HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h +0.024%

Price spread now: Kalshi against Bybit+0.095%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$350.350% of the position

Long on Bybit Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.103%−$10 on $10k

Price spread, last 7 days−0.062%−$6 · spread now +0.095%, 7d avg +0.024%

Together, before fees−0.165%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.071% dearer against Bybit than usual: you sell high and buy low (spread +0.095% now, against its 7-day average of +0.024%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.4 days. At the pace of the last 7 days (−0.103% in total) that is about 4.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit HYPEUSDT	94.791	0.0100	pay 0.0100% / 8h	7h 51m	$317.3M	$289.3M	75x
Short	Kalshi KXHYPEPERP	94.881	0	get 0.0000% / 8h	3h 51m	$1.9M	$5.5M	2.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Bybit. 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 BybitbpFee KalshibpOrdersPrice spread, now +0.095%Rate

Funding earned: −$21
Price spread: +0.095% → +0.024%: $7.1
Slippage, 4 orders: −$14.04
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$48.95
Costs to cover: 0.350%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Kalshi: live order book, 3 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 Bybit live order book, 3 min ago	0.53 bp	6.0 bp −$6	7.7 bp −$77	14.7 bp −$1,473	42.7 bp −$21.3K
Sell Kalshi live order book, 3 min ago	4.06 bp	12.2 bp −$12	13.4 bp −$134	20.9 bp −$2,094	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	−0.1432%	1h	94.783	−0.009%	$208K	$267K	7x	as long as short
Bluefin HYPE-PERP	−0.0337%	1h	94.790	−0.001%	$80K	$150K	20x	as long as short
Aftermath Perps HYPEUSD	−0.0319%	1h	94.745	−0.049%	$22K	$20K	10x	as long as short
Phemex HYPEUSDT	−0.0238%	8h	94.788	−0.003%	$12.9M	$2.9M	50x	as long as short
Bullet HYPE-USD	−0.0173%	1h	94.826	+0.037%	$112K	$576K	20x	as long as short
Arcus HYPE-USD	−0.0112%	1h	94.817	+0.027%	$1.0M	$3.5M	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.849	+0.061%	$88K	$364K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.836	+0.047%	$3K	$331	25x	as long as short
Kraken Futures PF_HYPEUSD	−0.0047%	1h	94.869	+0.082%	$20.3M	$30.3M	50x	as long as short
Ondo Perps HYPE-USD.P	−0.0044%	1h	94.730	−0.064%	$715K	$1.2M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.813	+0.023%	$147K	$685K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.808	+0.017%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERPshort	0.0000%	8h	94.881	+0.095%	$1.9M	$5.5M	2.3x
Perpl HYPE	0.0000%	43m	94.850	+0.063%	$19K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0001%	1h	94.859	+0.072%	$85K	—	150x	as long as short
Phoenix HYPE	+0.0008%	1h	94.810	+0.020%	$208K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0012%	4h	94.771	−0.021%	$227.3M	$99.5M	75x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0016%	1h	94.820	+0.031%	$4.7M	$6.2M	50x	as long as short
Derive HYPE-PERP	+0.0022%	1h	94.691	−0.105%	$16.4M	$7.4M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0051%	8h	94.842	+0.054%	$339K	$154K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0064%	8h	94.786	−0.005%	$118.3M	$327.6M	50x	as long as short
Vest HYPE-PERP	+0.0065%	1h	94.901	+0.116%	—	$190K	5x	as long as short
Lighter HYPE	+0.0088%	1h	94.828	+0.039%	$16.3M	$61.8M	20x	as long as short
edgeX HYPEUSDC	+0.0095%	4h	94.791	0.000%	$5.0M	$30.7M	30x	as long as short
SoDEX HYPE-USD	+0.0096%	1h	94.825	+0.036%	$2.1M	$1.9M	10x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.830	+0.041%	$3.2M	$10.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.831	+0.042%	$144K	$1.3M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.830	+0.041%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.825	+0.036%	$7.3M	$52.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.910	+0.126%	$2.09B	$688.5M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.820	+0.030%	$9.6M	$37.5M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.857	+0.070%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.823	+0.033%	$380.8M	$933.8M	75x	as long as short
Bybit HYPEUSDTlong	+0.0100%	8h	94.791	long leg	$317.3M	$289.3M	75x
Bulk HYPE-USD	+0.0100%	1h	94.685	−0.112%	$219K	$12K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.789	−0.002%	$51.0M	$53.7M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.798	+0.007%	$93.7M	$84.9M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.817	+0.027%	$47.0M	$18.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.779	−0.013%	—	$53.4M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.763	−0.030%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.549	−0.255%	$29.9M	$55.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.848	+0.061%	$7.7M	$44.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.799	+0.008%	$352K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.859	+0.072%	$694K	$2.7M	20x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.921	+0.137%	$501K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.925	+0.141%	$33K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.966	+0.185%	$1.4M	$6.9M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.801	+0.011%	$18.4M	$43.0M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.845	+0.057%	$401K	$153K	20x	as long as short
RISEx HYPE/USDC	+0.0133%	1h	94.866	+0.079%	$3.1M	$6.4M	20x	as long as short
Injective HYPE/USDC PERP	+0.0153%	1h	95.060	+0.284%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0235%	1h	94.920	+0.136%	$7.5M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.808	+0.018%	$83K	$115K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0327% / S −0.0152%	1h	94.897	+0.112%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.810	+0.020%	$17.2M	$12.5M	75x	as long as short