HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0011%/8h= −1.2% APRnext payment −$0.01 per $10,000 · paid last 24h −0.027%

Price spread now: gTrade (Gains Network) against Polymarket Perps0.000%7-day average +0.007% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$279as in the Price arb table

costs, in and out, $10k−$2792.787% of the position

Long on Polymarket Perps Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.081%−$8 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now 0.000%, 7d avg +0.007%

Together, before fees−0.032%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.007%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps HYPE-USD	94.480	0.0011	pay 0.0001% / 1h	17m 08s	$498K	$2.8M	20x
Short	gTrade (Gains Network) HYPE/USD	94.480	L +0.0002% / S 0.0000%	get 0.0000% / 1h	17m 08s	$124K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now 0.000%Rate

Funding earned: −$2.21
Price spread: 0.000% → +0.007%: −$0.74
Slippage, 4 orders: −$260.65
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$281.61
Costs to cover: 2.787%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; gTrade (Gains Network): virtual book (oracle venue), 52 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, 2 min ago	0.32 bp	4.3 bp −$4	5.5 bp −$55	10.6 bp −$1,055	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 52 min ago	130.01 bp	135.0 bp −$135	135.0 bp −$1,350	1364.4 bp −$136.4K	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	−0.1720%	1h	94.369	−0.117%	$202K	$255K	7x	as long as short
Bluefin HYPE-PERP	−0.0393%	1h	94.426	−0.057%	$80K	$152K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0215%	1h	94.390	−0.095%	$710K	$1.2M	10x	as long as short
Bullet HYPE-USD	−0.0199%	1h	94.473	−0.007%	$111K	$576K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0153%	1h	94.288	−0.203%	$22K	$20K	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.489	+0.010%	$88K	$366K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.433	−0.050%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0061%	1h	94.393	−0.093%	$16.4M	$7.5M	10x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.450	−0.032%	$1.0M	$3.6M	10x	as long as short
Lighter HYPE	−0.0032%	1h	94.453	−0.029%	$16.4M	$64.5M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0019%	8h	94.431	−0.052%	$317.4M	$289.3M	75x	as long as short
BingX HYPE-USDT	−0.0018%	4h	94.455	−0.026%	—	$52.8M	—	as long as short
Orderly PERP_HYPE_USDC	−0.0009%	4h	94.431	−0.052%	$147K	$686K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.464	−0.017%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.530	+0.053%	$1.9M	$5.6M	2.3x	as long as short
Phoenix HYPE	0.0000%	1h	94.117	−0.384%	$208K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.481	+0.001%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USDshort	L +0.0002% / S 0.0000%	1h	94.480	0.000%	$124K	—	150x
Polymarket Perps HYPE-USDlong	+0.0011%	1h	94.480	long leg	$498K	$2.8M	20x
Bitget HYPEUSDT	+0.0028%	4h	94.430	−0.053%	$226.9M	$100.1M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0034%	8h	94.488	+0.008%	$338K	$154K	20x	as long as short
Phemex HYPEUSDT	+0.0035%	8h	94.457	−0.024%	$12.9M	$2.9M	50x	as long as short
Vest HYPE-PERP	+0.0040%	1h	94.506	+0.028%	—	$190K	5x	as long as short
SoDEX HYPE-USD	+0.0052%	1h	94.456	−0.025%	$2.1M	$1.9M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.440	−0.042%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAP	+0.0066%	8h	94.455	−0.026%	$117.9M	$325.5M	50x	as long as short
edgeX HYPEUSDC	+0.0091%	4h	94.281	−0.211%	$5.0M	$30.7M	30x	as long as short
Gate HYPE_USDT	+0.0094%	4h	94.450	−0.032%	$50.2M	$56.8M	75x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.458	−0.023%	$3.2M	$10.8M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.448	−0.034%	$81K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.440	−0.042%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.465	−0.015%	$7.2M	$53.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.542	+0.066%	$2.08B	$688.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.461	−0.020%	$8.9M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.488	+0.008%	$10.2M	$15.0M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.454	−0.028%	$378.7M	$934.0M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.307	−0.183%	$218K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.466	−0.015%	$89.0M	$84.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.444	−0.038%	$46.9M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.397	−0.088%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.079	−0.425%	$29.4M	$54.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.361	−0.126%	$7.6M	$45.8M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.316	−0.174%	$370K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.453	−0.029%	$683K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.500	+0.021%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.543	+0.067%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.431	−0.052%	$18.3M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.420	−0.064%	$399K	$154K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0022%	1h	94.501	+0.022%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.740	+0.275%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0194%	1h	94.543	+0.067%	$7.5M	$4.3M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0223%	1h	94.495	+0.016%	$20.2M	$30.2M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.490	+0.010%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.437	−0.046%	$85K	$120K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.465	−0.016%	$17.1M	$12.4M	75x	as long as short