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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.030%
Price spread now: Variational Omni against Kalshi−0.485%7-day average −0.036% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on KalshiShort on Variational Omni
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.090%+$9 on $10k
Price spread, last 7 days+0.328%+$33 · spread now −0.485%, 7d avg −0.036%
Together, before fees+0.418%+ Points / potential airdropVariational Omni: Active · farm board+$42 on $10k · with fees, hour by hour
Funding pays, the price is against you. Variational Omni is 0.449% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.485% now, against its 7-day average of −0.036%). If the spread goes back, that is −$45 on $10k: about 15 days of funding at the current rate (+$3 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKalshi KXHYPEPERP93.7910get 0.0000% / 8h7h 32m$1.9M$5.3M2.3x
ShortVariational Omni HYPE93.3360.0100get 0.0100% / 8h3h 32m$28.7M$49.0M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Variational Omni against Kalshi. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$21
Price spread: −0.485% → −0.036%
−$44.91
Slippage, 4 orders
no order book: not counted
Fee Kalshi: 5 bp × 2 orders
−$10
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$33.91
Costs to cover
0.100%
Break-even
18.3 days
Slippage unknown: Kalshi: live order book, 1 min ago; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kalshi live order book, 1 min ago3.26 bp11.2 bp −$1112.4 bp −$12418.3 bp −$1,833doesn't fit
Sell Variational Omni RFQ quote, 2 min ago0.42 bpdoesn't fit1.7 bp −$1720.3 bp −$2,030doesn't fit

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1320%1h93.229−0.599%$196K$237K7xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.681−0.117%$3K$33125xas long as short
Aftermath Perps HYPEUSD−0.0046%1h93.333−0.488%$22K$22K10xas long as short
dYdX HYPE-USD0.0000%1h93.723−0.072%$128K$33K5xas long as short
Kalshi KXHYPEPERPlong0.0000%8h93.791long leg$1.9M$5.3M2.3x
Perpl HYPE0.0000%43m93.523−0.286%$23K$352K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0005%1h93.560−0.246%$44K—150xas long as short
01 Exchange HYPEUSD+0.0016%1h93.688−0.110%$89K$327K20xas long as short
Aster HYPEUSDT+0.0018%4h93.697−0.101%$9.0M$36.4M300xas long as short
Gate HYPE_USDT+0.0020%4h93.673−0.126%$44.2M$56.0M75xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit HYPEUSDT+0.0056%8h93.644−0.157%$326.0M$285.1M75xas long as short
Kraken Futures PF_HYPEUSD+0.0066%1h93.659−0.141%$18.6M$24.0M50xas long as short
Orderly PERP_HYPE_USDC+0.0093%4h93.534−0.274%$182K$505K20xas long as short
Phoenix HYPE+0.0094%1h93.461−0.352%$205K$1.1M10xas long as short
Lighter HYPE+0.0096%1h93.720−0.076%$18.9M$57.7M20xas long as short
Lighter RH HYPE+0.0096%1h93.737−0.058%$3.1M$12.4M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.666−0.133%$56K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h93.710−0.086%$25K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.468−0.344%$6.2M$44.0M10xas long as short
Pacifica HYPE+0.0100%1h93.706−0.091%$10.0M$14.3M20xas long as short
Binance HYPEUSDT+0.0100%4h93.677−0.122%$391.0M$876.6M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.670−0.129%$114.6M$315.7M50xas long as short
Ondo Perps HYPE-USD.P+0.0100%1h93.630−0.172%$701K$951K10xas long as short
Arcus HYPE-USD+0.0100%1h93.643−0.158%$1.2M$4.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.684−0.114%$205K$9K10xas long as short
MEXC HYPE_USDT+0.0100%4h93.676−0.123%$90.5M$81.7M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.703−0.094%$46.5M$19.6M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.679−0.119%$227.1M$102.3M75xas long as short
BingX HYPE-USDT+0.0100%4h93.676−0.123%—$54.3M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.713−0.083%$8.0M$11.5M20xas long as short
Variational Omni HYPEshort+0.0100%8h93.336−0.485%$28.7M$49.0M—
GRVT HYPE_USDT_Perp+0.0100%4h93.371−0.448%$7.5M$45.4M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.462−0.351%$457K$934K50xas long as short
StandX HYPE-USD+0.0100%1h93.434−0.381%$676K$2.3M20xas long as short
Vest HYPE-PERP+0.0100%1h93.534−0.274%—$454K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.556−0.251%$468K$2.6M20xas long as short
Bullet HYPE-USD+0.0100%1h93.538−0.270%$112K$574K20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.554−0.253%$76K$169K20xas long as short
Derive HYPE-PERP+0.0100%1h93.513−0.297%$16.4M$6.9M10xas long as short
SunX HYPE-USDT+0.0100%4h93.571−0.235%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.531−0.277%$2.0M$2.0M10xas long as short
Phemex HYPEUSDT+0.0100%8h93.655−0.145%$12.7M$2.5M50xas long as short
Paradex HYPE-USD-PERP+0.0101%8h93.720−0.075%$341K$171K20xas long as short
Extended HYPE-USD+0.0104%1h93.655−0.145%$18.2M$40.6M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.532−0.276%$398K$318K20xas long as short
edgeX HYPEUSDC+0.0110%4h93.333−0.488%$5.0M$28.8M30xas long as short
Coinbase International HYPE-PERP-INTX+0.0208%1h93.610−0.193%$4.9M$5.7M50xas long as short
Reya HYPERUSDPERP+0.0243%1h93.515−0.294%$77K$157K15xas long as short
Injective HYPE/USDC PERP+0.0254%1h93.730−0.065%$30K$182K12xas long as short
Hyperliquid HYPE+0.0299%1h93.803+0.013%$2.04B$659.4M10xas long as short
BloFin HYPE-USDT+0.0340%4h93.601−0.203%$17.3M$12.3M75xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0342% / S −0.0168%1h93.516−0.293%$1.4M—100xas long as short
RISEx HYPE/USDC+0.0422%1h93.746−0.048%$2.8M$6.7M20xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0445%1h93.640−0.161%$7.4M$4.6M50xas long as short
HTX HYPE-USDT+0.0465%4h93.799+0.009%$1.5M$7.5M75xas long as short