Settings8H · net · $10k
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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 00:00 UTC−0.0082%/8h= −9.0% APRpaid last 24h −0.010%
Price spread now: Bybit against Polymarket Perps+0.006%7-day average +0.028% · you sell dearer than you buy
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$220.221% of the position
Long on Polymarket PerpsShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.014%−$1 on $10k
Price spread, last 7 days−0.055%−$5 · spread now +0.006%, 7d avg +0.028%
Together, before fees−0.069%−$7 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.021% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.028%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps HYPE-USD93.6040.0100pay 0.0013% / 1h26m 54s$490K$2.4M20x
ShortBybit HYPEUSDT93.6100.0018get 0.0018% / 8h26m 54s$321.7M$283.3M75x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Polymarket 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
−$17.27
Price spread: +0.006% → +0.028%
−$2.14
Slippage, 4 orders
−$3.13
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$41.54
Costs to cover
0.221%
Break-even
never at this rate
Slippage from Polymarket Perps: live order book, 2 min ago; Bybit: live order book, 2 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 Polymarket Perps live order book, 2 min ago0.64 bp4.6 bp −$55.5 bp −$5511.5 bp −$1,152doesn't fit
Sell Bybit live order book, 2 min ago0.53 bp6.7 bp −$79.1 bp −$9119.2 bp −$1,91941.4 bp −$20.7K

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-P−0.0872%1h93.521−0.089%$198K$230K7xas long as short
Aftermath Perps HYPEUSD−0.0369%1h93.718+0.122%$22K$22K10xas long as short
Arcus HYPE-USD−0.0233%1h93.497−0.114%$1.2M$3.8M10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.593−0.012%$3K$33125xas long as short
Ondo Perps HYPE-USD.P−0.0067%1h93.540−0.068%$703K$909K10xas long as short
01 Exchange HYPEUSD−0.0040%1h93.573−0.033%$86K$366K20xas long as short
Derive HYPE-PERP−0.0017%1h93.529−0.080%$16.3M$7.1M10xas long as short
dYdX HYPE-USD0.0000%1h93.663+0.063%$127K$30K5xas long as short
Perpl HYPE0.0000%43m93.575−0.031%$23K$329K10xas long as short
Orderly PERP_HYPE_USDC+0.0002%4h93.617+0.014%$166K$583K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.620+0.017%$26K—150xas long as short
Phoenix HYPE+0.0009%1h93.687+0.089%$214K$1.2M10xas long as short
Aster HYPEUSDT+0.0015%4h93.608+0.005%$8.9M$36.0M300xas long as short
Bybit HYPEUSDTshort+0.0018%8h93.610+0.006%$321.7M$283.3M75x
MEXC HYPE_USDT+0.0056%4h93.627+0.025%$87.7M$81.8M100xas long as short
Binance HYPEUSDT+0.0057%4h93.618+0.015%$382.6M$895.6M75xas long as short
edgeX HYPEUSDC+0.0064%4h93.635+0.034%$5.1M$29.7M30xas long as short
Phemex HYPEUSDT+0.0072%8h93.625+0.022%$12.8M$2.6M50xas long as short
Gate HYPE_USDT+0.0084%4h93.619+0.016%$44.5M$59.1M75xas long as short
Bullet HYPE-USD+0.0090%1h93.576−0.030%$112K$577K20xas long as short
Lighter HYPE+0.0096%1h93.652+0.051%$18.8M$60.1M20xas long as short
Lighter RH HYPE+0.0096%1h93.620+0.017%$3.0M$12.3M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.589−0.016%$64K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.592−0.012%$398K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.596−0.008%$340K$171K20xas long as short
Katana Perps HYPE-USD+0.0099%8h93.550−0.058%$43K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.576−0.030%$5.7M$44.4M10xas long as short
Pacifica HYPE+0.0100%1h93.613+0.010%$10.1M$14.5M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.605+0.001%$115.2M$320.2M50xas long as short
Bulk HYPE-USD+0.0100%1h93.625+0.022%$204K$7K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.637+0.035%$46.4M$18.6M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.620+0.017%$226.8M$102.5M75xas long as short
BingX HYPE-USDT+0.0100%4h93.612+0.009%—$54.1M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.639+0.037%$7.8M$10.5M20xas long as short
Variational Omni HYPE+0.0100%8h93.564−0.042%$31.2M$53.9M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.632+0.030%$7.6M$45.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.646+0.045%$346K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h93.649+0.048%$677K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.639+0.038%—$454K5xas long as short
Polymarket Perps HYPE-USDlong+0.0100%1h93.604long leg$490K$2.4M20x
Bluefin HYPE-PERP+0.0100%1h93.590−0.015%$76K$171K20xas long as short
SunX HYPE-USDT+0.0100%4h93.615+0.012%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.587−0.018%$2.0M$2.0M10xas long as short
Injective HYPE/USDC PERP+0.0104%1h94.410+0.861%$31K$338K12xas long as short
Extended HYPE-USD+0.0104%1h93.588−0.017%$18.3M$42.8M50xas long as short
Kalshi KXHYPEPERP+0.0132%8h93.661+0.061%$1.9M$5.0M2.3xas long as short
Coinbase International HYPE-PERP-INTX+0.0152%1h93.670+0.071%$4.9M$5.7M50xas long as short
HTX HYPE-USDT+0.0213%4h93.771+0.178%$1.5M$7.8M75xas long as short
Hyperliquid HYPE+0.0221%1h93.657+0.057%$2.03B$676.4M10xas long as short
BloFin HYPE-USDT+0.0229%4h93.600−0.004%$17.1M$12.6M75xas long as short
Reya HYPERUSDPERP+0.0249%1h93.595−0.010%$77K$142K15xas long as short
RISEx HYPE/USDC+0.0284%1h93.644+0.043%$2.8M$6.9M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0337% / S −0.0163%1h93.615+0.012%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0466%1h93.693+0.095%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSD+0.0579%1h93.674+0.074%$20.9M$29.5M50xas long as short