AR

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.2036%/8h= +223.0% APRnext payment +$2.55 per $10,000 · paid last 24h +0.377%

Price spread now: Hyperliquid against Kraken Futures+0.136%7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs+$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1141.143% of the position

Long on Kraken Futures Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+1.588%+$159 on $10k

Price spread, last 3 days (all we have)+0.200%+$20 · spread now +0.136%, 7d avg +0.040%

Together, before fees+1.787%+ Points / potential airdropHyperliquid: Season 2 · farm board+$179 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$61 a day on $10k at the current rate, and Hyperliquid is 0.097% dearer against Kraken Futures than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ARUSD	4.4682	−0.1936	get 0.0242% / 1h	51m 17s	$46K	$154K	20x
Short	Hyperliquid AR	4.4743	0.0100	get 0.0013% / 1h	51m 17s	$3.8M	$4.8M	5x

Funding 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 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 Kraken FuturesbpFee HyperliquidbpOrdersPrice spread, now +0.136%Rate

Funding earned: $427.64
Price spread: +0.136% → +0.040%: $9.67
Slippage, 4 orders: −$95.34
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $322.98
Costs to cover: 1.143%
Break-even: 1.7 days

Slippage from Kraken Futures: live order book, 31 min ago; Hyperliquid: live order book, 11 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, 31 min ago	32.26 bp	40.3 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 11 min ago	3.37 bp	10.8 bp −$11	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_ARUSDlong	−0.1936%	1h	4.4682	long leg	$46K	$154K	20x
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.4707	+0.055%	$574K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+2.323%	$3K	$339	5.5x	as long as short
OKX AR-USDT-SWAP	+0.0090%	8h	4.4650	−0.072%	$2.2M	$20.5M	20x	as long as short
Hyperliquid ARshort	+0.0100%	1h	4.4743	+0.136%	$3.8M	$4.8M	5x
Aster ARUSDT	+0.0100%	8h	4.4738	+0.125%	$20K	$621K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.4680	−0.005%	$8.8M	$55.8M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.4662	−0.045%	$4.6M	$8.9M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4670	−0.027%	$2.5M	$2.3M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.4690	+0.018%	$6.8M	$4.5M	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTM	+0.0100%	8h	4.4680	−0.005%	$1.4M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4660	−0.049%	$3.8M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.4650	−0.072%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.4736	+0.121%	$135K	$174K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.4700	+0.040%	$57K	$747K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.4683	+0.003%	$36K	$237K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.4680	−0.005%	$418K	$667K	20x	as long as short