Funding you earn now, next payment 23:00 UTC−0.0533%/8h= −58.4% APRpaid last 24h −0.199%
Price spread now: Hibachi against Kalshi−0.260%7-day average −0.103% · you buy dearer than you sell
Net, funding: paid 7d − costs−$222as in the Funding arb table
Net, price: spread back to 7d avg − costs−$95as in the Price arb table
costs, in and out, $10k−$790.794% of the position
Funding, last 7 days−1.426%−$143 on $10k
+Price spread, last 3 days (all we have)+0.221%+$22 · spread now −0.260%, 7d avg −0.103%
=Together, before fees−1.205%+ Points / potential airdropHibachi: Active · farm board−$120 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Hibachi is 0.158% cheaper against Kalshi than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.103%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kalshi KXHYPEPERP | 93.481 | 0.0117 | pay 0.0117% / 8h | 5h 06m | $1.9M | $5.2M | 2.3x |
| Short | Hibachi HYPE/USDT-P | 93.238 | −0.0416 | pay 0.0052% / 1h | 6m 13s | $197K | $229K | 7x |
Kalshi KXHYPEPERP
Hibachi HYPE/USDT-PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hibachi 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
- −$112.01
- Price spread: −0.260% → −0.103%
- −$15.76
- Slippage, 4 orders
- −$60.39
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Net
- −$207.15
- Costs to cover
- 0.794%
- Break-even
- never at this rate
Slippage from Kalshi: live order book, 2 min ago; Hibachi: live order book, 13 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, 2 min ago | 2.68 bp | 10.9 bp −$11 | 12.1 bp −$121 | 18.1 bp −$1,811 | doesn't fit |
| Sell Hibachi live order book, 13 min ago | 16.26 bp | 37.8 bp −$38 | 57.5 bp −$575 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps HYPEUSD | −0.0475% | 1h | 93.295 | −0.199% | $22K | $22K | 10x | as long as short |
| Hibachi HYPE/USDT-Pshort | −0.0416% | 1h | 93.238 | −0.260% | $197K | $229K | 7x | |
| Arcus HYPE-USD | −0.0131% | 1h | 93.355 | −0.135% | $1.2M | $3.9M | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0129% | 1h | 93.160 | −0.343% | $699K | $894K | 10x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.346 | −0.144% | $3K | $331 | 25x | as long as short |
| 01 Exchange HYPEUSD | −0.0024% | 1h | 93.463 | −0.019% | $91K | $358K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.390 | −0.097% | $127K | $32K | 5x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.394 | −0.093% | $23K | $330K | 10x | as long as short |
| Aster HYPEUSDT | +0.0002% | 4h | 93.433 | −0.051% | $8.9M | $35.7M | 300x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0002% | 1h | 93.460 | −0.022% | $27K | — | 150x | as long as short |
Aftermath Perps HYPEUSD
Arcus HYPE-USD
Ondo Perps HYPE-USD.P
Hotstuff HYPE-PERP
01 Exchange HYPEUSD
dYdX HYPE-USD
Perpl HYPE
Aster HYPEUSDT
gTrade (Gains Network) HYPE/USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Popdex HYPEUSDT | +0.0008% | 1h | 93.431 | −0.053% | $58K | $1.2M | 50x | as long as short |
| Orderly PERP_HYPE_USDC | +0.0016% | 4h | 93.429 | −0.056% | $176K | $524K | 20x | as long as short |
| Bybit HYPEUSDT | +0.0020% | 8h | 93.400 | −0.087% | $323.5M | $281.6M | 75x | as long as short |
| Phoenix HYPE | +0.0034% | 1h | 93.306 | −0.187% | $214K | $1.2M | 10x | as long as short |
| Bullet HYPE-USD | +0.0054% | 1h | 93.434 | −0.051% | $112K | $577K | 20x | as long as short |
| MEXC HYPE_USDT | +0.0060% | 4h | 93.417 | −0.068% | $90.3M | $82.4M | 100x | as long as short |
| Binance HYPEUSDT | +0.0061% | 4h | 93.441 | −0.043% | $383.5M | $886.3M | 75x | as long as short |
| Derive HYPE-PERP | +0.0061% | 1h | 93.381 | −0.107% | $16.3M | $7.0M | 10x | as long as short |
| Gate HYPE_USDT | +0.0062% | 4h | 93.414 | −0.072% | $44.1M | $58.8M | 75x | as long as short |
| edgeX HYPEUSDC | +0.0080% | 4h | 93.250 | −0.247% | $5.1M | $29.6M | 30x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.455 | −0.027% | $18.6M | $59.0M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.459 | −0.024% | $3.1M | $12.2M | 20x | as long as short |
| Aevo HYPE-PERP | +0.0096% | 1h | 93.434 | −0.051% | $397K | $318K | 20x | as long as short |
| Paradex HYPE-USD-PERP | +0.0099% | 8h | 93.417 | −0.068% | $339K | $170K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.390 | −0.097% | $35K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.430 | −0.054% | $5.9M | $44.1M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.426 | −0.059% | $2.03B | $661.6M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.431 | −0.054% | $10.1M | $14.5M | 20x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0100% | 8h | 93.393 | −0.094% | $114.2M | $312.5M | 50x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.438 | −0.046% | $47.1M | $18.4M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.438 | −0.046% | $226.7M | $102.6M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.399 | −0.088% | — | $53.8M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.435 | −0.049% | $7.9M | $10.6M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.212 | −0.287% | $30.8M | $51.9M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.317 | −0.175% | $7.5M | $45.6M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.303 | −0.190% | $415K | $1.0M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.230 | −0.269% | $674K | $2.5M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.422 | −0.063% | — | $454K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.448 | −0.035% | $494K | $2.5M | 20x | as long as short |
| Bluefin HYPE-PERP | +0.0100% | 1h | 93.437 | −0.047% | $76K | $166K | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.482 | +0.001% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.417 | −0.068% | $2.0M | $2.0M | 10x | as long as short |
| Phemex HYPEUSDT | +0.0100% | 8h | 93.384 | −0.104% | $12.7M | $2.6M | 50x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.280 | −0.215% | $204K | $8K | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.398 | −0.089% | $18.2M | $41.6M | 50x | as long as short |
| Kalshi KXHYPEPERPlong | +0.0117% | 8h | 93.481 | long leg | $1.9M | $5.2M | 2.3x | |
| Coinbase International HYPE-PERP-INTX | +0.0176% | 1h | 93.490 | +0.010% | $4.9M | $5.7M | 50x | as long as short |
| HTX HYPE-USDT | +0.0220% | 4h | 93.588 | +0.114% | $1.5M | $7.7M | 75x | as long as short |
| Injective HYPE/USDC PERP | +0.0239% | 1h | 93.530 | +0.052% | $30K | $338K | 12x | as long as short |
| BloFin HYPE-USDT | +0.0243% | 4h | 93.225 | −0.274% | $16.9M | $12.4M | 75x | as long as short |
| Reya HYPERUSDPERP | +0.0248% | 1h | 93.426 | −0.059% | $77K | $159K | 15x | as long as short |
| RISEx HYPE/USDC | +0.0280% | 1h | 93.477 | −0.004% | $2.7M | $6.8M | 20x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0340% / S −0.0165% | 1h | 93.453 | −0.029% | $1.4M | — | 100x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0371% | 1h | 93.517 | +0.039% | $7.4M | $4.5M | 50x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0464% | 1h | 93.534 | +0.057% | $20.9M | $28.9M | 50x | as long as short |
Popdex HYPEUSDT
Orderly PERP_HYPE_USDC
Bybit HYPEUSDT
Phoenix HYPE
Bullet HYPE-USD
MEXC HYPE_USDT
Binance HYPEUSDT
Derive HYPE-PERP
Gate HYPE_USDT
edgeX HYPEUSDC
Lighter HYPE
Lighter RH HYPE
Aevo HYPE-PERP
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
OKX HYPE-USDT-SWAP
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
Bluefin HYPE-PERP
SunX HYPE-USDT
SoDEX HYPE-USD
Phemex HYPEUSDT
Bulk HYPE-USD
Extended HYPE-USD
Coinbase International HYPE-PERP-INTX
HTX HYPE-USDT
Injective HYPE/USDC PERP
BloFin HYPE-USDT
Reya HYPERUSDPERP
RISEx HYPE/USDC
GMX HYPE/USD [WBTC.b-USDC]
Deribit HYPE_USDC-PERPETUAL
Kraken Futures PF_HYPEUSD