Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0262%/8h= +28.7% APRpaid last 24h +0.024%

Price spread now: Kalshi against Aftermath Perps+0.019%7-day average — · you sell dearer than you buy

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

Long on Aftermath Perps Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps HYPEUSD	92.888	−0.0262	get 0.0033% / 1h	44m 52s	$22K	$21K	10x
Short	Kalshi KXHYPEPERP	92.906	0	get 0.0000% / 8h	7h 44m	$1.8M	$5.4M	2.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Aftermath Perps. 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 Aftermath PerpsbpFee KalshibpOrdersPrice spread, now +0.019%Rate

Funding earned: $55.04
Price spread: +0.019% → 0.000%: $1.89
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $37.93
Costs to cover: 0.190%
Break-even: 2.2 days

Slippage unknown: Aftermath Perps: no order-book sample; Kalshi: live order book, 4 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 4 min ago	3.33 bp	11.9 bp −$12	13.3 bp −$133	19.5 bp −$1,950	doesn't fit

Aftermath 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	−0.0904%	1h	92.783	−0.114%	$193K	$229K	7x	as long as short
Aftermath Perps HYPEUSDlong	−0.0262%	1h	92.888	long leg	$22K	$21K	10x
Arcus HYPE-USD	−0.0194%	1h	92.774	−0.123%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.917	+0.031%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0062%	4h	92.859	−0.032%	$158K	$665K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.854	−0.037%	$127K	$29K	5x	as long as short
Kalshi KXHYPEPERPshort	0.0000%	8h	92.906	+0.019%	$1.8M	$5.4M	2.3x
Perpl HYPE	0.0000%	43m	92.845	−0.047%	$22K	$301K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.856	−0.035%	$62K	—	150x	as long as short
Bullet HYPE-USD	+0.0006%	1h	92.778	−0.119%	$112K	$578K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HYPE_USDT	+0.0008%	4h	92.848	−0.044%	$44.7M	$53.8M	75x	as long as short
Ondo Perps HYPE-USD.P	+0.0019%	1h	92.820	−0.074%	$698K	$1.1M	10x	as long as short
Phoenix HYPE	+0.0026%	1h	92.899	+0.011%	$210K	$1.2M	10x	as long as short
Bybit HYPEUSDT	+0.0032%	8h	92.842	−0.050%	$316.0M	$282.7M	75x	as long as short
01 Exchange HYPEUSD	+0.0048%	1h	92.837	−0.055%	$87K	$362K	20x	as long as short
Phemex HYPEUSDT	+0.0051%	8h	92.884	−0.005%	$12.5M	$2.7M	50x	as long as short
Bitget HYPEUSDT	+0.0074%	4h	92.847	−0.045%	$224.9M	$99.1M	75x	as long as short
Popdex HYPEUSDT	+0.0088%	1h	92.804	−0.091%	$70K	$1.1M	50x	as long as short
Aster HYPEUSDT	+0.0090%	4h	92.859	−0.032%	$8.7M	$36.1M	300x	as long as short
Lighter HYPE	+0.0096%	1h	92.876	−0.013%	$16.1M	$62.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.877	−0.012%	$3.1M	$11.6M	20x	as long as short
Paradex HYPE-USD-PERP	+0.0097%	8h	92.824	−0.069%	$339K	$163K	20x	as long as short
edgeX HYPEUSDC	+0.0099%	4h	92.872	−0.018%	$4.9M	$29.6M	30x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.800	−0.095%	$39K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.805	−0.090%	$7.4M	$45.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.898	+0.010%	$2.02B	$665.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.822	−0.072%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.858	−0.033%	$373.4M	$904.2M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	92.856	−0.035%	$113.9M	$304.4M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.942	+0.057%	$202K	$13K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.858	−0.033%	$87.3M	$80.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.867	−0.023%	$46.0M	$18.4M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	92.860	−0.031%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.880	−0.009%	$7.3M	$11.3M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	92.879	−0.010%	$28.6M	$57.4M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.944	+0.060%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.852	−0.039%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.859	−0.032%	$667K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.866	−0.024%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.839	−0.053%	$468K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.849	−0.043%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.829	−0.064%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.805	−0.090%	$31K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.868	−0.022%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.832	−0.060%	$18.0M	$43.6M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.870	−0.020%	$393K	$164K	20x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	92.880	−0.009%	$4.7M	$5.6M	50x	as long as short
HTX HYPE-USDT	+0.0164%	4h	93.064	+0.189%	$1.4M	$6.3M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0197%	1h	92.930	+0.045%	$20.6M	$30.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	92.740	−0.160%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0264%	1h	92.794	−0.102%	$79K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.820	−0.074%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.796	−0.100%	$16.7M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0407%	1h	92.954	+0.071%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	92.871	−0.019%	$3.1M	$6.4M	20x	as long as short