HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0093%/8h= +10.2% APRnext payment +$0.93 per $10,000 · paid last 24h +0.013%

Price spread now: Kalshi against Bybit−0.053%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$350.354% of the position

Long on Bybit Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 7 days+0.096%+$10 · spread now −0.053%, 7d avg +0.023%

Together, before fees−0.010%−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kalshi is 0.076% cheaper against Bybit than usual: you would sell low and buy high (spread −0.053% now, against its 7-day average of +0.023%). If the spread goes back, that is −$8 on $10k: about 2.7 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.106%, 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	Bybit HYPEUSDT	93.780	0.0015	pay 0.0015% / 8h	1h 53m	$316.9M	$287.6M	75x
Short	Kalshi KXHYPEPERP	93.730	0.0108	get 0.0108% / 8h	5h 53m	$1.8M	$5.6M	2.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Bybit. 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 BybitbpFee KalshibpOrdersPrice spread, now −0.053%Rate

Funding earned: $19.6
Price spread: −0.053% → +0.023%: −$7.59
Slippage, 4 orders: −$14.38
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$23.37
Costs to cover: 0.354%
Break-even: 15.3 days

Slippage from Bybit: live order book, 5 min ago; Kalshi: live order book, 5 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 Bybit live order book, 5 min ago	0.53 bp	6.0 bp −$6	7.4 bp −$74	15.4 bp −$1,545	50.1 bp −$25.1K
Sell Kalshi live order book, 5 min ago	2.50 bp	10.1 bp −$10	11.5 bp −$115	19.0 bp −$1,899	doesn't fit

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	−0.1200%	1h	93.699	−0.087%	$199K	$243K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0272%	1h	93.953	+0.184%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0162%	1h	93.650	−0.139%	$707K	$1.2M	10x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.763	−0.018%	$86K	$372K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.750	−0.032%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0018%	4h	93.707	−0.078%	$149K	$681K	20x	as long as short
Bluefin HYPE-PERP	−0.0010%	1h	93.757	−0.025%	$79K	$166K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.724	−0.060%	$129K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.751	−0.030%	$22K	$285K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.767	−0.013%	$63K	—	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX HYPE-USDT	+0.0012%	4h	93.806	+0.028%	—	$53.8M	—	as long as short
Bybit HYPEUSDTlong	+0.0015%	8h	93.780	long leg	$316.9M	$287.6M	75x
Phoenix HYPE	+0.0026%	1h	93.872	+0.098%	$209K	$1.1M	10x	as long as short
Bitget HYPEUSDT	+0.0040%	4h	93.814	+0.036%	$226.0M	$99.5M	75x	as long as short
Bullet HYPE-USD	+0.0042%	1h	93.743	−0.039%	$111K	$581K	20x	as long as short
Phemex HYPEUSDT	+0.0070%	8h	93.781	+0.001%	$12.8M	$2.8M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.922	+0.151%	$5.0M	$30.4M	30x	as long as short
Arcus HYPE-USD	+0.0084%	1h	93.674	−0.113%	$1.0M	$4.0M	10x	as long as short
Paradex HYPE-USD-PERP	+0.0088%	8h	93.680	−0.107%	$340K	$158K	20x	as long as short
ApeX Omni HYPEUSDT	+0.0089%	1h	93.802	+0.023%	$348K	$1.0M	50x	as long as short
Lighter HYPE	+0.0096%	1h	93.735	−0.048%	$16.1M	$63.4M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.753	−0.029%	$3.1M	$11.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.760	−0.021%	$78K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.710	−0.075%	$20K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.757	−0.025%	$6.7M	$50.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.902	+0.130%	$2.06B	$681.1M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.810	+0.032%	$8.9M	$37.3M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.676	−0.111%	$10.1M	$15.4M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.819	+0.042%	$376.2M	$929.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.802	+0.023%	$115.8M	$316.8M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.213	+0.462%	$217K	$15K	10x	as long as short
Gate HYPE_USDT	+0.0100%	4h	93.800	+0.021%	$48.4M	$54.9M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.809	+0.031%	$89.0M	$83.1M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.815	+0.037%	$46.3M	$18.9M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.778	−0.002%	$7.2M	$10.8M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.759	−0.023%	$28.7M	$56.1M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.839	+0.063%	$7.7M	$47.9M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.798	+0.019%	$679K	$2.8M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.794	+0.015%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.741	−0.042%	$469K	$2.8M	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.723	−0.060%	$16.4M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.816	+0.038%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.740	−0.043%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.895	+0.123%	$1.4M	$6.7M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.773	−0.007%	$18.2M	$43.3M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.735	−0.048%	$396K	$159K	20x	as long as short
Kalshi KXHYPEPERPshort	+0.0108%	8h	93.730	−0.053%	$1.8M	$5.6M	2.3x
Coinbase International HYPE-PERP-INTX	+0.0120%	1h	93.760	−0.021%	$4.7M	$6.1M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.740	−0.043%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0271%	1h	93.722	−0.062%	$77K	$130K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0154%	1h	93.769	−0.012%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.752	−0.030%	$17.0M	$12.2M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0358%	1h	93.843	+0.067%	$7.4M	$4.2M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0415%	1h	93.808	+0.030%	$20.9M	$29.6M	50x	as long as short
RISEx HYPE/USDC	+0.0559%	1h	93.752	−0.030%	$3.2M	$6.4M	20x	as long as short