Settings8H · net · $10k
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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0348%/8h= +38.1% APRpaid last 24h +0.028%
Price spread now: Kraken Futures against Kalshi+0.075%7-day average +0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$350.354% of the position
Long on KalshiShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.248%+$25 on $10k
Price spread, last 3 days (all we have)−0.170%−$17 · spread now +0.075%, 7d avg +0.008%
Together, before fees+0.078%+$8 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Kraken Futures is 0.067% dearer against Kalshi than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.008%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKalshi KXHYPEPERP93.2940.0117pay 0.0117% / 8h5h 14m$1.9M$5.3M2.3x
ShortKraken Futures PF_HYPEUSD93.3640.0465get 0.0058% / 1h14m 57s$20.9M$29.0M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures 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

Funding earned
$73.04
Price spread: +0.075% → +0.008%
$6.73
Slippage, 4 orders
−$15.41
Fee Kalshi: 5 bp × 2 orders
−$10
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$44.36
Costs to cover
0.354%
Break-even
2.7 days
Slippage from Kalshi: live order book, 4 min ago; Kraken Futures: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kalshi live order book, 4 min ago2.52 bp10.3 bp −$1011.4 bp −$11417.2 bp −$1,724doesn't fit
Sell Kraken Futures live order book, 4 min ago0.96 bp6.4 bp −$68.1 bp −$8115.9 bp −$1,58960.5 bp −$30.2K

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aftermath Perps HYPEUSD−0.0438%1h93.188−0.114%$22K$22K10xas long as short
Hibachi HYPE/USDT-P−0.0344%1h93.258−0.039%$197K$230K7xas long as short
Arcus HYPE-USD−0.0131%1h93.148−0.156%$1.2M$4.0M10xas long as short
Ondo Perps HYPE-USD.P−0.0126%1h93.170−0.133%$699K$931K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.195−0.106%$3K$33125xas long as short
01 Exchange HYPEUSD−0.0032%1h93.247−0.050%$90K$361K20xas long as short
Aster HYPEUSDT0.0000%4h93.272−0.024%$8.9M$35.9M300xas long as short
dYdX HYPE-USD0.0000%1h93.278−0.017%$127K$32K5xas long as short
Popdex HYPEUSDT0.0000%1h93.212−0.088%$58K$1.2M50xas long as short
Perpl HYPE0.0000%43m93.201−0.100%$23K$331K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.242−0.055%$27K—150xas long as short
Orderly PERP_HYPE_USDC+0.0020%4h93.218−0.081%$172K$517K20xas long as short
Bybit HYPEUSDT+0.0023%8h93.280−0.015%$323.2M$286.2M75xas long as short
Bullet HYPE-USD+0.0033%1h93.210−0.090%$112K$579K20xas long as short
Phoenix HYPE+0.0034%1h93.249−0.048%$214K$1.2M10xas long as short
Derive HYPE-PERP+0.0047%1h93.170−0.133%$16.3M$7.0M10xas long as short
Gate HYPE_USDT+0.0064%4h93.265−0.031%$44.0M$58.6M75xas long as short
MEXC HYPE_USDT+0.0064%4h93.274−0.021%$90.2M$82.3M100xas long as short
Binance HYPEUSDT+0.0065%4h93.269−0.027%$381.8M$894.1M75xas long as short
edgeX HYPEUSDC+0.0085%4h93.171−0.131%$5.1M$29.7M30xas long as short
Lighter HYPE+0.0096%1h93.299+0.006%$18.6M$59.0M20xas long as short
Lighter RH HYPE+0.0096%1h93.282−0.013%$3.1M$12.2M20xas long as short
Aevo HYPE-PERP+0.0096%1h93.217−0.082%$397K$318K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.209−0.091%$339K$170K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.210−0.090%$35K$1.6M10xas long as short
Nado HYPE-PERP+0.0100%1h93.209−0.091%$5.9M$44.1M10xas long as short
Hyperliquid HYPE+0.0100%1h93.295+0.001%$2.03B$669.4M10xas long as short
Pacifica HYPE+0.0100%1h93.233−0.065%$10.0M$14.4M20xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.277−0.018%$114.2M$314.0M50xas long as short
Bulk HYPE-USD+0.0100%1h93.232−0.066%$204K$8K10xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.269−0.027%$47.0M$18.7M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.263−0.033%$226.2M$103.0M75xas long as short
BingX HYPE-USDT+0.0100%4h93.271−0.025%—$53.8M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.265−0.031%$7.8M$10.7M20xas long as short
Variational Omni HYPE+0.0100%8h93.203−0.097%$29.0M$50.5M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.199−0.102%$7.5M$46.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.153−0.151%$414K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.239−0.059%$674K$2.5M20xas long as short
Vest HYPE-PERP+0.0100%1h93.247−0.050%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.238−0.060%$493K$2.5M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.204−0.096%$76K$168K20xas long as short
SunX HYPE-USDT+0.0100%4h93.249−0.048%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.243−0.055%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.215−0.085%$12.7M$2.6M50xas long as short
Extended HYPE-USD+0.0104%1h93.232−0.066%$18.2M$41.8M50xas long as short
Kalshi KXHYPEPERPlong+0.0117%8h93.294long leg$1.9M$5.3M2.3x
Coinbase International HYPE-PERP-INTX+0.0176%1h93.310+0.017%$4.9M$5.7M50xas long as short
HTX HYPE-USDT+0.0232%4h93.405+0.119%$1.5M$7.7M75xas long as short
Injective HYPE/USDC PERP+0.0239%1h93.140−0.165%$30K$338K12xas long as short
Reya HYPERUSDPERP+0.0247%1h93.204−0.096%$77K$159K15xas long as short
BloFin HYPE-USDT+0.0260%4h93.211−0.089%$16.8M$12.4M75xas long as short
RISEx HYPE/USDC+0.0280%1h93.271−0.024%$2.7M$6.8M20xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0339% / S −0.0165%1h93.237−0.061%$1.4M—100xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0340%1h93.326+0.034%$7.4M$4.6M50xas long as short
Kraken Futures PF_HYPEUSDshort+0.0465%1h93.364+0.075%$20.9M$29.0M50x