Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

HYPE

all HYPE markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 00:00 UTC+0.0017%/8h= +1.8% APRpaid last 24h −0.014%
Price spread now: Kalshi against BingX+0.104%7-day average +0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$310.315% of the position
Long on BingXShort on Kalshi
What this pair did over the last
the charts below follow
Funding, last 7 days−0.110%−$11 on $10k
Price spread, last 7 days+0.018%+$2 · spread now +0.104%, 7d avg +0.016%
Together, before fees−0.092%−$9 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kalshi is 0.088% dearer against BingX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.016%. Mind the row above: over the last 7 days funding on this pair cost −0.110%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX HYPE-USDT93.2680.0100pay 0.0050% / 4h1h 08m—$53.7M—
ShortKalshi KXHYPEPERP93.3650.0117get 0.0117% / 8h5h 08m$1.9M$5.2M2.3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kalshi against BingX. 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

Funding earned
$3.54
Price spread: +0.104% → +0.016%
$8.85
Slippage, 4 orders
−$11.45
Fee BingX: 5 bp × 2 orders
−$10
Fee Kalshi: 5 bp × 2 orders
−$10
Net
−$19.06
Costs to cover
0.315%
Break-even
44.7 days
Slippage from BingX: live order book, 10 min ago; Kalshi: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BingX live order book, 10 min ago0.11 bp6.1 bp −$68.5 bp −$8511.4 bp −$1,14214.6 bp −$7,298
Sell Kalshi live order book, 5 min ago2.52 bp9.9 bp −$1011.6 bp −$11617.8 bp −$1,782doesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps HYPEUSD−0.0461%1h93.255−0.014%$22K$22K10xas long as short
Hibachi HYPE/USDT-P−0.0392%1h93.204−0.068%$197K$229K7xas long as short
Arcus HYPE-USD−0.0131%1h93.203−0.070%$1.2M$3.9M10xas long as short
Ondo Perps HYPE-USD.P−0.0126%1h93.160−0.116%$699K$895K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.262−0.006%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0024%1h93.319+0.055%$90K$358K20xas long as short
dYdX HYPE-USD0.0000%1h93.308+0.043%$127K$32K5xas long as short
Popdex HYPEUSDT0.0000%1h93.292+0.026%$58K$1.2M50xas long as short
Perpl HYPE0.0000%43m93.301+0.035%$23K$330K10xas long as short
Aster HYPEUSDT+0.0002%4h93.294+0.028%$8.9M$35.7M300xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.320+0.056%$27K—150xas long as short
Orderly PERP_HYPE_USDC+0.0017%4h93.303+0.038%$176K$524K20xas long as short
Bybit HYPEUSDT+0.0022%8h93.290+0.024%$323.1M$282.8M75xas long as short
Phoenix HYPE+0.0034%1h93.306+0.041%$214K$1.2M10xas long as short
Bullet HYPE-USD+0.0050%1h93.286+0.020%$112K$578K20xas long as short
Derive HYPE-PERP+0.0050%1h93.255−0.014%$16.3M$7.0M10xas long as short
Binance HYPEUSDT+0.0062%4h93.295+0.029%$383.0M$887.6M75xas long as short
Gate HYPE_USDT+0.0062%4h93.273+0.005%$44.0M$58.8M75xas long as short
MEXC HYPE_USDT+0.0062%4h93.290+0.024%$90.2M$82.3M100xas long as short
edgeX HYPEUSDC+0.0080%4h93.250−0.019%$5.1M$29.6M30xas long as short
Lighter HYPE+0.0096%1h93.348+0.086%$18.6M$59.0M20xas long as short
Lighter RH HYPE+0.0096%1h93.331+0.068%$3.1M$12.2M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.301+0.036%$397K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.306+0.041%$339K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.250−0.019%$35K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.266−0.003%$5.9M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.319+0.055%$2.03B$661.0M10xas long as short
Pacifica HYPE+0.0100%1h93.319+0.055%$10.1M$14.5M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.285+0.018%$114.1M$312.5M50xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.307+0.042%$47.0M$18.5M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.273+0.005%$226.2M$102.7M75xas long as short
BingX HYPE-USDTlong+0.0100%4h93.268long leg—$53.7M—
Backpack HYPE_USDC_PERP+0.0100%1h93.326+0.062%$7.8M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h93.212−0.060%$30.8M$51.9M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.339+0.076%$7.5M$45.7M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.280+0.013%$415K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.222−0.049%$674K$2.4M20xas long as short
Vest HYPE-PERP+0.0100%1h93.314+0.049%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.302+0.036%$493K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.303+0.038%$75K$166K20xas long as short
SunX HYPE-USDT+0.0100%4h93.311+0.046%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.297+0.031%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.299+0.033%$12.7M$2.6M50xas long as short
Bulk HYPE-USD+0.0100%1h93.280+0.013%$204K$8K10xas long as short
Extended HYPE-USD+0.0104%1h93.226−0.045%$18.2M$41.7M50xas long as short
Kalshi KXHYPEPERPshort+0.0117%8h93.365+0.104%$1.9M$5.2M2.3x
Coinbase International HYPE-PERP-INTX+0.0176%1h93.270+0.002%$4.9M$5.7M50xas long as short
HTX HYPE-USDT+0.0222%4h93.452+0.197%$1.5M$7.7M75xas long as short
Injective HYPE/USDC PERP+0.0239%1h93.530+0.281%$30K$338K12xas long as short
Reya HYPERUSDPERP+0.0247%1h93.288+0.022%$77K$159K15xas long as short
BloFin HYPE-USDT+0.0250%4h93.270+0.002%$16.9M$12.4M75xas long as short
RISEx HYPE/USDC+0.0280%1h93.277+0.010%$2.7M$6.8M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0165%1h93.316+0.052%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0425%1h93.391+0.132%$7.4M$4.5M50xas long as short
Kraken Futures PF_HYPEUSD+0.0465%1h93.422+0.166%$20.9M$28.9M50xas long as short