Funding you earn now, next payment 00:00 UTC+0.0312%/8h= +34.2% APRnext payment +$0.39 per $10,000 · paid last 24h +0.120%
Price spread now: Kraken Futures against Backpack−0.019%7-day average +0.057% · you buy dearer than you sell
Net, funding: paid 7d − costs+$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$370.374% of the position
Funding, last 7 days+0.484%+$48 on $10k
+Price spread, last 3 days (all we have)+0.039%+$4 · spread now −0.019%, 7d avg +0.057%
=Funding pays, the price is against you. Kraken Futures is 0.077% cheaper against Backpack than usual: you would sell low and buy high (spread −0.019% now, against its 7-day average of +0.057%). If the spread goes back, that is −$8 on $10k: about 20 hours of funding at the current rate (+$9 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack HBAR_USDC_PERP | 0.09290 | 0.0100 | pay 0.0013% / 1h | 5m 09s | $34K | $101K | 15x |
| Short | Kraken Futures PF_HBARUSD | 0.09288 | 0.0412 | get 0.0052% / 1h | 5m 09s | $1.4M | $2.3M | 50x |
Backpack HBAR_USDC_PERP
Kraken Futures PF_HBARUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Backpack. 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
- $65.6
- Price spread: −0.019% → +0.057%
- −$7.66
- Slippage, 4 orders
- −$17.39
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $20.55
- Costs to cover
- 0.374%
- Break-even
- 4.8 days
Slippage from Backpack: live order book, 8 min ago; Kraken Futures: live order book, 3 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 Backpack live order book, 8 min ago | 0.54 bp | 7.5 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 2.15 bp | 9.6 bp −$10 | 16.4 bp −$164 | doesn't fit | doesn't fit |
HBAR on 28 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 | |
|---|---|---|---|---|---|---|---|---|
| KuCoin HBARUSDTM | −0.0073% | 8h | 0.09281 | −0.097% | $7.4M | $7.8M | 75x | as long as short |
| Gate HBAR_USDT | −0.0032% | 8h | 0.09285 | −0.054% | $2.4M | $3.6M | 75x | as long as short |
| dYdX HBAR-USD | 0.0000% | 1h | 0.09273 | −0.186% | $30K | $4K | 5x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0014% | 1h | 0.09279 | −0.114% | $8K | — | 150x | as long as short |
| Coinbase International HBAR-PERP-INTX | +0.0064% | 1h | 0.09267 | −0.248% | $221K | $2.2M | 50x | as long as short |
| Deribit HBAR_USDC-PERPETUAL | +0.0073% | 1h | 0.09291 | +0.011% | $512K | $166K | 50x | as long as short |
| Variational Omni HBAR | +0.0076% | 8h | 0.09262 | −0.299% | $1.0M | $202K | — | as long as short |
| Orderly PERP_HBAR_USDC | +0.0081% | 8h | 0.09276 | −0.151% | $2K | $17K | 10x | as long as short |
| MEXC HBAR_USDT | +0.0086% | 8h | 0.09283 | −0.075% | $26.0M | $22.5M | 200x | as long as short |
| Binance HBARUSDT | +0.0087% | 8h | 0.09299 | +0.097% | $34.9M | $109.5M | 75x | as long as short |
KuCoin HBARUSDTM
Gate HBAR_USDT
dYdX HBAR-USD
gTrade (Gains Network) HBAR/USD
Coinbase International HBAR-PERP-INTX
Deribit HBAR_USDC-PERPETUAL
Variational Omni HBAR
Orderly PERP_HBAR_USDC
MEXC HBAR_USDT
Binance HBARUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended HBAR-USD | +0.0088% | 1h | 0.09278 | −0.128% | $51K | $218K | 10x | as long as short |
| Lighter HBAR | +0.0096% | 1h | 0.09283 | −0.075% | $569K | $592K | 5x | as long as short |
| Hyperliquid HBAR | +0.0100% | 1h | 0.09300 | +0.107% | $8.9M | $2.9M | 5x | as long as short |
| Aster HBARUSDT | +0.0100% | 8h | 0.09285 | −0.051% | $212K | $429K | 50x | as long as short |
| Bybit HBARUSDT | +0.0100% | 8h | 0.09282 | −0.086% | $33.0M | $36.6M | 75x | as long as short |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09285 | −0.054% | $6.9M | $25.1M | 50x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09290 | 0.000% | $17.2M | $14.8M | 75x | as long as short |
| BingX HBAR-USDT | +0.0100% | 8h | 0.09289 | −0.011% | — | $5.9M | — | as long as short |
| Backpack HBAR_USDC_PERPlong | +0.0100% | 1h | 0.09290 | long leg | $34K | $101K | 15x | |
| GRVT HBAR_USDT_Perp | +0.0100% | 8h | 0.09273 | −0.183% | $374K | $2.2M | 10x | as long as short |
| ApeX Omni HBARUSDT | +0.0100% | 1h | 0.09277 | −0.140% | $149K | $708K | 50x | as long as short |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09283 | −0.075% | $431 | $6K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09284 | −0.065% | $74K | $55K | 20x | as long as short |
| Phemex HBARUSDT | +0.0100% | 8h | 0.09282 | −0.086% | $2.2M | $2.2M | 50x | as long as short |
| BloFin HBAR-USDT | +0.0207% | 8h | 0.09280 | −0.108% | $1.5M | $5.8M | 90x | as long as short |
| Injective HBAR/USDC PERP | +0.0242% | 1h | 0.09267 | −0.248% | $1K | $112K | 12x | as long as short |
| Kraken Futures PF_HBARUSDshort | +0.0412% | 1h | 0.09288 | −0.019% | $1.4M | $2.3M | 50x | |
| GMX HBAR/USD [WBTC.b-USDC] | L +0.0448% / S −0.0245% | 1h | 0.09280 | −0.113% | $132K | — | 100x | as long as short |
Extended HBAR-USD
Lighter HBAR
Hyperliquid HBAR
Aster HBARUSDT
Bybit HBARUSDT
OKX HBAR-USDT-SWAP
Bitget HBARUSDT
BingX HBAR-USDT
GRVT HBAR_USDT_Perp
ApeX Omni HBARUSDT
SoDEX HBAR-USD
HTX HBAR-USDT
Phemex HBARUSDT
BloFin HBAR-USDT
Injective HBAR/USDC PERP
GMX HBAR/USD [WBTC.b-USDC]