HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.007%

Price spread now: Katana Perps against Kalshi−0.069%7-day average −0.050% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kalshi Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.072%+$7 on $10k

Price spread, last 7 days−0.007%−$1 · spread now −0.069%, 7d avg −0.050%

Together, before fees+0.065%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.050%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXHYPEPERP	94.255	0	get 0.0000% / 8h	5h 05m	$1.8M	$5.6M	2.3x
Short	Katana Perps HYPE-USD	94.190	0.0100	get 0.0100% / 8h	1h 05m	$15K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now −0.069%Rate

Funding earned: $20.92
Price spread: −0.069% → −0.050%: −$1.94
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $5.18
Costs to cover: 0.138%
Break-even: 5.3 days

Slippage unknown: Kalshi: live order book, 4 min ago; Katana Perps: no order-book sample. Net counts fees only.

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	2.33 bp	7.7 bp −$8	12.0 bp −$120	17.5 bp −$1,754	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1096%	1h	94.278	+0.024%	$201K	$236K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0158%	1h	94.294	+0.041%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0099%	1h	94.130	−0.133%	$710K	$1.2M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.373	+0.125%	$3K	$331	25x	as long as short
Bullet HYPE-USD	−0.0070%	1h	94.180	−0.080%	$111K	$578K	20x	as long as short
Bluefin HYPE-PERP	−0.0060%	1h	94.120	−0.143%	$80K	$155K	20x	as long as short
01 Exchange HYPEUSD	−0.0048%	1h	94.170	−0.090%	$87K	$366K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0009%	4h	94.127	−0.136%	$146K	$685K	20x	as long as short
Bybit HYPEUSDT	−0.0006%	8h	94.145	−0.117%	$317.2M	$289.5M	75x	as long as short
BingX HYPE-USDT	−0.0004%	4h	94.149	−0.112%	—	$53.5M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX HYPE-USD	0.0000%	1h	94.178	−0.081%	$129K	$26K	5x	as long as short
Kalshi KXHYPEPERPlong	0.0000%	8h	94.255	long leg	$1.8M	$5.6M	2.3x
Perpl HYPE	0.0000%	43m	94.421	+0.176%	$19K	$287K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.195	−0.064%	$117K	—	150x	as long as short
Derive HYPE-PERP	+0.0003%	1h	94.317	+0.066%	$16.4M	$7.5M	10x	as long as short
Phoenix HYPE	+0.0017%	1h	94.223	−0.034%	$206K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0050%	4h	94.144	−0.118%	$226.6M	$99.9M	75x	as long as short
Phemex HYPEUSDT	+0.0058%	8h	94.191	−0.068%	$12.8M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0066%	8h	94.252	−0.003%	$337K	$156K	20x	as long as short
Arcus HYPE-USD	+0.0084%	1h	94.142	−0.120%	$1.0M	$3.5M	10x	as long as short
edgeX HYPEUSDC	+0.0085%	4h	94.169	−0.091%	$5.0M	$30.7M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0093%	8h	94.153	−0.108%	$117.0M	$320.9M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.162	−0.099%	$16.3M	$64.5M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.164	−0.097%	$3.2M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.145	−0.117%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USDshort	+0.0100%	8h	94.190	−0.069%	$15K	$1.7M	10x
Nado HYPE-PERP	+0.0100%	1h	94.144	−0.117%	$7.3M	$50.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.259	+0.004%	$2.07B	$688.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.167	−0.093%	$8.8M	$37.2M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.212	−0.046%	$10.2M	$15.5M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.153	−0.108%	$376.8M	$932.1M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.183	−0.076%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	94.151	−0.110%	$49.3M	$57.1M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.154	−0.107%	$89.8M	$85.4M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.169	−0.091%	$46.9M	$18.6M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.153	−0.108%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.239	−0.017%	$29.1M	$55.3M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.264	+0.010%	$7.6M	$46.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.207	−0.051%	$362K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.384	+0.137%	$682K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.257	+0.002%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.180	−0.080%	$495K	$2.8M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.199	−0.059%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.154	−0.107%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.315	+0.064%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.119	−0.145%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.193	−0.065%	$398K	$159K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	94.190	−0.069%	$4.7M	$6.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0151% / S +0.0022%	1h	94.220	−0.037%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.550	+0.313%	$31K	$340K	12x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0206%	1h	94.253	−0.002%	$7.4M	$4.3M	50x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.133	−0.130%	$82K	$134K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.149	−0.112%	$17.0M	$12.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0413%	1h	94.216	−0.042%	$20.2M	$30.3M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	94.194	−0.065%	$3.2M	$6.4M	20x	as long as short