Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Polymarket Perps against StandX+0.106%7-day average −0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12.3Kas in the Funding arb table

Net, price: spread back to 7d avg − costs−$12.3Kas in the Price arb table

costs, in and out, $10k−$12.3K123.133% of the position

Long on StandX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 7 days−0.108%−$11 · spread now +0.106%, 7d avg −0.045%

Together, before fees−0.150%+ Points / potential airdropStandX: Active · farm board−$15 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 0.151% dearer against StandX than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX HYPE-USD	94.250	0.0100	pay 0.0013% / 1h	29m 03s	$694K	$2.7M	20x
Short	Polymarket Perps HYPE-USD	94.350	0.0100	get 0.0013% / 1h	29m 03s	$498K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against StandX. 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 StandXbpFee Polymarket PerpsbpOrdersPrice spread, now +0.106%Rate

Funding earned: $0
Price spread: +0.106% → −0.045%: $15.08
Slippage, 4 orders: −$12,297.31
Fee StandX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$12,298.23
Costs to cover: 123.133%
Break-even: never at this rate

Slippage from StandX: live order book, 5 min ago; Polymarket Perps: live order book, 5 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 StandX live order book, 5 min ago	1.75 bp	5.7 bp −$6	5.9 bp −$59	14.7 bp −$1,469	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	218.12 bp	1401.6 bp −$1,402	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	−0.0816%	1h	94.248	−0.002%	$210K	$267K	7x	as long as short
Bluefin HYPE-PERP	−0.0609%	1h	94.263	+0.014%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0299%	1h	94.434	+0.195%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0254%	1h	94.292	+0.045%	$112K	$577K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0187%	1h	94.210	−0.042%	$701K	$1.3M	10x	as long as short
01 Exchange HYPEUSD	−0.0112%	1h	94.276	+0.028%	$90K	$366K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.232	−0.019%	$1.0M	$3.4M	10x	as long as short
Gate HYPE_USDT	−0.0106%	4h	94.308	+0.062%	$51.5M	$55.3M	75x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.206	−0.047%	$3K	$331	25x	as long as short
Kraken Futures PF_HYPEUSD	−0.0048%	1h	94.328	+0.082%	$18.8M	$35.5M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0043%	8h	94.350	+0.106%	$317.8M	$294.3M	75x	as long as short
Orderly PERP_HYPE_USDC	−0.0010%	4h	94.314	+0.068%	$147K	$678K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.298	+0.051%	$129K	$92K	5x	as long as short
Kalshi KXHYPEPERP	0.0000%	8h	94.375	+0.133%	$1.8M	$5.5M	2.3x	as long as short
Perpl HYPE	0.0000%	43m	94.232	−0.019%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.327	+0.082%	$113K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.404	+0.163%	$210K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0010%	1h	94.160	−0.095%	$16.3M	$7.5M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.230	−0.021%	$4.7M	$5.9M	50x	as long as short
Bitget HYPEUSDT	+0.0030%	4h	94.351	+0.107%	$227.0M	$98.3M	75x	as long as short
Vest HYPE-PERP	+0.0037%	1h	94.335	+0.091%	—	$190K	5x	as long as short
Paradex HYPE-USD-PERP	+0.0042%	8h	94.254	+0.005%	$337K	$39K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0046%	8h	94.347	+0.103%	$117.6M	$327.6M	50x	as long as short
Backpack HYPE_USDC_PERP	+0.0048%	1h	94.308	+0.062%	$7.5M	$10.4M	20x	as long as short
SoDEX HYPE-USD	+0.0053%	1h	94.327	+0.082%	$2.1M	$2.0M	10x	as long as short
edgeX HYPEUSDC	+0.0081%	4h	94.269	+0.020%	$5.0M	$31.0M	30x	as long as short
Phemex HYPEUSDT	+0.0082%	8h	94.346	+0.102%	$12.9M	$2.9M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.319	+0.073%	$16.2M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.349	+0.105%	$3.2M	$10.3M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.272	+0.023%	$148K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.250	0.000%	$40K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.257	+0.008%	$7.2M	$51.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.430	+0.191%	$2.07B	$689.3M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.309	+0.063%	$9.6M	$38.0M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.294	+0.047%	$10.1M	$14.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.351	+0.107%	$379.9M	$932.7M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.564	+0.333%	$220K	$14K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.351	+0.107%	$93.0M	$86.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.327	+0.082%	$47.1M	$19.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.349	+0.105%	—	$53.7M	—	as long as short
Variational Omni HYPE	+0.0100%	8h	94.329	+0.084%	$29.9M	$56.5M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.308	+0.061%	$7.6M	$44.7M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.315	+0.069%	$344K	$1.0M	50x	as long as short
StandX HYPE-USDlong	+0.0100%	1h	94.250	long leg	$694K	$2.7M	20x
Polymarket Perps HYPE-USDshort	+0.0100%	1h	94.350	+0.106%	$498K	$2.7M	20x
SunX HYPE-USDT	+0.0100%	4h	94.392	+0.151%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.500	+0.265%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.290	+0.043%	$18.2M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.371	+0.128%	$399K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.302	+0.055%	$3.1M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.170	+0.976%	$31K	$340K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	94.166	−0.089%	$82K	$105K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0290%	1h	94.411	+0.171%	$7.5M	$4.4M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0330% / S −0.0156%	1h	94.269	+0.020%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.351	+0.107%	$17.3M	$12.5M	75x	as long as short