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Funding arb · Price arb /

HYPE

all HYPE markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 07:00 UTC−0.0166%/8h= −18.2% APRpaid last 24h −0.044%
Price spread now: Kalshi against Reya+0.268%7-day average +0.052% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on ReyaShort on Kalshi
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.089%−$9 on $10k
Price spread, last 4 days (all we have)−0.247%−$25 · spread now +0.268%, 7d avg +0.052%
Together, before fees−0.336%+ Points / potential airdropReya: Active · farm board−$34 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kalshi is 0.217% dearer against Reya than usual: you sell high and buy low (spread +0.268% now, against its 7-day average of +0.052%): +$22 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 4.4 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongReya HYPERUSDPERP93.8790.0272pay 0.0034% / 1h25m 56s$77K$129K15x
ShortKalshi KXHYPEPERP94.1310.0105get 0.0105% / 8h5h 25m$1.8M$5.6M2.3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kalshi against Reya. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$34.88
Price spread: +0.268% → +0.052%
$21.69
Slippage, 4 orders
no order book: not counted
Fee Reya: 3 bp × 2 orders
−$6
Fee Kalshi: 5 bp × 2 orders
−$10
Net
−$29.19
Costs to cover
0.160%
Break-even
from the start
Slippage unknown: Reya: no order-book sample; Kalshi: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Reya no order-book sample—————
Sell Kalshi live order book, 3 min ago2.83 bp11.0 bp −$1112.4 bp −$12419.2 bp −$1,916doesn't fit
Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.0992%1h93.495−0.409%$198K$238K7xas long as short
Aftermath Perps HYPEUSD−0.0191%1h93.590−0.308%$22K$21K10xas long as short
BingX HYPE-USDT−0.0100%4h94.210+0.353%—$53.5M—as long as short
Hotstuff HYPE-PERP−0.0080%1h93.665−0.228%$3K$33125xas long as short
Bullet HYPE-USD−0.0066%1h93.8790.000%$111K$579K20xas long as short
Ondo Perps HYPE-USD.P−0.0062%1h93.650−0.244%$705K$1.2M10xas long as short
01 Exchange HYPEUSD−0.0040%1h93.899+0.021%$86K$368K20xas long as short
Orderly PERP_HYPE_USDC−0.0017%4h94.032+0.163%$146K$683K20xas long as short
dYdX HYPE-USD0.0000%1h93.880+0.001%$129K$26K5xas long as short
Perpl HYPE0.0000%43m93.907+0.030%$20K$290K10xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit HYPEUSDT+0.0002%8h94.199+0.341%$318.4M$288.2M75xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0001%1h94.048+0.180%$83K—150xas long as short
Bluefin HYPE-PERP+0.0006%1h94.072+0.206%$79K$155K20xas long as short
Derive HYPE-PERP+0.0007%1h93.302−0.614%$16.2M$7.5M10xas long as short
Phoenix HYPE+0.0017%1h93.623−0.273%$208K$1.1M10xas long as short
Bitget HYPEUSDT+0.0050%4h94.262+0.408%$227.1M$99.7M75xas long as short
Paradex HYPE-USD-PERP+0.0078%8h93.823−0.060%$335K$161K20xas long as short
Phemex HYPEUSDT+0.0081%8h94.187+0.328%$12.9M$2.8M50xas long as short
Arcus HYPE-USD+0.0084%1h93.785−0.100%$1.0M$4.0M10xas long as short
edgeX HYPEUSDC+0.0093%4h93.551−0.350%$5.0M$30.5M30xas long as short
Lighter HYPE+0.0096%1h94.222+0.365%$16.2M$64.1M20xas long as short
Lighter RH HYPE+0.0096%1h94.210+0.353%$3.2M$11.1M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.865−0.015%$78K$1.2M50xas long as short
Katana Perps HYPE-USD+0.0100%8h93.770−0.116%$21K$1.7M10xas long as short
Nado HYPE-PERP+0.0100%1h93.855−0.026%$7.5M$50.6M10xas long as short
Hyperliquid HYPE+0.0100%1h94.395+0.549%$2.07B$689.0M10xas long as short
Aster HYPEUSDT+0.0100%4h94.168+0.308%$8.9M$37.1M300xas long as short
Pacifica HYPE+0.0100%1h93.773−0.113%$10.1M$15.5M20xas long as short
Binance HYPEUSDT+0.0100%4h94.217+0.360%$377.0M$931.4M75xas long as short
OKX HYPE-USDT-SWAP+0.0100%8h94.216+0.359%$116.3M$317.3M50xas long as short
Gate HYPE_USDT+0.0100%4h94.231+0.375%$48.9M$55.9M75xas long as short
MEXC HYPE_USDT+0.0100%4h94.255+0.401%$89.7M$84.6M100xas long as short
KuCoin HYPEUSDTM+0.0100%4h94.285+0.432%$46.7M$18.7M75xas long as short
Backpack HYPE_USDC_PERP+0.0100%1h94.311+0.460%$7.2M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h93.449−0.458%$28.7M$56.3M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.492−0.412%$7.5M$48.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h93.566−0.333%$354K$1.0M50xas long as short
StandX HYPE-USD+0.0100%1h93.643−0.251%$678K$2.7M20xas long as short
Vest HYPE-PERP+0.0100%1h93.8790.000%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.895+0.017%$471K$2.8M20xas long as short
SunX HYPE-USDT+0.0100%4h93.925+0.049%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h94.141+0.279%$2.0M$1.9M10xas long as short
HTX HYPE-USDT+0.0100%4h94.352+0.504%$1.4M$6.7M75xas long as short
Bulk HYPE-USD+0.0100%1h93.438−0.469%$216K$15K10xas long as short
Extended HYPE-USD+0.0104%1h94.223+0.367%$18.2M$43.3M50xas long as short
Aevo HYPE-PERP+0.0104%1h94.104+0.239%$398K$159K20xas long as short
Kalshi KXHYPEPERPshort+0.0105%8h94.131+0.268%$1.8M$5.6M2.3x
Coinbase International HYPE-PERP-INTX+0.0120%1h94.190+0.331%$4.7M$6.2M50xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0151% / S +0.0022%1h93.681−0.211%$1.4M—100xas long as short
Injective HYPE/USDC PERP+0.0205%1h93.540−0.361%$30K$339K12xas long as short
Reya HYPERUSDPERPlong+0.0272%1h93.879long leg$77K$129K15x
BloFin HYPE-USDT+0.0340%4h93.642−0.252%$16.9M$12.2M75xas long as short
Kraken Futures PF_HYPEUSD+0.0413%1h94.262+0.408%$21.0M$29.5M50xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0462%1h94.187+0.328%$7.5M$4.2M50xas long as short
RISEx HYPE/USDC+0.0559%1h93.935+0.060%$3.2M$6.3M20xas long as short