Funding you earn now, next payment 02:00 UTC−0.0720%/8h= −78.8% APRnext payment −$0.90 per $10,000 · paid last 24h −0.070%
Price spread now: Kraken Futures against Hyperliquid+0.196%7-day average +0.086% · you sell dearer than you buy
Net, funding: paid 7d − costs−$140as in the Funding arb table
Net, price: spread back to 7d avg − costs−$98as in the Price arb table
costs, in and out, $10k−$1091.095% of the position
Funding, last 7 days−0.304%−$30 on $10k
+Price spread, last 3 days (all we have)−0.185%−$18 · spread now +0.196%, 7d avg +0.086%
=Together, before fees−0.489%+ Points / potential airdropHyperliquid: Season 2 · farm board−$49 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kraken Futures is 0.110% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.196% now, against its 7-day average of +0.086%): +$11 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.304% in total) that is about 2.5 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.304% in total (about -15.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.90 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 | Hyperliquid COMP | 22.772 | 0.0100 | pay 0.0013% / 1h | 11m 18s | $875K | $364K | 5x |
| Short | Kraken Futures PF_COMPUSD | 22.817 | −0.0620 | pay 0.0077% / 1h | 11m 18s | $229K | $88K | 20x |
Hyperliquid COMP
Kraken Futures PF_COMPUSDFunding 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
- −$151.1
- Price spread: +0.196% → +0.086%
- $11
- Slippage, 4 orders
- −$90.45
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$249.56
- Costs to cover
- 1.095%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 39 min ago; Kraken Futures: live order book, 56 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, 39 min ago | 1.32 bp | 22.6 bp −$23 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 56 min ago | 9.16 bp | 31.3 bp −$31 | 109.0 bp −$1,090 | doesn't fit | doesn't fit |
COMP on 15 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 COMP_USDC-PERPETUAL | −0.0627% | 1h | 22.780 | +0.033% | $333 | $327 | 50x | as long as short |
| Kraken Futures PF_COMPUSDshort | −0.0620% | 1h | 22.817 | +0.196% | $229K | $88K | 20x | |
| dYdX COMP-USD | −0.0005% | 1h | 22.800 | +0.121% | $69K | — | 5x | as long as short |
| Injective COMP/USDC PERP | +0.0033% | 1h | 22.620 | −0.669% | $2K | $13K | 12x | as long as short |
| Hyperliquid COMPlong | +0.0100% | 1h | 22.772 | long leg | $875K | $364K | 5x | |
| Binance COMPUSDT | +0.0100% | 8h | 22.770 | −0.011% | $4.3M | $6.8M | 75x | as long as short |
| Bybit COMPUSDT | +0.0100% | 8h | 22.780 | +0.033% | $3.9M | $2.0M | 75x | as long as short |
| OKX COMP-USDT-SWAP | +0.0100% | 8h | 22.750 | −0.098% | $1.6M | $2.0M | 20x | as long as short |
| Gate COMP_USDT | +0.0100% | 8h | 22.780 | +0.033% | $223K | $57K | 25x | as long as short |
| MEXC COMP_USDT | +0.0100% | 8h | 22.780 | +0.033% | $2.6M | $820K | 20x | as long as short |
Deribit COMP_USDC-PERPETUAL
dYdX COMP-USD
Injective COMP/USDC PERP
Binance COMPUSDT
Bybit COMPUSDT
OKX COMP-USDT-SWAP
Gate COMP_USDT
MEXC COMP_USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin COMPUSDTM | +0.0100% | 8h | 22.780 | +0.033% | $458K | $89K | 30x | as long as short |
| Bitget COMPUSDT | +0.0100% | 8h | 22.760 | −0.054% | $1.9M | $624K | 75x | as long as short |
| BingX COMP-USDT | +0.0100% | 8h | 22.770 | −0.011% | — | $34.7M | — | as long as short |
| Variational Omni COMP | +0.0100% | 8h | 22.816 | +0.190% | $15K | $29K | — | as long as short |
| Coinbase International COMP-PERP-INTX | +0.0232% | 1h | 22.930 | +0.692% | $18K | $45K | 25x | as long as short |
KuCoin COMPUSDTM
Bitget COMPUSDT
BingX COMP-USDT
Variational Omni COMP
Coinbase International COMP-PERP-INTX