Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.042%

Price spread now: Polymarket Perps against HTX−0.152%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$300.295% of the position

Long on HTX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 4 days (all we have)+0.327%+$33 · spread now −0.152%, 7d avg −0.049%

Together, before fees+0.233%+$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.102% cheaper against HTX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX HYPE-USDT	92.368	0.0100	pay 0.0050% / 4h	41m 40s	$1.4M	$6.2M	75x
Short	Polymarket Perps HYPE-USD	92.228	0.0100	get 0.0013% / 1h	41m 40s	$474K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against HTX. 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 HTXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.152%Rate

Funding earned: $0
Price spread: −0.152% → −0.049%: −$10.25
Slippage, 4 orders: −$9.53
Fee HTX: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$39.78
Costs to cover: 0.295%
Break-even: never at this rate

Slippage from HTX: live order book, 2 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 HTX live order book, 2 min ago	1.24 bp	10.6 bp −$11	19.4 bp −$194	56.9 bp −$5,693	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	0.05 bp	4.1 bp −$4	4.5 bp −$45	10.9 bp −$1,086	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-USD	−0.0948%	1h	92.226	−0.154%	$1.2M	$3.8M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0520%	1h	92.314	−0.058%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0165%	1h	92.313	−0.060%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0128%	1h	92.222	−0.158%	$85K	$355K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.205	−0.176%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0070%	4h	92.195	−0.187%	$157K	$663K	20x	as long as short
Bullet HYPE-USD	−0.0059%	1h	92.203	−0.179%	$110K	$579K	20x	as long as short
Aster HYPEUSDT	−0.0007%	4h	92.264	−0.113%	$8.7M	$36.4M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.312	−0.060%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.214	−0.167%	$22K	$310K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.231	−0.148%	$61K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0020%	1h	92.240	−0.139%	$695K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0030%	4h	92.290	−0.084%	—	$53.3M	—	as long as short
Phoenix HYPE	+0.0043%	1h	92.246	−0.132%	$209K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0050%	8h	92.290	−0.084%	$315.6M	$281.2M	75x	as long as short
Gate HYPE_USDT	+0.0056%	4h	92.282	−0.093%	$44.3M	$54.9M	75x	as long as short
Derive HYPE-PERP	+0.0070%	1h	92.190	−0.193%	$16.0M	$7.5M	10x	as long as short
Phemex HYPEUSDT	+0.0074%	8h	92.240	−0.139%	$12.5M	$2.7M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0077%	8h	92.300	−0.074%	$112.9M	$301.9M	50x	as long as short
edgeX HYPEUSDC	+0.0078%	4h	92.205	−0.177%	$4.9M	$29.5M	30x	as long as short
MEXC HYPE_USDT	+0.0080%	4h	92.295	−0.079%	$87.1M	$80.5M	100x	as long as short
Binance HYPEUSDT	+0.0081%	4h	92.295	−0.079%	$370.0M	$899.7M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0091%	8h	92.331	−0.040%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.305	−0.068%	$16.0M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.305	−0.068%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.216	−0.165%	$68K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.200	−0.182%	$31K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.188	−0.195%	$6.0M	$43.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.338	−0.033%	$2.01B	$665.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.320	−0.052%	$10.0M	$15.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.245	−0.133%	$201K	$13K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.299	−0.075%	$45.8M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.308	−0.065%	$223.9M	$98.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.237	−0.142%	$7.3M	$10.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.158	−0.227%	$28.3M	$57.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.209	−0.173%	$7.5M	$45.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.186	−0.197%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.325	−0.047%	$663K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.272	−0.104%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	92.228	−0.152%	$474K	$2.6M	20x
Bluefin HYPE-PERP	+0.0100%	1h	92.218	−0.162%	$78K	$169K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.252	−0.126%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.230	−0.149%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDTlong	+0.0100%	4h	92.368	long leg	$1.4M	$6.2M	75x
Extended HYPE-USD	+0.0104%	1h	92.234	−0.146%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.221	−0.160%	$390K	$164K	20x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.684%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.230	−0.149%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERP	+0.0257%	8h	92.242	−0.136%	$1.8M	$5.4M	2.3x	as long as short
Reya HYPERUSDPERP	+0.0261%	1h	92.201	−0.181%	$79K	$138K	15x	as long as short
BloFin HYPE-USDT	+0.0304%	4h	92.211	−0.170%	$16.7M	$11.5M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0154%	1h	92.234	−0.145%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0333%	1h	92.295	−0.079%	$20.5M	$30.4M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0552%	1h	92.324	−0.048%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.286	−0.089%	$3.1M	$6.4M	20x	as long as short