Funding you earn now, next payment 05:00 UTC+0.0438%/8h= +48.0% APRpaid last 24h +0.060%
Price spread now: Deribit against Kalshi+0.162%7-day average +0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$380.375% of the position
Funding, last 7 days+0.165%+$17 on $10k
+Price spread, last 4 days (all we have)−0.278%−$28 · spread now +0.162%, 7d avg +0.016%
=Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Deribit is 0.146% dearer against Kalshi than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.016%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.165% in total (about 8.6% 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 KXHYPEPERP | 92.870 | 0 | get 0.0000% / 8h | 7h 54m | $1.8M | $5.4M | 2.3x |
| Short | Deribit HYPE_USDC-PERPETUAL | 93.020 | 0.0438 | get 0.0055% / 1h | 54m 43s | $7.5M | $4.5M | 50x |
Kalshi KXHYPEPERP
Deribit HYPE_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $91.98
- Price spread: +0.162% → +0.016%
- $14.56
- Slippage, 4 orders
- −$20.53
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $69.01
- Costs to cover
- 0.375%
- Break-even
- 1.7 days
Slippage from Kalshi: live order book, 4 min ago; Deribit: live order book, 4 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 | 3.50 bp | 10.5 bp −$11 | 12.5 bp −$125 | 17.3 bp −$1,735 | doesn't fit |
| Sell Deribit live order book, 4 min ago | 1.24 bp | 8.2 bp −$8 | 14.5 bp −$145 | doesn't fit | 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 | −0.0512% | 1h | 92.611 | −0.279% | $193K | $229K | 7x | as long as short |
| Aftermath Perps HYPEUSD | −0.0266% | 1h | 92.810 | −0.065% | $22K | $21K | 10x | as long as short |
| Arcus HYPE-USD | −0.0194% | 1h | 92.917 | +0.051% | $1.1M | $3.9M | 10x | as long as short |
| ApeX Omni HYPEUSDT | −0.0091% | 1h | 92.784 | −0.093% | $350K | $1.0M | 50x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 92.814 | −0.060% | $3K | $331 | 25x | as long as short |
| Gate HYPE_USDT | −0.0064% | 4h | 92.944 | +0.080% | $44.6M | $53.6M | 75x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0063% | 4h | 92.892 | +0.024% | $157K | $653K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 92.965 | +0.103% | $127K | $29K | 5x | as long as short |
| Kalshi KXHYPEPERPlong | 0.0000% | 8h | 92.870 | long leg | $1.8M | $5.4M | 2.3x | |
| Perpl HYPE | 0.0000% | 43m | 92.800 | −0.075% | $22K | $302K | 10x | as long as short |
Hibachi HYPE/USDT-P
Aftermath Perps HYPEUSD
Arcus HYPE-USD
ApeX Omni HYPEUSDT
Hotstuff HYPE-PERP
Gate HYPE_USDT
Orderly PERP_HYPE_USDC
dYdX HYPE-USD
Perpl HYPEShow 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 −0.0002% | 1h | 92.897 | +0.029% | $62K | — | 150x | as long as short |
| Phemex HYPEUSDT | +0.0038% | 8h | 92.939 | +0.074% | $12.6M | $2.7M | 50x | as long as short |
| Bybit HYPEUSDT | +0.0039% | 8h | 92.930 | +0.065% | $316.6M | $281.9M | 75x | as long as short |
| Phoenix HYPE | +0.0043% | 1h | 92.888 | +0.019% | $210K | $1.2M | 10x | as long as short |
| 01 Exchange HYPEUSD | +0.0056% | 1h | 92.868 | −0.002% | $87K | $362K | 20x | as long as short |
| Aster HYPEUSDT | +0.0072% | 4h | 92.922 | +0.056% | $8.7M | $36.2M | 300x | as long as short |
| Ondo Perps HYPE-USD.P | +0.0082% | 1h | 92.800 | −0.075% | $697K | $1.1M | 10x | as long as short |
| Bitget HYPEUSDT | +0.0082% | 4h | 92.943 | +0.079% | $225.0M | $98.8M | 75x | as long as short |
| edgeX HYPEUSDC | +0.0088% | 4h | 92.755 | −0.124% | $4.9M | $29.5M | 30x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 92.945 | +0.081% | $16.1M | $62.2M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 92.948 | +0.084% | $3.1M | $11.6M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 92.820 | −0.054% | $69K | $1.1M | 50x | as long as short |
| Paradex HYPE-USD-PERP | +0.0096% | 8h | 92.967 | +0.105% | $339K | $163K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0099% | 8h | 92.920 | +0.054% | $39K | $1.7M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 92.767 | −0.110% | $7.5M | $45.8M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 92.966 | +0.103% | $2.02B | $663.3M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 92.969 | +0.106% | $10.0M | $15.2M | 20x | as long as short |
| Binance HYPEUSDT | +0.0100% | 4h | 92.947 | +0.083% | $373.8M | $903.3M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 92.945 | +0.081% | $114.0M | $304.3M | 50x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 92.942 | +0.077% | $202K | $13K | 10x | as long as short |
| MEXC HYPE_USDT | +0.0100% | 4h | 92.951 | +0.087% | $88.2M | $79.8M | 100x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 92.950 | +0.086% | $46.2M | $18.4M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 92.937 | +0.072% | — | $53.8M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 92.969 | +0.107% | $7.3M | $11.3M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 92.709 | −0.174% | $28.4M | $57.4M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 92.766 | −0.112% | $7.5M | $46.3M | 10x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 92.738 | −0.142% | $666K | $2.8M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 92.873 | +0.003% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 92.871 | +0.001% | $468K | $2.6M | 20x | as long as short |
| Bullet HYPE-USD | +0.0100% | 1h | 92.841 | −0.031% | $111K | $579K | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 92.925 | +0.059% | $79K | $168K | 20x | as long as short |
| Derive HYPE-PERP | +0.0100% | 1h | 92.900 | +0.032% | $16.1M | $7.5M | 10x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 92.913 | +0.046% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 92.925 | +0.059% | $2.0M | $2.0M | 10x | as long as short |
| HTX HYPE-USDT | +0.0101% | 4h | 93.050 | +0.194% | $1.4M | $6.3M | 75x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 92.921 | +0.055% | $18.1M | $43.5M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0104% | 1h | 92.917 | +0.050% | $393K | $164K | 20x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0144% | 1h | 92.960 | +0.097% | $4.7M | $5.6M | 50x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0197% | 1h | 93.008 | +0.148% | $20.6M | $30.4M | 50x | as long as short |
| Injective HYPE/USDC PERP | +0.0242% | 1h | 92.760 | −0.118% | $30K | $339K | 12x | as long as short |
| Reya HYPERUSDPERP | +0.0264% | 1h | 92.853 | −0.019% | $79K | $131K | 15x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0330% / S −0.0154% | 1h | 92.870 | 0.000% | $1.4M | — | 100x | as long as short |
| BloFin HYPE-USDT | +0.0340% | 4h | 92.910 | +0.043% | $16.8M | $11.7M | 75x | as long as short |
| Deribit HYPE_USDC-PERPETUALshort | +0.0438% | 1h | 93.020 | +0.162% | $7.5M | $4.5M | 50x | |
| RISEx HYPE/USDC | +0.0598% | 1h | 93.010 | +0.151% | $3.2M | $6.4M | 20x | as long as short |
gTrade (Gains Network) HYPE/USD
Phemex HYPEUSDT
Bybit HYPEUSDT
Phoenix HYPE
01 Exchange HYPEUSD
Aster HYPEUSDT
Ondo Perps HYPE-USD.P
Bitget HYPEUSDT
edgeX HYPEUSDC
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
Bulk HYPE-USD
MEXC HYPE_USDT
KuCoin HYPEUSDTM
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bullet HYPE-USD
Bluefin HYPE-PERP
Derive HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
HTX HYPE-USDT
Extended HYPE-USD
Aevo HYPE-PERP
Coinbase International HYPE-PERP-INTX
Kraken Futures PF_HYPEUSD
Injective HYPE/USDC PERP
Reya HYPERUSDPERP
GMX HYPE/USD [WBTC.b-USDC]
BloFin HYPE-USDT
RISEx HYPE/USDC