HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0128%/8h= +14.0% APRnext payment +$1.28 per $10,000 · paid last 24h −0.030%

Price spread now: Kalshi against Katana Perps+0.050%7-day average +0.052% · you sell dearer than you buy

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

Long on Katana Perps Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.094%−$9 on $10k

Price spread, last 7 days+0.074%+$7 · spread now +0.050%, 7d avg +0.052%

Together, before fees−0.021%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.052%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.094%, 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	Katana Perps HYPE-USD	94.080	0.0100	pay 0.0100% / 8h	7h 22m	$24K	$1.6M	10x
Short	Kalshi KXHYPEPERP	94.127	0.0228	get 0.0228% / 8h	3h 22m	$1.9M	$5.1M	2.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Katana 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 Katana PerpsbpFee KalshibpOrdersPrice spread, now +0.050%Rate

Funding earned: $26.84
Price spread: +0.050% → +0.052%: −$0.19
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $12.85
Costs to cover: 0.138%
Break-even: 3.6 days

Slippage unknown: Katana Perps: no order-book sample; Kalshi: live order book, 2 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 Katana Perps no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 2 min ago	1.33 bp	10.5 bp −$10	12.6 bp −$126	20.1 bp −$2,014	doesn't fit

Katana 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	−0.1344%	1h	94.009	−0.075%	$199K	$228K	7x	as long as short
Arcus HYPE-USD	−0.0625%	1h	93.973	−0.114%	$1.2M	$3.8M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0209%	1h	94.143	+0.067%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0141%	1h	94.020	−0.064%	$711K	$960K	10x	as long as short
dYdX HYPE-USD	−0.0120%	1h	94.123	+0.046%	$129K	$31K	5x	as long as short
Bullet HYPE-USD	−0.0105%	1h	94.021	−0.063%	$113K	$581K	20x	as long as short
01 Exchange HYPEUSD	−0.0088%	1h	94.024	−0.060%	$86K	$360K	20x	as long as short
Phemex HYPEUSDT	−0.0081%	8h	94.038	−0.045%	$12.8M	$2.6M	50x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	94.063	−0.018%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0021%	4h	94.000	−0.085%	$159K	$645K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HYPEUSDT	−0.0020%	8h	93.971	−0.116%	$322.9M	$280.2M	75x	as long as short
Gate HYPE_USDT	−0.0012%	4h	93.974	−0.113%	$44.5M	$59.9M	75x	as long as short
Perpl HYPE	0.0000%	43m	94.054	−0.028%	$23K	$327K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	94.060	−0.021%	$27K	—	150x	as long as short
Aster HYPEUSDT	+0.0017%	4h	94.027	−0.057%	$8.9M	$36.1M	300x	as long as short
Derive HYPE-PERP	+0.0031%	1h	93.972	−0.115%	$16.4M	$7.3M	10x	as long as short
Phoenix HYPE	+0.0034%	1h	94.222	+0.151%	$219K	$1.2M	10x	as long as short
Binance HYPEUSDT	+0.0051%	4h	93.995	−0.090%	$383.4M	$893.6M	75x	as long as short
MEXC HYPE_USDT	+0.0052%	4h	93.977	−0.109%	$89.2M	$82.8M	100x	as long as short
edgeX HYPEUSDC	+0.0059%	4h	94.143	+0.067%	$5.1M	$29.9M	30x	as long as short
OKX HYPE-USDT-SWAP	+0.0075%	8h	94.000	−0.085%	$116.0M	$318.2M	50x	as long as short
Lighter HYPE	+0.0096%	1h	94.019	−0.065%	$19.1M	$59.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	94.012	−0.072%	$3.0M	$12.1M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	94.029	−0.054%	$64K	$1.2M	50x	as long as short
Aevo HYPE-PERP	+0.0096%	1h	94.000	−0.085%	$400K	$180K	20x	as long as short
Bluefin HYPE-PERP	+0.0098%	1h	94.036	−0.047%	$76K	$171K	20x	as long as short
Paradex HYPE-USD-PERP	+0.0099%	8h	94.126	+0.049%	$342K	$165K	20x	as long as short
Katana Perps HYPE-USDlong	+0.0100%	8h	94.080	long leg	$24K	$1.6M	10x
Nado HYPE-PERP	+0.0100%	1h	94.046	−0.037%	$6.6M	$44.8M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	94.086	+0.006%	$2.05B	$672.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	94.104	+0.026%	$10.2M	$14.6M	20x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	94.011	−0.073%	$46.8M	$18.2M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.992	−0.094%	$227.9M	$101.0M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.996	−0.089%	—	$54.0M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.998	−0.087%	$7.7M	$10.4M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	94.149	+0.074%	$31.5M	$54.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	94.199	+0.126%	$7.6M	$46.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	94.088	+0.009%	$340K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	94.072	−0.009%	$680K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	94.073	−0.007%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	94.050	−0.032%	$480K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	94.107	+0.029%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	94.004	−0.081%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	94.151	+0.075%	$205K	$2K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.989	−0.096%	$18.8M	$44.4M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	94.040	−0.043%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0205%	1h	94.020	−0.064%	$31K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0211%	4h	94.060	−0.021%	$17.0M	$12.2M	75x	as long as short
RISEx HYPE/USDC	+0.0222%	1h	94.094	+0.014%	$2.7M	$6.8M	20x	as long as short
Kalshi KXHYPEPERPshort	+0.0228%	8h	94.127	+0.050%	$1.9M	$5.1M	2.3x
Reya HYPERUSDPERP	+0.0252%	1h	94.015	−0.070%	$79K	$142K	15x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0282%	1h	94.105	+0.027%	$7.5M	$4.6M	50x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0333% / S −0.0155%	1h	94.051	−0.031%	$1.4M	—	100x	as long as short
HTX HYPE-USDT	+0.0391%	4h	94.200	+0.128%	$1.5M	$6.2M	75x	as long as short
Kraken Futures PF_HYPEUSD	+0.0671%	1h	94.093	+0.014%	$21.0M	$29.7M	50x	as long as short