Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0038%/8h= +4.2% APRpaid last 24h +0.001%

Price spread now: Polymarket Perps against edgeX−0.107%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

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

Long on edgeX 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 7 days+0.161%+$16 · spread now −0.107%, 7d avg −0.012%

Together, before fees+0.107%+ Points / potential airdropedgeX: Active · farm board+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.096% cheaper against edgeX than usual: you would sell low and buy high (spread −0.107% now, against its 7-day average of −0.012%). If the spread goes back, that is −$10 on $10k: about 8.3 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.054%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX HYPEUSDC	93.918	0.0062	pay 0.0031% / 4h	3h 55m	$5.1M	$29.7M	30x
Short	Polymarket Perps HYPE-USD	93.817	0.0100	get 0.0013% / 1h	55m 00s	$479K	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against edgeX. 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 edgeXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.107%Rate

Funding earned: $8.08
Price spread: −0.107% → −0.012%: −$9.6
Slippage, 4 orders: −$1.62
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$20.14
Costs to cover: 0.186%
Break-even: 24.5 days

Slippage from edgeX: live order book, 4 min ago; Polymarket Perps: live order book, 4 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 edgeX live order book, 4 min ago	0.32 bp	4.8 bp −$5	5.0 bp −$50	140.5 bp −$14.1K	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	0.05 bp	4.6 bp −$5	5.2 bp −$52	11.3 bp −$1,127	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-P	−0.1440%	1h	93.842	−0.080%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.706	−0.226%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0317%	1h	93.953	+0.038%	$22K	$22K	10x	as long as short
ApeX Omni HYPEUSDT	−0.0224%	1h	93.928	+0.011%	$340K	$1.1M	50x	as long as short
dYdX HYPE-USD	−0.0179%	1h	93.914	−0.004%	$128K	$30K	5x	as long as short
Gate HYPE_USDT	−0.0128%	4h	93.811	−0.114%	$44.6M	$58.8M	75x	as long as short
Ondo Perps HYPE-USD.P	−0.0125%	1h	93.770	−0.158%	$705K	$925K	10x	as long as short
Bullet HYPE-USD	−0.0120%	1h	93.765	−0.163%	$112K	$579K	20x	as long as short
01 Exchange HYPEUSD	−0.0120%	1h	93.784	−0.143%	$86K	$365K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.831	−0.093%	$3K	$331	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0072%	8h	93.826	−0.098%	$322.8M	$283.6M	75x	as long as short
Derive HYPE-PERP	−0.0013%	1h	93.721	−0.210%	$16.4M	$7.2M	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0008%	4h	93.778	−0.149%	$169K	$594K	20x	as long as short
Perpl HYPE	0.0000%	43m	93.804	−0.121%	$23K	$329K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.800	−0.126%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	93.913	−0.005%	$217K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0011%	4h	93.773	−0.154%	$8.9M	$36.1M	300x	as long as short
Popdex HYPEUSDT	+0.0032%	1h	93.779	−0.148%	$60K	$1.2M	50x	as long as short
Phemex HYPEUSDT	+0.0034%	8h	93.832	−0.092%	$12.8M	$2.6M	50x	as long as short
Binance HYPEUSDT	+0.0039%	4h	93.842	−0.081%	$383.4M	$898.0M	75x	as long as short
MEXC HYPE_USDT	+0.0042%	4h	93.838	−0.085%	$88.1M	$81.8M	100x	as long as short
edgeX HYPEUSDClong	+0.0062%	4h	93.918	long leg	$5.1M	$29.7M	30x
OKX HYPE-USDT-SWAP	+0.0084%	8h	93.838	−0.085%	$115.7M	$321.7M	50x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.876	−0.045%	$399K	$280K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.838	−0.085%	$18.8M	$58.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.819	−0.105%	$3.1M	$12.0M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.860	−0.062%	$341K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.820	−0.104%	$42K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.808	−0.118%	$6.6M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.891	−0.029%	$2.04B	$681.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.843	−0.080%	$10.1M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.803	−0.122%	$46.5M	$18.5M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.842	−0.081%	$227.3M	$101.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.806	−0.119%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.826	−0.098%	$7.7M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.832	−0.091%	$31.2M	$54.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.944	+0.027%	$7.6M	$45.4M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.836	−0.087%	$678K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.836	−0.087%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	93.817	−0.107%	$479K	$2.5M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.814	−0.111%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.879	−0.041%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.770	−0.158%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.944	+0.027%	$205K	$6K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.807	−0.118%	$18.4M	$42.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.890	−0.030%	$4.9M	$5.7M	50x	as long as short
BloFin HYPE-USDT	+0.0158%	4h	93.777	−0.150%	$17.0M	$12.5M	75x	as long as short
Kalshi KXHYPEPERP	+0.0162%	8h	93.870	−0.051%	$1.9M	$5.1M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.150	+0.247%	$31K	$338K	12x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.849	−0.073%	$2.8M	$6.9M	20x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	93.763	−0.165%	$78K	$143K	15x	as long as short
HTX HYPE-USDT	+0.0325%	4h	94.000	+0.087%	$1.5M	$7.4M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0336%	1h	93.871	−0.050%	$7.4M	$4.7M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0157%	1h	93.804	−0.121%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0673%	1h	93.872	−0.049%	$21.0M	$29.5M	50x	as long as short