data as of
Settings8H · net · $10k
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Price arb /

HYPE

all HYPE markets
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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.

After costs, if the gap returns to its 7d average, $10k−$4
spread now+0.039%7d average−0.224%fees + slippage, in and out−$31spread needed0.306%
Long on BackpackShort on Kalshi
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack HYPE_USDC_PERP94.0800.0100pay 0.0013% / 1h47m 39s$8.1M$8.4M20x
ShortKalshi KXHYPEPERP94.1170get 0.0000% / 8h5h 47m$1.6M$3.8M2.3x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$3.93
Funding while held
−$3
Slippage, 4 orders
−$10.6
Fee Backpack: 5 bp × 2 orders
−$10
Fee Kalshi: 5 bp × 2 orders
−$10
Net
−$29.67
Spread needed to break even
0.306%
Slippage from Backpack: live order book, 3 min ago; Kalshi: live order book, 2 min ago.

Cost of waiting

funding view
Funding /8h
−0.0100%
Per $10,000 a day
−$3.00
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Backpack live order book, 3 min ago0.05 bp5.1 bp −$57.6 bp −$76119.0 bp −$11.9Kdoesn't fit
Sell Kalshi live order book, 2 min ago2.76 bp9.5 bp −$1011.8 bp −$11818.0 bp −$1,798doesn't fit

HYPE price on every exchange

against the cheapest. Click to use as the short leg.
Katana Perps93.980cheapestOndo Perps93.990+0.011%Derive93.994+0.014%Extended93.997+0.018%Bluefin94.000+0.021%Arcus94.005+0.027%Aevo94.019+0.041%ApeX Omni94.028+0.051%GMX94.032+0.055%gTrade (Gains Network)94.039+0.063%Bitget94.043+0.067%OKX94.045+0.069%dYdX94.048+0.072%Gate94.049+0.073%Bybit94.050+0.074%edgeX94.058+0.083%Bullet94.061+0.086%Orderly94.065+0.090%BingX94.067+0.093%KuCoin94.070+0.096%Coinbase International94.070+0.096%Reya94.073+0.099%Aster94.077+0.103%Paradex94.078+0.104%
Backpack94.080+0.106%
Polymarket Perps94.081+0.107%Binance94.084+0.111%Perpl94.086+0.113%RISEx94.086+0.113%MEXC94.087+0.114%Nado94.088+0.115%Hyperliquid94.089+0.116%Vest94.097+0.124%Lighter RH94.098+0.126%SoDEX94.100+0.128%Pacifica94.105+0.133%Hotstuff94.106+0.134%Popdex94.108+0.136%Phemex94.113+0.142%Deribit94.115+0.144%
Kalshi94.117+0.146%
Lighter94.131+0.161%Kraken Futures94.141+0.171%Variational Omni94.141+0.171%01 Exchange94.149+0.180%Hibachi94.153+0.184%Phoenix94.157+0.188%SunX94.163+0.195%BloFin94.188+0.221%StandX94.209+0.244%HTX94.257+0.295%Aftermath Perps94.332+0.374%Injective94.660+0.724%Bulk94.884+0.962%

HYPE on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Katana Perps HYPE-USD−0.106%+0.0099%8h$16K$1.5M10xas long as short
Ondo Perps HYPE-USD.P−0.096%+0.0100%1h$707K$893K10xas long as short
Derive HYPE-PERP−0.092%+0.0100%1h$16.7M$6.9M10xas long as short
Extended HYPE-USD−0.088%+0.0104%1h$18.5M$36.2M50xas long as short
Bluefin HYPE-PERP−0.085%+0.0100%1h$69K$196K20xas long as short
Arcus HYPE-USD−0.080%−0.0018%1h$1.2M$4.2M10xas long as short
Aevo HYPE-PERP−0.065%+0.0088%1h$400K$339K20xas long as short
ApeX Omni HYPEUSDT−0.055%−0.0099%1h$414K$931K50xas long as short
GMX HYPE/USD [WBTC.b-USDC]−0.051%L +0.0345% / S −0.0159%1h$1.5M—100xas long as short
gTrade (Gains Network) HYPE/USD−0.043%L +0.0002% / S −0.0001%1h$33K—150xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Bitget HYPEUSDT−0.039%+0.0100%4h$231.7M$88.4M75xas long as short
OKX HYPE-USDT-SWAP−0.037%−0.0108%8h$119.7M$286.4M50xas long as short
dYdX HYPE-USD−0.034%0.0000%1h$128K$23K5xas long as short
Gate HYPE_USDT−0.033%−0.0064%4h$44.6M$53.6M75xas long as short
Bybit HYPEUSDT−0.032%+0.0043%8h$326.1M$269.2M75xas long as short
edgeX HYPEUSDC−0.023%+0.0036%4h$5.1M$24.7M30xas long as short
Bullet HYPE-USD−0.020%+0.0100%1h$112K$578K20xas long as short
Orderly PERP_HYPE_USDC−0.016%−0.0322%4h$168K$467K20xas long as short
BingX HYPE-USDT−0.014%−0.0116%4h—$47.4M—as long as short
KuCoin HYPEUSDTM−0.011%+0.0042%4h$44.9M$19.3M75xas long as short
Coinbase International HYPE-PERP-INTX−0.011%+0.0032%1h$5.0M$5.2M50xas long as short
Reya HYPERUSDPERP−0.007%+0.0213%1h$74K$222K15xas long as short
Aster HYPEUSDT−0.003%−0.0063%4h$8.5M$31.7M300xas long as short
Paradex HYPE-USD-PERP−0.002%+0.0093%8h$337K$287K20xas long as short
Backpack HYPE_USDC_PERPlong0.000%+0.0100%1h$8.1M$8.4M20x
Polymarket Perps HYPE-USD+0.001%+0.0100%1h$482K$2.3M20xas long as short
Binance HYPEUSDT+0.004%+0.0028%4h$394.2M$745.7M75xas long as short
Perpl HYPE+0.006%0.0000%43m$31K$333K10xas long as short
RISEx HYPE/USDC+0.006%+0.0120%1h$2.5M$7.1M20xas long as short
MEXC HYPE_USDT+0.007%+0.0024%4h$92.1M$79.3M100xas long as short
Nado HYPE-PERP+0.009%+0.0100%1h$5.5M$41.8M10xas long as short
Hyperliquid HYPE+0.010%+0.0100%1h$2.06B$519.5M10xas long as short
Vest HYPE-PERP+0.018%+0.0080%1h—$407K5xas long as short
Lighter RH HYPE+0.019%+0.0096%1h$3.0M$10.7M20xas long as short
SoDEX HYPE-USD+0.021%+0.0100%1h$2.0M$1.9M10xas long as short
Pacifica HYPE+0.027%+0.0100%1h$11.4M$11.8M20xas long as short
Hotstuff HYPE-PERP+0.028%−0.0080%1h$3K$30725xas long as short
Popdex HYPEUSDT+0.030%+0.0096%1h$77K$1.0M50xas long as short
Phemex HYPEUSDT+0.035%+0.0003%8h$12.7M$2.2M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.037%+0.0196%1h$7.3M$3.9M50xas long as short
Kalshi KXHYPEPERPshort+0.039%0.0000%8h$1.6M$3.8M2.3x
Lighter HYPE+0.054%+0.0096%1h$18.8M$50.2M20xas long as short
Kraken Futures PF_HYPEUSD+0.064%−0.0294%1h$16.7M$19.4M50xas long as short
Variational Omni HYPE+0.065%+0.0100%8h$29.8M$48.8M—as long as short
01 Exchange HYPEUSD+0.073%+0.0080%1h$82K$283K20xas long as short
Hibachi HYPE/USDT-P+0.078%−0.0152%1h$201K$174K7xas long as short
Phoenix HYPE+0.082%+0.0152%1h$296K$1.0M10xas long as short
SunX HYPE-USDT+0.088%+0.0100%4h$28K$1.4M20xas long as short
BloFin HYPE-USDT+0.115%+0.0076%4h$18.0M$11.5M75xas long as short
StandX HYPE-USD+0.137%+0.0100%1h$721K$2.1M20xas long as short
HTX HYPE-USDT+0.188%+0.0146%4h$1.5M$6.3M75xas long as short
Aftermath Perps HYPEUSD+0.268%−0.0013%1h$22K$34K10xas long as short
Injective HYPE/USDC PERP+0.616%+0.0375%1h$24K$259K12xas long as short
Bulk HYPE-USD+0.855%+0.0100%1h$215K$10K10xas long as short