HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.1420%/8h= +155.5% APRnext payment +$1.78 per $10,000 · paid last 24h +0.204%

Price spread now: Polymarket Perps against Hibachi+0.330%7-day average +0.079% · you sell dearer than you buy

Net, funding: paid 7d − costs+$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$740.742% of the position

Long on Hibachi Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+1.542%+$154 on $10k

Price spread, last 3 days (all we have)−0.329%−$33 · spread now +0.330%, 7d avg +0.079%

Together, before fees+1.213%+ Points / potential airdropHibachi: Active · farm board+$121 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$43 a day on $10k at the current rate, and Polymarket Perps is 0.251% dearer against Hibachi than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of +0.079%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi HYPE/USDT-P	93.395	−0.1320	get 0.0165% / 1h	32m 08s	$196K	$237K	7x
Short	Polymarket Perps HYPE-USD	93.703	0.0100	get 0.0013% / 1h	32m 08s	$468K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Hibachi. 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 HibachibpFee Polymarket PerpsbpOrdersPrice spread, now +0.330%Rate

Funding earned: $298.2
Price spread: +0.330% → +0.079%: $25.05
Slippage, 4 orders: −$57.2
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $249.05
Costs to cover: 0.742%
Break-even: 1.2 days

Slippage from Hibachi: live order book, 17 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 Hibachi live order book, 17 min ago	16.93 bp	32.7 bp −$33	52.5 bp −$525	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	2.73 bp	8.9 bp −$9	9.3 bp −$93	33.6 bp −$3,359	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-Plong	−0.1320%	1h	93.395	long leg	$196K	$237K	7x
Hotstuff HYPE-PERP	−0.0080%	1h	93.681	+0.306%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0046%	1h	93.390	−0.006%	$22K	$22K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.723	+0.351%	$128K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.812	+0.446%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.693	+0.319%	$23K	$352K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0005%	1h	93.650	+0.273%	$44K	—	150x	as long as short
01 Exchange HYPEUSD	+0.0016%	1h	93.688	+0.314%	$89K	$327K	20x	as long as short
Aster HYPEUSDT	+0.0018%	4h	93.692	+0.318%	$9.0M	$36.5M	300x	as long as short
Gate HYPE_USDT	+0.0020%	4h	93.681	+0.306%	$44.2M	$56.1M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0056%	8h	93.701	+0.328%	$326.1M	$285.1M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0066%	1h	93.838	+0.474%	$18.6M	$24.0M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0093%	4h	93.709	+0.336%	$182K	$505K	20x	as long as short
Phoenix HYPE	+0.0094%	1h	93.461	+0.071%	$205K	$1.1M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.759	+0.390%	$18.9M	$57.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.744	+0.374%	$3.1M	$12.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.666	+0.290%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.710	+0.337%	$25K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.703	+0.330%	$6.0M	$44.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.706	+0.332%	$10.0M	$14.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.721	+0.349%	$390.4M	$877.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.702	+0.329%	$114.7M	$316.3M	50x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	93.630	+0.252%	$701K	$951K	10x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.643	+0.265%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.684	+0.310%	$205K	$9K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.679	+0.304%	$90.5M	$81.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.724	+0.352%	$46.5M	$19.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.727	+0.355%	$227.2M	$102.3M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.698	+0.324%	—	$54.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.750	+0.380%	$8.0M	$11.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.336	−0.063%	$28.7M	$49.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.371	−0.026%	$7.5M	$45.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.462	+0.072%	$457K	$934K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.497	+0.109%	$676K	$2.3M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.682	+0.307%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	93.703	+0.330%	$468K	$2.6M	20x
Bullet HYPE-USD	+0.0100%	1h	93.647	+0.270%	$112K	$574K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.716	+0.344%	$76K	$169K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.689	+0.315%	$16.4M	$6.9M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.672	+0.297%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.710	+0.337%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.677	+0.302%	$12.7M	$2.5M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0101%	8h	93.720	+0.348%	$341K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.710	+0.337%	$18.2M	$40.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.714	+0.341%	$399K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0110%	4h	93.333	−0.066%	$5.0M	$28.8M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.700	+0.326%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0243%	1h	93.644	+0.267%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0254%	1h	93.730	+0.359%	$30K	$182K	12x	as long as short
Hyperliquid HYPE	+0.0307%	1h	93.795	+0.428%	$2.04B	$660.1M	10x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.601	+0.220%	$17.3M	$12.3M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0342% / S −0.0168%	1h	93.631	+0.252%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0390%	1h	93.814	+0.449%	$7.4M	$4.6M	50x	as long as short
RISEx HYPE/USDC	+0.0422%	1h	93.746	+0.376%	$2.8M	$6.7M	20x	as long as short
HTX HYPE-USDT	+0.0476%	4h	93.900	+0.541%	$1.5M	$7.5M	75x	as long as short