Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0113%/8h= −12.3% APRpaid last 24h +0.026%

Price spread now: Vest against Kalshi−0.048%7-day average −0.039% · you buy dearer than you sell

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

Long on Kalshi Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 3 days (all we have)−0.017%−$2 · spread now −0.048%, 7d avg −0.039%

Together, before fees−0.046%+ Points / potential airdropVest: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.039%, 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	94.344	0.0213	pay 0.0213% / 8h	3h 34m	$1.9M	$5.1M	2.3x
Short	Vest HYPE-PERP	94.299	0.0100	get 0.0013% / 1h	34m 09s	—	$252K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Kalshi. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$23.66
Price spread: −0.048% → −0.039%: −$0.94
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Vest: 1 bp × 2 orders: −$2
Net: −$36.6
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Kalshi: live order book, 4 min ago; Vest: 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	2.60 bp	7.7 bp −$8	11.2 bp −$112	16.7 bp −$1,674	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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	−0.1448%	1h	94.155	−0.201%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	94.173	−0.181%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0263%	1h	94.176	−0.178%	$22K	$23K	10x	as long as short
Phemex HYPEUSDT	−0.0259%	8h	94.233	−0.118%	$12.8M	$2.6M	50x	as long as short
dYdX HYPE-USD	−0.0178%	1h	94.245	−0.105%	$129K	$31K	5x	as long as short
Ondo Perps HYPE-USD.P	−0.0152%	1h	94.200	−0.153%	$710K	$947K	10x	as long as short
Bullet HYPE-USD	−0.0090%	1h	94.274	−0.074%	$113K	$580K	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	94.293	−0.054%	$86K	$361K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.272	−0.076%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0013%	4h	94.276	−0.072%	$161K	$634K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0013%	8h	94.250	−0.100%	$323.8M	$280.7M	75x	as long as short
Perpl HYPE	0.0000%	43m	94.304	−0.043%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.303	−0.043%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0024%	4h	94.284	−0.064%	$8.9M	$36.1M	300x	as long as short
Gate HYPE_USDT	+0.0030%	4h	94.274	−0.074%	$44.6M	$59.6M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	94.173	−0.181%	$219K	$1.2M	10x	as long as short
Derive HYPE-PERP	+0.0048%	1h	94.238	−0.113%	$16.5M	$7.3M	10x	as long as short
MEXC HYPE_USDT	+0.0050%	4h	94.282	−0.066%	$89.5M	$82.4M	100x	as long as short
Binance HYPEUSDT	+0.0051%	4h	94.271	−0.077%	$384.5M	$893.6M	75x	as long as short
edgeX HYPEUSDC	+0.0058%	4h	94.030	−0.333%	$5.1M	$29.8M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0082%	8h	94.275	−0.073%	$116.4M	$319.7M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.331	−0.014%	$19.1M	$58.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.295	−0.052%	$3.1M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.279	−0.069%	$63K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.266	−0.083%	$401K	$188K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.301	−0.046%	$343K	$170K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.280	−0.068%	$24K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.279	−0.068%	$6.7M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.370	+0.028%	$2.06B	$676.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.289	−0.058%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.292	−0.055%	$46.7M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	94.282	−0.066%	$228.7M	$100.9M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.272	−0.076%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.291	−0.056%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.220	−0.131%	$31.8M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.045	−0.317%	$7.6M	$45.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.252	−0.098%	$341K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.262	−0.087%	$682K	$2.5M	20x	as long as short
Vest HYPE-PERPshort	+0.0100%	1h	94.299	−0.048%	—	$252K	5x
Polymarket Perps HYPE-USD	+0.0100%	1h	94.296	−0.051%	$481K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	94.279	−0.069%	$77K	$171K	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.356	+0.013%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.262	−0.087%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.120	−0.237%	$205K	$4K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.263	−0.085%	$19.1M	$44.2M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.310	−0.036%	$5.0M	$5.5M	50x	as long as short
BloFin HYPE-USDT	+0.0204%	4h	94.247	−0.103%	$17.0M	$12.3M	75x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.490	+0.155%	$31K	$338K	12x	as long as short
Kalshi KXHYPEPERPlong	+0.0213%	8h	94.344	long leg	$1.9M	$5.1M	2.3x
RISEx HYPE/USDC	+0.0222%	1h	94.323	−0.022%	$2.8M	$6.7M	20x	as long as short
Reya HYPERUSDPERP	+0.0251%	1h	94.274	−0.074%	$79K	$145K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0153%	1h	94.302	−0.044%	$1.5M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0429%	1h	94.373	+0.031%	$7.5M	$4.7M	50x	as long as short
HTX HYPE-USDT	+0.0448%	4h	94.450	+0.112%	$1.5M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0669%	1h	94.348	+0.005%	$21.1M	$29.7M	50x	as long as short