Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0006%/8h= +0.6% APRpaid last 24h −0.001%

Price spread now: Polymarket Perps against Paradex−0.023%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$170.174% of the position

Long on Paradex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.013%−$1 on $10k

Price spread, last 4 days (all we have)−0.158%−$16 · spread now −0.023%, 7d avg −0.017%

Together, before fees−0.170%+ Points / potential airdropParadex: Active · farm board−$17 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex HYPE-USD-PERP	95.141	0.0094	pay 0.0094% / 8h	4h 26m	$339K	$30K	20x
Short	Polymarket Perps HYPE-USD	95.119	0.0100	get 0.0013% / 1h	26m 11s	$487K	$2.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Paradex. 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 ParadexbpFee Polymarket PerpsbpOrdersPrice spread, now −0.023%Rate

Funding earned: $1.17
Price spread: −0.023% → −0.017%: −$0.63
Slippage, 4 orders: −$5.43
Fee Paradex: 2 bp × 2 orders: −$4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$16.9
Costs to cover: 0.174%
Break-even: 108.5 days

Slippage from Paradex: live order book, 16 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Paradex live order book, 16 min ago	1.26 bp	3.3 bp −$3	8.2 bp −$82	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 6 min ago	1.21 bp	5.3 bp −$5	5.5 bp −$55	12.2 bp −$1,218	doesn't fit

HYPE on 54 exchanges

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
Kraken Futures PF_HYPEUSD	−0.0281%	1h	95.128	−0.014%	$18.2M	$31.7M	50x	as long as short
Phemex HYPEUSDT	−0.0255%	8h	95.102	−0.041%	$13.0M	$2.2M	50x	as long as short
Bluefin HYPE-PERP	−0.0209%	1h	95.057	−0.089%	$79K	$131K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0112%	1h	95.080	−0.064%	$678K	$1.2M	10x	as long as short
Aster HYPEUSDT	−0.0107%	4h	95.110	−0.033%	$8.9M	$33.8M	300x	as long as short
Orderly PERP_HYPE_USDC	−0.0079%	4h	95.067	−0.078%	$147K	$639K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0078%	1h	95.148	+0.008%	$22K	$17K	10x	as long as short
01 Exchange HYPEUSD	−0.0064%	1h	95.107	−0.036%	$102K	$350K	20x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0064%	1h	95.090	−0.054%	$4.8M	$5.3M	50x	as long as short
Gate HYPE_USDT	−0.0058%	4h	95.110	−0.033%	$56.5M	$53.1M	75x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX HYPE-USDT-SWAP	−0.0050%	8h	95.131	−0.011%	$118.8M	$301.5M	50x	as long as short
Lighter HYPE	−0.0032%	1h	95.121	−0.021%	$16.6M	$55.7M	20x	as long as short
Bitget HYPEUSDT	−0.0022%	4h	95.130	−0.012%	$230.1M	$85.9M	75x	as long as short
Phoenix HYPE	−0.0017%	1h	95.106	−0.037%	$197K	$1.1M	10x	as long as short
Bullet HYPE-USD	−0.0008%	1h	95.115	−0.028%	$113K	$582K	20x	as long as short
Perpl HYPE	0.0000%	43m	95.129	−0.013%	$24K	$248K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.120	−0.022%	$99K	—	150x	as long as short
Backpack HYPE_USDC_PERP	+0.0019%	1h	95.097	−0.047%	$6.8M	$12.3M	20x	as long as short
edgeX HYPEUSDC	+0.0028%	4h	95.069	−0.076%	$5.1M	$28.2M	30x	as long as short
MEXC HYPE_USDT	+0.0030%	4h	95.127	−0.015%	$89.1M	$83.6M	100x	as long as short
Binance HYPEUSDT	+0.0030%	4h	95.127	−0.015%	$384.4M	$840.4M	75x	as long as short
Derive HYPE-PERP	+0.0033%	1h	95.048	−0.098%	$16.4M	$6.2M	10x	as long as short
dYdX HYPE-USD	+0.0035%	1h	95.114	−0.028%	$128K	$96K	5x	as long as short
Bybit HYPEUSDT	+0.0038%	8h	95.134	−0.008%	$321.7M	$260.8M	75x	as long as short
BingX HYPE-USDT	+0.0038%	4h	95.128	−0.014%	—	$51.0M	—	as long as short
KuCoin HYPEUSDTM	+0.0058%	4h	95.111	−0.032%	$47.6M	$17.7M	75x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	95.098	−0.046%	$402K	$115K	20x	as long as short
Paradex HYPE-USD-PERPlong	+0.0094%	8h	95.141	long leg	$339K	$30K	20x
Lighter RH HYPE	+0.0096%	1h	95.127	−0.015%	$3.3M	$9.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.120	−0.022%	$291K	$1.0M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.070	−0.075%	$38K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.108	−0.034%	$7.1M	$49.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.182	+0.043%	$2.11B	$631.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.175	+0.035%	$10.2M	$12.7M	20x	as long as short
Arcus HYPE-USD	+0.0100%	1h	95.166	+0.026%	$1.1M	$2.8M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.309	+0.176%	$229K	$20K	10x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.158	+0.017%	$30.1M	$52.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.201	+0.063%	$7.7M	$41.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.128	−0.014%	$334K	$922K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.136	−0.006%	$692K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.176	+0.036%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	95.119	−0.023%	$487K	$2.3M	20x
SunX HYPE-USDT	+0.0100%	4h	95.177	+0.038%	$32K	$1.3M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	95.115	−0.028%	$2.1M	$332K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.249	+0.113%	$1.4M	$5.1M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.062	−0.084%	$18.2M	$36.6M	50x	as long as short
BloFin HYPE-USDT	+0.0119%	4h	95.132	−0.010%	$17.7M	$11.3M	75x	as long as short
Kalshi KXHYPEPERP	+0.0132%	8h	95.197	+0.059%	$1.8M	$5.0M	2.3x	as long as short
RISEx HYPE/USDC	+0.0138%	1h	95.184	+0.045%	$3.2M	$5.0M	20x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0160%	1h	95.180	+0.041%	$7.6M	$4.2M	50x	as long as short
Reya HYPERUSDPERP	+0.0267%	1h	95.071	−0.074%	$84K	$92K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	95.124	−0.018%	$1.4M	—	100x	as long as short
Hibachi HYPE/USDT-P	+0.0784%	1h	95.188	+0.049%	$215K	$268K	7x	as long as short
Injective HYPE/USDC PERP	+0.1234%	1h	95.420	+0.293%	$31K	$334K	12x	as long as short