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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0227%/8h= +24.9% APRnext payment +$0.28 per $10,000 · paid last 24h +0.019%
Price spread now: Polymarket Perps against Ondo Perps+0.094%7-day average −0.040% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on Ondo PerpsShort on Polymarket Perps
What this pair did over the last
the charts below follow
Funding, last 7 days+0.070%+$7 on $10k
Price spread, last 7 days+0.084%+$8 · spread now +0.094%, 7d avg −0.040%
Together, before fees+0.154%+ Points / potential airdropOndo Perps: Active · farm board+$15 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Polymarket Perps is 0.134% dearer against Ondo Perps than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.040%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.070% in total (about 3.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.28 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOndo Perps HYPE-USD.P93.500−0.0127get 0.0016% / 1h4m 13s$699K$899K10x
ShortPolymarket Perps HYPE-USD93.5880.0100get 0.0013% / 1h4m 13s$495K$2.5M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Ondo Perps. 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

Funding earned
$47.71
Price spread: +0.094% → −0.040%
$13.41
Slippage, 4 orders
no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders
−$5
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Net
$48.12
Costs to cover
0.130%
Break-even
from the start
Slippage unknown: Ondo Perps: no order-book sample; Polymarket Perps: live order book, 5 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Ondo Perps no order-book sample—————
Sell Polymarket Perps live order book, 5 min ago1.18 bp5.3 bp −$55.5 bp −$5510.5 bp −$1,053doesn't fit
Ondo Perps: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps HYPEUSD−0.0483%1h93.360−0.150%$22K$22K10xas long as short
Hibachi HYPE/USDT-P−0.0424%1h93.420−0.085%$197K$229K7xas long as short
Arcus HYPE-USD−0.0131%1h93.506+0.006%$1.2M$3.9M10xas long as short
Ondo Perps HYPE-USD.Plong−0.0127%1h93.500long leg$699K$899K10x
Hotstuff HYPE-PERP−0.0080%1h93.591+0.097%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0024%1h93.603+0.110%$91K$358K20xas long as short
dYdX HYPE-USD0.0000%1h93.615+0.123%$127K$32K5xas long as short
Perpl HYPE0.0000%43m93.593+0.100%$23K$330K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.599+0.106%$27K—150xas long as short
Popdex HYPEUSDT+0.0008%1h93.571+0.076%$62K$1.2M50xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HYPEUSDT+0.0008%4h93.567+0.072%$8.9M$35.7M300xas long as short
Orderly PERP_HYPE_USDC+0.0016%4h93.584+0.090%$176K$524K20xas long as short
Bybit HYPEUSDT+0.0020%8h93.560+0.064%$323.9M$281.3M75xas long as short
Phoenix HYPE+0.0034%1h93.456−0.047%$214K$1.2M10xas long as short
Bullet HYPE-USD+0.0059%1h93.569+0.074%$112K$577K20xas long as short
MEXC HYPE_USDT+0.0060%4h93.574+0.079%$90.4M$82.4M100xas long as short
Derive HYPE-PERP+0.0061%1h93.532+0.035%$16.3M$7.0M10xas long as short
edgeX HYPEUSDC+0.0063%4h93.210−0.311%$5.1M$29.6M30xas long as short
Binance HYPEUSDT+0.0064%4h93.575+0.080%$384.1M$885.8M75xas long as short
Gate HYPE_USDT+0.0064%4h93.572+0.077%$44.1M$58.9M75xas long as short
Phemex HYPEUSDT+0.0093%8h93.520+0.021%$12.7M$2.6M50xas long as short
Lighter HYPE+0.0096%1h93.626+0.134%$18.6M$59.0M20xas long as short
Lighter RH HYPE+0.0096%1h93.610+0.118%$3.1M$12.2M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.579+0.085%$398K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.585+0.091%$340K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.600+0.107%$29K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.538+0.041%$5.9M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.598+0.105%$2.04B$664.3M10xas long as short
Pacifica HYPE+0.0100%1h93.625+0.134%$10.1M$14.5M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.554+0.058%$114.4M$312.9M50xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.594+0.101%$47.1M$18.4M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.595+0.102%$227.0M$102.6M75xas long as short
BingX HYPE-USDT+0.0100%4h93.563+0.067%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.601+0.108%$7.9M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h93.352−0.158%$30.8M$51.9M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.317−0.195%$7.5M$45.6M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.209−0.311%$415K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.453−0.050%$676K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.564+0.069%—$454K5xas long as short
Polymarket Perps HYPE-USDshort+0.0100%1h93.588+0.094%$495K$2.5M20x
Bluefin HYPE-PERP+0.0100%1h93.571+0.076%$76K$166K20xas long as short
SunX HYPE-USDT+0.0100%4h93.622+0.130%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.575+0.080%$2.0M$2.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.280−0.235%$204K$8K10xas long as short
Extended HYPE-USD+0.0104%1h93.556+0.060%$18.3M$41.7M50xas long as short
Kalshi KXHYPEPERP+0.0120%8h93.583+0.089%$1.9M$5.2M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0176%1h93.660+0.171%$4.9M$5.7M50xas long as short
HTX HYPE-USDT+0.0220%4h93.750+0.267%$1.5M$7.7M75xas long as short
Injective HYPE/USDC PERP+0.0239%1h93.350−0.160%$30K$338K12xas long as short
BloFin HYPE-USDT+0.0242%4h93.400−0.107%$16.9M$12.4M75xas long as short
Reya HYPERUSDPERP+0.0248%1h93.556+0.060%$77K$159K15xas long as short
RISEx HYPE/USDC+0.0280%1h93.637+0.146%$2.7M$6.8M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0340% / S −0.0165%1h93.593+0.100%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0359%1h93.675+0.187%$7.4M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0464%1h93.696+0.210%$20.9M$28.9M50xas long as short