HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0227%/8h= −24.9% APRnext payment −$0.28 per $10,000 · paid last 24h −0.072%

Price spread now: Polymarket Perps against GMX−0.028%7-day average −0.013% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.231%−$23 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now −0.028%, 7d avg −0.013%

Together, before fees−0.254%−$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX HYPE/USD [WBTC.b-USDC]	95.211	L +0.0327% / S −0.0152%	pay 0.0041% / 1h	31m 40s	$1.4M	—	100x
Short	Polymarket Perps HYPE-USD	95.184	0.0100	get 0.0013% / 1h	31m 40s	$492K	$2.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against GMX. 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 GMXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$47.7
Price spread: −0.028% → −0.013%: −$1.54
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$69.23
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Polymarket Perps: live order book, 5 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell Polymarket Perps live order book, 5 min ago	0.47 bp	4.5 bp −$4	5.6 bp −$56	10.7 bp −$1,070	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HYPE on 54 exchanges

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
Kraken Futures PF_HYPEUSD	−0.0281%	1h	95.187	−0.025%	$18.2M	$31.8M	50x	as long as short
Phemex HYPEUSDT	−0.0251%	8h	95.225	+0.015%	$13.0M	$2.2M	50x	as long as short
Bluefin HYPE-PERP	−0.0193%	1h	95.149	−0.065%	$79K	$131K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0130%	1h	95.260	+0.052%	$679K	$1.2M	10x	as long as short
Aster HYPEUSDT	−0.0100%	4h	95.172	−0.041%	$8.9M	$34.0M	300x	as long as short
Orderly PERP_HYPE_USDC	−0.0077%	4h	95.133	−0.082%	$147K	$639K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0071%	1h	95.233	+0.023%	$22K	$17K	10x	as long as short
Coinbase International HYPE-PERP-INTX	−0.0064%	1h	95.200	−0.011%	$4.8M	$5.3M	50x	as long as short
Gate HYPE_USDT	−0.0062%	4h	95.168	−0.045%	$56.4M	$53.0M	75x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	95.199	−0.012%	$102K	$351K	20x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX HYPE-USDT-SWAP	−0.0049%	8h	95.179	−0.033%	$118.9M	$302.9M	50x	as long as short
Lighter HYPE	−0.0032%	1h	95.185	−0.027%	$16.6M	$55.6M	20x	as long as short
Bitget HYPEUSDT	−0.0024%	4h	95.185	−0.027%	$230.2M	$86.5M	75x	as long as short
Phoenix HYPE	−0.0017%	1h	95.395	+0.194%	$197K	$1.1M	10x	as long as short
Bullet HYPE-USD	−0.0006%	1h	95.183	−0.029%	$113K	$583K	20x	as long as short
Perpl HYPE	0.0000%	43m	95.174	−0.039%	$24K	$248K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.207	−0.004%	$100K	—	150x	as long as short
Backpack HYPE_USDC_PERP	+0.0020%	1h	95.136	−0.079%	$6.8M	$12.3M	20x	as long as short
edgeX HYPEUSDC	+0.0026%	4h	95.267	+0.059%	$5.1M	$28.2M	30x	as long as short
Derive HYPE-PERP	+0.0028%	1h	95.113	−0.102%	$16.4M	$6.4M	10x	as long as short
Bybit HYPEUSDT	+0.0035%	8h	95.200	−0.011%	$321.9M	$261.4M	75x	as long as short
Binance HYPEUSDT	+0.0036%	4h	95.187	−0.025%	$384.7M	$843.5M	75x	as long as short
BingX HYPE-USDT	+0.0036%	4h	95.168	−0.045%	—	$51.1M	—	as long as short
MEXC HYPE_USDT	+0.0038%	4h	95.199	−0.012%	$89.0M	$83.5M	100x	as long as short
dYdX HYPE-USD	+0.0041%	1h	95.209	−0.002%	$128K	$96K	5x	as long as short
KuCoin HYPEUSDTM	+0.0072%	4h	95.184	−0.028%	$47.7M	$17.7M	75x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	95.154	−0.059%	$402K	$115K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	95.197	−0.014%	$340K	$30K	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.198	−0.013%	$3.3M	$9.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	95.183	−0.029%	$292K	$1.0M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	95.160	−0.053%	$39K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.154	−0.059%	$6.8M	$49.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	95.254	+0.045%	$2.11B	$631.0M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.217	+0.007%	$10.2M	$12.8M	20x	as long as short
Arcus HYPE-USD	+0.0100%	1h	95.179	−0.033%	$1.1M	$2.8M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.309	+0.103%	$229K	$20K	10x	as long as short
Variational Omni HYPE	+0.0100%	8h	95.168	−0.045%	$30.0M	$52.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.341	+0.137%	$7.7M	$41.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	95.280	+0.073%	$324K	$918K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.322	+0.117%	$694K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.267	+0.059%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	95.184	−0.028%	$492K	$2.3M	20x
SunX HYPE-USDT	+0.0100%	4h	95.220	+0.010%	$33K	$1.3M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	95.165	−0.048%	$2.1M	$332K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.294	+0.087%	$1.4M	$5.1M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.118	−0.097%	$18.2M	$36.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0133%	8h	95.242	+0.033%	$1.8M	$5.0M	2.3x	as long as short
RISEx HYPE/USDC	+0.0138%	1h	95.199	−0.013%	$3.1M	$5.1M	20x	as long as short
BloFin HYPE-USDT	+0.0158%	4h	95.214	+0.003%	$17.5M	$11.3M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0191%	1h	95.251	+0.042%	$7.6M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0268%	1h	95.152	−0.062%	$86K	$90K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]long	L +0.0327% / S −0.0152%	1h	95.211	long leg	$1.4M	—	100x
Hibachi HYPE/USDT-P	+0.0872%	1h	95.265	+0.057%	$215K	$291K	7x	as long as short
Injective HYPE/USDC PERP	+0.1234%	1h	95.420	+0.220%	$31K	$334K	12x	as long as short