Funding you earn now, next payment 02:00 UTC−0.0934%/8h= −102.3% APRnext payment −$1.17 per $10,000 · paid last 24h +0.005%
Price spread now: Kraken Futures against Hyperliquid+0.047%50s7-day average −0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$74as 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−$740.742% of the position
Funding, last 7 days+0.004%$0 on $10k
+Price spread, last 3 days (all we have)−0.176%−$18 · spread now +0.047%, 7d avg −0.010%
=Together, before fees−0.172%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kraken Futures is 0.057% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.047% now, against its 7-day average of −0.010%): +$6 on $10k if it goes back. Holding the pair costs −$28 a day in funding at the current rate, which eats that in about 5 hours. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.004% in total (about 0.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.17 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 FET | 0.2020 | 0.0192 | pay 0.0024% / 1h | 31m 22s | $9.0M | $8.3M | 5x |
| Short | Kraken Futures PF_FETUSD | 0.2021 | −0.0742 | pay 0.0093% / 1h | 31m 22s | $985K | $2.2M | 50x |
Hyperliquid FET
Kraken Futures PF_FETUSDFunding 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
- −$196.23
- Price spread: +0.047% → −0.010%
- $5.73
- Slippage, 4 orders
- −$55.22
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$264.71
- Costs to cover
- 0.742%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 11 min ago; Kraken Futures: live order book, 2 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, 11 min ago | 2.24 bp | 10.3 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 12.41 bp | 21.0 bp −$21 | 61.2 bp −$612 | doesn't fit | doesn't fit |
FET on 19 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 FET_USDC-PERPETUAL | −0.4676% | 1h | 0.2020 | −0.005% | $29K | $231K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0760% | 1h | 0.2016 | −0.203% | $147K | $216K | 50x | as long as short |
| Kraken Futures PF_FETUSDshort | −0.0742% | 1h | 0.2021 | +0.047% | $985K | $2.2M | 50x | |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0015% | 1h | 0.2018 | −0.081% | $23K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | −0.500% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2019 | −0.036% | $260K | $718K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2018 | −0.104% | $31.2M | $112.7M | 75x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.2018 | −0.104% | $2.7M | $12.4M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2018 | −0.104% | $31.7M | $25.0M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2018 | −0.104% | $10.6M | $19.2M | 50x | as long as short |
Deribit FET_USDC-PERPETUAL
Coinbase International FET-PERP-INTX
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Binance FETUSDT
Gate FET_USDT
MEXC FET_USDT
KuCoin FETUSDTMShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni FET | +0.0100% | 8h | 0.2011 | −0.441% | $332K | $420K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2017 | −0.153% | $38K | $7K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2016 | −0.179% | $33K | $247K | 10x | as long as short |
| OKX FET-USDT-SWAP | +0.0145% | 4h | 0.2019 | −0.054% | $992K | $8.1M | 20x | as long as short |
| Hyperliquid FETlong | +0.0192% | 1h | 0.2020 | long leg | $9.0M | $8.3M | 5x | |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2019 | −0.073% | $13K | — | 100x | as long as short |
| BingX FET-USDT | +0.0326% | 8h | 0.2019 | −0.054% | — | $6.0M | — | as long as short |
| Bitget FETUSDT | +0.0351% | 8h | 0.2019 | −0.054% | $16.2M | $11.8M | 75x | as long as short |
| Phoenix FET | +0.0474% | 1h | 0.2020 | −0.015% | $35K | $43K | 5x | as long as short |
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
OKX FET-USDT-SWAP
GMX FET/USD [ETH-USDC]
BingX FET-USDT
Bitget FETUSDT
Phoenix FET