HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0333%/8h= −36.4% APRnext payment −$0.42 per $10,000 · paid last 24h −0.048%

Price spread now: Arcus against Polymarket Perps−0.086%7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$160.163% of the position

Long on Polymarket Perps Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.055%−$5 on $10k

Price spread, last 7 days+0.078%+$8 · spread now −0.086%, 7d avg +0.030%

Together, before fees+0.023%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Arcus is 0.116% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.030%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.055% in total (about -5.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.42 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps HYPE-USD	93.560	0.0100	pay 0.0013% / 1h	26m 13s	$490K	$2.4M	20x
Short	Arcus HYPE-USD	93.480	−0.0233	pay 0.0029% / 1h	26m 13s	$1.2M	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Polymarket Perps. 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 Polymarket PerpsbpFee ArcusbpOrdersPrice spread, now −0.086%Rate

Funding earned: −$69.83
Price spread: −0.086% → +0.030%: −$11.59
Slippage, 4 orders: −$3.81
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$97.73
Costs to cover: 0.163%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Arcus: live order book, 3 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 Polymarket Perps live order book, 3 min ago	0.64 bp	4.6 bp −$5	5.5 bp −$55	11.5 bp −$1,152	doesn't fit
Sell Arcus live order book, 3 min ago	0.37 bp	3.3 bp −$3	4.8 bp −$48	22.6 bp −$2,264	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	−0.0904%	1h	93.545	−0.016%	$198K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0376%	1h	93.683	+0.131%	$22K	$22K	10x	as long as short
Arcus HYPE-USDshort	−0.0233%	1h	93.480	−0.086%	$1.2M	$3.8M	10x
Hotstuff HYPE-PERP	−0.0080%	1h	93.592	+0.034%	$3K	$331	25x	as long as short
Ondo Perps HYPE-USD.P	−0.0070%	1h	93.550	−0.011%	$703K	$910K	10x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	93.525	−0.037%	$86K	$366K	20x	as long as short
Derive HYPE-PERP	−0.0017%	1h	93.462	−0.105%	$16.3M	$7.1M	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.663	+0.110%	$127K	$30K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.577	+0.018%	$23K	$329K	10x	as long as short
Orderly PERP_HYPE_USDC	+0.0002%	4h	93.540	−0.021%	$166K	$583K	20x	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 −0.0003%	1h	93.554	−0.006%	$26K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	93.687	+0.136%	$214K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0013%	4h	93.575	+0.016%	$8.9M	$36.0M	300x	as long as short
Bybit HYPEUSDT	+0.0018%	8h	93.510	−0.053%	$321.3M	$283.3M	75x	as long as short
Binance HYPEUSDT	+0.0056%	4h	93.526	−0.036%	$382.2M	$895.5M	75x	as long as short
MEXC HYPE_USDT	+0.0056%	4h	93.542	−0.019%	$87.7M	$81.8M	100x	as long as short
edgeX HYPEUSDC	+0.0064%	4h	93.635	+0.081%	$5.1M	$29.7M	30x	as long as short
Phemex HYPEUSDT	+0.0070%	8h	93.537	−0.025%	$12.7M	$2.6M	50x	as long as short
Gate HYPE_USDT	+0.0084%	4h	93.531	−0.031%	$43.9M	$59.1M	75x	as long as short
Bullet HYPE-USD	+0.0090%	1h	93.531	−0.032%	$113K	$577K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.638	+0.083%	$18.8M	$60.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.539	−0.022%	$3.0M	$12.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.545	−0.016%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.527	−0.035%	$398K	$318K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.597	+0.040%	$340K	$171K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.540	−0.021%	$43K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.605	+0.048%	$5.7M	$44.4M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.610	+0.053%	$10.1M	$14.5M	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.505	−0.059%	$115.2M	$319.9M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.625	+0.069%	$204K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.558	−0.002%	$46.4M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.519	−0.044%	$226.5M	$102.6M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.515	−0.048%	—	$54.1M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.639	+0.084%	$7.8M	$10.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.574	+0.015%	$31.2M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.632	+0.077%	$7.6M	$45.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.646	+0.092%	$346K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.611	+0.055%	$677K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.603	+0.046%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USDlong	+0.0100%	1h	93.560	long leg	$490K	$2.4M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.510	−0.053%	$76K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.567	+0.007%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.511	−0.052%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.909%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.494	−0.071%	$18.3M	$42.8M	50x	as long as short
Kalshi KXHYPEPERP	+0.0132%	8h	93.660	+0.107%	$1.9M	$5.0M	2.3x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	93.550	−0.011%	$4.9M	$5.7M	50x	as long as short
HTX HYPE-USDT	+0.0211%	4h	93.712	+0.162%	$1.5M	$7.8M	75x	as long as short
Hyperliquid HYPE	+0.0213%	1h	93.599	+0.042%	$2.03B	$676.5M	10x	as long as short
BloFin HYPE-USDT	+0.0229%	4h	93.600	+0.043%	$17.1M	$12.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0249%	1h	93.529	−0.033%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	93.601	+0.044%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0337% / S −0.0163%	1h	93.549	−0.011%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0381%	1h	93.619	+0.063%	$7.4M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0580%	1h	93.608	+0.051%	$20.9M	$29.5M	50x	as long as short