HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1048%/8h= +114.8% APRnext payment +$1.31 per $10,000 · paid last 24h +0.080%

Price spread now: Polymarket Perps against Arcus+0.120%7-day average −0.028% · 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−$3as in the Price arb table

costs, in and out, $10k−$170.174% of the position

Long on Arcus Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.092%+$9 on $10k

Price spread, last 7 days−0.192%−$19 · spread now +0.120%, 7d avg −0.028%

Together, before fees−0.100%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$31 a day on $10k at the current rate, and Polymarket Perps is 0.148% dearer against Arcus than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.028%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.092% in total (about 9.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.31 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus HYPE-USD	92.659	−0.0948	get 0.0119% / 1h	21m 20s	$1.1M	$3.9M	10x
Short	Polymarket Perps HYPE-USD	92.770	0.0100	get 0.0013% / 1h	21m 20s	$465K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Arcus. 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 ArcusbpFee Polymarket PerpsbpOrdersPrice spread, now +0.120%Rate

Funding earned: $220.09
Price spread: +0.120% → −0.028%: $14.76
Slippage, 4 orders: −$4.94
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $217.41
Costs to cover: 0.174%
Break-even: 0.1 days

Slippage from Arcus: live order book, 3 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 Arcus live order book, 3 min ago	1.84 bp	4.2 bp −$4	6.2 bp −$62	25.2 bp −$2,518	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	0.38 bp	4.4 bp −$4	5.4 bp −$54	11.0 bp −$1,103	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
Arcus HYPE-USDlong	−0.0948%	1h	92.659	long leg	$1.1M	$3.9M	10x
Hibachi HYPE/USDT-P	−0.0240%	1h	92.701	+0.046%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0227%	1h	92.666	+0.007%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.756	+0.105%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	92.738	+0.085%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0024%	1h	92.767	+0.117%	$87K	$359K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.770	+0.120%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.755	+0.104%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.773	+0.124%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0020%	8h	92.672	+0.014%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0030%	1h	92.750	+0.098%	$111K	$579K	20x	as long as short
Ondo Perps HYPE-USD.P	+0.0035%	1h	92.680	+0.023%	$697K	$1.1M	10x	as long as short
Aster HYPEUSDT	+0.0039%	4h	92.741	+0.088%	$8.7M	$36.3M	300x	as long as short
BingX HYPE-USDT	+0.0040%	4h	92.758	+0.107%	—	$53.4M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.652	−0.008%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0049%	8h	92.750	+0.098%	$316.7M	$282.0M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0087%	8h	92.765	+0.114%	$113.6M	$304.3M	50x	as long as short
Gate HYPE_USDT	+0.0088%	4h	92.751	+0.099%	$44.5M	$55.3M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0093%	8h	92.766	+0.115%	$339K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.748	+0.096%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.749	+0.097%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.733	+0.080%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.660	+0.001%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.746	+0.094%	$7.1M	$45.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.774	+0.124%	$2.02B	$663.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.775	+0.125%	$10.0M	$15.1M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.765	+0.114%	$372.5M	$904.0M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.762	+0.111%	$87.5M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.744	+0.092%	$46.0M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.759	+0.108%	$224.5M	$98.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.720	+0.066%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.628	−0.034%	$28.5M	$57.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.707	+0.052%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.679	+0.022%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.729	+0.076%	$665K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.803	+0.156%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	92.770	+0.120%	$465K	$2.6M	20x
Bluefin HYPE-PERP	+0.0100%	1h	92.733	+0.080%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.744	+0.092%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.714	+0.059%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.778	+0.128%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.900	+0.260%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.701	+0.046%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.751	+0.099%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.773	+0.124%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0116%	4h	92.666	+0.008%	$5.0M	$29.5M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.368%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.780	+0.131%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0242%	8h	92.827	+0.181%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0262%	1h	92.754	+0.102%	$79K	$132K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.766	+0.116%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0331%	1h	92.840	+0.196%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.691	+0.035%	$16.6M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0472%	1h	92.865	+0.222%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.782	+0.132%	$3.2M	$6.4M	20x	as long as short