Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: Polymarket Perps against SunX−0.052%7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$660.662% of the position

Long on SunX Short on Polymarket Perps

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)−0.005%$0 · spread now −0.052%, 7d avg −0.063%

Together, before fees−0.059%−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX HYPE-USDT	93.524	0.0100	pay 0.0050% / 4h	2h 04m	$32K	$1.6M	20x
Short	Polymarket Perps HYPE-USD	93.475	0.0100	get 0.0013% / 1h	4m 13s	$475K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against SunX. 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 SunXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.052%Rate

Funding earned: $0
Price spread: −0.052% → −0.063%: $1.09
Slippage, 4 orders: −$50.25
Fee SunX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$65.16
Costs to cover: 0.662%
Break-even: never at this rate

Slippage from SunX: live order book, 11 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 SunX live order book, 11 min ago	19.35 bp	24.1 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	0.32 bp	4.3 bp −$4	5.4 bp −$54	11.4 bp −$1,142	doesn't fit

HYPE on 54 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	−0.1120%	1h	93.308	−0.231%	$196K	$227K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.352	−0.184%	$1.2M	$3.8M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.347	−0.189%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0075%	8h	93.388	−0.145%	$12.6M	$2.7M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0061%	1h	93.330	−0.207%	$699K	$905K	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0053%	4h	93.381	−0.153%	$156K	$640K	20x	as long as short
01 Exchange HYPEUSD	−0.0040%	1h	93.501	−0.025%	$85K	$347K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0034%	1h	93.481	−0.046%	$22K	$21K	10x	as long as short
Aster HYPEUSDT	−0.0003%	4h	93.448	−0.082%	$8.8M	$35.7M	300x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.389	−0.144%	$128K	$31K	5x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl HYPE	0.0000%	43m	93.485	−0.042%	$22K	$321K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.438	−0.092%	$26K	—	150x	as long as short
BingX HYPE-USDT	+0.0006%	4h	93.427	−0.104%	—	$53.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0009%	1h	93.318	−0.220%	$7.4M	$10.4M	20x	as long as short
Bybit HYPEUSDT	+0.0016%	8h	93.396	−0.137%	$320.4M	$276.9M	75x	as long as short
Gate HYPE_USDT	+0.0018%	4h	93.426	−0.105%	$44.3M	$55.4M	75x	as long as short
Phoenix HYPE	+0.0060%	1h	93.424	−0.107%	$210K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0070%	4h	93.448	−0.081%	$88.2M	$83.5M	100x	as long as short
Bullet HYPE-USD	+0.0075%	1h	93.425	−0.106%	$112K	$578K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0076%	8h	93.392	−0.141%	$114.8M	$302.8M	50x	as long as short
Binance HYPEUSDT	+0.0076%	4h	93.452	−0.077%	$380.2M	$880.4M	75x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	93.295	−0.245%	$5.0M	$30.0M	30x	as long as short
Lighter HYPE	+0.0096%	1h	93.433	−0.097%	$16.3M	$62.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.423	−0.108%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.480	−0.047%	$67K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.412	−0.120%	$397K	$172K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	93.459	−0.070%	$339K	$163K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.490	−0.036%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.422	−0.109%	$5.7M	$43.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.529	+0.005%	$2.04B	$657.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.445	−0.085%	$10.0M	$14.7M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.335	−0.202%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.431	−0.099%	$46.2M	$18.0M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.408	−0.124%	$226.0M	$97.3M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.349	−0.187%	$31.1M	$54.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.391	−0.142%	$7.5M	$47.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.340	−0.197%	$337K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.370	−0.165%	$666K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.484	−0.043%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USDshort	+0.0100%	1h	93.475	−0.052%	$475K	$2.4M	20x
Bluefin HYPE-PERP	+0.0100%	1h	93.370	−0.165%	$79K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.367	−0.168%	$16.2M	$7.7M	10x	as long as short
SunX HYPE-USDTlong	+0.0100%	4h	93.524	long leg	$32K	$1.6M	20x
SoDEX HYPE-USD	+0.0100%	1h	93.401	−0.132%	$2.0M	$1.9M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.369	−0.165%	$18.3M	$43.6M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.410	−0.122%	$4.9M	$5.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	94.180	+0.701%	$31K	$339K	12x	as long as short
HTX HYPE-USDT	+0.0194%	4h	93.600	+0.081%	$1.4M	$5.9M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.559	+0.037%	$3.2M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0256%	1h	93.426	−0.105%	$79K	$140K	15x	as long as short
Kalshi KXHYPEPERP	+0.0279%	8h	93.460	−0.068%	$1.9M	$4.9M	2.3x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0156%	1h	93.429	−0.101%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0382%	1h	93.477	−0.050%	$7.4M	$4.4M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0682%	1h	93.474	−0.054%	$20.8M	$29.8M	50x	as long as short