HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0020%/8h= −2.2% APRnext payment −$0.20 per $10,000 · paid last 24h +0.010%

Price spread now: Paradex against Kalshi−0.079%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on Kalshi Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.088%+$9 on $10k

Price spread, last 4 days (all we have)+0.155%+$16 · spread now −0.079%, 7d avg −0.009%

Together, before fees+0.243%+ Points / potential airdropParadex: Active · farm board+$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Paradex is 0.069% cheaper against Kalshi than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.009%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.088%, 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	93.901	0.0110	pay 0.0110% / 8h	5h 55m	$1.8M	$5.6M	2.3x
Short	Paradex HYPE-USD-PERP	93.827	0.0090	get 0.0090% / 8h	1h 55m	$341K	$158K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.079%Rate

Funding earned: −$4.17
Price spread: −0.079% → −0.009%: −$6.93
Slippage, 4 orders: −$19.74
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$44.84
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from Kalshi: live order book, 3 min ago; Paradex: live order book, 54 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, 3 min ago	2.50 bp	12.1 bp −$12	13.7 bp −$137	19.4 bp −$1,936	doesn't fit
Sell Paradex live order book, 54 min ago	3.73 bp	5.7 bp −$6	9.0 bp −$90	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	−0.1224%	1h	93.798	−0.109%	$199K	$243K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0272%	1h	94.032	+0.139%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.992	+0.097%	$3K	$331	25x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.770	−0.140%	$86K	$372K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0044%	1h	93.730	−0.182%	$707K	$1.2M	10x	as long as short
Orderly PERP_HYPE_USDC	−0.0017%	4h	93.765	−0.145%	$149K	$680K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.813	−0.094%	$129K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.831	−0.074%	$22K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.823	−0.083%	$63K	—	150x	as long as short
Bluefin HYPE-PERP	+0.0003%	1h	93.785	−0.124%	$79K	$166K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	+0.0012%	4h	93.781	−0.128%	—	$53.8M	—	as long as short
Bybit HYPEUSDT	+0.0016%	8h	93.745	−0.166%	$316.8M	$287.3M	75x	as long as short
Phoenix HYPE	+0.0026%	1h	93.872	−0.031%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	93.798	−0.110%	$226.0M	$99.4M	75x	as long as short
Phemex HYPEUSDT	+0.0060%	8h	93.818	−0.088%	$12.8M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.922	+0.022%	$5.0M	$30.4M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.759	−0.151%	$1.0M	$4.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0089%	1h	93.802	−0.105%	$348K	$1.0M	50x	as long as short
Paradex HYPE-USD-PERPshort	+0.0090%	8h	93.827	−0.079%	$341K	$158K	20x
Lighter HYPE	+0.0096%	1h	93.785	−0.123%	$16.2M	$63.2M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.794	−0.114%	$3.1M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.750	−0.161%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.750	−0.161%	$20K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.794	−0.113%	$6.3M	$50.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.884	−0.018%	$2.05B	$683.0M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.761	−0.149%	$8.9M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.818	−0.088%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.763	−0.147%	$376.0M	$929.1M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.775	−0.134%	$115.8M	$316.6M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.213	+0.333%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.770	−0.140%	$48.3M	$54.8M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.779	−0.130%	$89.0M	$83.0M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.795	−0.113%	$46.3M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.817	−0.089%	$7.2M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.759	−0.152%	$28.7M	$56.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.839	−0.066%	$7.7M	$47.9M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.875	−0.028%	$680K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.871	−0.032%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.818	−0.088%	$476K	$2.8M	20x	as long as short
Bullet HYPE-USD	+0.0100%	1h	93.804	−0.103%	$112K	$581K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.774	−0.135%	$16.4M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.893	−0.009%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.779	−0.130%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.965	+0.068%	$1.4M	$6.6M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.739	−0.172%	$18.3M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.797	−0.111%	$396K	$159K	20x	as long as short
Kalshi KXHYPEPERPlong	+0.0110%	8h	93.901	long leg	$1.8M	$5.6M	2.3x
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.870	−0.033%	$4.7M	$6.1M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.760	−0.150%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0270%	1h	93.794	−0.114%	$77K	$130K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0315%	1h	93.888	−0.014%	$7.4M	$4.2M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	93.819	−0.087%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.808	−0.099%	$17.1M	$12.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0414%	1h	93.865	−0.039%	$20.9M	$29.6M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.798	−0.109%	$3.2M	$6.4M	20x	as long as short