Funding arb · Price arb /

LTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.080%

Price spread now: Kalshi against Hyperliquid−0.001%7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on Hyperliquid Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.352%−$35 on $10k

Price spread, last 7 days+0.048%+$5 · spread now −0.001%, 7d avg −0.060%

Together, before fees−0.304%+ Points / potential airdropHyperliquid: Season 2 · farm board−$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.059% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.001% now, against its 7-day average of −0.060%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LTC	61.022	0.0100	pay 0.0013% / 1h	28m 47s	$37.3M	$25.3M	10x
Short	Kalshi KXLTCPERP	61.021	0	get 0.0000% / 8h	7h 28m	$347K	$4.3M	4x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Hyperliquid. 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 HyperliquidbpFee KalshibpOrdersPrice spread, now −0.001%Rate

Funding earned: −$21
Price spread: −0.001% → −0.060%: $5.9
Slippage, 4 orders: −$14.89
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$48.99
Costs to cover: 0.339%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 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 Hyperliquid live order book, 4 min ago	0.41 bp	5.3 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	2.05 bp	9.9 bp −$10	20.0 bp −$200	doesn't fit	doesn't fit

LTC on 37 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
GMX LTC/USD [ETH-USDC]	L −0.0254% / S +0.0399%	1h	60.983	−0.063%	$103K	—	200x	as long as short
Polymarket Perps LTC-USD	−0.0247%	1h	60.942	−0.131%	$93K	$612K	10x	as long as short
Kalshi KXLTCPERPshort	0.0000%	8h	61.021	−0.001%	$347K	$4.3M	4x
Deribit LTC_USDC-PERPETUAL	0.0000%	1h	61.000	−0.036%	$689K	$1.1M	50x	as long as short
gTrade (Gains Network) LTC/USD	L +0.0002% / S −0.0003%	1h	60.983	−0.064%	$30K	—	150x	as long as short
Variational Omni LTC	+0.0027%	8h	61.074	+0.086%	$3.6M	$2.6M	—	as long as short
Injective LTC/USDC PERP	+0.0033%	1h	58.730	−3.756%	$5K	$22K	12x	as long as short
Lighter LTC	+0.0096%	1h	61.004	−0.029%	$941K	$1.6M	10x	as long as short
Orderly PERP_LTC_USDC	+0.0099%	8h	60.980	−0.069%	$13K	$147K	20x	as long as short
Paradex LTC-USD-PERP	+0.0100%	8h	60.967	−0.089%	$14K	$10K	20x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LTC-PERP	+0.0100%	1h	60.970	−0.085%	$268K	$331K	10x	as long as short
Hyperliquid LTClong	+0.0100%	1h	61.022	long leg	$37.3M	$25.3M	10x
Aster LTCUSDT	+0.0100%	8h	60.976	−0.075%	$2.6M	$2.6M	75x	as long as short
Pacifica LTC	+0.0100%	1h	61.017	−0.008%	$533K	$83K	10x	as long as short
Binance LTCUSDT	+0.0100%	8h	60.940	−0.134%	$89.9M	$232.0M	75x	as long as short
Bybit LTCUSDT	+0.0100%	8h	60.940	−0.134%	$77.5M	$61.6M	75x	as long as short
OKX LTC-USDT-SWAP	+0.0100%	8h	60.940	−0.134%	$26.9M	$76.3M	50x	as long as short
Gate LTC_USDT	+0.0100%	8h	60.950	−0.118%	$12.8M	$21.9M	75x	as long as short
MEXC LTC_USDT	+0.0100%	8h	60.940	−0.134%	$58.0M	$35.4M	200x	as long as short
KuCoin LTCUSDTM	+0.0100%	8h	60.940	−0.134%	$18.2M	$13.1M	75x	as long as short
Bitget LTCUSDT	+0.0100%	8h	60.940	−0.134%	$31.3M	$22.9M	75x	as long as short
BingX LTC-USDC	+0.0100%	8h	60.940	−0.134%	—	$6.5M	—	as long as short
Backpack LTC_USDC_PERP	+0.0100%	1h	60.962	−0.098%	$147K	$278K	10x	as long as short
edgeX LTCUSDC	+0.0100%	4h	61.018	−0.007%	$41K	$375K	20x	as long as short
GRVT LTC_USDT_Perp	+0.0100%	8h	61.083	+0.100%	$346K	$2.0M	10x	as long as short
ApeX Omni LTCUSDT	+0.0100%	1h	61.070	+0.079%	$107K	$716K	50x	as long as short
SunX LTC-USDT	+0.0100%	8h	61.030	+0.013%	$17K	$3.9M	30x	as long as short
SoDEX LTC-USD	+0.0100%	1h	60.980	−0.069%	$163	$5K	10x	as long as short
HTX LTC-USDT	+0.0100%	8h	60.950	−0.118%	$2.0M	$5.0M	75x	as long as short
Phemex LTCUSDT	+0.0100%	8h	61.000	−0.036%	$21.6M	$8.9M	50x	as long as short
Extended LTC-USD	+0.0104%	1h	60.922	−0.163%	$679K	$1.1M	25x	as long as short
Aevo LTC-PERP	+0.0104%	1h	60.970	−0.085%	$466K	—	3x	as long as short
BloFin LTC-USDT	+0.0220%	8h	61.010	−0.019%	$4.7M	$12.3M	50x	as long as short
dYdX LTC-USD	+0.0230%	1h	61.018	−0.007%	$429K	$7K	10x	as long as short
Kraken Futures PF_LTCUSD	+0.0230%	1h	60.998	−0.040%	$6.7M	$6.3M	50x	as long as short
Reya LTCRUSDPERP	+0.0337%	1h	60.964	−0.094%	$8K	—	25x	as long as short
Coinbase International LTC-PERP-INTX	+0.0792%	1h	61.110	+0.145%	$1.1M	$2.4M	50x	as long as short