HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.1420%/8h= −155.5% APRnext payment −$1.78 per $10,000 · paid last 24h −0.204%

Price spread now: Hibachi against Polymarket Perps−0.329%7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$228as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$740.742% of the position

Long on Polymarket Perps Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−1.542%−$154 on $10k

Price spread, last 3 days (all we have)+0.328%+$33 · spread now −0.329%, 7d avg −0.079%

Together, before fees−1.214%+ Points / potential airdropHibachi: Active · farm board−$121 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$43 a day on $10k at the current rate, and Hibachi is 0.249% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.079%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps HYPE-USD	93.703	0.0100	pay 0.0013% / 1h	32m 09s	$468K	$2.6M	20x
Short	Hibachi HYPE/USDT-P	93.395	−0.1320	pay 0.0165% / 1h	32m 09s	$196K	$237K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now −0.329%Rate

Funding earned: −$298.2
Price spread: −0.329% → −0.079%: −$24.94
Slippage, 4 orders: −$57.2
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$397.34
Costs to cover: 0.742%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; Hibachi: live order book, 17 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	2.73 bp	6.8 bp −$7	9.6 bp −$96	doesn't fit	doesn't fit
Sell Hibachi live order book, 17 min ago	16.93 bp	25.8 bp −$26	45.1 bp −$451	doesn't fit	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-Pshort	−0.1320%	1h	93.395	−0.329%	$196K	$237K	7x
Hotstuff HYPE-PERP	−0.0080%	1h	93.681	−0.023%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0046%	1h	93.390	−0.334%	$22K	$22K	10x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.723	+0.021%	$128K	$33K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	93.812	+0.116%	$1.9M	$5.3M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	93.693	−0.011%	$23K	$352K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0005%	1h	93.650	−0.057%	$44K	—	150x	as long as short
01 Exchange HYPEUSD	+0.0016%	1h	93.688	−0.016%	$89K	$327K	20x	as long as short
Aster HYPEUSDT	+0.0018%	4h	93.692	−0.011%	$9.0M	$36.5M	300x	as long as short
Gate HYPE_USDT	+0.0020%	4h	93.681	−0.023%	$44.2M	$56.1M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	+0.0056%	8h	93.701	−0.002%	$326.1M	$285.1M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0066%	1h	93.838	+0.144%	$18.6M	$24.0M	50x	as long as short
Orderly PERP_HYPE_USDC	+0.0093%	4h	93.709	+0.006%	$182K	$505K	20x	as long as short
Phoenix HYPE	+0.0094%	1h	93.461	−0.258%	$205K	$1.1M	10x	as long as short
Lighter HYPE	+0.0096%	1h	93.759	+0.060%	$18.9M	$57.7M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.744	+0.044%	$3.1M	$12.4M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.666	−0.039%	$56K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.710	+0.007%	$25K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.703	+0.001%	$6.0M	$44.2M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.706	+0.003%	$10.0M	$14.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.721	+0.019%	$390.4M	$877.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.702	−0.001%	$114.7M	$316.3M	50x	as long as short
Ondo Perps HYPE-USD.P	+0.0100%	1h	93.630	−0.078%	$701K	$951K	10x	as long as short
Arcus HYPE-USD	+0.0100%	1h	93.643	−0.064%	$1.2M	$4.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.684	−0.020%	$205K	$9K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.679	−0.026%	$90.5M	$81.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.724	+0.022%	$46.5M	$19.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.727	+0.026%	$227.2M	$102.3M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.698	−0.005%	—	$54.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.750	+0.050%	$8.0M	$11.5M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.336	−0.391%	$28.7M	$49.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.371	−0.354%	$7.5M	$45.4M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.462	−0.257%	$457K	$934K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.497	−0.220%	$676K	$2.3M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.682	−0.023%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USDlong	+0.0100%	1h	93.703	long leg	$468K	$2.6M	20x
Bullet HYPE-USD	+0.0100%	1h	93.647	−0.060%	$112K	$574K	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.716	+0.014%	$76K	$169K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.689	−0.015%	$16.4M	$6.9M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.672	−0.033%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.710	+0.007%	$2.0M	$2.0M	10x	as long as short
Phemex HYPEUSDT	+0.0100%	8h	93.677	−0.028%	$12.7M	$2.5M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0101%	8h	93.720	+0.019%	$341K	$171K	20x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.710	+0.007%	$18.2M	$40.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.714	+0.012%	$399K	$318K	20x	as long as short
edgeX HYPEUSDC	+0.0110%	4h	93.333	−0.394%	$5.0M	$28.8M	30x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0208%	1h	93.700	−0.003%	$4.9M	$5.7M	50x	as long as short
Reya HYPERUSDPERP	+0.0243%	1h	93.644	−0.063%	$77K	$157K	15x	as long as short
Injective HYPE/USDC PERP	+0.0254%	1h	93.730	+0.029%	$30K	$182K	12x	as long as short
Hyperliquid HYPE	+0.0307%	1h	93.795	+0.098%	$2.04B	$660.1M	10x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.601	−0.109%	$17.3M	$12.3M	75x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0342% / S −0.0168%	1h	93.631	−0.077%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0390%	1h	93.814	+0.118%	$7.4M	$4.6M	50x	as long as short
RISEx HYPE/USDC	+0.0422%	1h	93.746	+0.046%	$2.8M	$6.7M	20x	as long as short
HTX HYPE-USDT	+0.0476%	4h	93.900	+0.210%	$1.5M	$7.5M	75x	as long as short