+0.0100%1h94.523+0.039%$10.2M$14.8M20xas long as short
Binance HYPEUSDT+0.0100%4h94.523+0.039%$379.0M$932.6M75xas long as short
Bulk HYPE-USD+0.0100%1h94.428−0.061%$218K$12K10xas long as short
MEXC HYPE_USDT+0.0100%4h94.521+0.037%$90.0M$84.5M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h94.475−0.011%$47.0M$18.8M75xas long as short
BingX HYPE-USDT+0.0100%4h94.510+0.026%—$52.8M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h94.494+0.009%$7.6M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h94.362−0.131%$29.6M$54.9M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h94.422−0.067%$7.6M$45.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h94.416−0.074%$350K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h94.468−0.019%$683K$2.6M20xas long as short
SunX HYPE-USDT+0.0100%4h94.599+0.120%$32K$1.6M20xas long as short
HTX HYPE-USDT+0.0100%4h94.600+0.121%$1.4M$6.8M75xas long as short
Extended HYPE-USD+0.0104%1h94.473−0.014%$18.4M$43.1M50xas long as short
Aevo HYPE-PERP+0.0104%1h94.483−0.003%$399K$153K20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0150% / S +0.0022%1h94.531+0.048%$1.4M—100xas long as short
Injective HYPE/USDC PERP+0.0185%1h94.450−0.038%$31K$340K12xas long as short
Kraken Futures PF_HYPEUSD+0.0222%1h94.547+0.065%$20.3M$30.2M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0226%1h94.588+0.108%$7.5M$4.3M50xas long as short
RISEx HYPE/USDC+0.0249%1h94.519+0.035%$3.2M$6.4M20xas long as short
Reya HYPERUSDPERP+0.0272%1h94.451−0.037%$83K$121K15xas long as short
BloFin HYPE-USDT+0.0340%4h94.4860.000%$17.2M$12.4M75xas long as short