HYPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0166%/8h= +18.1% APRnext payment +$1.66 per $10,000 · paid last 24h −0.033%

Price spread now: Kalshi against Paradex+0.051%7-day average +0.009% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$260.263% of the position

Long on Paradex Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.111%−$11 on $10k

Price spread, last 4 days (all we have)−0.045%−$5 · spread now +0.051%, 7d avg +0.009%

Together, before fees−0.156%+ Points / potential airdropParadex: Active · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Kalshi is 0.042% dearer against Paradex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.009%. Mind the row above: over the last 4 days funding on this pair cost −0.111%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex HYPE-USD-PERP	93.239	0.0095	pay 0.0095% / 8h	6h 39m	$339K	$165K	20x
Short	Kalshi KXHYPEPERP	93.286	0.0260	get 0.0260% / 8h	2h 39m	$1.9M	$5.2M	2.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Paradex. 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 ParadexbpFee KalshibpOrdersPrice spread, now +0.051%Rate

Funding earned: $34.79
Price spread: +0.051% → +0.009%: $4.19
Slippage, 4 orders: −$12.3
Fee Paradex: 2 bp × 2 orders: −$4
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $12.68
Costs to cover: 0.263%
Break-even: 4.4 days

Slippage from Paradex: live order book, 30 min ago; Kalshi: live order book, 5 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 Paradex live order book, 30 min ago	1.44 bp	3.4 bp −$3	9.8 bp −$98	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	3.10 bp	11.3 bp −$11	12.7 bp −$127	20.3 bp −$2,032	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	−0.0944%	1h	92.980	−0.278%	$196K	$229K	7x	as long as short
Arcus HYPE-USD	−0.0786%	1h	92.992	−0.265%	$1.2M	$3.9M	10x	as long as short
Aftermath Perps HYPEUSD	−0.0167%	1h	93.221	−0.019%	$22K	$21K	10x	as long as short
Ondo Perps HYPE-USD.P	−0.0152%	1h	93.080	−0.170%	$696K	$981K	10x	as long as short
Gate HYPE_USDT	−0.0096%	4h	93.250	+0.012%	$44.2M	$54.2M	75x	as long as short
Backpack HYPE_USDC_PERP	−0.0090%	1h	93.247	+0.009%	$7.8M	$10.4M	20x	as long as short
01 Exchange HYPEUSD	−0.0080%	1h	93.153	−0.092%	$84K	$357K	20x	as long as short
Hotstuff HYPE-PERP	−0.0080%	1h	93.062	−0.190%	$3K	$331	25x	as long as short
Orderly PERP_HYPE_USDC	−0.0057%	4h	93.228	−0.012%	$156K	$652K	20x	as long as short
Aster HYPEUSDT	−0.0042%	4h	93.249	+0.011%	$8.8M	$36.3M	300x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin HYPE-PERP	−0.0028%	1h	93.257	+0.019%	$79K	$174K	20x	as long as short
Phemex HYPEUSDT	−0.0025%	8h	93.199	−0.043%	$12.6M	$2.7M	50x	as long as short
dYdX HYPE-USD	0.0000%	1h	93.089	−0.161%	$128K	$31K	5x	as long as short
Perpl HYPE	0.0000%	43m	93.255	+0.017%	$22K	$333K	10x	as long as short
gTrade (Gains Network) HYPE/USD	L +0.0002% / S −0.0003%	1h	93.286	+0.051%	$25K	—	150x	as long as short
Bybit HYPEUSDT	+0.0003%	8h	93.230	−0.010%	$320.7M	$286.0M	75x	as long as short
BingX HYPE-USDT	+0.0006%	4h	93.256	+0.018%	—	$54.3M	—	as long as short
Bullet HYPE-USD	+0.0030%	1h	93.263	+0.026%	$111K	$579K	20x	as long as short
MEXC HYPE_USDT	+0.0040%	4h	93.248	+0.010%	$87.6M	$82.5M	100x	as long as short
Binance HYPEUSDT	+0.0040%	4h	93.246	+0.008%	$379.3M	$906.9M	75x	as long as short
edgeX HYPEUSDC	+0.0056%	4h	93.325	+0.092%	$5.1M	$29.8M	30x	as long as short
Phoenix HYPE	+0.0060%	1h	93.233	−0.006%	$212K	$1.2M	10x	as long as short
OKX HYPE-USDT-SWAP	+0.0067%	8h	93.234	−0.005%	$114.8M	$315.3M	50x	as long as short
Derive HYPE-PERP	+0.0067%	1h	93.215	−0.026%	$16.2M	$7.6M	10x	as long as short
Aevo HYPE-PERP	+0.0088%	1h	93.277	+0.041%	$397K	$177K	20x	as long as short
Paradex HYPE-USD-PERPlong	+0.0095%	8h	93.239	long leg	$339K	$165K	20x
Lighter HYPE	+0.0096%	1h	93.269	+0.032%	$16.4M	$62.3M	20x	as long as short
Lighter RH HYPE	+0.0096%	1h	93.265	+0.028%	$3.1M	$11.9M	20x	as long as short
Popdex HYPEUSDT	+0.0096%	1h	93.152	−0.093%	$65K	$1.2M	50x	as long as short
Katana Perps HYPE-USD	+0.0100%	8h	93.020	−0.235%	$18K	$1.6M	10x	as long as short
Nado HYPE-PERP	+0.0100%	1h	93.215	−0.026%	$5.6M	$45.3M	10x	as long as short
Hyperliquid HYPE	+0.0100%	1h	93.334	+0.102%	$2.04B	$668.3M	10x	as long as short
Pacifica HYPE	+0.0100%	1h	93.157	−0.087%	$10.0M	$14.8M	20x	as long as short
Bulk HYPE-USD	+0.0100%	1h	93.404	+0.177%	$203K	$10K	10x	as long as short
KuCoin HYPEUSDTM	+0.0100%	4h	93.281	+0.045%	$46.0M	$18.4M	75x	as long as short
Bitget HYPEUSDT	+0.0100%	4h	93.255	+0.017%	$225.6M	$100.8M	75x	as long as short
Variational Omni HYPE	+0.0100%	8h	93.151	−0.095%	$30.9M	$55.0M	—	as long as short
GRVT HYPE_USDT_Perp	+0.0100%	4h	93.195	−0.047%	$7.5M	$48.1M	10x	as long as short
ApeX Omni HYPEUSDT	+0.0100%	1h	93.355	+0.125%	$337K	$1.1M	50x	as long as short
StandX HYPE-USD	+0.0100%	1h	93.050	−0.203%	$664K	$2.6M	20x	as long as short
Vest HYPE-PERP	+0.0100%	1h	93.242	+0.003%	—	$243K	5x	as long as short
Polymarket Perps HYPE-USD	+0.0100%	1h	93.208	−0.033%	$466K	$2.5M	20x	as long as short
SunX HYPE-USDT	+0.0100%	4h	93.322	+0.089%	$32K	$1.6M	20x	as long as short
SoDEX HYPE-USD	+0.0100%	1h	93.260	+0.023%	$2.0M	$2.0M	10x	as long as short
Extended HYPE-USD	+0.0104%	1h	93.205	−0.036%	$18.3M	$44.5M	50x	as long as short
Coinbase International HYPE-PERP-INTX	+0.0136%	1h	93.310	+0.076%	$4.9M	$5.5M	50x	as long as short
Injective HYPE/USDC PERP	+0.0137%	1h	93.050	−0.203%	$30K	$338K	12x	as long as short
BloFin HYPE-USDT	+0.0175%	4h	93.407	+0.180%	$17.0M	$12.1M	75x	as long as short
RISEx HYPE/USDC	+0.0210%	1h	93.162	−0.082%	$2.7M	$6.7M	20x	as long as short
HTX HYPE-USDT	+0.0237%	4h	93.400	+0.173%	$1.4M	$6.1M	75x	as long as short
Reya HYPERUSDPERP	+0.0254%	1h	93.254	+0.016%	$79K	$142K	15x	as long as short
Kalshi KXHYPEPERPshort	+0.0260%	8h	93.286	+0.051%	$1.9M	$5.2M	2.3x
GMX HYPE/USD [WBTC.b-USDC]	L +0.0334% / S −0.0158%	1h	93.279	+0.043%	$1.4M	—	100x	as long as short
Deribit HYPE_USDC-PERPETUAL	+0.0672%	1h	93.369	+0.140%	$7.4M	$4.5M	50x	as long as short
Kraken Futures PF_HYPEUSD	+0.0683%	1h	93.363	+0.133%	$20.8M	$30.2M	50x	as long as short