Funding you earn now, next payment 02:00 UTC−0.0255%/8h= −27.9% APRnext payment −$0.32 per $10,000 · paid last 24h −0.002%
Price spread now: Hyperliquid against Kraken Futures+0.036%7-day average −0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$360.362% of the position
Funding, last 7 days−0.133%−$13 on $10k
+Price spread, last 3 days (all we have)−0.171%−$17 · spread now +0.036%, 7d avg −0.010%
=Together, before fees−0.303%+ Points / potential airdropHyperliquid: Season 2 · farm board−$30 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.046% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.036% now, against its 7-day average of −0.010%): +$5 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−0.133% in total) that is about 2.4 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.133% in total (about -6.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.32 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 | Kraken Futures PF_ADAUSD | 0.2446 | 0.0355 | pay 0.0044% / 1h | 9m 19s | $6.2M | $12.2M | 50x |
| Short | Hyperliquid ADA | 0.2447 | 0.0100 | get 0.0013% / 1h | 9m 19s | $42.6M | $14.3M | 10x |
Kraken Futures PF_ADAUSD
Hyperliquid ADAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Kraken Futures. 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
- −$53.55
- Price spread: +0.036% → −0.010%
- $4.59
- Slippage, 4 orders
- −$17.18
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$85.15
- Costs to cover
- 0.362%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 5 min ago; Hyperliquid: 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 Kraken Futures live order book, 5 min ago | 3.67 bp | 13.7 bp −$14 | 21.1 bp −$211 | 68.0 bp −$6,799 | doesn't fit |
| Sell Hyperliquid live order book, 4 min ago | 0.20 bp | 4.7 bp −$5 | 8.9 bp −$89 | doesn't fit | doesn't fit |
ADA on 36 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 | 0.2445 | −0.056% | $201K | $3K | 10x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2445 | −0.026% | $84K | — | 150x | as long as short |
| Injective ADA/USDC PERP | +0.0033% | 1h | 0.2471 | +1.021% | $849 | $202K | 12x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0048% | 1h | 0.2447 | +0.040% | $404K | $7.4M | 50x | as long as short |
| Hyperliquid ADAshort | +0.0100% | 1h | 0.2447 | +0.036% | $42.6M | $14.3M | 10x | |
| Aster ADAUSDT | +0.0100% | 8h | 0.2446 | −0.001% | $1.2M | $977K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2447 | +0.056% | $157K | $159K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2447 | +0.031% | $102.7M | $371.7M | 75x | as long as short |
| Bybit ADAUSDT | +0.0100% | 8h | 0.2446 | −0.001% | $72.0M | $108.8M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2448 | +0.081% | $32.5M | $106.9M | 50x | as long as short |
dYdX ADA-USD
gTrade (Gains Network) ADA/USD
Injective ADA/USDC PERP
Coinbase International ADA-PERP-INTX
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDT
Bybit ADAUSDT
OKX ADA-USDT-SWAPShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ADA_USDT | +0.0100% | 8h | 0.2445 | −0.042% | $97.8M | $60.3M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2445 | −0.042% | $58.8M | $52.9M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2446 | −0.009% | $29.8M | $17.6M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2446 | −0.001% | $65.6M | $47.2M | 75x | as long as short |
| BingX ADA-USDT | +0.0100% | 8h | 0.2446 | −0.001% | — | $20.5M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2449 | +0.130% | $129K | $410K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2455 | +0.370% | $4.2M | $992K | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2456 | +0.408% | $65K | $282K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2454 | +0.344% | $297K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2454 | +0.326% | $56K | $589K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2446 | +0.011% | $93K | $670K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2446 | −0.001% | $6K | $16K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2447 | +0.041% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2448 | +0.077% | $8K | $759K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2447 | +0.044% | $337 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2446 | +0.008% | $1.3M | $5.9M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2446 | −0.001% | $47.6M | $6.3M | 50x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2446 | +0.015% | $532K | $1.8M | 50x | as long as short |
| Kalshi KXADAPERP | +0.0107% | 8h | 0.2449 | +0.122% | $163K | $6.3M | 3.2x | as long as short |
| Paradex ADA-USD-PERP | +0.0108% | 8h | 0.2448 | +0.086% | $21K | $250 | 20x | as long as short |
| Phoenix ADA | +0.0163% | 1h | 0.2456 | +0.404% | $4K | $87K | 10x | as long as short |
| Lighter ADA | +0.0192% | 1h | 0.2448 | +0.085% | $2.4M | $1.0M | 10x | as long as short |
| Reya ADARUSDPERP | +0.0281% | 1h | 0.2446 | −0.001% | $1K | — | 15x | as long as short |
| Kraken Futures PF_ADAUSDlong | +0.0355% | 1h | 0.2446 | long leg | $6.2M | $12.2M | 50x | |
| Deribit ADA_USDC-PERPETUAL | +0.0363% | 1h | 0.2447 | +0.048% | $500K | $470K | 50x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0415% / S −0.0202% | 1h | 0.2445 | −0.037% | $95K | — | 100x | as long as short |
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
Extended ADA-USD
Kalshi KXADAPERP
Paradex ADA-USD-PERP
Phoenix ADA
Lighter ADA
Reya ADARUSDPERP
Deribit ADA_USDC-PERPETUAL
GMX ADA/USD [WBTC.b-USDC]