Funding you earn now, next payment 09:00 UTC−0.0130%/8h= −14.3% APRpaid last 24h −0.044%
Price spread now: Kalshi against Hyperliquid+0.076%46s7-day average −0.054% · you sell dearer than you buy
Net, funding: paid 7d − costs−$47as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$340.336% of the position
Funding, last 7 days−0.134%−$13 on $10k
+Price spread, last 7 days−0.096%−$10 · spread now +0.076%, 7d avg −0.054%
=Together, before fees−0.230%+ Points / potential airdropHyperliquid: Season 2 · farm board−$23 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kalshi is 0.130% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.076% now, against its 7-day average of −0.054%): +$13 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.3 days. At the pace of the last 7 days (−0.134% in total) that is about 6.8 days. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ADA | 0.2500 | 0.0130 | pay 0.0016% / 1h | 0m 27s | $44.5M | $18.7M | 10x |
| Short | Kalshi KXADAPERP | 0.2502 | 0 | get 0.0000% / 8h | 3h 00m | $217K | $7.7M | 3.2x |
Hyperliquid ADA
Kalshi KXADAPERPFunding 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
- −$27.4
- Price spread: +0.076% → −0.054%
- $13.05
- Slippage, 4 orders
- −$14.59
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$47.95
- Costs to cover
- 0.336%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 3 min ago; Kalshi: live order book, 3 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, 3 min ago | 0.60 bp | 7.5 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kalshi live order book, 3 min ago | 2.00 bp | 7.3 bp −$7 | 16.4 bp −$164 | doesn't fit | doesn't fit |
ADA on 36 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 | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXADAPERPshort | 0.0000% | 8h | 0.2502 | +0.076% | $217K | $7.7M | 3.2x | |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2497 | −0.112% | $86K | — | 150x | as long as short |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | −1.164% | $849 | $202K | 12x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2499 | −0.052% | $2.4M | $1.1M | 10x | as long as short |
| Aster ADAUSDT | +0.0100% | 8h | 0.2498 | −0.064% | $1.2M | $1.2M | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2498 | −0.091% | $160K | $180K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2498 | −0.084% | $106.2M | $398.1M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2496 | −0.164% | $75.2M | $125.7M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2498 | −0.084% | $33.3M | $116.4M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2496 | −0.164% | $102.8M | $64.0M | 75x | as long as short |
gTrade (Gains Network) ADA/USD
Injective ADA/USDC PERP
Lighter ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDT
Bybit ADAUSDT
OKX ADA-USDT-SWAP
Gate ADA_USDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ADA_USDT | +0.0100% | 8h | 0.2498 | −0.084% | $58.7M | $69.9M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2497 | −0.104% | $30.2M | $15.8M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2498 | −0.084% | $68.2M | $52.8M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2497 | −0.124% | — | $6.6M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2499 | −0.060% | $147K | $467K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2496 | −0.162% | $4.2M | $1.1M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2497 | −0.134% | $66K | $289K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2497 | −0.108% | $295K | $3.7M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2496 | −0.164% | $75K | $897K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2498 | −0.100% | $118K | $1.3M | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2498 | −0.084% | $6K | $5K | 20x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2501 | +0.043% | $8K | $720K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2500 | +0.016% | $344 | $6K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2501 | +0.041% | $1.3M | $7.2M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2500 | −0.004% | $48.3M | $7.7M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0103% | 8h | 0.2498 | −0.097% | $21K | — | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2498 | −0.092% | $548K | $1.8M | 50x | as long as short |
| Hyperliquid ADAlong | +0.0130% | 1h | 0.2500 | long leg | $44.5M | $18.7M | 10x | |
| Coinbase International ADA-PERP-INTX | +0.0152% | 1h | 0.2503 | +0.116% | $376K | $8.5M | 50x | as long as short |
| Phoenix ADA | +0.0163% | 1h | 0.2497 | −0.116% | $3K | $113K | 10x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0195% | 1h | 0.2500 | −0.014% | $6.4M | $13.9M | 50x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2503 | +0.116% | $4.6M | $5.7M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0271% | 1h | 0.2499 | −0.046% | $1K | — | 15x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0371% / S −0.0295% | 1h | 0.2500 | −0.011% | $89K | — | 100x | as long as short |
| dYdX ADA-USD | +0.0459% | 1h | 0.2498 | −0.100% | $209K | $5K | 10x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0470% | 1h | 0.2502 | +0.064% | $639K | $735K | 50x | as long as short |
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDC
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Paradex ADA-USD-PERP
Extended ADA-USD
Coinbase International ADA-PERP-INTX
Phoenix ADA
Kraken Futures PF_ADAUSD
BloFin ADA-USDT
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]
dYdX ADA-USD
Deribit ADA_USDC-PERPETUAL