data as of
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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−$28
spread now+0.016%7d average−0.001%fees + slippage, in and out−$30spread needed0.296%
Long on KalshiShort on Hyperliquid
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKalshi KXHYPEPERP92.9570.0107pay 0.0107% / 8h1h 29m$2.0M$5.5M2.3x
ShortHyperliquid HYPE92.9720.0633get 0.0079% / 1h29m 15s$2.01B$668.8M10x

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
$1.65
Funding while held
$15.77
Slippage, 4 orders
−$10.62
Fee Kalshi: 5 bp × 2 orders
−$10
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$12.21
Spread needed to break even
0.296%
Slippage from Kalshi: live order book, 1 min ago; Hyperliquid: live order book, 6 min ago.

Cost of waiting

funding view
Funding /8h
+0.0526%
Per $10,000 a day
+$15.77
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 Kalshi live order book, 1 min ago2.53 bp10.2 bp −$1012.0 bp −$12018.9 bp −$1,890doesn't fit
Sell Hyperliquid live order book, 6 min ago0.05 bp4.6 bp −$54.8 bp −$48doesn't fitdoesn't fit

HYPE price on every exchange

against the cheapest. Click to use as the short leg.
Injective92.720cheapestHibachi92.767+0.050%Variational Omni92.779+0.064%ApeX Omni92.792+0.078%StandX92.838+0.127%SoDEX92.838+0.127%edgeX92.843+0.133%Ondo Perps92.860+0.151%Extended92.863+0.154%Arcus92.866+0.157%Aevo92.869+0.161%Bulk92.869+0.161%Hotstuff92.875+0.167%Vest92.878+0.171%Derive92.885+0.178%Aftermath Perps92.887+0.180%dYdX92.892+0.185%Bybit92.900+0.194%KuCoin92.900+0.194%Gate92.905+0.200%Phoenix92.905+0.200%BingX92.908+0.203%Nado92.909+0.203%Pacifica92.912+0.207%Phemex92.912+0.207%GMX92.913+0.208%Aster92.913+0.208%Reya92.915+0.210%Bluefin92.915+0.210%OKX92.919+0.215%Orderly92.919+0.215%Katana Perps92.920+0.216%Perpl92.922+0.218%BloFin92.929+0.225%Bullet92.929+0.226%Bitget92.930+0.226%Popdex92.933+0.230%gTrade (Gains Network)92.935+0.232%Coinbase International92.940+0.237%MEXC92.943+0.241%Polymarket Perps92.946+0.244%Binance92.947+0.245%Kraken Futures92.954+0.252%
Kalshi92.957+0.256%
Lighter RH92.960+0.259%01 Exchange92.966+0.265%Paradex92.966+0.266%
Hyperliquid92.972+0.272%
Lighter92.985+0.286%Backpack92.987+0.288%RISEx92.996+0.297%SunX92.996+0.298%Deribit92.997+0.299%HTX93.039+0.344%

HYPE on 54 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective HYPE/USDC PERP−0.255%+0.1593%1h$30K$177K12xas long as short
Hibachi HYPE/USDT-P−0.205%−0.0840%1h$194K$237K7xas long as short
Variational Omni HYPE−0.191%+0.0100%8h$28.5M$50.0M—as long as short
ApeX Omni HYPEUSDT−0.178%+0.0100%1h$426K$949K50xas long as short
StandX HYPE-USD−0.128%+0.0100%1h$672K$2.3M20xas long as short
SoDEX HYPE-USD−0.128%+0.0100%1h$2.0M$2.0M10xas long as short
edgeX HYPEUSDC−0.123%+0.0112%4h$5.1M$29.0M30xas long as short
Ondo Perps HYPE-USD.P−0.104%+0.0100%1h$697K$1.0M10xas long as short
Extended HYPE-USD−0.101%+0.0104%1h$18.0M$41.2M50xas long as short
Arcus HYPE-USD−0.098%−0.0121%1h$1.2M$4.1M10xas long as short
Show all 54 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Aevo HYPE-PERP−0.095%+0.0104%1h$395K$330K20xas long as short
Bulk HYPE-USD−0.094%+0.0100%1h$203K$12K10xas long as short
Hotstuff HYPE-PERP−0.088%−0.0080%1h$3K$30725xas long as short
Vest HYPE-PERP−0.085%+0.0100%1h—$407K5xas long as short
Derive HYPE-PERP−0.077%+0.0100%1h$16.3M$7.1M10xas long as short
Aftermath Perps HYPEUSD−0.076%+0.0148%1h$22K$29K10xas long as short
dYdX HYPE-USD−0.070%+0.0023%1h$126K$28K5xas long as short
Bybit HYPEUSDT−0.061%+0.0100%8h$325.6M$291.7M75xas long as short
KuCoin HYPEUSDTM−0.061%+0.0100%4h$46.3M$20.3M75xas long as short
Gate HYPE_USDT−0.056%+0.0100%4h$43.8M$56.8M75xas long as short
Phoenix HYPE−0.056%+0.0338%1h$222K$977K10xas long as short
BingX HYPE-USDT−0.053%+0.0100%4h—$53.9M—as long as short
Nado HYPE-PERP−0.052%+0.0100%1h$6.4M$43.9M10xas long as short
Pacifica HYPE−0.049%+0.0100%1h$10.1M$14.4M20xas long as short
Phemex HYPEUSDT−0.048%+0.0100%8h$12.5M$2.4M50xas long as short
GMX HYPE/USD [WBTC.b-USDC]−0.048%L +0.0339% / S −0.0164%1h$1.4M—100xas long as short
Aster HYPEUSDT−0.047%+0.0082%4h$9.0M$36.4M300xas long as short
Reya HYPERUSDPERP−0.046%+0.0239%1h$76K$157K15xas long as short
Bluefin HYPE-PERP−0.045%+0.0100%1h$75K$180K20xas long as short
OKX HYPE-USDT-SWAP−0.041%+0.0100%8h$114.1M$320.5M50xas long as short
Orderly PERP_HYPE_USDC−0.041%+0.0100%4h$189K$503K20xas long as short
Katana Perps HYPE-USD−0.040%+0.0100%8h$22K$1.9M10xas long as short
Perpl HYPE−0.037%0.0000%43m$26K$390K10xas long as short
BloFin HYPE-USDT−0.030%+0.0340%4h$17.4M$12.2M75xas long as short
Bullet HYPE-USD−0.030%+0.0100%1h$112K$567K20xas long as short
Bitget HYPEUSDT−0.029%+0.0100%4h$225.8M$104.7M75xas long as short
Popdex HYPEUSDT−0.026%+0.0096%1h$54K$1.2M50xas long as short
gTrade (Gains Network) HYPE/USD−0.024%L +0.0002% / S −0.0005%1h$43K—150xas long as short
Coinbase International HYPE-PERP-INTX−0.018%+0.0200%1h$5.0M$5.6M50xas long as short
MEXC HYPE_USDT−0.015%+0.0100%4h$90.7M$83.1M100xas long as short
Polymarket Perps HYPE-USD−0.012%+0.0100%1h$499K$2.6M20xas long as short
Binance HYPEUSDT−0.011%+0.0100%4h$387.1M$872.1M75xas long as short
Kraken Futures PF_HYPEUSD−0.003%+0.0085%1h$16.1M$21.1M50xas long as short
Kalshi KXHYPEPERPlong0.000%+0.0107%8h$2.0M$5.5M2.3x
Lighter RH HYPE+0.003%+0.0096%1h$3.1M$12.6M20xas long as short
01 Exchange HYPEUSD+0.010%+0.0112%1h$89K$323K20xas long as short
Paradex HYPE-USD-PERP+0.010%+0.0108%8h$340K$288K20xas long as short
Hyperliquid HYPEshort+0.016%+0.0633%1h$2.01B$668.8M10x
Lighter HYPE+0.030%+0.0096%1h$18.7M$58.5M20xas long as short
Backpack HYPE_USDC_PERP+0.032%+0.0100%1h$8.2M$11.3M20xas long as short
RISEx HYPE/USDC+0.041%+0.0569%1h$2.6M$6.5M20xas long as short
SunX HYPE-USDT+0.042%+0.0100%4h$32K$1.6M20xas long as short
Deribit HYPE_USDC-PERPETUAL+0.043%+0.0428%1h$7.3M$4.7M50xas long as short
HTX HYPE-USDT+0.088%+0.0590%4h$1.5M$7.4M75xas long as short