Funding you earn now, next payment 04:00 UTC+0.0159%/8h= +17.4% APRnext payment +$1.59 per $10,000 · paid last 24h −0.030%
Price spread now: Kalshi against Katana Perps+0.100%7-day average +0.053% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.094%−$9 on $10k
+Price spread, last 7 days+0.064%+$6 · spread now +0.100%, 7d avg +0.053%
=Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Kalshi is 0.047% dearer against Katana Perps than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.053%. Mind the row above: over the last 4 days funding on this pair cost −0.094%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Katana Perps HYPE-USD | 93.290 | 0.0100 | pay 0.0100% / 8h | 6h 44m | $35K | $1.6M | 10x |
| Short | Kalshi KXHYPEPERP | 93.383 | 0.0259 | get 0.0259% / 8h | 2h 44m | $1.9M | $5.2M | 2.3x |
Katana Perps HYPE-USD
Kalshi KXHYPEPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Katana Perps. 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
- $33.36
- Price spread: +0.100% → +0.053%
- $4.68
- Slippage, 4 orders
- no order book: not counted
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- $24.24
- Costs to cover
- 0.138%
- Break-even
- 1.9 days
Slippage unknown: Katana Perps: no order-book sample; Kalshi: live order book, 5 min ago. 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 Katana Perps no order-book sample | — | — | — | — | — |
| Sell Kalshi live order book, 5 min ago | 3.11 bp | 10.4 bp −$10 | 12.0 bp −$120 | 20.3 bp −$2,028 | doesn't fit |
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 | −0.1008% | 1h | 93.199 | −0.098% | $196K | $229K | 7x | as long as short |
| Arcus HYPE-USD | −0.0786% | 1h | 93.123 | −0.179% | $1.2M | $3.9M | 10x | as long as short |
| Aftermath Perps HYPEUSD | −0.0171% | 1h | 93.328 | +0.041% | $22K | $21K | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0128% | 1h | 93.120 | −0.182% | $698K | $976K | 10x | as long as short |
| Backpack HYPE_USDC_PERP | −0.0106% | 1h | 93.338 | +0.051% | $7.8M | $10.4M | 20x | as long as short |
| Gate HYPE_USDT | −0.0090% | 4h | 93.348 | +0.062% | $44.2M | $54.0M | 75x | as long as short |
| 01 Exchange HYPEUSD | −0.0080% | 1h | 93.300 | +0.011% | $84K | $361K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.214 | −0.081% | $3K | $331 | 25x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0054% | 4h | 93.305 | +0.016% | $156K | $652K | 20x | as long as short |
| Aster HYPEUSDT | −0.0034% | 4h | 93.342 | +0.055% | $8.9M | $36.3M | 300x | as long as short |
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Aftermath Perps HYPEUSD
Ondo Perps HYPE-USD.P
Backpack HYPE_USDC_PERP
Gate HYPE_USDT
01 Exchange HYPEUSD
Hotstuff HYPE-PERP
Orderly PERP_HYPE_USDC
Aster HYPEUSDTShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex HYPEUSDT | −0.0031% | 8h | 93.331 | +0.044% | $12.7M | $2.7M | 50x | as long as short |
| Bluefin HYPE-PERP | −0.0009% | 1h | 93.343 | +0.057% | $79K | $173K | 20x | as long as short |
| dYdX HYPE-USD | 0.0000% | 1h | 93.239 | −0.055% | $128K | $31K | 5x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.319 | +0.031% | $22K | $333K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0003% | 1h | 93.350 | +0.064% | $26K | — | 150x | as long as short |
| Bybit HYPEUSDT | +0.0007% | 8h | 93.370 | +0.086% | $319.4M | $283.3M | 75x | as long as short |
| BingX HYPE-USDT | +0.0018% | 4h | 93.349 | +0.063% | — | $54.3M | — | as long as short |
| Binance HYPEUSDT | +0.0041% | 4h | 93.365 | +0.081% | $379.9M | $905.3M | 75x | as long as short |
| MEXC HYPE_USDT | +0.0042% | 4h | 93.362 | +0.077% | $88.1M | $82.4M | 100x | as long as short |
| Bullet HYPE-USD | +0.0047% | 1h | 93.299 | +0.009% | $112K | $579K | 20x | as long as short |
| edgeX HYPEUSDC | +0.0059% | 4h | 93.354 | +0.069% | $5.1M | $30.0M | 30x | as long as short |
| Phoenix HYPE | +0.0060% | 1h | 93.190 | −0.107% | $212K | $1.2M | 10x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0064% | 8h | 93.362 | +0.077% | $115.1M | $315.6M | 50x | as long as short |
| Derive HYPE-PERP | +0.0065% | 1h | 93.316 | +0.028% | $16.2M | $7.6M | 10x | as long as short |
| Aevo HYPE-PERP | +0.0088% | 1h | 93.370 | +0.086% | $397K | $177K | 20x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.371 | +0.086% | $16.4M | $62.2M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.361 | +0.076% | $3.1M | $11.8M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.294 | +0.004% | $65K | $1.2M | 50x | as long as short |
| Paradex HYPE-USD-PERP | +0.0096% | 8h | 93.271 | −0.021% | $339K | $165K | 20x | as long as short |
| Katana Perps HYPE-USDlong | +0.0100% | 8h | 93.290 | long leg | $35K | $1.6M | 10x | |
| Nado HYPE-PERP | +0.0100% | 1h | 93.305 | +0.017% | $6.6M | $44.7M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.435 | +0.155% | $2.04B | $675.6M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.269 | −0.022% | $10.0M | $14.7M | 20x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.404 | +0.122% | $203K | $10K | 10x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.380 | +0.096% | $46.0M | $18.4M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.363 | +0.078% | $225.9M | $100.7M | 75x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.241 | −0.053% | $30.9M | $55.0M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.420 | +0.139% | $7.5M | $47.2M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 93.381 | +0.098% | $337K | $1.1M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.282 | −0.009% | $666K | $2.6M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.312 | +0.024% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.306 | +0.017% | $467K | $2.5M | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.280 | −0.011% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.356 | +0.071% | $2.0M | $2.0M | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.320 | +0.032% | $18.4M | $44.4M | 50x | as long as short |
| Coinbase International HYPE-PERP-INTX | +0.0136% | 1h | 93.260 | −0.032% | $4.9M | $5.5M | 50x | as long as short |
| Injective HYPE/USDC PERP | +0.0137% | 1h | 93.130 | −0.172% | $30K | $338K | 12x | as long as short |
| BloFin HYPE-USDT | +0.0175% | 4h | 93.407 | +0.125% | $17.0M | $12.1M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0210% | 1h | 93.298 | +0.009% | $2.7M | $6.7M | 20x | as long as short |
| HTX HYPE-USDT | +0.0249% | 4h | 93.500 | +0.225% | $1.4M | $6.1M | 75x | as long as short |
| Reya HYPERUSDPERP | +0.0254% | 1h | 93.281 | −0.010% | $79K | $142K | 15x | as long as short |
| Kalshi KXHYPEPERPshort | +0.0259% | 8h | 93.383 | +0.100% | $1.9M | $5.2M | 2.3x | |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0334% / S −0.0158% | 1h | 93.329 | +0.042% | $1.4M | — | 100x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0585% | 1h | 93.470 | +0.193% | $7.5M | $4.5M | 50x | as long as short |
| Kraken Futures PF_HYPEUSD | +0.0682% | 1h | 93.444 | +0.165% | $20.8M | $30.0M | 50x | as long as short |
Phemex HYPEUSDT
Bluefin HYPE-PERP
dYdX HYPE-USD
Perpl HYPE
gTrade (Gains Network) HYPE/USD
Bybit HYPEUSDT
BingX HYPE-USDT
Binance HYPEUSDT
MEXC HYPE_USDT
Bullet HYPE-USD
edgeX HYPEUSDC
Phoenix HYPE
OKX HYPE-USDT-SWAP
Derive HYPE-PERP
Aevo HYPE-PERP
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Paradex HYPE-USD-PERP
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
Bulk HYPE-USD
KuCoin HYPEUSDTM
Bitget HYPEUSDT
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
SunX HYPE-USDT
SoDEX HYPE-USD
Extended HYPE-USD
Coinbase International HYPE-PERP-INTX
Injective HYPE/USDC PERP
BloFin HYPE-USDT
RISEx HYPE/USDC
HTX HYPE-USDT
Reya HYPERUSDPERP
GMX HYPE/USD [WBTC.b-USDC]
Deribit HYPE_USDC-PERPETUAL
Kraken Futures PF_HYPEUSD