HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0056%/8h= +6.1% APRnext payment +$0.07 per $10,000 · paid last 24h +0.018%

Price spread now: GMX against Polymarket Perps−0.018%7-day average +0.013% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Polymarket Perps Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.086%+$9 on $10k

Price spread, last 4 days (all we have)+0.170%+$17 · spread now −0.018%, 7d avg +0.013%

Together, before fees+0.256%+$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.031% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.018% now, against its 7-day average of +0.013%). If the spread goes back, that is −$3 on $10k: about 45 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps HYPE-USD	94.299	0.0100	pay 0.0013% / 1h	27m 45s	$497K	$2.7M	20x
Short	GMX HYPE/USD [WBTC.b-USDC]	94.282	L +0.0330% / S −0.0156%	get 0.0019% / 1h	27m 45s	$1.4M	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee GMXbpOrdersPrice spread, now −0.018%Rate

Funding earned: $11.69
Price spread: −0.018% → +0.013%: −$3.15
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$11.46
Costs to cover: 0.200%
Break-even: 13.9 days

Slippage unknown: Polymarket Perps: live order book, 1 min ago; GMX: no order-book sample. Net counts fees only.

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 Polymarket Perps live order book, 1 min ago	218.12 bp	10900.3 bp −$10.9K	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi HYPE/USDT-P	−0.0816%	1h	94.248	−0.054%	$210K	$267K	7x	as long as short
Bluefin HYPE-PERP	−0.0608%	1h	94.282	−0.018%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0293%	1h	94.418	+0.126%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0258%	1h	94.231	−0.072%	$112K	$577K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0175%	1h	94.210	−0.094%	$701K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	94.188	−0.118%	$90K	$366K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.332	+0.035%	$1.0M	$3.4M	10x	as long as short
Gate HYPE_USDT	−0.0098%	4h	94.341	+0.045%	$51.6M	$55.3M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.255	−0.047%	$3K	$331	25x	as long as short
Kraken Futures PF_HYPEUSD	−0.0048%	1h	94.326	+0.028%	$18.8M	$35.6M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0037%	8h	94.346	+0.050%	$318.1M	$294.5M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0010%	4h	94.261	−0.040%	$147K	$678K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.385	+0.092%	$129K	$92K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.352	+0.056%	$1.8M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.232	−0.071%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.257	−0.044%	$113K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.404	+0.111%	$210K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0010%	1h	94.160	−0.147%	$16.3M	$7.5M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.230	−0.073%	$4.7M	$5.9M	50x	as long as short
Bitget HYPEUSDT	+0.0030%	4h	94.347	+0.051%	$227.0M	$98.0M	75x	as long as short
Vest HYPE-PERP	+0.0037%	1h	94.313	+0.015%	—	$190K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0041%	8h	94.373	+0.078%	$337K	$39K	20x	as long as short
Backpack HYPE_USDC_PERP	+0.0045%	1h	94.360	+0.065%	$7.6M	$10.4M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0046%	8h	94.349	+0.053%	$117.8M	$327.2M	50x	as long as short
SoDEX HYPE-USD	+0.0048%	1h	94.319	+0.021%	$2.1M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0075%	8h	94.344	+0.048%	$12.9M	$2.9M	50x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	94.269	−0.032%	$5.0M	$31.0M	30x	as long as short
Lighter HYPE	+0.0096%	1h	94.378	+0.084%	$16.2M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.380	+0.086%	$3.2M	$10.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.199	−0.106%	$148K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.220	−0.084%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.183	−0.122%	$7.2M	$51.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.436	+0.145%	$2.07B	$689.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.350	+0.054%	$9.6M	$38.0M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.390	+0.096%	$10.2M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.396	+0.103%	$379.7M	$932.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.213	−0.091%	$219K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.370	+0.075%	$93.0M	$86.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.344	+0.048%	$47.1M	$19.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.354	+0.058%	—	$53.0M	—	as long as short
Variational Omni HYPE	+0.0100%	8h	94.329	+0.032%	$29.9M	$56.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.308	+0.009%	$7.6M	$44.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.315	+0.017%	$344K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.250	−0.052%	$694K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USDlong	+0.0100%	1h	94.299	long leg	$497K	$2.7M	20x
SunX HYPE-USDT	+0.0100%	4h	94.270	−0.031%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.450	+0.160%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.390	+0.097%	$18.2M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.329	+0.032%	$399K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.248	−0.054%	$3.1M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.170	+0.924%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0238%	1h	94.403	+0.110%	$7.5M	$4.4M	50x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	94.218	−0.086%	$82K	$105K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]short	L +0.0330% / S −0.0156%	1h	94.282	−0.018%	$1.4M	—	100x
BloFin HYPE-USDT	+0.0340%	4h	94.351	+0.055%	$17.3M	$12.5M	75x	as long as short