Funding you earn now, next payment 01:00 UTC+0.0359%/8h= +39.3% APRnext payment +$0.45 per $10,000 · paid last 24h +0.032%
Price spread now: Hyperliquid against Kraken Futures−0.127%7-day average −0.038% · you buy dearer than you sell
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs−$99as in the Price arb table
costs, in and out, $10k−$910.905% of the position
Funding, last 7 days+0.137%+$14 on $10k
+Price spread, last 3 days (all we have)+0.037%+$4 · spread now −0.127%, 7d avg −0.038%
=Together, before fees+0.174%+ Points / potential airdropHyperliquid: Season 2 · farm board+$17 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.089% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.127% now, against its 7-day average of −0.038%). If the spread goes back, that is −$9 on $10k: about 20 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.137% in total) that is about 4.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.137% in total (about 7.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.45 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_AXSUSD | 1.0834 | −0.0259 | get 0.0032% / 1h | 15m 36s | $147K | $332K | 20x |
| Short | Hyperliquid AXS | 1.0820 | 0.0100 | get 0.0013% / 1h | 15m 36s | $268K | $308K | 5x |
Kraken Futures PF_AXSUSD
Hyperliquid AXSFunding 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
- $75.44
- Price spread: −0.127% → −0.038%
- −$8.94
- Slippage, 4 orders
- −$71.54
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$24.04
- Costs to cover
- 0.905%
- Break-even
- 9.2 days
Slippage from Kraken Futures: live order book, 57 min ago; Hyperliquid: live order book, 34 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, 57 min ago | 2.78 bp | 21.3 bp −$21 | 94.4 bp −$944 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 34 min ago | 2.32 bp | 23.5 bp −$23 | doesn't fit | doesn't fit | doesn't fit |
AXS on 20 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_AXSUSDlong | −0.0259% | 1h | 1.0834 | long leg | $147K | $332K | 20x | |
| Injective AXS/USDC PERP | +0.0033% | 1h | 1.0720 | −1.050% | $5 | $47K | 5.5x | as long as short |
| Orderly PERP_AXS_USDC | +0.0082% | 4h | 1.0820 | −0.127% | $3K | — | 10x | as long as short |
| Lighter AXS | +0.0096% | 1h | 1.0844 | +0.095% | $29K | $36K | 5x | as long as short |
| Hyperliquid AXSshort | +0.0100% | 1h | 1.0820 | −0.127% | $268K | $308K | 5x | |
| Aster AXSUSDT | +0.0100% | 4h | 1.0813 | −0.189% | $74K | $12K | 10x | as long as short |
| Binance AXSUSDT | +0.0100% | 4h | 1.0819 | −0.136% | $6.1M | $9.8M | 75x | as long as short |
| Bybit AXSUSDT | +0.0100% | 8h | 1.0829 | −0.044% | $3.7M | $4.1M | 75x | as long as short |
| OKX AXS-USDT-SWAP | +0.0100% | 4h | 1.0820 | −0.127% | $1.5M | $3.0M | 20x | as long as short |
| Gate AXS_USDT | +0.0100% | 8h | 1.0809 | −0.229% | $881K | $1.1M | 50x | as long as short |
Injective AXS/USDC PERP
Orderly PERP_AXS_USDC
Lighter AXS
Aster AXSUSDT
Binance AXSUSDT
Bybit AXSUSDT
OKX AXS-USDT-SWAP
Gate AXS_USDTShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC AXS_USDT | +0.0100% | 4h | 1.0817 | −0.155% | $11.5M | $744K | 50x | as long as short |
| KuCoin AXSUSDTM | +0.0100% | 4h | 1.0810 | −0.219% | $611K | $312K | 50x | as long as short |
| Bitget AXSUSDT | +0.0100% | 4h | 1.0820 | −0.127% | $3.2M | $1.2M | 50x | as long as short |
| BingX AXS-USDT | +0.0100% | 4h | 1.0820 | −0.127% | — | $2.6M | — | as long as short |
| Variational Omni AXS | +0.0100% | 8h | 1.0825 | −0.083% | $37K | $4K | — | as long as short |
| GRVT AXS_USDT_Perp | +0.0100% | 4h | 1.0740 | −0.865% | $765K | $889K | 10x | as long as short |
| SunX AXS-USDT | +0.0100% | 4h | 1.0830 | −0.035% | $1K | $1.3M | 20x | as long as short |
| SoDEX AXS-USD | +0.0100% | 1h | 1.0825 | −0.081% | $721 | $3K | 5x | as long as short |
| Extended AXS-USD | +0.0104% | 1h | 1.0814 | −0.186% | $7K | $241K | 10x | as long as short |
| BloFin AXS-USDT | +0.0107% | 4h | 1.0748 | −0.792% | $278K | $14K | 75x | as long as short |
MEXC AXS_USDT
KuCoin AXSUSDTM
Bitget AXSUSDT
BingX AXS-USDT
Variational Omni AXS
GRVT AXS_USDT_Perp
SunX AXS-USDT
SoDEX AXS-USD
Extended AXS-USD
BloFin AXS-USDT