Funding you earn now, next payment 03:00 UTC−0.0787%/8h= −86.1% APRnext payment −$0.98 per $10,000 · paid last 24h +0.122%
Price spread now: Kraken Futures against Hyperliquid+0.054%7-day average +0.084% · you sell dearer than you buy
Net, funding: paid 7d − costs−$118as in the Funding arb table
Net, price: spread back to 7d avg − costs−$108as in the Price arb table
costs, in and out, $10k−$1051.047% of the position
Funding, last 7 days−0.138%−$14 on $10k
+Price spread, last 4 days (all we have)+0.248%+$25 · spread now +0.054%, 7d avg +0.084%
=Together, before fees+0.110%+ Points / potential airdropHyperliquid: Season 2 · farm board+$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Kraken Futures is 0.031% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.084%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.138% in total (about -7.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.98 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 GALA | 0.002094 | 0.0100 | pay 0.0013% / 1h | 41m 54s | $307K | $161K | 3x |
| Short | Kraken Futures PF_GALAUSD | 0.002095 | −0.0687 | pay 0.0086% / 1h | 41m 54s | $664K | $174K | 25x |
Hyperliquid GALA
Kraken Futures PF_GALAUSDFunding 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
- −$165.21
- Price spread: +0.054% → +0.084%
- −$3.08
- Slippage, 4 orders
- −$85.66
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$272.95
- Costs to cover
- 1.047%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 58 min ago; Kraken Futures: live order book, 21 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, 58 min ago | 2.40 bp | 17.8 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 21 min ago | 7.16 bp | 23.8 bp −$24 | 62.8 bp −$628 | doesn't fit | doesn't fit |
GALA 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_GALAUSDshort | −0.0687% | 1h | 0.002095 | +0.054% | $664K | $174K | 25x | |
| KuCoin GALAUSDTM | −0.0054% | 8h | 0.002092 | −0.096% | $1.7M | $5.7M | 75x | as long as short |
| Injective GALA/USDC PERP | +0.0033% | 1h | 0.002110 | +0.764% | $2K | $7K | 5.5x | as long as short |
| Hyperliquid GALAlong | +0.0100% | 1h | 0.002094 | long leg | $307K | $161K | 3x | |
| Aster GALAUSDT | +0.0100% | 8h | 0.002095 | +0.055% | $17K | $11K | 5x | as long as short |
| Binance GALAUSDT | +0.0100% | 8h | 0.002091 | −0.123% | $5.5M | $17.3M | 75x | as long as short |
| Bybit GALAUSDT | +0.0100% | 8h | 0.002091 | −0.143% | $6.1M | $6.4M | 75x | as long as short |
| OKX GALA-USDT-SWAP | +0.0100% | 8h | 0.002088 | −0.287% | $2.2M | $4.2M | 50x | as long as short |
| Gate GALA_USDT | +0.0100% | 8h | 0.002094 | 0.000% | $1.8M | $1.3M | 75x | as long as short |
| MEXC GALA_USDT | +0.0100% | 8h | 0.002091 | −0.143% | $6.0M | $3.4M | 125x | as long as short |
KuCoin GALAUSDTM
Injective GALA/USDC PERP
Aster GALAUSDT
Binance GALAUSDT
Bybit GALAUSDT
OKX GALA-USDT-SWAP
Gate GALA_USDT
MEXC GALA_USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget GALAUSDT | +0.0100% | 8h | 0.002092 | −0.096% | $2.2M | $1.2M | 75x | as long as short |
| BingX GALA-USDT | +0.0100% | 8h | 0.002093 | −0.048% | — | $11.1M | — | as long as short |
| Variational Omni GALA | +0.0100% | 8h | 0.002079 | −0.710% | $25K | $21K | — | as long as short |
| Extended GALA-USD | +0.0104% | 1h | 0.002093 | −0.035% | $3K | $145K | 5x | as long as short |
| BloFin GALA-USDT | +0.0112% | 8h | 0.002089 | −0.239% | $311K | $70K | 20x | as long as short |
Bitget GALAUSDT
BingX GALA-USDT
Variational Omni GALA
Extended GALA-USD
BloFin GALA-USDT