HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0145%/8h= −15.9% APRnext payment −$1.45 per $10,000 · paid last 24h +0.018%

Price spread now: Bybit against Kalshi−0.079%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$310.314% of the position

Long on Kalshi Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.128%+$13 on $10k

Price spread, last 7 days−0.067%−$7 · spread now −0.079%, 7d avg −0.025%

Together, before fees+0.061%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.053% cheaper against Kalshi than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.025%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.128%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXHYPEPERP	94.110	0.0162	pay 0.0162% / 8h	3h 59m	$1.9M	$5.1M	2.3x
Short	Bybit HYPEUSDT	94.036	0.0017	get 0.0017% / 8h	7h 59m	$323.7M	$283.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Kalshi. 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 KalshibpFee BybitbpOrdersPrice spread, now −0.079%Rate

Funding earned: −$30.44
Price spread: −0.079% → −0.025%: −$5.32
Slippage, 4 orders: −$10.44
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$67.19
Costs to cover: 0.314%
Break-even: never at this rate

Slippage from Kalshi: live order book, 4 min ago; Bybit: live order book, 9 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, 4 min ago	2.92 bp	10.7 bp −$11	12.2 bp −$122	17.2 bp −$1,720	doesn't fit
Sell Bybit live order book, 9 min ago	0.53 bp	6.0 bp −$6	8.2 bp −$82	17.9 bp −$1,790	41.5 bp −$20.7K

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	−0.1408%	1h	93.957	−0.163%	$199K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0338%	1h	93.984	−0.134%	$22K	$22K	10x	as long as short
Arcus HYPE-USD	−0.0233%	1h	93.890	−0.234%	$1.2M	$3.8M	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0135%	1h	93.930	−0.191%	$705K	$924K	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.037	−0.078%	$86K	$368K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.044	−0.070%	$3K	$331	25x	as long as short
Derive HYPE-PERP	−0.0011%	1h	93.979	−0.139%	$16.4M	$7.2M	10x	as long as short
dYdX HYPE-USD	−0.0009%	1h	94.052	−0.061%	$128K	$30K	5x	as long as short
Orderly PERP_HYPE_USDC	−0.0006%	4h	94.043	−0.071%	$169K	$594K	20x	as long as short
Perpl HYPE	0.0000%	43m	94.049	−0.065%	$23K	$329K	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.071	−0.041%	$27K	—	150x	as long as short
Phoenix HYPE	+0.0009%	1h	93.898	−0.225%	$217K	$1.2M	10x	as long as short
Bybit HYPEUSDTshort	+0.0017%	8h	94.036	−0.079%	$323.7M	$283.9M	75x
Aster HYPEUSDT	+0.0018%	4h	94.056	−0.057%	$8.9M	$36.1M	300x	as long as short
Phemex HYPEUSDT	+0.0024%	8h	93.997	−0.120%	$12.8M	$2.6M	50x	as long as short
MEXC HYPE_USDT	+0.0044%	4h	94.047	−0.067%	$88.5M	$82.3M	100x	as long as short
Binance HYPEUSDT	+0.0046%	4h	94.055	−0.058%	$384.4M	$898.7M	75x	as long as short
edgeX HYPEUSDC	+0.0057%	4h	94.017	−0.099%	$5.1M	$29.7M	30x	as long as short
Popdex HYPEUSDT	+0.0064%	1h	94.028	−0.087%	$60K	$1.2M	50x	as long as short
Gate HYPE_USDT	+0.0068%	4h	94.054	−0.060%	$44.2M	$60.1M	75x	as long as short
Bullet HYPE-USD	+0.0077%	1h	94.041	−0.074%	$113K	$578K	20x	as long as short
OKX HYPE-USDT-SWAP	+0.0087%	8h	94.037	−0.078%	$116.1M	$323.1M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.094	−0.017%	$18.9M	$60.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.069	−0.044%	$3.1M	$12.4M	20x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.046	−0.068%	$400K	$318K	20x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	94.040	−0.074%	$42K	$1.6M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.088	−0.023%	$342K	$171K	20x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.031	−0.084%	$6.7M	$44.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.144	+0.036%	$2.05B	$680.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.066	−0.047%	$10.1M	$14.5M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.889	−0.235%	$205K	$7K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.053	−0.061%	$46.6M	$18.6M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.058	−0.055%	$227.8M	$102.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.043	−0.071%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.076	−0.036%	$7.9M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.972	−0.146%	$31.4M	$54.2M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.864	−0.262%	$7.6M	$45.5M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.055	−0.058%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.964	−0.155%	$679K	$2.5M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.072	−0.041%	—	$454K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.062	−0.051%	$472K	$2.5M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.429	+0.339%	$77K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.101	−0.010%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.036	−0.079%	$2.0M	$2.0M	10x	as long as short
Injective HYPE/USDC PERP	+0.0104%	1h	94.410	+0.319%	$31K	$338K	12x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.029	−0.086%	$18.4M	$42.8M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0152%	1h	94.070	−0.043%	$4.9M	$5.7M	50x	as long as short
Kalshi KXHYPEPERPlong	+0.0162%	8h	94.110	long leg	$1.9M	$5.1M	2.3x
BloFin HYPE-USDT	+0.0183%	4h	94.000	−0.117%	$17.0M	$12.6M	75x	as long as short
HTX HYPE-USDT	+0.0195%	4h	94.217	+0.114%	$1.5M	$7.8M	75x	as long as short
Reya HYPERUSDPERP	+0.0250%	1h	94.027	−0.089%	$77K	$142K	15x	as long as short
RISEx HYPE/USDC	+0.0284%	1h	94.084	−0.028%	$2.8M	$6.9M	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0338% / S −0.0157%	1h	94.070	−0.042%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0420%	1h	94.151	+0.044%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0576%	1h	94.138	+0.030%	$21.1M	$29.5M	50x	as long as short