HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0092%/8h= +10.1% APRnext payment +$0.12 per $10,000 · paid last 24h +0.002%

Price spread now: Polymarket Perps against Popdex+0.014%55s7-day average −0.053% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.186% of the position

Long on Popdex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.013%−$1 on $10k

Price spread, last 7 days+0.025%+$3 · spread now +0.014%, 7d avg −0.053%

Together, before fees+0.012%+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Polymarket Perps is 0.067% dearer against Popdex than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.053%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex HYPEUSDT	93.435	0.0008	pay 0.0001% / 1h	5m 37s	$58K	$1.2M	50x
Short	Polymarket Perps HYPE-USD	93.448	0.0100	get 0.0013% / 1h	5m 37s	$494K	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Popdex. 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 PopdexbpFee Polymarket PerpsbpOrdersPrice spread, now +0.014%Rate

Funding earned: $19.32
Price spread: +0.014% → −0.053%: $6.7
Slippage, 4 orders: −$4.22
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $7.41
Costs to cover: 0.186%
Break-even: 4.3 days

Slippage from Popdex: live order book, 4 min ago; Polymarket Perps: live order book, 3 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 Popdex live order book, 4 min ago	0.86 bp	4.1 bp −$4	4.8 bp −$48	20.0 bp −$1,995	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	1.18 bp	5.3 bp −$5	5.5 bp −$55	10.5 bp −$1,053	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
Aftermath Perps HYPEUSD	−0.0475%	1h	93.295	−0.150%	$22K	$22K	10x	as long as short
Hibachi HYPE/USDT-P	−0.0416%	1h	93.238	−0.211%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0131%	1h	93.366	−0.074%	$1.2M	$3.9M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0129%	1h	93.380	−0.059%	$699K	$896K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.431	−0.004%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	93.465	+0.032%	$91K	$358K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.390	−0.048%	$127K	$32K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.394	−0.043%	$23K	$330K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.460	+0.027%	$27K	—	150x	as long as short
Popdex HYPEUSDTlong	+0.0008%	1h	93.435	long leg	$58K	$1.2M	50x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster HYPEUSDT	+0.0008%	4h	93.428	−0.008%	$8.9M	$35.7M	300x	as long as short
Orderly PERP_HYPE_USDC	+0.0016%	4h	93.429	−0.006%	$176K	$524K	20x	as long as short
Bybit HYPEUSDT	+0.0020%	8h	93.420	−0.016%	$323.6M	$281.6M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	93.306	−0.138%	$214K	$1.2M	10x	as long as short
Bullet HYPE-USD	+0.0054%	1h	93.434	−0.001%	$112K	$577K	20x	as long as short
MEXC HYPE_USDT	+0.0060%	4h	93.430	−0.005%	$90.3M	$82.4M	100x	as long as short
Binance HYPEUSDT	+0.0061%	4h	93.420	−0.016%	$383.4M	$885.8M	75x	as long as short
Derive HYPE-PERP	+0.0061%	1h	93.381	−0.057%	$16.3M	$7.0M	10x	as long as short
Gate HYPE_USDT	+0.0062%	4h	93.423	−0.013%	$44.1M	$58.9M	75x	as long as short
edgeX HYPEUSDC	+0.0063%	4h	93.210	−0.241%	$5.1M	$29.6M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.475	+0.043%	$18.6M	$59.0M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.459	+0.026%	$3.1M	$12.2M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.434	−0.001%	$397K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.443	+0.008%	$339K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.440	+0.005%	$35K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.430	−0.005%	$5.9M	$44.1M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.445	+0.011%	$2.03B	$661.7M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.466	+0.034%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.420	−0.016%	$114.2M	$312.6M	50x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.430	−0.005%	$47.1M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.436	+0.001%	$226.7M	$102.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.428	−0.007%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.435	0.000%	$7.9M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.212	−0.238%	$30.8M	$51.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.317	−0.126%	$7.5M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.303	−0.141%	$415K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.230	−0.219%	$674K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.422	−0.013%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	93.448	+0.014%	$494K	$2.5M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.437	+0.002%	$76K	$166K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.482	+0.050%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.417	−0.019%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.384	−0.055%	$12.7M	$2.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.280	−0.166%	$204K	$8K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.412	−0.025%	$18.2M	$41.6M	50x	as long as short
Kalshi KXHYPEPERP	+0.0117%	8h	93.481	+0.049%	$1.9M	$5.2M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.490	+0.059%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0220%	4h	93.588	+0.164%	$1.5M	$7.7M	75x	as long as short
Injective HYPE/USDC PERP	+0.0239%	1h	93.530	+0.102%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0243%	4h	93.225	−0.225%	$16.9M	$12.4M	75x	as long as short
Reya HYPERUSDPERP	+0.0248%	1h	93.426	−0.009%	$77K	$159K	15x	as long as short
RISEx HYPE/USDC	+0.0280%	1h	93.485	+0.054%	$2.7M	$6.8M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0340% / S −0.0165%	1h	93.453	+0.020%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0371%	1h	93.517	+0.088%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0464%	1h	93.534	+0.106%	$20.9M	$28.9M	50x	as long as short