Funding you earn now, next payment 23:00 UTC−0.0354%/8h= −38.8% APRnext payment −$0.44 per $10,000 · paid last 24h −0.135%
Price spread now: Kraken Futures against Hyperliquid+0.054%7-day average −0.068% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.197%+$20 on $10k
+Price spread, last 3 days (all we have)−0.019%−$2 · spread now +0.054%, 7d avg −0.068%
=Together, before fees+0.178%+ Points / potential airdropHyperliquid: Season 2 · farm board+$18 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kraken Futures is 0.123% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.054% now, against its 7-day average of −0.068%): +$12 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 28 hours. Mind the row above: over the last 7 days funding on this pair paid +0.197%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.197% in total (about 10.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.44 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 ETHFI | 0.7125 | 0.0100 | pay 0.0013% / 1h | 49m 37s | $18.1M | $8.9M | 5x |
| Short | Kraken Futures PF_ETHFIUSD | 0.7129 | −0.0254 | pay 0.0032% / 1h | 49m 37s | $280K | $145K | 20x |
Hyperliquid ETHFI
Kraken Futures PF_ETHFIUSDFunding 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
- −$74.33
- Price spread: +0.054% → −0.068%
- $12.25
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$81.08
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 3 min ago; Kraken Futures: live order book, 33 min ago. Net counts fees only.
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, 3 min ago | 0.63 bp | 10.7 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 33 min ago | 16.06 bp | 36.3 bp −$36 | 139.5 bp −$1,395 | doesn't fit | doesn't fit |
ETHFI on 24 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 ETHFI_USDC-PERPETUAL | −0.0733% | 1h | 0.7115 | −0.146% | $42K | $18K | 10x | as long as short |
| Kraken Futures PF_ETHFIUSDshort | −0.0254% | 1h | 0.7129 | +0.054% | $280K | $145K | 20x | |
| HTX ETHFI-USDT | −0.0210% | 4h | 0.7109 | −0.230% | $82K | $165K | 20x | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0177% | 4h | 0.7113 | −0.174% | $16K | $1K | 10x | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +1.608% | $321 | $51K | 5.5x | as long as short |
| Paradex ETHFI-USD-PERP | +0.0034% | 8h | 0.7113 | −0.181% | $6K | — | 5x | as long as short |
| Bitget ETHFIUSDT | +0.0062% | 4h | 0.7114 | −0.160% | $6.1M | $5.7M | 75x | as long as short |
| Extended ETHFI-USD | +0.0072% | 1h | 0.7111 | −0.204% | $92K | $493K | 10x | as long as short |
| MEXC ETHFI_USDT | +0.0072% | 4h | 0.7114 | −0.160% | $15.0M | $3.8M | 125x | as long as short |
| Binance ETHFIUSDT | +0.0073% | 4h | 0.7112 | −0.188% | $24.7M | $37.1M | 75x | as long as short |
Deribit ETHFI_USDC-PERPETUAL
HTX ETHFI-USDT
Orderly PERP_ETHFI_USDC
Injective ETHFI/USDC PERP
Paradex ETHFI-USD-PERP
Bitget ETHFIUSDT
Extended ETHFI-USD
MEXC ETHFI_USDT
Binance ETHFIUSDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter ETHFI | +0.0096% | 1h | 0.7119 | −0.086% | $1.1M | $898K | 5x | as long as short |
| Aevo ETHFI-PERP | +0.0096% | 1h | 0.7110 | −0.216% | $8K | — | 3x | as long as short |
| Hyperliquid ETHFIlong | +0.0100% | 1h | 0.7125 | long leg | $18.1M | $8.9M | 5x | |
| Aster ETHFIUSDT | +0.0100% | 4h | 0.7124 | −0.019% | $182K | $256K | 10x | as long as short |
| Bybit ETHFIUSDT | +0.0100% | 4h | 0.7119 | −0.090% | $18.1M | $12.9M | 25x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.7118 | −0.104% | $4.9M | $12.5M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.7118 | −0.104% | $1.7M | $2.0M | 75x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.7112 | −0.188% | $1.2M | $270K | 50x | as long as short |
| BingX ETHFI-USDT | +0.0100% | 4h | 0.7117 | −0.118% | — | $25.9M | — | as long as short |
| Variational Omni ETHFI | +0.0100% | 4h | 0.7124 | −0.021% | $1.0M | $745K | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.7117 | −0.112% | $59K | $85K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.7118 | −0.104% | $1K | $1.1M | 20x | as long as short |
| BloFin ETHFI-USDT | +0.0297% | 4h | 0.7118 | −0.104% | $1.2M | $291K | 75x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0304% | 1h | 0.7147 | +0.303% | $31K | $6K | 50x | as long as short |
Lighter ETHFI
Aevo ETHFI-PERP
Aster ETHFIUSDT
Bybit ETHFIUSDT
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
KuCoin ETHFIUSDTM
BingX ETHFI-USDT
Variational Omni ETHFI
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
BloFin ETHFI-USDT
Coinbase International ETHFI-PERP-INTX