Funding you earn now, next payment 22:00 UTC+0.0444%/8h= +48.7% APRpaid last 24h +0.135%
Price spread now: Hyperliquid against Kalshi+0.035%7-day average +0.061% · you sell dearer than you buy
Net, funding: paid 7d − costs−$8as in the Funding arb table
Net, price: spread back to 7d avg − costs−$40as in the Price arb table
costs, in and out, $10k−$370.370% of the position
Funding, last 7 days+0.288%+$29 on $10k
+Price spread, last 7 days−0.102%−$10 · spread now +0.035%, 7d avg +0.061%
=Together, before fees+0.186%+ Points / potential airdropHyperliquid: Season 2 · farm board+$19 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.026% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.035% now, against its 7-day average of +0.061%). If the spread goes back, that is −$3 on $10k: about 5 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.288% in total) that is about 15 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.288% in total (about 15.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kalshi KXDOGEPERP | 0.09866 | 0 | get 0.0000% / 8h | 6h 33m | $357K | $4.3M | 2.8x |
| Short | Hyperliquid DOGE | 0.09869 | 0.0444 | get 0.0056% / 1h | 33m 49s | $109.5M | $78.6M | 10x |
Kalshi KXDOGEPERP
Hyperliquid DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Kalshi. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $93.33
- Price spread: +0.035% → +0.061%
- −$2.56
- Slippage, 4 orders
- −$18
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $53.77
- Costs to cover
- 0.370%
- Break-even
- 3.0 days
Slippage from Kalshi: live order book, 5 min ago; Hyperliquid: live order book, 10 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 Kalshi live order book, 5 min ago | 4.01 bp | 14.9 bp −$15 | 20.0 bp −$200 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 10 min ago | 1.56 bp | 6.1 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
DOGE on 44 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget DOGEUSDT | −0.0279% | 8h | 0.09850 | −0.159% | $151.6M | $260.0M | 75x | as long as short |
| Kalshi KXDOGEPERPlong | 0.0000% | 8h | 0.09866 | long leg | $357K | $4.3M | 2.8x | |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.09864 | −0.014% | $617K | $91K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.09860 | −0.059% | $32K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0048% | 1h | 0.09859 | −0.068% | $221K | $44K | 10x | as long as short |
| Gate DOGE_USDT | +0.0063% | 8h | 0.09855 | −0.108% | $234.4M | $119.2M | 75x | as long as short |
| Phoenix DOGE | +0.0080% | 1h | 0.09849 | −0.172% | $15K | $225K | 10x | as long as short |
| Katana Perps DOGE-USD | +0.0095% | 8h | 0.09862 | −0.038% | $1K | $335K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09862 | −0.035% | $782K | $5.1M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09863 | −0.027% | $626K | $695K | 10x | as long as short |
Bitget DOGEUSDT
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Gate DOGE_USDT
Phoenix DOGE
Katana Perps DOGE-USD
Lighter DOGE
Nado DOGE-PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOGEUSDT | +0.0100% | 8h | 0.09860 | −0.057% | $4.9M | $40.6M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09861 | −0.048% | $335K | $505K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09860 | −0.055% | $313.4M | $1.26B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09850 | −0.159% | $156.2M | $397.2M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09854 | −0.119% | $107.6M | $881.8M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09874 | +0.084% | $28K | $75K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09919 | +0.539% | $380K | $19K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09858 | −0.078% | $118.6M | $214.6M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09859 | −0.068% | $64.9M | $38.9M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09858 | −0.078% | — | $73.3M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09842 | −0.239% | $917K | $7.8M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09844 | −0.220% | $261K | $111.6M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09856 | −0.095% | $627K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09860 | −0.058% | $140K | $222K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09860 | −0.061% | $271K | $531K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09863 | −0.027% | $56K | $397K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09860 | −0.056% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09865 | −0.005% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09862 | −0.038% | $2K | $3.3M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09860 | −0.060% | $5.9M | $46.6M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09861 | −0.048% | $91.5M | $19.0M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09852 | −0.137% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09857 | −0.089% | $548K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09863 | −0.027% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0174% | 1h | 0.09862 | −0.033% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0200% | 1h | 0.09868 | +0.026% | $521 | $4K | 10x | as long as short |
| Backpack DOGE_USDC_PERP | +0.0205% | 1h | 0.09866 | +0.003% | $521K | $934K | 15x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09873 | +0.074% | $15.2M | $23.7M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0224% | 1h | 0.09865 | −0.007% | $2.0M | $22.2M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0243% / S −0.0263% | 1h | 0.09859 | −0.071% | $304K | — | 200x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0290% | 1h | 0.09859 | −0.072% | $6.0M | $31.6M | 50x | as long as short |
| Hyperliquid DOGEshort | +0.0444% | 1h | 0.09869 | +0.035% | $109.5M | $78.6M | 10x | |
| RISEx DOGE/USDC | +0.0536% | 1h | 0.09874 | +0.089% | $308K | $470K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1013% | 1h | 0.09880 | +0.145% | $5K | $153K | 12x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDT
Variational Omni DOGE
edgeX DOGEUSDC
GRVT DOGE_USDT_Perp
ApeX Omni DOGEUSDT
Polymarket Perps DOGE-USD
Orderly PERP_DOGE_USDC
Derive DOGE-PERP
SunX DOGE-USDT
SoDEX DOGE-USD
HTX DOGE-USDT
Phemex DOGEUSDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Reya DOGERUSDPERP
01 Exchange DOGEUSD
Backpack DOGE_USDC_PERP
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
Kraken Futures PF_DOGEUSD
RISEx DOGE/USDC
Injective DOGE/USDC PERP