Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

HYPE

all HYPE markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 06:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h −0.008%
Price spread now: Kalshi against Lighter+0.083%7-day average −0.021% · you sell dearer than you buy
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$10as in the Price arb table
costs, in and out, $10k−$200.203% of the position
Long on LighterShort on Kalshi
What this pair did over the last
the charts below follow
Funding, last 7 days−0.157%−$16 on $10k
Price spread, last 7 days−0.040%−$4 · spread now +0.083%, 7d avg −0.021%
Together, before fees−0.196%+ Points / potential airdropLighter: Season 3 · farm board−$20 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Kalshi is 0.105% dearer against Lighter than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.021%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter HYPE93.1130.0096pay 0.0012% / 1h25m 55s$16.1M$63.2M20x
ShortKalshi KXHYPEPERP93.1910.0105get 0.0105% / 8h6h 25m$1.8M$5.6M2.3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kalshi against Lighter. 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

Funding earned
$1.89
Price spread: +0.083% → −0.021%
$10.47
Slippage, 4 orders
−$10.25
Fee Lighter: 0 bp × 2 orders
$0
Fee Kalshi: 5 bp × 2 orders
−$10
Net
−$7.89
Costs to cover
0.203%
Break-even
36.2 days
Slippage from Lighter: live order book, 8 min ago; Kalshi: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter live order book, 8 min ago0.04 bp0.0 bp $01.2 bp −$1211.3 bp −$1,12944.6 bp −$22.3K
Sell Kalshi live order book, 3 min ago3.06 bp10.4 bp −$1011.8 bp −$11818.0 bp −$1,798doesn'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−0.1472%1h93.064−0.053%$197K$237K7xas long as short
Aftermath Perps HYPEUSD−0.0364%1h93.192+0.085%$22K$21K10xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.092−0.023%$3K$33125xas long as short
Bullet HYPE-USD−0.0074%1h93.059−0.058%$111K$580K20xas long as short
Orderly PERP_HYPE_USDC−0.0022%4h93.102−0.012%$146K$666K20xas long as short
01 Exchange HYPEUSD−0.0008%1h93.152+0.042%$87K$365K20xas long as short
dYdX HYPE-USD0.0000%1h93.139+0.027%$128K$29K5xas long as short
Perpl HYPE0.0000%43m93.086−0.029%$22K$290K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0002%1h93.115+0.002%$62K—150xas long as short
Arcus HYPE-USD+0.0011%1h93.102−0.012%$1.0M$3.9M10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget HYPEUSDT+0.0012%4h93.1130.000%$225.0M$98.9M75xas long as short
Ondo Perps HYPE-USD.P+0.0017%1h93.080−0.036%$702K$1.2M10xas long as short
Bybit HYPEUSDT+0.0017%8h93.073−0.043%$316.2M$282.5M75xas long as short
Phoenix HYPE+0.0026%1h93.282+0.181%$207K$1.2M10xas long as short
Phemex HYPEUSDT+0.0057%8h93.125+0.013%$12.7M$2.8M50xas long as short
Paradex HYPE-USD-PERP+0.0094%8h93.172+0.063%$339K$157K20xas long as short
Lighter HYPElong+0.0096%1h93.113long leg$16.1M$63.2M20x
Lighter RH HYPE+0.0096%1h93.112−0.001%$3.1M$11.5M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.130+0.018%$75K$1.2M50xas long as short
edgeX HYPEUSDC+0.0098%4h93.253+0.150%$5.0M$29.9M30xas long as short
Katana Perps HYPE-USD+0.0100%8h93.120+0.007%$28K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.120+0.008%$7.9M$48.4M10xas long as short
Hyperliquid HYPE+0.0100%1h93.145+0.034%$2.03B$669.3M10xas long as short
Aster HYPEUSDT+0.0100%4h93.150+0.039%$8.7M$36.4M300xas long as short
Pacifica HYPE+0.0100%1h93.157+0.047%$10.0M$15.3M20xas long as short
Binance HYPEUSDT+0.0100%4h93.158+0.048%$373.3M$912.2M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h93.105−0.009%$114.2M$308.7M50xas long as short
Bulk HYPE-USD+0.0100%1h93.230+0.125%$215K$15K10xas long as short
Gate HYPE_USDT+0.0100%4h93.085−0.030%$46.7M$54.4M75xas long as short
MEXC HYPE_USDT+0.0100%4h93.135+0.023%$90.8M$81.2M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.097−0.018%$46.0M$18.9M75xas long as short
BingX HYPE-USDT+0.0100%4h93.165+0.056%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.128+0.016%$7.3M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h93.070−0.047%$28.4M$56.3M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.241+0.137%$7.5M$47.0M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.281+0.180%$342K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.185+0.077%$667K$2.8M20xas long as short
Vest HYPE-PERP+0.0100%1h93.167+0.058%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.121+0.008%$482K$2.7M20xas long as short
Bluefin HYPE-PERP+0.0100%1h93.105−0.009%$79K$166K20xas long as short
Derive HYPE-PERP+0.0100%1h93.087−0.028%$16.1M$7.4M10xas long as short
SunX HYPE-USDT+0.0100%4h93.130+0.018%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.100−0.014%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h93.250+0.147%$1.4M$6.5M75xas long as short
Extended HYPE-USD+0.0104%1h93.097−0.017%$18.1M$43.2M50xas long as short
Aevo HYPE-PERP+0.0104%1h93.108−0.006%$394K$158K20xas long as short
Kalshi KXHYPEPERPshort+0.0105%8h93.191+0.083%$1.8M$5.6M2.3x
Injective HYPE/USDC PERP+0.0122%1h93.620+0.544%$30K$339K12xas long as short
Coinbase International HYPE-PERP-INTX+0.0144%1h93.150+0.039%$4.6M$5.8M50xas long as short
Reya HYPERUSDPERP+0.0269%1h93.094−0.020%$80K$127K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0332% / S −0.0154%1h93.102−0.012%$1.4M—100xas long as short
BloFin HYPE-USDT+0.0340%4h93.096−0.019%$16.8M$11.9M75xas long as short
Kraken Futures PF_HYPEUSD+0.0342%1h93.158+0.048%$20.8M$29.5M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0469%1h93.201+0.094%$7.5M$4.0M50xas long as short
RISEx HYPE/USDC+0.0527%1h93.198+0.090%$3.2M$6.3M20xas long as short