Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: Polymarket Perps against Pacifica−0.020%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$170.171% of the position

Long on Pacifica Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 7 days−0.075%−$8 · spread now −0.020%, 7d avg −0.047%

Together, before fees−0.033%+ Points / potential airdropPacifica: Active · farm board−$3 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 0.027% dearer against Pacifica than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica HYPE	92.969	0.0100	pay 0.0013% / 1h	54m 23s	$10.0M	$15.2M	20x
Short	Polymarket Perps HYPE-USD	92.950	0.0100	get 0.0013% / 1h	54m 23s	$469K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Pacifica. 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 PacificabpFee Polymarket PerpsbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → −0.047%: $2.68
Slippage, 4 orders: −$1.08
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$14.4
Costs to cover: 0.171%
Break-even: never at this rate

Slippage from Pacifica: live order book, 5 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 Pacifica live order book, 5 min ago	0.05 bp	4.5 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	0.11 bp	4.1 bp −$4	4.8 bp −$48	11.4 bp −$1,139	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	−0.0528%	1h	92.732	−0.255%	$193K	$228K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0264%	1h	92.838	−0.140%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	92.917	−0.056%	$1.1M	$3.9M	10x	as long as short
ApeX Omni HYPEUSDT	−0.0091%	1h	92.784	−0.199%	$350K	$1.0M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.941	−0.030%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0064%	4h	92.874	−0.102%	$44.5M	$53.6M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0063%	4h	92.800	−0.182%	$157K	$653K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.965	−0.004%	$127K	$29K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	92.977	+0.009%	$1.8M	$5.4M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	92.902	−0.072%	$22K	$301K	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	92.892	−0.083%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0030%	8h	92.815	−0.165%	$12.5M	$2.7M	50x	as long as short
Bybit HYPEUSDT	+0.0038%	8h	92.820	−0.160%	$316.2M	$281.9M	75x	as long as short
Phoenix HYPE	+0.0043%	1h	92.888	−0.087%	$210K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	+0.0056%	1h	92.963	−0.006%	$87K	$362K	20x	as long as short
Aster HYPEUSDT	+0.0072%	4h	92.919	−0.054%	$8.7M	$36.2M	300x	as long as short
Ondo Perps HYPE-USD.P	+0.0082%	1h	92.800	−0.182%	$697K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0082%	4h	92.839	−0.140%	$224.8M	$98.8M	75x	as long as short
edgeX HYPEUSDC	+0.0088%	4h	92.755	−0.230%	$4.9M	$29.5M	30x	as long as short
Bullet HYPE-USD	+0.0093%	1h	92.864	−0.112%	$111K	$579K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.859	−0.119%	$16.0M	$62.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.863	−0.114%	$3.1M	$11.6M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.926	−0.046%	$69K	$1.1M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	92.967	−0.001%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.920	−0.052%	$39K	$1.7M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.830	−0.149%	$113.9M	$304.0M	50x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.915	−0.057%	$7.5M	$45.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.924	−0.048%	$2.02B	$663.4M	10x	as long as short
Pacifica HYPElong	+0.0100%	1h	92.969	long leg	$10.0M	$15.2M	20x
Binance HYPEUSDT	+0.0100%	4h	92.901	−0.073%	$373.6M	$903.3M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.942	−0.029%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.879	−0.097%	$88.1M	$79.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.949	−0.021%	$46.2M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.869	−0.107%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.969	0.000%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.709	−0.280%	$28.4M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.766	−0.218%	$7.5M	$46.3M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.833	−0.146%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.939	−0.032%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	92.950	−0.020%	$469K	$2.6M	20x
Bluefin HYPE-PERP	+0.0100%	1h	92.833	−0.146%	$79K	$168K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.811	−0.170%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.937	−0.034%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.827	−0.152%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.995	+0.028%	$1.4M	$6.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.799	−0.183%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.826	−0.154%	$392K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.010	+0.044%	$4.7M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.913	−0.060%	$20.6M	$30.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.760	−0.225%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0264%	1h	92.865	−0.112%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.880	−0.096%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.910	−0.063%	$16.8M	$11.7M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0375%	1h	92.922	−0.050%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	93.010	+0.045%	$3.2M	$6.4M	20x	as long as short