HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Polymarket Perps against Popdex+0.021%7-day average −0.053% · 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−$9as in the Price arb table

costs, in and out, $10k−$170.165% of the position

Long on Popdex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.011%−$1 on $10k

Price spread, last 7 days−0.116%−$12 · spread now +0.021%, 7d avg −0.053%

Together, before fees−0.127%−$13 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: Polymarket Perps is 0.075% dearer against Popdex than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex HYPEUSDT	93.232	0.0096	pay 0.0012% / 1h	29m 50s	$75K	$1.2M	50x
Short	Polymarket Perps HYPE-USD	93.252	0.0100	get 0.0013% / 1h	29m 50s	$483K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Popdex. 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 PopdexbpFee Polymarket PerpsbpOrdersPrice spread, now +0.021%Rate

Funding earned: $0.84
Price spread: +0.021% → −0.053%: $7.48
Slippage, 4 orders: −$2.1
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$8.19
Costs to cover: 0.165%
Break-even: 75.2 days

Slippage from Popdex: live order book, 4 min ago; Polymarket Perps: live order book, 4 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 Popdex live order book, 4 min ago	0.11 bp	3.4 bp −$3	4.9 bp −$49	61.0 bp −$6,097	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	0.70 bp	4.8 bp −$5	5.4 bp −$54	11.7 bp −$1,174	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	−0.1568%	1h	93.135	−0.104%	$196K	$234K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0361%	1h	93.251	+0.020%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.195	−0.040%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0059%	1h	93.242	+0.011%	$110K	$578K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0022%	4h	93.227	−0.005%	$146K	$662K	20x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	93.261	+0.031%	$87K	$366K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.219	−0.014%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.204	−0.030%	$22K	$290K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.258	+0.028%	$62K	—	150x	as long as short
Arcus HYPE-USD	+0.0011%	1h	93.184	−0.051%	$1.0M	$4.0M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget HYPEUSDT	+0.0016%	4h	93.289	+0.061%	$225.4M	$99.0M	75x	as long as short
Bybit HYPEUSDT	+0.0019%	8h	93.250	+0.019%	$316.7M	$282.9M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0026%	1h	93.170	−0.067%	$702K	$1.2M	10x	as long as short
Phoenix HYPE	+0.0026%	1h	93.263	+0.033%	$207K	$1.2M	10x	as long as short
Phemex HYPEUSDT	+0.0054%	8h	93.297	+0.070%	$12.6M	$2.7M	50x	as long as short
edgeX HYPEUSDC	+0.0088%	4h	93.175	−0.061%	$5.0M	$30.0M	30x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	93.231	−0.001%	$339K	$162K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.294	+0.067%	$16.1M	$63.1M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.286	+0.058%	$3.1M	$11.5M	20x	as long as short
Popdex HYPEUSDTlong	+0.0096%	1h	93.232	long leg	$75K	$1.2M	50x
Katana Perps HYPE-USD	+0.0100%	8h	93.170	−0.067%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.228	−0.004%	$8.0M	$48.4M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.330	+0.105%	$2.03B	$669.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.290	+0.062%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.231	−0.001%	$10.0M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.293	+0.065%	$373.9M	$912.8M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.255	+0.025%	$114.4M	$309.5M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.230	−0.002%	$215K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.269	+0.040%	$46.7M	$54.3M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.295	+0.068%	$91.0M	$81.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.298	+0.071%	$46.1M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.283	+0.055%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.324	+0.099%	$7.3M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.131	−0.109%	$28.5M	$56.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.218	−0.015%	$7.5M	$47.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.165	−0.072%	$342K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.217	−0.016%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.286	+0.057%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	93.252	+0.021%	$483K	$2.7M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.240	+0.009%	$79K	$166K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.233	+0.001%	$16.1M	$7.4M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.204	−0.030%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.275	+0.046%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.341	+0.117%	$1.4M	$6.5M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.257	+0.027%	$18.1M	$43.2M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.278	+0.050%	$394K	$158K	20x	as long as short
Kalshi KXHYPEPERP	+0.0106%	8h	93.313	+0.087%	$1.8M	$5.6M	2.3x	as long as short
Injective HYPE/USDC PERP	+0.0122%	1h	93.120	−0.120%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.210	−0.024%	$4.6M	$5.8M	50x	as long as short
Reya HYPERUSDPERP	+0.0269%	1h	93.231	−0.001%	$80K	$127K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.258	+0.028%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.160	−0.077%	$16.9M	$11.9M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0341%	1h	93.323	+0.097%	$20.8M	$29.6M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0511%	1h	93.361	+0.138%	$7.5M	$4.0M	50x	as long as short
RISEx HYPE/USDC	+0.0527%	1h	93.276	+0.047%	$3.2M	$6.3M	20x	as long as short