Funding you earn now, next payment 08:00 UTC−0.0288%/8h= −31.6% APRpaid last 24h −0.096%
Price spread now: Kalshi against Hyperliquid−0.495%7-day average −0.111% · you buy dearer than you sell
Net, funding: paid 7d − costs−$70as in the Funding arb table
Net, price: spread back to 7d avg − costs−$86as in the Price arb table
costs, in and out, $10k−$470.472% of the position
Funding, last 7 days−0.232%−$23 on $10k
+Price spread, last 7 days+0.452%+$45 · spread now −0.495%, 7d avg −0.111%
=Together, before fees+0.220%+ Points / potential airdropHyperliquid: Season 2 · farm board+$22 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Kalshi is 0.385% cheaper against Hyperliquid than usual: you would sell low and buy high (−$38 if the spread goes back to its 7-day average of −0.111%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid kSHIB | 0.000006056 | 0.0288 | pay 0.0036% / 1h | 42m 48s | $3.6M | $5.5M | 10x |
| Short | Kalshi KXKSHIBPERP | 0.000006026 | 0 | get 0.0000% / 8h | 4h 42m | $116K | $3.2M | 2x |
Hyperliquid kSHIB
Kalshi KXKSHIBPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Hyperliquid. 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
- −$60.56
- Price spread: −0.495% → −0.111%
- −$38.48
- Slippage, 4 orders
- −$28.16
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$146.21
- Costs to cover
- 0.472%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 9 min ago; Kalshi: live order book, 1 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 Hyperliquid live order book, 9 min ago | 0.83 bp | 10.2 bp −$10 | 17.5 bp −$175 | doesn't fit | doesn't fit |
| Sell Kalshi live order book, 1 min ago | 4.72 bp | 10.1 bp −$10 | 17.9 bp −$179 | doesn't fit | doesn't fit |
SHIB on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International 1000SHIB-PERP-INTX | −0.0016% | 1h | 0.000006025 | −0.512% | $117K | $1.6M | 50x | as long as short |
| Kalshi KXKSHIBPERPshort | 0.0000% | 8h | 0.000006026 | −0.495% | $116K | $3.2M | 2x | |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006024 | −0.520% | $570 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | −0.264% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDC | +0.0070% | 8h | 0.000006044 | −0.198% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006039 | −0.281% | $157K | $640K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006041 | −0.244% | $41K | $329K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006022 | −0.561% | $12K | $5K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006047 | −0.149% | $30.4M | $127.6M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006042 | −0.231% | $9.2M | $43.6M | 50x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDC
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIB
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006041 | −0.248% | $7.1M | $7.3M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006042 | −0.231% | $28.1M | $19.7M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006043 | −0.215% | $4.7M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006043 | −0.215% | $11.4M | $17.1M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006049 | −0.116% | $23K | $8K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006039 | −0.281% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006041 | −0.248% | $2K | $27K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006036 | −0.330% | $517 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006030 | −0.429% | $411K | $576K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006033 | −0.380% | $2.1M | $7.6M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0104% | 8h | 0.000006038 | −0.291% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006044 | −0.200% | $53K | $4K | 25x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0199% | 1h | 0.000006034 | −0.359% | $1.2M | $1.0M | 50x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0212% / S −0.2404% | 1h | 0.000006000 | −0.925% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006033 | −0.380% | $868K | $939K | 50x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0247% | 1h | 0.000006038 | −0.297% | $50K | $59K | 25x | as long as short |
| Hyperliquid kSHIBlong | +0.0288% | 1h | 0.000006056 | long leg | $3.6M | $5.5M | 10x | |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006027 | −0.475% | $1 | — | 20x | as long as short |
| dYdX SHIB-USD | +0.1733% | 1h | 0.000006029 | −0.449% | $36K | $70K | 10x | as long as short |
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Backpack kSHIB_USDC_PERP
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Kraken Futures PF_SHIBUSD
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Deribit 1000SHIB_USDC-PERPETUAL
Reya kSHIBRUSDPERP
dYdX SHIB-USD