Funding you earn now, next payment 22:00 UTC+0.0615%/8h= +67.3% APRnext payment +$0.77 per $10,000 · paid last 24h +0.034%
Price spread now: Hyperliquid against Kraken Futures−0.018%7-day average +0.120% · you buy dearer than you sell
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$520.517% of the position
Funding, last 7 days+0.355%+$35 on $10k
+Price spread, last 3 days (all we have)+0.172%+$17 · spread now −0.018%, 7d avg +0.120%
=Together, before fees+0.526%+ Points / potential airdropHyperliquid: Season 2 · farm board+$53 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.138% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.018% now, against its 7-day average of +0.120%). If the spread goes back, that is −$14 on $10k: about 18 hours of funding at the current rate (+$18 a day). At the pace of the last 7 days (+0.355% in total) that is about 2.7 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.355% in total (about 18.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.77 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_FILUSD | 0.9760 | −0.0628 | get 0.0078% / 1h | 44m 14s | $1.4M | $2.2M | 50x |
| Short | Hyperliquid FIL | 0.9758 | −0.0013 | pay 0.0002% / 1h | 44m 14s | $8.5M | $9.4M | 5x |
Kraken Futures PF_FILUSD
Hyperliquid FILFunding 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
- $129.08
- Price spread: −0.018% → +0.120%
- −$13.76
- Slippage, 4 orders
- −$32.66
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $63.66
- Costs to cover
- 0.517%
- Break-even
- 3.5 days
Slippage from Kraken Futures: live order book, 4 min ago; Hyperliquid: live order book, 8 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, 4 min ago | 4.10 bp | 13.1 bp −$13 | 29.9 bp −$299 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 8 min ago | 0.72 bp | 9.7 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
FIL on 29 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 FIL_USDC-PERPETUAL | −0.0773% | 1h | 0.9766 | +0.063% | $168K | $23K | 25x | as long as short |
| Kraken Futures PF_FILUSDlong | −0.0628% | 1h | 0.9760 | long leg | $1.4M | $2.2M | 50x | |
| Lighter FIL | −0.0504% | 1h | 0.9753 | −0.073% | $156K | $332K | 5x | as long as short |
| Coinbase International FIL-PERP-INTX | −0.0328% | 1h | 0.9755 | −0.050% | $312K | $1.9M | 50x | as long as short |
| Bybit FILUSDT | −0.0084% | 8h | 0.9763 | +0.032% | $15.3M | $17.9M | 25x | as long as short |
| Variational Omni FIL | −0.0037% | 8h | 0.9748 | −0.126% | $433K | $276K | — | as long as short |
| Bitget FILUSDT | −0.0030% | 8h | 0.9754 | −0.060% | $10.7M | $22.0M | 75x | as long as short |
| Hyperliquid FILshort | −0.0013% | 1h | 0.9758 | −0.018% | $8.5M | $9.4M | 5x | |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9763 | +0.031% | $24K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9752 | −0.081% | $57K | $2K | 10x | as long as short |
Deribit FIL_USDC-PERPETUAL
Lighter FIL
Coinbase International FIL-PERP-INTX
Bybit FILUSDT
Variational Omni FIL
Bitget FILUSDT
gTrade (Gains Network) FIL/USD
dYdX FIL-USDShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX FIL-USDT-SWAP | +0.0013% | 8h | 0.9760 | +0.001% | $18.0M | $95.9M | 50x | as long as short |
| Injective FIL/USDC PERP | +0.0033% | 1h | 0.9751 | −0.091% | $2K | $148K | 12x | as long as short |
| KuCoin FILUSDTM | +0.0038% | 8h | 0.9758 | −0.019% | $7.3M | $7.1M | 50x | as long as short |
| Aster FILUSDT | +0.0100% | 8h | 0.9759 | −0.006% | $483K | $507K | 20x | as long as short |
| Binance FILUSDT | +0.0100% | 8h | 0.9759 | −0.009% | $55.8M | $175.9M | 75x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 0.9756 | −0.040% | $7.7M | $16.2M | 50x | as long as short |
| MEXC FIL_USDC | +0.0100% | 8h | 0.9748 | −0.122% | $248K | $104K | 50x | as long as short |
| BingX FIL-USDT | +0.0100% | 8h | 0.9760 | +0.001% | — | $11.8M | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9754 | −0.064% | $45K | $294K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9752 | −0.076% | $285K | $823K | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9760 | +0.001% | $42K | $193K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9767 | +0.073% | $5K | — | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9740 | −0.204% | $3K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9756 | −0.040% | $477 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9766 | +0.063% | $615K | $5.7M | 75x | as long as short |
| Phemex FILUSDT | +0.0100% | 8h | 0.9760 | +0.001% | $1.0M | $2.2M | 50x | as long as short |
| Extended FIL-USD | +0.0104% | 1h | 0.9755 | −0.052% | $678K | $2.3M | 10x | as long as short |
| BloFin FIL-USDT | +0.0220% | 8h | 0.9744 | −0.163% | $2.6M | $617K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0611% / S −0.0849% | 1h | 0.9764 | +0.039% | $206K | — | 100x | as long as short |
OKX FIL-USDT-SWAP
Injective FIL/USDC PERP
KuCoin FILUSDTM
Aster FILUSDT
Binance FILUSDT
Gate FIL_USDT
MEXC FIL_USDC
BingX FIL-USDT
edgeX FILUSDC
GRVT FIL_USDT_Perp
ApeX Omni FILUSDT
Orderly PERP_FIL_USDC_mythos
SunX FIL-USDT
SoDEX FIL-USD
HTX FIL-USDT
Phemex FILUSDT
Extended FIL-USD
BloFin FIL-USDT
GMX FIL/USD [WBTC.b-USDC]