HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0158%/8h= −17.3% APRnext payment −$0.20 per $10,000 · paid last 24h −0.026%

Price spread now: Bullet against Polymarket Perps−0.043%7-day average +0.004% · 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−$29as in the Price arb table

costs, in and out, $10k−$240.244% of the position

Long on Polymarket Perps Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.012%−$1 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now −0.043%, 7d avg +0.004%

Together, before fees+0.015%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bullet is 0.047% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps HYPE-USD	95.120	0.0100	pay 0.0013% / 1h	8m 26s	$504K	$2.4M	20x
Short	Bullet HYPE-USD	95.079	−0.0058	pay 0.0007% / 1h	8m 26s	$113K	$583K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$33.11
Price spread: −0.043% → +0.004%: −$4.68
Slippage, 4 orders: −$8.41
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$62.2
Costs to cover: 0.244%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Bullet: live order book, 39 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	1.31 bp	5.6 bp −$6	6.8 bp −$68	13.1 bp −$1,310	doesn't fit
Sell Bullet live order book, 39 min ago	0.47 bp	7.1 bp −$7	10.8 bp −$108	doesn't fit	doesn't fit

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
Phemex HYPEUSDT	−0.0257%	8h	95.108	−0.013%	$13.0M	$2.3M	50x	as long as short
Kraken Futures PF_HYPEUSD	−0.0252%	1h	95.058	−0.065%	$18.4M	$34.9M	50x	as long as short
Arcus HYPE-USD	−0.0130%	1h	95.142	+0.023%	$1.1M	$2.7M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0126%	1h	95.172	+0.055%	$22K	$17K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0106%	1h	94.950	−0.179%	$680K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	95.104	−0.017%	$100K	$349K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	95.054	−0.069%	$3K	$421	25x	as long as short
Aster HYPEUSDT	−0.0079%	4h	95.055	−0.068%	$9.7M	$34.3M	300x	as long as short
Orderly PERP_HYPE_USDC	−0.0064%	4h	95.052	−0.071%	$148K	$642K	20x	as long as short
Gate HYPE_USDT	−0.0062%	4h	95.073	−0.049%	$55.6M	$54.0M	75x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin HYPE-PERP	−0.0060%	1h	95.070	−0.053%	$79K	$132K	20x	as long as short
Bullet HYPE-USDshort	−0.0058%	1h	95.079	−0.043%	$113K	$583K	20x
Coinbase International HYPE-PERP-INTX	−0.0056%	1h	94.990	−0.137%	$4.7M	$5.5M	50x	as long as short
OKX HYPE-USDT-SWAP	−0.0031%	8h	95.072	−0.050%	$119.1M	$303.2M	50x	as long as short
Bitget HYPEUSDT	−0.0024%	4h	95.082	−0.040%	$230.3M	$86.2M	75x	as long as short
Phoenix HYPE	−0.0008%	1h	95.181	+0.064%	$198K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	95.022	−0.103%	$24K	$251K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	95.051	−0.072%	$99K	—	150x	as long as short
Lighter HYPE	+0.0016%	1h	95.118	−0.002%	$16.6M	$58.9M	20x	as long as short
Bybit HYPEUSDT	+0.0033%	8h	95.071	−0.052%	$320.9M	$262.9M	75x	as long as short
Binance HYPEUSDT	+0.0045%	4h	95.093	−0.029%	$382.7M	$848.6M	75x	as long as short
MEXC HYPE_USDT	+0.0046%	4h	95.092	−0.029%	$90.5M	$84.8M	100x	as long as short
edgeX HYPEUSDC	+0.0046%	4h	95.146	+0.027%	$5.1M	$27.9M	30x	as long as short
BingX HYPE-USDT	+0.0052%	4h	95.079	−0.043%	—	$49.1M	—	as long as short
Popdex HYPEUSDT	+0.0056%	1h	95.081	−0.041%	$274K	$999K	50x	as long as short
dYdX HYPE-USD	+0.0066%	1h	95.118	−0.002%	$128K	$96K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0089%	8h	95.129	+0.009%	$339K	$30K	20x	as long as short
ApeX Omni HYPEUSDT	+0.0092%	1h	95.188	+0.071%	$324K	$926K	50x	as long as short
Lighter RH HYPE	+0.0096%	1h	95.139	+0.020%	$3.2M	$10.4M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	95.066	−0.057%	$402K	$125K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	95.100	−0.021%	$40K	$1.5M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	95.115	−0.005%	$7.3M	$50.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	95.142	+0.023%	$10.3M	$13.0M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	95.233	+0.118%	$229K	$20K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	95.056	−0.067%	$47.6M	$17.7M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	95.043	−0.081%	$6.9M	$12.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.971	−0.157%	$29.7M	$52.8M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	95.037	−0.087%	$7.7M	$40.4M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	95.079	−0.043%	$692K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	95.148	+0.029%	—	$80K	5x	as long as short
Polymarket Perps HYPE-USDlong	+0.0100%	1h	95.120	long leg	$504K	$2.4M	20x
SunX HYPE-USDT	+0.0100%	4h	95.072	−0.050%	$32K	$1.4M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	95.065	−0.058%	$2.1M	$335K	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	95.107	−0.014%	$1.4M	$5.3M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	95.084	−0.038%	$18.3M	$38.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0118%	1h	95.115	−0.005%	$7.5M	$4.2M	50x	as long as short
Kalshi KXHYPEPERP	+0.0121%	8h	95.145	+0.026%	$1.8M	$5.0M	2.3x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	95.103	−0.018%	$3.1M	$5.2M	20x	as long as short
Hyperliquid HYPE	+0.0151%	1h	95.187	+0.070%	$2.11B	$643.7M	10x	as long as short
BloFin HYPE-USDT	+0.0194%	4h	95.035	−0.089%	$17.5M	$11.6M	75x	as long as short
Reya HYPERUSDPERP	+0.0269%	1h	95.038	−0.086%	$85K	$90K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0155%	1h	95.052	−0.071%	$1.4M	—	100x	as long as short
Hibachi HYPE/USDT-P	+0.0704%	1h	95.101	−0.020%	$216K	$278K	7x	as long as short
Injective HYPE/USDC PERP	+0.0969%	1h	95.600	+0.505%	$31K	$334K	12x	as long as short