EIGEN

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0365%/8h= −39.9% APRnext payment −$0.46 per $10,000 · paid last 24h +0.156%

Price spread now: Kraken Futures against Hyperliquid+0.033%50s7-day average −0.112% · you sell dearer than you buy

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1391.386% 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+0.270%+$27 on $10k

Price spread, last 3 days (all we have)−0.574%−$57 · spread now +0.033%, 7d avg −0.112%

Together, before fees−0.304%+ Points / potential airdropHyperliquid: Season 2 · farm board−$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.145% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of −0.112%): +$14 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 32 hours. Mind the row above: over the last 7 days funding on this pair paid +0.270%, so the current rate has only just turned against you. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid EIGEN	0.2398	0.0677	pay 0.0085% / 1h	51m 26s	$4.8M	$1.5M	5x
Short	Kraken Futures PF_EIGENUSD	0.2399	0.0312	get 0.0039% / 1h	51m 26s	$174K	$67K	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 +0.033%Rate

Funding earned: −$76.59
Price spread: +0.033% → −0.112%: $14.46
Slippage, 4 orders: −$119.63
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$200.75
Costs to cover: 1.386%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Kraken Futures: live order book, 36 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, 10 min ago	2.07 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 36 min ago	8.22 bp	42.5 bp −$42	doesn't fit	doesn't fit	doesn't fit

EIGEN on 26 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 EIGEN_USDC-PERPETUAL	−0.0084%	1h	0.2394	−0.179%	—	$86	10x	as long as short
01 Exchange EIGENUSD	−0.0080%	1h	0.2391	−0.292%	$811	$5K	10x	as long as short
Bybit EIGENUSDT	−0.0031%	4h	0.2391	−0.300%	$9.5M	$8.1M	50x	as long as short
dYdX EIGEN-USD	0.0000%	1h	0.2393	−0.209%	$3K	—	5x	as long as short
Injective EIGEN/USDC PERP	+0.0033%	1h	0.2438	+1.668%	$6	$6	5.5x	as long as short
BloFin EIGEN-USDT	+0.0085%	4h	0.2392	−0.250%	$349K	$136K	75x	as long as short
Nado EIGEN-PERP	+0.0100%	1h	0.2391	−0.292%	$29K	$16K	3x	as long as short
Aster EIGENUSDT	+0.0100%	4h	0.2394	−0.183%	$44K	$24K	5x	as long as short
Binance EIGENUSDT	+0.0100%	4h	0.2393	−0.209%	$8.2M	$20.2M	75x	as long as short
OKX EIGEN-USDT-SWAP	+0.0100%	4h	0.2392	−0.250%	$1.6M	$5.0M	20x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate EIGEN_USDT	+0.0100%	4h	0.2391	−0.292%	$715K	$672K	50x	as long as short
MEXC EIGEN_USDT	+0.0100%	4h	0.2391	−0.292%	$8.3M	$2.2M	125x	as long as short
KuCoin EIGENUSDTM	+0.0100%	4h	0.2393	−0.209%	$2.3M	$10.7M	50x	as long as short
Bitget EIGENUSDT	+0.0100%	4h	0.2389	−0.375%	$1.9M	$1.4M	75x	as long as short
BingX EIGEN-USDC	+0.0100%	4h	0.2389	−0.375%	—	$6.5M	—	as long as short
Variational Omni EIGEN	+0.0100%	4h	0.2399	+0.062%	$201K	$152K	—	as long as short
GRVT EIGEN_USDT_Perp	+0.0100%	4h	0.2405	+0.275%	$188K	$2.1M	10x	as long as short
ApeX Omni EIGENUSDT	+0.0100%	1h	0.2398	0.000%	$36K	$235K	50x	as long as short
Orderly PERP_EIGEN_USDC_mythos	+0.0100%	4h	0.2394	−0.167%	$2K	$2K	10x	as long as short
Extended EIGEN-USD	+0.0104%	1h	0.2391	−0.304%	$90K	$496K	10x	as long as short
Coinbase International EIGEN-PERP-INTX	+0.0144%	1h	0.2395	−0.113%	$42K	$159K	50x	as long as short
GMX EIGEN/USD [ETH-USDC]	L +0.0194% / S −0.0568%	1h	0.2392	−0.267%	$2K	—	100x	as long as short
Kraken Futures PF_EIGENUSDshort	+0.0312%	1h	0.2399	+0.033%	$174K	$67K	20x
Reya EIGENRUSDPERP	+0.0511%	1h	0.2392	−0.255%	$835	—	15x	as long as short
Lighter EIGEN	+0.0528%	1h	0.2397	−0.058%	$577K	$392K	5x	as long as short
Hyperliquid EIGENlong	+0.0677%	1h	0.2398	long leg	$4.8M	$1.5M	5x