Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: Polymarket Perps against SunX−0.053%7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$670.670% of the position

Long on SunX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 3 days (all we have)−0.004%$0 · spread now −0.053%, 7d avg −0.063%

Together, before fees−0.058%−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX HYPE-USDT	93.050	0.0100	pay 0.0050% / 4h	1h 57m	$32K	$1.6M	20x
Short	Polymarket Perps HYPE-USD	93.001	0.0100	get 0.0013% / 1h	57m 15s	$473K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against SunX. 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 SunXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.053%Rate

Funding earned: $0
Price spread: −0.053% → −0.063%: $1.06
Slippage, 4 orders: −$51.05
Fee SunX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$65.99
Costs to cover: 0.670%
Break-even: never at this rate

Slippage from SunX: live order book, 8 min ago; Polymarket Perps: live order book, 2 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 SunX live order book, 8 min ago	19.37 bp	24.1 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	1.07 bp	5.2 bp −$5	6.2 bp −$62	11.5 bp −$1,154	doesn't fit

HYPE on 54 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	−0.1136%	1h	93.001	−0.052%	$195K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	92.871	−0.192%	$1.2M	$3.8M	10x	as long as short
Bluefin HYPE-PERP	−0.0443%	1h	92.909	−0.152%	$79K	$170K	20x	as long as short
Bullet HYPE-USD	−0.0165%	1h	92.952	−0.105%	$111K	$578K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0158%	1h	92.970	−0.086%	$698K	$905K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	93.002	−0.052%	$84K	$346K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.198	+0.159%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0051%	4h	92.922	−0.138%	$155K	$639K	20x	as long as short
Phemex HYPEUSDT	−0.0015%	8h	93.013	−0.040%	$12.6M	$2.7M	50x	as long as short
Aster HYPEUSDT	−0.0005%	4h	92.992	−0.062%	$8.8M	$35.4M	300x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	93.017	−0.036%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.994	−0.060%	$22K	$321K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	92.969	−0.087%	$25K	—	150x	as long as short
BingX HYPE-USDT	+0.0011%	4h	93.014	−0.039%	—	$53.2M	—	as long as short
Bybit HYPEUSDT	+0.0011%	8h	92.990	−0.064%	$319.1M	$275.1M	75x	as long as short
Aftermath Perps HYPEUSD	+0.0013%	1h	93.273	+0.240%	$22K	$21K	10x	as long as short
Gate HYPE_USDT	+0.0018%	4h	92.996	−0.058%	$44.3M	$54.1M	75x	as long as short
Phoenix HYPE	+0.0060%	1h	93.056	+0.006%	$210K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0077%	8h	93.008	−0.045%	$114.0M	$300.0M	50x	as long as short
Binance HYPEUSDT	+0.0077%	4h	93.013	−0.040%	$378.2M	$873.7M	75x	as long as short
MEXC HYPE_USDT	+0.0078%	4h	93.001	−0.053%	$87.6M	$79.8M	100x	as long as short
edgeX HYPEUSDC	+0.0083%	4h	93.256	+0.221%	$5.0M	$30.1M	30x	as long as short
Lighter HYPE	+0.0096%	1h	92.996	−0.058%	$16.3M	$61.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.005	−0.048%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.997	−0.057%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.036	−0.015%	$338K	$162K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.030	−0.021%	$12K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.987	−0.068%	$5.7M	$43.5M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.091	+0.044%	$2.03B	$659.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.011	−0.042%	$10.0M	$14.6M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.335	+0.306%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.976	−0.080%	$46.0M	$18.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.013	−0.040%	$225.1M	$96.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.982	−0.073%	$7.3M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.219	+0.181%	$31.1M	$54.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.215	+0.178%	$7.5M	$46.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.222	+0.185%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.114	+0.069%	$664K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.057	+0.008%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	93.001	−0.053%	$473K	$2.4M	20x
Derive HYPE-PERP	+0.0100%	1h	92.929	−0.130%	$16.1M	$7.6M	10x	as long as short
SunX HYPE-USDTlong	+0.0100%	4h	93.050	long leg	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	92.956	−0.101%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.924	−0.136%	$18.3M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.939	−0.119%	$395K	$170K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.070	+0.021%	$4.9M	$5.4M	50x	as long as short
HTX HYPE-USDT	+0.0210%	4h	93.150	+0.107%	$1.4M	$5.9M	75x	as long as short
Reya HYPERUSDPERP	+0.0256%	1h	92.952	−0.106%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0276%	8h	93.031	−0.020%	$1.9M	$4.8M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	92.978	−0.077%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0352%	1h	93.043	−0.008%	$7.4M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.079	+0.031%	$3.2M	$6.7M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	92.900	−0.161%	$30K	$338K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0688%	1h	93.030	−0.021%	$20.7M	$29.9M	50x	as long as short