Funding you earn now, next payment 00:00 UTC−0.0258%/8h= −28.2% APRnext payment −$0.32 per $10,000 · paid last 24h −0.034%
Price spread now: Kraken Futures against Hyperliquid−0.127%7-day average −0.017% · you buy dearer than you sell
Net, funding: paid 7d − costs−$96as in the Funding arb table
Net, price: spread back to 7d avg − costs−$72as in the Price arb table
costs, in and out, $10k−$620.615% of the position
Funding, last 7 days−0.347%−$35 on $10k
+Price spread, last 3 days (all we have)+0.333%+$33 · spread now −0.127%, 7d avg −0.017%
=Together, before fees−0.014%+ Points / potential airdropHyperliquid: Season 2 · farm board−$1 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Kraken Futures is 0.109% cheaper against Hyperliquid than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.017%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ALGO | 0.1124 | 0.0100 | pay 0.0013% / 1h | 5m 23s | $3.7M | $1.9M | 5x |
| Short | Kraken Futures PF_ALGOUSD | 0.1122 | −0.0158 | pay 0.0020% / 1h | 5m 23s | $834K | $1.1M | 50x |
Hyperliquid ALGO
Kraken Futures PF_ALGOUSDFunding 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
- −$54.12
- Price spread: −0.127% → −0.017%
- −$10.94
- Slippage, 4 orders
- −$42.51
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$126.57
- Costs to cover
- 0.615%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 6 min ago; Kraken Futures: live order book, 3 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, 6 min ago | 1.78 bp | 12.6 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 6.66 bp | 21.0 bp −$21 | 60.0 bp −$600 | doesn't fit | doesn't fit |
ALGO on 22 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit ALGO_USDC-PERPETUAL | −0.0462% | 1h | 0.1122 | −0.142% | $102K | $50K | 25x | as long as short |
| Kraken Futures PF_ALGOUSDshort | −0.0158% | 1h | 0.1122 | −0.127% | $834K | $1.1M | 50x | |
| Bybit ALGOUSDT | −0.0151% | 8h | 0.1121 | −0.240% | $11.3M | $12.0M | 75x | as long as short |
| Variational Omni ALGO | −0.0132% | 8h | 0.1120 | −0.294% | $62K | $12K | — | as long as short |
| Coinbase International ALGO-PERP-INTX | −0.0112% | 1h | 0.1124 | +0.044% | $62K | $299K | 50x | as long as short |
| gTrade (Gains Network) ALGO/USD | L +0.0001% / S +0.0003% | 1h | 0.1123 | −0.098% | $6K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0026% | 1h | 0.1120 | −0.338% | $834 | $233K | 12x | as long as short |
| Hyperliquid ALGOlong | +0.0100% | 1h | 0.1124 | long leg | $3.7M | $1.9M | 5x | |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1123 | −0.069% | $44K | $36K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1122 | −0.178% | $10.0M | $34.2M | 75x | as long as short |
Deribit ALGO_USDC-PERPETUAL
Bybit ALGOUSDT
Variational Omni ALGO
Coinbase International ALGO-PERP-INTX
gTrade (Gains Network) ALGO/USD
Injective ALGO/USDC PERP
Aster ALGOUSDT
Binance ALGOUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1122 | −0.178% | $3.0M | $7.6M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1123 | −0.071% | $883K | $837K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1122 | −0.178% | $23.1M | $3.0M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1122 | −0.125% | $3.6M | $1.4M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1123 | −0.071% | $5.7M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1121 | −0.205% | — | $3.3M | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1122 | −0.196% | $66K | $107K | 75x | as long as short |
| Phemex ALGOUSDT | +0.0100% | 8h | 0.1124 | +0.018% | $3.8M | $1.8M | 50x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1122 | −0.198% | $7K | $210K | 10x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1122 | −0.196% | $491K | $793K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0332% / S −0.0333% | 1h | 0.1123 | −0.085% | $7K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1325% | 1h | 0.1122 | −0.150% | $161K | $3K | 5x | as long as short |
OKX ALGO-USDT-SWAP
Gate ALGO_USDT
MEXC ALGO_USDT
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
HTX ALGO-USDT
Phemex ALGOUSDT
Extended ALGO-USD
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD