HYPE

Alert: funding

Alert: spread

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: Hibachi against Polymarket Perps−0.024%7-day average −0.078% · you buy dearer than you sell

Net, funding: paid 7d − costs−$236as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$680.678% of the position

Long on Polymarket Perps Short on Hibachi

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

The price spread pays, funding is against you. Hibachi is 0.054% dearer against Polymarket Perps than usual: you sell high and buy low (spread −0.024% now, against its 7-day average of −0.078%): +$5 on $10k if it goes back. Holding the pair costs −$47 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps HYPE-USD	94.508	0.0022	pay 0.0003% / 1h	3m 08s	$498K	$2.8M	20x
Short	Hibachi HYPE/USDT-P	94.486	−0.1528	pay 0.0191% / 1h	3m 08s	$207K	$268K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now −0.024%Rate

Funding earned: −$325.5
Price spread: −0.024% → −0.078%: $5.43
Slippage, 4 orders: −$50.83
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$387.9
Costs to cover: 0.678%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 6 min ago; Hibachi: live order book, 36 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 Polymarket Perps live order book, 6 min ago	0.90 bp	5.0 bp −$5	5.9 bp −$59	11.7 bp −$1,171	doesn't fit
Sell Hibachi live order book, 36 min ago	17.49 bp	23.9 bp −$24	43.4 bp −$434	doesn't fit	doesn't fit

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-Pshort	−0.1528%	1h	94.486	−0.024%	$207K	$268K	7x
Bluefin HYPE-PERP	−0.0382%	1h	94.445	−0.067%	$80K	$152K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0202%	1h	94.460	−0.051%	$712K	$1.2M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0195%	1h	94.468	−0.042%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0187%	1h	94.467	−0.044%	$112K	$575K	20x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.503	−0.005%	$88K	$363K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.499	−0.010%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.482	−0.028%	$1.0M	$3.5M	10x	as long as short
Derive HYPE-PERP	−0.0027%	1h	94.383	−0.132%	$16.4M	$7.3M	10x	as long as short
Bybit HYPEUSDT	−0.0018%	8h	94.510	+0.002%	$317.9M	$288.5M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.458	−0.053%	$147K	$686K	20x	as long as short
Lighter HYPE	0.0000%	1h	94.498	−0.011%	$16.4M	$64.8M	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.466	−0.044%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.577	+0.073%	$1.9M	$5.5M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.443	−0.069%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.495	−0.014%	$19K	$286K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.501	−0.007%	$124K	—	150x	as long as short
Bitget HYPEUSDT	+0.0016%	4h	94.507	−0.001%	$226.9M	$100.3M	75x	as long as short
Polymarket Perps HYPE-USDlong	+0.0022%	1h	94.508	long leg	$498K	$2.8M	20x
Phemex HYPEUSDT	+0.0043%	8h	94.493	−0.016%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0045%	8h	94.524	+0.017%	$338K	$154K	20x	as long as short
SoDEX HYPE-USD	+0.0049%	1h	94.495	−0.014%	$2.1M	$1.9M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.480	−0.030%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0067%	8h	94.516	+0.008%	$117.9M	$325.6M	50x	as long as short
Vest HYPE-PERP	+0.0072%	1h	94.533	+0.027%	—	$190K	5x	as long as short
Gate HYPE_USDT	+0.0082%	4h	94.516	+0.008%	$50.6M	$57.0M	75x	as long as short
edgeX HYPEUSDC	+0.0087%	4h	94.396	−0.119%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.498	−0.011%	$3.2M	$10.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.473	−0.037%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.480	−0.030%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.504	−0.004%	$7.2M	$52.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.604	+0.102%	$2.08B	$687.5M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.522	+0.015%	$8.8M	$37.0M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.523	+0.016%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.523	+0.016%	$379.0M	$932.6M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.428	−0.085%	$218K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.521	+0.014%	$90.0M	$84.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.475	−0.035%	$47.0M	$18.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.510	+0.002%	—	$52.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.494	−0.015%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.362	−0.154%	$29.6M	$54.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.422	−0.091%	$7.6M	$45.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.416	−0.097%	$350K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.468	−0.042%	$683K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.599	+0.096%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.600	+0.097%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.473	−0.037%	$18.4M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.483	−0.027%	$399K	$153K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0022%	1h	94.531	+0.025%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.450	−0.061%	$31K	$340K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0222%	1h	94.547	+0.041%	$20.3M	$30.2M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0226%	1h	94.588	+0.085%	$7.5M	$4.3M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.519	+0.012%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.451	−0.061%	$83K	$121K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.486	−0.023%	$17.2M	$12.4M	75x	as long as short