AR

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.2046%/8h= −224.1% APRnext payment −$2.56 per $10,000 · paid last 24h −0.377%

Price spread now: Kraken Futures against Hyperliquid−0.334%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$276as in the Funding arb table

Net, price: spread back to 7d avg − costs−$146as in the Price arb table

costs, in and out, $10k−$1161.160% of the position

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.597%−$160 on $10k

Price spread, last 3 days (all we have)+0.064%+$6 · spread now −0.334%, 7d avg −0.039%

Together, before fees−1.533%+ Points / potential airdropHyperliquid: Season 2 · farm board−$153 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$61 a day on $10k at the current rate, and Kraken Futures is 0.295% cheaper against Hyperliquid than usual: you would sell low and buy high (−$30 if the spread goes back to its 7-day average of −0.039%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AR	4.6397	0.0100	pay 0.0013% / 1h	10m 04s	$4.3M	$4.9M	5x
Short	Kraken Futures PF_ARUSD	4.6242	−0.1946	pay 0.0243% / 1h	10m 04s	$52K	$163K	20x

Funding 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 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 Kraken FuturesbpOrdersPrice spread, now −0.334%Rate

Funding earned: −$429.75
Price spread: −0.334% → −0.039%: −$29.55
Slippage, 4 orders: −$96.98
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$575.27
Costs to cover: 1.160%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 2 min ago; Kraken Futures: live order book, 2 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, 2 min ago	4.22 bp	13.0 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	35.76 bp	43.8 bp −$44	doesn't fit	doesn't fit	doesn't fit

AR on 17 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
Kraken Futures PF_ARUSDshort	−0.1946%	1h	4.6242	−0.334%	$52K	$163K	20x
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.6326	−0.154%	$595K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0069%	8h	4.6320	−0.166%	$2.4M	$21.2M	20x	as long as short
Extended AR-USD	+0.0008%	1h	4.6271	−0.272%	$37K	$237K	10x	as long as short
MEXC AR_USDT	+0.0008%	8h	4.6280	−0.252%	$6.7M	$4.5M	100x	as long as short
Binance ARUSDT	+0.0009%	8h	4.6350	−0.101%	$9.3M	$55.6M	75x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	−1.459%	$3K	$339	5.5x	as long as short
BloFin AR-USDT	+0.0034%	8h	4.6090	−0.662%	$438K	$680K	20x	as long as short
ApeX Omni ARUSDT	+0.0064%	1h	4.6300	−0.209%	$23K	$764K	50x	as long as short
Hyperliquid ARlong	+0.0100%	1h	4.6397	long leg	$4.3M	$4.9M	5x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ARUSDT	+0.0100%	8h	4.6321	−0.164%	$20K	$606K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.6380	−0.037%	$4.6M	$8.8M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.6290	−0.231%	$2.6M	$2.3M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.6260	−0.295%	$1.5M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.6280	−0.252%	$4.0M	$5.7M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.6290	−0.231%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.6108	−0.622%	$143K	$176K	—	as long as short