Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%

Price spread now: SunX against Polymarket Perps−0.039%7-day average +0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$650.653% of the position

Long on Polymarket Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 4 days (all we have)−0.106%−$11 · spread now −0.039%, 7d avg +0.064%

Together, before fees−0.052%−$5 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: SunX is 0.102% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps HYPE-USD	93.084	0.0100	pay 0.0013% / 1h	8m 10s	$470K	$2.5M	20x
Short	SunX HYPE-USDT	93.048	0.0100	get 0.0050% / 4h	1h 08m	$32K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $0
Price spread: −0.039% → +0.064%: −$10.23
Slippage, 4 orders: −$49.33
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$75.56
Costs to cover: 0.653%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 6 min ago; SunX: live order book, 7 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, 6 min ago	0.22 bp	4.2 bp −$4	4.4 bp −$44	10.7 bp −$1,074	doesn't fit
Sell SunX live order book, 7 min ago	19.33 bp	32.8 bp −$33	doesn't fit	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-P	−0.0976%	1h	93.211	+0.137%	$197K	$226K	7x	as long as short
Arcus HYPE-USD	−0.0899%	1h	92.930	−0.165%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0130%	1h	93.080	−0.004%	$698K	$1.0M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.082	−0.002%	$3K	$331	25x	as long as short
Aftermath Perps HYPEUSD	−0.0078%	1h	93.224	+0.150%	$22K	$21K	10x	as long as short
01 Exchange HYPEUSD	−0.0056%	1h	93.039	−0.048%	$85K	$345K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0049%	4h	93.042	−0.045%	$154K	$654K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.148	+0.069%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.064	−0.022%	$23K	$316K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.093	+0.009%	$62K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet HYPE-USD	+0.0004%	1h	93.050	−0.036%	$111K	$579K	20x	as long as short
Phemex HYPEUSDT	+0.0007%	8h	93.097	+0.014%	$12.6M	$2.7M	50x	as long as short
Aster HYPEUSDT	+0.0022%	4h	93.062	−0.024%	$8.8M	$35.9M	300x	as long as short
Phoenix HYPE	+0.0026%	1h	93.210	+0.135%	$213K	$1.2M	10x	as long as short
BingX HYPE-USDT	+0.0036%	4h	93.068	−0.017%	—	$52.9M	—	as long as short
Gate HYPE_USDT	+0.0044%	4h	93.070	−0.015%	$44.5M	$55.6M	75x	as long as short
Bybit HYPEUSDT	+0.0048%	8h	93.027	−0.061%	$320.0M	$276.7M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0074%	8h	93.017	−0.072%	$113.5M	$298.4M	50x	as long as short
Derive HYPE-PERP	+0.0087%	1h	93.019	−0.070%	$16.1M	$7.5M	10x	as long as short
Binance HYPEUSDT	+0.0095%	4h	93.034	−0.053%	$376.3M	$879.9M	75x	as long as short
Lighter HYPE	+0.0096%	1h	93.051	−0.036%	$16.2M	$62.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.049	−0.038%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.036	−0.052%	$67K	$1.2M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0096%	8h	93.123	+0.042%	$339K	$162K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.040	−0.047%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.047	−0.039%	$5.8M	$43.0M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.114	+0.032%	$2.03B	$653.5M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.087	+0.003%	$10.0M	$14.8M	20x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.034	−0.054%	$89.3M	$81.2M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.043	−0.044%	$45.8M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.069	−0.016%	$225.1M	$96.4M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.139	+0.059%	$7.3M	$10.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.197	+0.121%	$31.4M	$53.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.289	+0.220%	$7.5M	$46.2M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.125	+0.044%	$338K	$998K	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.310	+0.243%	$667K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.109	+0.027%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDlong	+0.0100%	1h	93.084	long leg	$470K	$2.5M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.017	−0.072%	$79K	$168K	20x	as long as short
SunX HYPE-USDTshort	+0.0100%	4h	93.048	−0.039%	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	93.042	−0.045%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.155	+0.076%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.015	−0.075%	$18.3M	$42.8M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.026	−0.062%	$396K	$162K	20x	as long as short
edgeX HYPEUSDC	+0.0104%	4h	93.205	+0.130%	$5.0M	$28.9M	30x	as long as short
HTX HYPE-USDT	+0.0124%	4h	93.200	+0.125%	$1.4M	$6.0M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0176%	1h	93.120	+0.039%	$4.8M	$5.5M	50x	as long as short
Reya HYPERUSDPERP	+0.0259%	1h	93.037	−0.051%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0271%	8h	93.109	+0.027%	$1.9M	$5.2M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0156%	1h	93.078	−0.007%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.118	+0.037%	$16.9M	$11.5M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0416%	1h	93.152	+0.073%	$7.4M	$4.3M	50x	as long as short
RISEx HYPE/USDC	+0.0510%	1h	93.137	+0.057%	$3.2M	$6.3M	20x	as long as short
Injective HYPE/USDC PERP	+0.0519%	1h	93.390	+0.329%	$30K	$339K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0687%	1h	93.109	+0.027%	$20.7M	$29.8M	50x	as long as short