HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0036%/8h= −3.9% APRnext payment −$0.36 per $10,000 · paid last 24h +0.010%

Price spread now: Paradex against Kalshi−0.035%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$290.292% of the position

Long on Kalshi Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.088%+$9 on $10k

Price spread, last 4 days (all we have)+0.285%+$28 · spread now −0.035%, 7d avg −0.009%

Together, before fees+0.373%+ Points / potential airdropParadex: Active · farm board+$37 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Paradex is 0.027% cheaper against Kalshi than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.009%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.088%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXHYPEPERP	93.396	0.0131	pay 0.0131% / 8h	7h 05m	$1.8M	$5.5M	2.3x
Short	Paradex HYPE-USD-PERP	93.363	0.0095	get 0.0095% / 8h	3h 05m	$340K	$162K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Kalshi. 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 KalshibpFee ParadexbpOrdersPrice spread, now −0.035%Rate

Funding earned: −$7.54
Price spread: −0.035% → −0.009%: −$2.65
Slippage, 4 orders: −$15.23
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$39.42
Costs to cover: 0.292%
Break-even: never at this rate

Slippage from Kalshi: live order book, 3 min ago; Paradex: live order book, 48 min ago.

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 Kalshi live order book, 3 min ago	2.95 bp	10.5 bp −$10	12.1 bp −$121	17.0 bp −$1,703	doesn't fit
Sell Paradex live order book, 48 min ago	1.18 bp	3.2 bp −$3	6.7 bp −$67	doesn't fit	doesn't fit

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	−0.1856%	1h	93.096	−0.321%	$194K	$230K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0331%	1h	93.146	−0.267%	$22K	$21K	10x	as long as short
Arcus HYPE-USD	−0.0194%	1h	93.316	−0.086%	$1.1M	$3.9M	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.241	−0.166%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0047%	4h	93.351	−0.048%	$146K	$670K	20x	as long as short
Bullet HYPE-USD	−0.0006%	1h	93.333	−0.067%	$111K	$578K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.329	−0.072%	$128K	$29K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.337	−0.063%	$22K	$293K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	93.390	−0.006%	$62K	—	150x	as long as short
Ondo Perps HYPE-USD.P	+0.0006%	1h	93.270	−0.135%	$702K	$1.2M	10x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange HYPEUSD	+0.0016%	1h	93.372	−0.026%	$87K	$365K	20x	as long as short
Phemex HYPEUSDT	+0.0018%	8h	93.310	−0.092%	$12.6M	$2.7M	50x	as long as short
Phoenix HYPE	+0.0026%	1h	93.132	−0.283%	$209K	$1.2M	10x	as long as short
Bitget HYPEUSDT	+0.0030%	4h	93.388	−0.009%	$225.7M	$99.1M	75x	as long as short
Bybit HYPEUSDT	+0.0030%	8h	93.367	−0.031%	$318.0M	$284.4M	75x	as long as short
Popdex HYPEUSDT	+0.0056%	1h	93.345	−0.055%	$76K	$1.1M	50x	as long as short
edgeX HYPEUSDC	+0.0080%	4h	93.063	−0.357%	$4.9M	$29.8M	30x	as long as short
Paradex HYPE-USD-PERPshort	+0.0095%	8h	93.363	−0.035%	$340K	$162K	20x
Lighter HYPE	+0.0096%	1h	93.373	−0.025%	$16.1M	$62.9M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.374	−0.024%	$3.1M	$11.7M	20x	as long as short
Gate HYPE_USDT	+0.0096%	4h	93.384	−0.013%	$45.8M	$55.0M	75x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	93.330	−0.071%	$28K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.339	−0.060%	$7.4M	$46.7M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.432	+0.039%	$2.03B	$665.2M	10x	as long as short
Aster HYPEUSDT	+0.0100%	4h	93.401	+0.005%	$8.7M	$36.4M	300x	as long as short
Pacifica HYPE	+0.0100%	1h	93.368	−0.030%	$10.1M	$15.3M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	93.402	+0.007%	$374.8M	$909.8M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0100%	8h	93.379	−0.018%	$114.6M	$306.4M	50x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.125	−0.290%	$203K	$3K	10x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	93.387	−0.010%	$91.9M	$81.6M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.378	−0.019%	$46.1M	$18.5M	75x	as long as short
BingX HYPE-USDT	+0.0100%	4h	93.395	−0.001%	—	$53.8M	—	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	93.398	+0.002%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.319	−0.083%	$28.8M	$56.7M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.054	−0.366%	$7.5M	$46.9M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.080	−0.338%	$341K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.136	−0.278%	$666K	$2.9M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.365	−0.033%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.364	−0.034%	$489K	$2.7M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	93.374	−0.024%	$79K	$167K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	93.346	−0.054%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.393	−0.003%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.360	−0.039%	$2.0M	$1.9M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	93.500	+0.111%	$1.4M	$6.4M	75x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.367	−0.031%	$18.1M	$43.5M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	93.359	−0.039%	$395K	$164K	20x	as long as short
Kalshi KXHYPEPERPlong	+0.0131%	8h	93.396	long leg	$1.8M	$5.5M	2.3x
Coinbase International HYPE-PERP-INTX	+0.0144%	1h	93.420	+0.026%	$4.8M	$5.6M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0196%	1h	93.446	+0.053%	$20.8M	$29.4M	50x	as long as short
Injective HYPE/USDC PERP	+0.0242%	1h	93.410	+0.015%	$30K	$339K	12x	as long as short
Reya HYPERUSDPERP	+0.0267%	1h	93.329	−0.072%	$80K	$131K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0332% / S −0.0154%	1h	93.382	−0.015%	$1.4M	—	100x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	93.196	−0.214%	$16.8M	$11.9M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0457%	1h	93.456	+0.064%	$7.5M	$4.4M	50x	as long as short
RISEx HYPE/USDC	+0.0598%	1h	93.403	+0.008%	$3.2M	$6.2M	20x	as long as short