Funding arb · Price arb /

HYPE

all HYPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0162%/8h= +17.8% APRpaid last 24h −0.022%

Price spread now: Kalshi against KuCoin−0.070%49s7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.374% of the position

Long on KuCoin Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.182%−$18 on $10k

Price spread, last 7 days+0.172%+$17 · spread now −0.070%, 7d avg +0.005%

Together, before fees−0.010%−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kalshi is 0.074% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of +0.005%). If the spread goes back, that is −$7 on $10k: about 37 hours of funding at the current rate (+$5 a day). Mind the row above: over the last 7 days funding on this pair cost −0.182%, so the current rate has only just turned in your favour. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HYPEUSDTM	93.415	0.0100	pay 0.0050% / 4h	2h 36m	$46.0M	$18.4M	75x
Short	Kalshi KXHYPEPERP	93.350	0.0262	get 0.0262% / 8h	2h 36m	$1.9M	$5.2M	2.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against KuCoin. 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 KuCoinbpFee KalshibpOrdersPrice spread, now −0.070%Rate

Funding earned: $34.12
Price spread: −0.070% → +0.005%: −$7.45
Slippage, 4 orders: −$15.42
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$10.74
Costs to cover: 0.374%
Break-even: 9.2 days

Slippage from KuCoin: live order book, 8 min ago; Kalshi: live order book, 2 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 KuCoin live order book, 8 min ago	0.38 bp	8.7 bp −$9	14.4 bp −$144	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	2.09 bp	8.8 bp −$9	11.6 bp −$116	20.9 bp −$2,090	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	−0.0920%	1h	93.285	−0.139%	$197K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	93.274	−0.151%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0168%	1h	93.268	−0.157%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0122%	1h	93.340	−0.080%	$698K	$985K	10x	as long as short
Backpack HYPE_USDC_PERP	−0.0082%	1h	93.289	−0.135%	$7.8M	$10.4M	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.204	−0.226%	$3K	$331	25x	as long as short
Gate HYPE_USDT	−0.0076%	4h	93.383	−0.034%	$44.3M	$54.4M	75x	as long as short
01 Exchange HYPEUSD	−0.0072%	1h	93.437	+0.024%	$85K	$358K	20x	as long as short
Orderly PERP_HYPE_USDC	−0.0057%	4h	93.232	−0.196%	$156K	$652K	20x	as long as short
Phemex HYPEUSDT	−0.0056%	8h	93.270	−0.155%	$12.7M	$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
Aster HYPEUSDT	−0.0034%	4h	93.390	−0.027%	$8.8M	$36.3M	300x	as long as short
Bluefin HYPE-PERP	−0.0022%	1h	93.253	−0.173%	$79K	$174K	20x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.349	−0.071%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.419	+0.004%	$22K	$333K	10x	as long as short
BingX HYPE-USDT	+0.0002%	4h	93.382	−0.035%	—	$54.3M	—	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.471	+0.060%	$26K	—	150x	as long as short
Bybit HYPEUSDT	+0.0004%	8h	93.393	−0.024%	$320.9M	$286.1M	75x	as long as short
Bullet HYPE-USD	+0.0031%	1h	93.449	+0.036%	$112K	$579K	20x	as long as short
MEXC HYPE_USDT	+0.0042%	4h	93.469	+0.058%	$87.9M	$82.6M	100x	as long as short
Binance HYPEUSDT	+0.0042%	4h	93.424	+0.009%	$380.0M	$906.6M	75x	as long as short
edgeX HYPEUSDC	+0.0056%	4h	93.153	−0.281%	$5.1M	$30.0M	30x	as long as short
Phoenix HYPE	+0.0060%	1h	93.170	−0.262%	$210K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0065%	8h	93.426	+0.012%	$114.9M	$315.4M	50x	as long as short
Derive HYPE-PERP	+0.0067%	1h	93.225	−0.203%	$16.2M	$7.7M	10x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.285	−0.139%	$397K	$177K	20x	as long as short
ApeX Omni HYPEUSDT	+0.0091%	1h	93.160	−0.273%	$337K	$1.1M	50x	as long as short
Paradex HYPE-USD-PERP	+0.0094%	8h	93.430	+0.016%	$339K	$165K	20x	as long as short
Lighter HYPE	+0.0096%	1h	93.386	−0.031%	$16.4M	$62.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.377	−0.041%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.426	+0.012%	$66K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.390	−0.027%	$21K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.377	−0.040%	$5.6M	$45.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.489	+0.079%	$2.04B	$669.1M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.399	−0.017%	$10.0M	$14.8M	20x	as long as short
KuCoin HYPEUSDTMlong	+0.0100%	4h	93.415	long leg	$46.0M	$18.4M	75x
Bitget HYPEUSDT	+0.0100%	4h	93.449	+0.036%	$226.1M	$100.6M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.151	−0.283%	$30.9M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.253	−0.173%	$7.5M	$48.3M	10x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.254	−0.172%	$665K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.425	+0.010%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.482	+0.072%	$468K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.390	−0.027%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.294	−0.130%	$2.0M	$2.0M	10x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.348	−0.072%	$203K	$10K	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.365	−0.053%	$18.3M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.430	+0.016%	$4.9M	$5.6M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.230	−0.198%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0175%	4h	93.407	−0.009%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.440	+0.027%	$2.7M	$6.7M	20x	as long as short
HTX HYPE-USDT	+0.0227%	4h	93.450	+0.037%	$1.4M	$6.2M	75x	as long as short
Reya HYPERUSDPERP	+0.0254%	1h	93.437	+0.024%	$79K	$142K	15x	as long as short
Kalshi KXHYPEPERPshort	+0.0262%	8h	93.350	−0.070%	$1.9M	$5.2M	2.3x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0158%	1h	93.326	−0.096%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0554%	1h	93.385	−0.032%	$7.5M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0683%	1h	93.385	−0.032%	$20.9M	$30.2M	50x	as long as short