HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0066%/8h= +7.2% APRnext payment +$0.66 per $10,000 · paid last 24h −0.017%

Price spread now: OKX against Kalshi−0.078%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$280.284% of the position

Long on Kalshi Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 7 days+0.052%+$5 · spread now −0.078%, 7d avg −0.018%

Together, before fees+0.161%+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.060% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.078% now, against its 7-day average of −0.018%). If the spread goes back, that is −$6 on $10k: about 3.0 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXHYPEPERP	94.577	0	get 0.0000% / 8h	4h 02m	$1.9M	$5.5M	2.3x
Short	OKX HYPE-USDT-SWAP	94.503	0.0066	get 0.0066% / 8h	2m 35s	$117.9M	$325.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.078%Rate

Funding earned: $13.9
Price spread: −0.078% → −0.018%: −$6.03
Slippage, 4 orders: −$8.42
Fee Kalshi: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$20.56
Costs to cover: 0.284%
Break-even: 17.4 days

Slippage from Kalshi: live order book, 1 min ago; OKX: live order book, 2 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 Kalshi live order book, 1 min ago	2.33 bp	7.6 bp −$8	11.2 bp −$112	18.6 bp −$1,863	doesn't fit
Sell OKX live order book, 2 min ago	0.05 bp	5.5 bp −$6	8.8 bp −$88	18.1 bp −$1,808	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	−0.1528%	1h	94.486	−0.096%	$207K	$268K	7x	as long as short
Bluefin HYPE-PERP	−0.0382%	1h	94.445	−0.140%	$80K	$152K	20x	as long as short
Ondo Perps HYPE-USD.P	−0.0200%	1h	94.460	−0.124%	$712K	$1.2M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0195%	1h	94.468	−0.115%	$22K	$20K	10x	as long as short
Bullet HYPE-USD	−0.0187%	1h	94.467	−0.116%	$112K	$575K	20x	as long as short
01 Exchange HYPEUSD	−0.0104%	1h	94.536	−0.043%	$88K	$363K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.518	−0.062%	$3K	$331	25x	as long as short
Arcus HYPE-USD	−0.0045%	1h	94.506	−0.075%	$1.0M	$3.5M	10x	as long as short
Derive HYPE-PERP	−0.0027%	1h	94.383	−0.205%	$16.4M	$7.3M	10x	as long as short
Bybit HYPEUSDT	−0.0017%	8h	94.505	−0.076%	$317.9M	$288.5M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HYPE_USDC	−0.0007%	4h	94.458	−0.126%	$147K	$686K	20x	as long as short
Lighter HYPE	0.0000%	1h	94.512	−0.069%	$16.4M	$64.8M	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	94.542	−0.037%	$130K	$94K	5x	as long as short
Kalshi KXHYPEPERPlong	0.0000%	8h	94.577	long leg	$1.9M	$5.5M	2.3x
Phoenix HYPE	0.0000%	1h	94.443	−0.142%	$209K	$1.1M	10x	as long as short
Perpl HYPE	0.0000%	43m	94.495	−0.087%	$19K	$286K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S 0.0000%	1h	94.501	−0.080%	$124K	—	150x	as long as short
Bitget HYPEUSDT	+0.0016%	4h	94.491	−0.091%	$226.8M	$100.4M	75x	as long as short
Polymarket Perps HYPE-USD	+0.0022%	1h	94.508	−0.073%	$498K	$2.8M	20x	as long as short
Phemex HYPEUSDT	+0.0043%	8h	94.493	−0.089%	$12.9M	$2.9M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0045%	8h	94.549	−0.030%	$338K	$154K	20x	as long as short
SoDEX HYPE-USD	+0.0049%	1h	94.495	−0.087%	$2.1M	$1.9M	10x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0064%	1h	94.480	−0.103%	$4.7M	$6.2M	50x	as long as short
OKX HYPE-USDT-SWAPshort	+0.0066%	8h	94.503	−0.078%	$117.9M	$325.6M	50x
Vest HYPE-PERP	+0.0072%	1h	94.533	−0.046%	—	$190K	5x	as long as short
Gate HYPE_USDT	+0.0080%	4h	94.510	−0.071%	$50.6M	$57.0M	75x	as long as short
edgeX HYPEUSDC	+0.0087%	4h	94.396	−0.192%	$5.0M	$30.7M	30x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.512	−0.069%	$3.2M	$10.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.505	−0.076%	$79K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	94.500	−0.081%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	94.495	−0.087%	$7.2M	$52.9M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.596	+0.020%	$2.08B	$687.6M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	94.525	−0.055%	$8.8M	$37.1M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	94.552	−0.026%	$10.2M	$14.8M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	94.516	−0.065%	$379.0M	$932.4M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.428	−0.158%	$218K	$12K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	94.523	−0.057%	$90.1M	$84.5M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.494	−0.088%	$47.0M	$18.8M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	94.507	−0.074%	—	$52.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	94.494	−0.088%	$7.6M	$10.6M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.362	−0.227%	$29.6M	$54.9M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.422	−0.163%	$7.6M	$45.0M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.416	−0.170%	$350K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.472	−0.111%	$683K	$2.6M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.599	+0.023%	$32K	$1.6M	20x	as long as short
HTX HYPE-USDT	+0.0100%	4h	94.600	+0.024%	$1.4M	$6.8M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	94.472	−0.111%	$18.4M	$43.1M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	94.483	−0.100%	$399K	$153K	20x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0150% / S +0.0022%	1h	94.531	−0.048%	$1.4M	—	100x	as long as short
Injective HYPE/USDC PERP	+0.0185%	1h	94.450	−0.134%	$31K	$340K	12x	as long as short
Kraken Futures PF_HYPEUSD	+0.0222%	1h	94.547	−0.032%	$20.3M	$30.2M	50x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0226%	1h	94.588	+0.012%	$7.5M	$4.3M	50x	as long as short
RISEx HYPE/USDC	+0.0249%	1h	94.538	−0.041%	$3.2M	$6.4M	20x	as long as short
Reya HYPERUSDPERP	+0.0272%	1h	94.451	−0.134%	$83K	$121K	15x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	94.486	−0.096%	$17.2M	$12.4M	75x	as long as short