Funding you earn now, next payment 22:00 UTC+0.0237%/8h= +26.0% APRnext payment +$0.30 per $10,000 · paid last 24h −0.004%
Price spread now: Kraken Futures against Hyperliquid−0.040%7-day average +0.008% · you buy dearer than you sell
Net, funding: paid 7d − costs−$23as in the Funding arb table
Net, price: spread back to 7d avg − costs−$41as in the Price arb table
costs, in and out, $10k−$360.362% of the position
Funding, last 7 days+0.131%+$13 on $10k
+Price spread, last 3 days (all we have)+0.216%+$22 · spread now −0.040%, 7d avg +0.008%
=Together, before fees+0.347%+ Points / potential airdropHyperliquid: Season 2 · farm board+$35 on $10k · with fees, hour by hour
Funding pays, the price is against you. Kraken Futures is 0.049% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.040% now, against its 7-day average of +0.008%). If the spread goes back, that is −$5 on $10k: about 16 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.131% in total) that is about 2.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.131% in total (about 6.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.30 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ADA | 0.2448 | 0.0100 | pay 0.0013% / 1h | 40m 05s | $42.4M | $14.5M | 10x |
| Short | Kraken Futures PF_ADAUSD | 0.2447 | 0.0337 | get 0.0042% / 1h | 40m 05s | $6.2M | $11.5M | 50x |
Hyperliquid ADA
Kraken Futures PF_ADAUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $49.83
- Price spread: −0.040% → +0.008%
- −$4.88
- Slippage, 4 orders
- −$17.23
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $8.73
- Costs to cover
- 0.362%
- Break-even
- 5.8 days
Slippage from Hyperliquid: live order book, 3 min ago; Kraken Futures: live order book, 4 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, 3 min ago | 0.61 bp | 7.7 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 4 min ago | 2.04 bp | 13.1 bp −$13 | 14.7 bp −$147 | 57.2 bp −$5,721 | doesn't fit |
ADA 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX ADA-USD | 0.0000% | 1h | 0.2447 | −0.030% | $201K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2447 | −0.029% | $153K | $5.8M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2447 | −0.038% | $87K | — | 150x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0056% | 1h | 0.2450 | +0.094% | $408K | $7.2M | 50x | as long as short |
| Deribit ADA_USDC-PERPETUAL | +0.0077% | 1h | 0.2447 | −0.008% | $475K | $355K | 50x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2448 | +0.016% | $2.4M | $1.3M | 10x | as long as short |
| Hyperliquid ADAlong | +0.0100% | 1h | 0.2448 | long leg | $42.4M | $14.5M | 10x | |
| Aster ADAUSDT | +0.0100% | 8h | 0.2446 | −0.063% | $1.2M | $1.0M | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2446 | −0.049% | $156K | $146K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2447 | −0.035% | $100.7M | $354.7M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Coinbase International ADA-PERP-INTX
Deribit ADA_USDC-PERPETUAL
Lighter ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ADAUSDT | +0.0100% | 8h | 0.2447 | −0.029% | $70.5M | $99.5M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2446 | −0.069% | $32.1M | $104.4M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2446 | −0.069% | $96.9M | $57.3M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2446 | −0.069% | $52.9M | $56.3M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2446 | −0.057% | $30.4M | $18.3M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2446 | −0.069% | $65.5M | $42.7M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2447 | −0.029% | — | $20.6M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2448 | 0.000% | $101K | $412K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2448 | −0.008% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2448 | −0.002% | $65K | $280K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2447 | −0.031% | $286K | $3.9M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2447 | −0.029% | $55K | $579K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2447 | −0.029% | $96K | $677K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2446 | −0.069% | $6K | $36K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2447 | −0.029% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2448 | +0.012% | $9K | $757K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2446 | −0.061% | $336 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2446 | −0.067% | $1.3M | $4.9M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2446 | −0.069% | $47.8M | $5.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2447 | −0.015% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2445 | −0.101% | $557K | $1.8M | 50x | as long as short |
| Phoenix ADA | +0.0195% | 1h | 0.2449 | +0.049% | $4K | $82K | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2448 | +0.012% | $4.4M | $5.4M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0287% | 1h | 0.2447 | −0.014% | $1K | — | 15x | as long as short |
| Kraken Futures PF_ADAUSDshort | +0.0337% | 1h | 0.2447 | −0.040% | $6.2M | $11.5M | 50x | |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0521% / S −0.0277% | 1h | 0.2446 | −0.060% | $113K | — | 100x | as long as short |
| Injective ADA/USDC PERP | +0.0533% | 1h | 0.2457 | +0.380% | $844 | $95K | 12x | as long as short |
Bybit ADAUSDT
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDT
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Paradex ADA-USD-PERP
Extended ADA-USD
Phoenix ADA
BloFin ADA-USDT
Reya ADARUSDPERP
GMX ADA/USD [WBTC.b-USDC]
Injective ADA/USDC PERP