Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0439%/8h= −48.1% APRpaid last 24h +0.023%

Price spread now: Aftermath Perps against Kalshi−0.003%7-day average — · you buy dearer than you sell

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

Long on Kalshi Short on Aftermath Perps

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: −$13 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXHYPEPERP	93.912	0.0246	pay 0.0246% / 8h	3h 04m	$1.9M	$5.1M	2.3x
Short	Aftermath Perps HYPEUSD	93.910	−0.0194	pay 0.0024% / 1h	4m 13s	$22K	$21K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Kalshi. 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 KalshibpFee Aftermath PerpsbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$92.27
Price spread: −0.003% → 0.000%: −$0.26
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$111.53
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Kalshi: live order book, 4 min ago; Aftermath Perps: no order-book sample. 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 Kalshi live order book, 4 min ago	3.14 bp	9.1 bp −$9	11.4 bp −$114	17.3 bp −$1,734	doesn't fit
Sell Aftermath Perps no order-book sample	—	—	—	—	—

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	−0.1120%	1h	93.756	−0.166%	$198K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.785	−0.135%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSDshort	−0.0194%	1h	93.910	−0.003%	$22K	$21K	10x
Ondo Perps HYPE-USD.P	−0.0090%	1h	93.810	−0.109%	$710K	$958K	10x	as long as short
dYdX HYPE-USD	−0.0081%	1h	93.953	+0.044%	$129K	$31K	5x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.884	−0.030%	$86K	$359K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.912	0.000%	$3K	$331	25x	as long as short
Phemex HYPEUSDT	−0.0073%	8h	93.801	−0.118%	$12.8M	$2.6M	50x	as long as short
Bullet HYPE-USD	−0.0046%	1h	93.872	−0.043%	$113K	$580K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0035%	4h	93.840	−0.077%	$159K	$643K	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	−0.0014%	4h	93.870	−0.045%	$44.5M	$60.4M	75x	as long as short
Perpl HYPE	0.0000%	43m	93.919	+0.007%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.898	−0.015%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0004%	4h	93.849	−0.067%	$8.9M	$36.0M	300x	as long as short
Derive HYPE-PERP	+0.0016%	1h	93.810	−0.109%	$16.4M	$7.6M	10x	as long as short
Bybit HYPEUSDT	+0.0025%	8h	93.786	−0.134%	$322.6M	$278.6M	75x	as long as short
Phoenix HYPE	+0.0034%	1h	94.045	+0.142%	$214K	$1.2M	10x	as long as short
MEXC HYPE_USDT	+0.0054%	4h	93.883	−0.031%	$88.3M	$83.4M	100x	as long as short
Binance HYPEUSDT	+0.0054%	4h	93.856	−0.060%	$383.3M	$893.4M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0071%	8h	93.771	−0.150%	$116.0M	$314.3M	50x	as long as short
edgeX HYPEUSDC	+0.0074%	4h	93.859	−0.057%	$5.1M	$29.7M	30x	as long as short
Bluefin HYPE-PERP	+0.0076%	1h	93.841	−0.076%	$76K	$170K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.866	−0.049%	$18.9M	$60.8M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.839	−0.078%	$3.0M	$12.2M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.881	−0.033%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	93.851	−0.065%	$399K	$180K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	93.983	+0.075%	$341K	$165K	20x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.900	−0.013%	$31K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.927	+0.016%	$6.6M	$44.6M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.942	+0.032%	$2.05B	$668.8M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.935	+0.024%	$10.1M	$14.7M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.897	−0.016%	$46.6M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.844	−0.072%	$227.2M	$100.2M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.880	−0.034%	—	$53.9M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.767	−0.154%	$7.9M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.768	−0.154%	$31.3M	$53.6M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.999	+0.093%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.020	+0.115%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.827	−0.091%	$670K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.910	−0.003%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.906	−0.006%	$474K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.940	+0.030%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.824	−0.094%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.894	−0.019%	$204K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.803	−0.116%	$18.4M	$45.0M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.900	−0.013%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	93.760	−0.162%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0216%	4h	93.818	−0.100%	$17.1M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	93.933	+0.022%	$2.7M	$6.7M	20x	as long as short
Kalshi KXHYPEPERPlong	+0.0246%	8h	93.912	long leg	$1.9M	$5.1M	2.3x
Reya HYPERUSDPERP	+0.0252%	1h	93.873	−0.042%	$79K	$143K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0157%	1h	93.895	−0.018%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0366%	4h	94.112	+0.213%	$1.5M	$6.0M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0421%	1h	93.922	+0.011%	$7.5M	$4.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0672%	1h	93.906	−0.007%	$20.9M	$29.7M	50x	as long as short