HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0136%/8h= −14.9% APRnext payment −$1.36 per $10,000 · paid last 24h +0.030%

Price spread now: Variational Omni against Kalshi−0.153%7-day average −0.033% · you buy dearer than you sell

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

Long on Kalshi Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.100%+$10 on $10k

Price spread, last 7 days+0.038%+$4 · spread now −0.153%, 7d avg −0.033%

Together, before fees+0.138%+ Points / potential airdropVariational Omni: Active · farm board+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Variational Omni is 0.120% cheaper against Kalshi than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.033%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.100%, 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	92.830	0.0236	pay 0.0236% / 8h	16m 19s	$1.8M	$5.4M	2.3x
Short	Variational Omni HYPE	92.688	0.0100	get 0.0100% / 8h	4h 16m	$28.6M	$57.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.153%Rate

Funding earned: −$28.62
Price spread: −0.153% → −0.033%: −$12.03
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$50.65
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kalshi: live order book, 2 min ago; Variational Omni: RFQ quote, 3 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 Kalshi live order book, 2 min ago	3.23 bp	9.7 bp −$10	11.5 bp −$115	19.2 bp −$1,916	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	0.44 bp	doesn't fit	6.0 bp −$60	23.7 bp −$2,366	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
Arcus HYPE-USD	−0.0948%	1h	92.663	−0.180%	$1.1M	$3.9M	10x	as long as short
Hibachi HYPE/USDT-P	−0.0256%	1h	92.657	−0.186%	$194K	$229K	7x	as long as short
Aftermath Perps HYPEUSD	−0.0246%	1h	92.707	−0.133%	$22K	$21K	10x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	92.724	−0.114%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0065%	4h	92.678	−0.164%	$157K	$666K	20x	as long as short
01 Exchange HYPEUSD	−0.0016%	1h	92.740	−0.097%	$86K	$361K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	92.770	−0.064%	$127K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	92.707	−0.132%	$22K	$304K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0002%	1h	92.725	−0.113%	$62K	—	150x	as long as short
Phemex HYPEUSDT	+0.0028%	8h	92.728	−0.110%	$12.5M	$2.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps HYPE-USD.P	+0.0033%	1h	92.660	−0.183%	$697K	$1.1M	10x	as long as short
BingX HYPE-USDT	+0.0038%	4h	92.702	−0.138%	—	$53.4M	—	as long as short
Bullet HYPE-USD	+0.0041%	1h	92.678	−0.164%	$110K	$578K	20x	as long as short
Phoenix HYPE	+0.0043%	1h	92.817	−0.014%	$210K	$1.2M	10x	as long as short
Aster HYPEUSDT	+0.0044%	4h	92.712	−0.128%	$8.7M	$36.2M	300x	as long as short
Bybit HYPEUSDT	+0.0045%	8h	92.685	−0.156%	$316.5M	$281.3M	75x	as long as short
OKX HYPE-USDT-SWAP	+0.0090%	8h	92.702	−0.138%	$113.6M	$303.7M	50x	as long as short
Gate HYPE_USDT	+0.0090%	4h	92.684	−0.157%	$44.5M	$55.3M	75x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	92.737	−0.100%	$338K	$163K	20x	as long as short
Lighter HYPE	+0.0096%	1h	92.709	−0.130%	$16.0M	$62.6M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	92.713	−0.126%	$3.1M	$11.7M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	92.709	−0.130%	$69K	$1.1M	50x	as long as short
Katana Perps HYPE-USD	+0.0099%	8h	92.710	−0.129%	$38K	$1.7M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	92.709	−0.131%	$7.1M	$45.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	92.761	−0.074%	$2.02B	$663.6M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	92.741	−0.096%	$10.0M	$15.2M	20x	as long as short
Binance HYPEUSDT	+0.0100%	4h	92.703	−0.137%	$372.4M	$902.7M	75x	as long as short
MEXC HYPE_USDT	+0.0100%	4h	92.690	−0.151%	$87.4M	$80.8M	100x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	92.710	−0.129%	$45.9M	$18.3M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	92.713	−0.126%	$224.4M	$98.8M	75x	as long as short
Backpack HYPE_USDC_PERP	+0.0100%	1h	92.728	−0.110%	$7.3M	$11.1M	20x	as long as short
Variational Omni HYPEshort	+0.0100%	8h	92.688	−0.153%	$28.6M	$57.4M	—
GRVT HYPE_USDT_Perp	+0.0100%	4h	92.808	−0.024%	$7.5M	$46.6M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	92.760	−0.075%	$350K	$1.0M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	92.701	−0.139%	$666K	$2.7M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	92.769	−0.065%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	92.729	−0.109%	$469K	$2.6M	20x	as long as short
Bluefin HYPE-PERP	+0.0100%	1h	92.677	−0.165%	$78K	$170K	20x	as long as short
Derive HYPE-PERP	+0.0100%	1h	92.691	−0.150%	$16.1M	$7.5M	10x	as long as short
SunX HYPE-USDT	+0.0100%	4h	92.702	−0.138%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	92.704	−0.136%	$2.0M	$2.0M	10x	as long as short
HTX HYPE-USDT	+0.0100%	4h	92.875	+0.048%	$1.4M	$6.2M	75x	as long as short
Bulk HYPE-USD	+0.0100%	1h	92.701	−0.139%	$202K	$13K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	92.678	−0.163%	$18.1M	$43.4M	50x	as long as short
Aevo HYPE-PERP	+0.0104%	1h	92.707	−0.132%	$392K	$164K	20x	as long as short
edgeX HYPEUSDC	+0.0110%	4h	92.754	−0.082%	$5.0M	$29.6M	30x	as long as short
Injective HYPE/USDC PERP	+0.0150%	1h	93.000	+0.183%	$30K	$339K	12x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0160%	1h	92.750	−0.086%	$4.7M	$5.5M	50x	as long as short
Kalshi KXHYPEPERPlong	+0.0236%	8h	92.830	long leg	$1.8M	$5.4M	2.3x
Reya HYPERUSDPERP	+0.0262%	1h	92.703	−0.137%	$79K	$132K	15x	as long as short
GMX HYPE/USD [WBTC.b-USDC]	L +0.0331% / S −0.0154%	1h	92.706	−0.133%	$1.4M	—	100x	as long as short
Kraken Futures PF_HYPEUSD	+0.0332%	1h	92.771	−0.063%	$20.6M	$30.5M	50x	as long as short
BloFin HYPE-USDT	+0.0340%	4h	92.733	−0.104%	$16.7M	$11.6M	75x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0354%	1h	92.793	−0.040%	$7.5M	$4.5M	50x	as long as short
RISEx HYPE/USDC	+0.0687%	1h	92.778	−0.056%	$3.2M	$6.4M	20x	as long as short