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Funding arb · Price arb /

HYPE

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 01:00 UTC+0.0572%/8h= +62.6% APRnext payment +$0.72 per $10,000 · paid last 24h +0.023%
Price spread now: Kraken Futures against Nado+0.086%7-day average +0.045% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$270.274% of the position
Long on NadoShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.061%+$6 on $10k
Price spread, last 3 days (all we have)−0.056%−$6 · spread now +0.086%, 7d avg +0.045%
Together, before fees+0.005%+ Points / potential airdropNado: Active · farm board$0 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Kraken Futures is 0.042% dearer against Nado than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.045%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.061% in total (about 6.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.72 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongNado HYPE-PERP93.8740.0100pay 0.0012% / 1h6m 45s$6.6M$44.6M10x
ShortKraken Futures PF_HYPEUSD93.9550.0672get 0.0084% / 1h6m 45s$20.9M$29.8M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Nado. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$120.13
Price spread: +0.086% → +0.045%
$4.15
Slippage, 4 orders
−$10.36
Fee Nado: 3.5 bp × 2 orders
−$7
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$96.93
Costs to cover
0.274%
Break-even
1.4 days
Slippage from Nado: live order book, 2 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
LegHalf-spread$10k$100k$1M$5M
Buy Nado live order book, 2 min ago0.05 bp3.6 bp −$45.9 bp −$5929.4 bp −$2,942doesn't fit
Sell Kraken Futures live order book, 2 min ago1.38 bp8.5 bp −$89.0 bp −$9016.8 bp −$1,68455.7 bp −$27.9K

HYPE on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hibachi HYPE/USDT-P−0.1152%1h93.929+0.059%$199K$228K7xas long as short
Arcus HYPE-USD−0.0625%1h93.779−0.101%$1.2M$3.9M10xas long as short
Aftermath Perps HYPEUSD−0.0207%1h93.950+0.081%$22K$21K10xas long as short
Ondo Perps HYPE-USD.P−0.0097%1h93.860−0.014%$710K$958K10xas long as short
dYdX HYPE-USD−0.0084%1h93.911+0.040%$129K$31K5xas long as short
01 Exchange HYPEUSD−0.0080%1h93.865−0.009%$86K$359K20xas long as short
Hotstuff HYPE-PERP−0.0080%1h93.895+0.023%$3K$33125xas long as short
Phemex HYPEUSDT−0.0054%8h93.917+0.046%$12.8M$2.6M50xas long as short
Bullet HYPE-USD−0.0049%1h93.849−0.026%$113K$580K20xas long as short
Orderly PERP_HYPE_USDC−0.0032%4h93.846−0.029%$159K$643K20xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate HYPE_USDT−0.0016%4h93.843−0.032%$44.4M$60.3M75xas long as short
Perpl HYPE0.0000%43m93.909+0.038%$23K$327K10xas long as short
gTrade (Gains Network) HYPE/USDL +0.0002% / S −0.0003%1h93.886+0.014%$27K—150xas long as short
Aster HYPEUSDT+0.0007%4h93.842−0.033%$8.9M$36.0M300xas long as short
Derive HYPE-PERP+0.0010%1h93.817−0.060%$16.4M$7.6M10xas long as short
Bybit HYPEUSDT+0.0020%8h93.810−0.068%$322.9M$279.1M75xas long as short
Phoenix HYPE+0.0034%1h94.045+0.183%$214K$1.2M10xas long as short
MEXC HYPE_USDT+0.0054%4h93.812−0.066%$88.3M$83.3M100xas long as short
Binance HYPEUSDT+0.0054%4h93.828−0.048%$383.1M$893.8M75xas long as short
edgeX HYPEUSDC+0.0055%4h94.001+0.136%$5.1M$29.7M30xas long as short
OKX HYPE-USDT-SWAP+0.0072%8h93.791−0.088%$116.0M$314.3M50xas long as short
Bluefin HYPE-PERP+0.0088%1h93.848−0.027%$76K$170K20xas long as short
Lighter HYPE+0.0096%1h93.884+0.011%$18.9M$60.7M20xas long as short
Lighter RH HYPE+0.0096%1h93.828−0.048%$3.0M$12.2M20xas long as short
Popdex HYPEUSDT+0.0096%1h93.864−0.010%$64K$1.2M50xas long as short
Aevo HYPE-PERP+0.0096%1h93.840−0.036%$399K$180K20xas long as short
Paradex HYPE-USD-PERP+0.0099%8h93.921+0.051%$341K$165K20xas long as short
Katana Perps HYPE-USD+0.0100%8h93.890+0.018%$31K$1.6M10xas long as short
Nado HYPE-PERPlong+0.0100%1h93.874long leg$6.6M$44.6M10x
Hyperliquid HYPE+0.0100%1h93.919+0.048%$2.05B$668.4M10xas long as short
Pacifica HYPE+0.0100%1h93.847−0.028%$10.1M$14.7M20xas long as short
KuCoin HYPEUSDTM+0.0100%4h93.851−0.024%$46.6M$18.3M75xas long as short
Bitget HYPEUSDT+0.0100%4h93.866−0.008%$227.3M$100.2M75xas long as short
BingX HYPE-USDT+0.0100%4h93.850−0.025%—$53.9M—as long as short
Backpack HYPE_USDC_PERP+0.0100%1h93.818−0.059%$7.9M$10.6M20xas long as short
Variational Omni HYPE+0.0100%8h93.920+0.049%$31.4M$53.7M—as long as short
GRVT HYPE_USDT_Perp+0.0100%4h93.999+0.134%$7.6M$46.1M10xas long as short
ApeX Omni HYPEUSDT+0.0100%1h94.020+0.156%$340K$1.1M50xas long as short
StandX HYPE-USD+0.0100%1h93.897+0.025%$670K$2.6M20xas long as short
Vest HYPE-PERP+0.0100%1h93.913+0.042%—$243K5xas long as short
Polymarket Perps HYPE-USD+0.0100%1h93.898+0.026%$474K$2.5M20xas long as short
SunX HYPE-USDT+0.0100%4h93.917+0.046%$32K$1.6M20xas long as short
SoDEX HYPE-USD+0.0100%1h93.871−0.003%$2.0M$2.0M10xas long as short
Bulk HYPE-USD+0.0100%1h93.894+0.022%$204K$10K10xas long as short
Extended HYPE-USD+0.0104%1h93.802−0.076%$18.4M$45.1M50xas long as short
Coinbase International HYPE-PERP-INTX+0.0144%1h93.900+0.028%$4.9M$5.5M50xas long as short
Injective HYPE/USDC PERP+0.0205%1h93.810−0.068%$31K$338K12xas long as short
BloFin HYPE-USDT+0.0218%4h93.919+0.048%$17.1M$12.1M75xas long as short
RISEx HYPE/USDC+0.0222%1h93.915+0.044%$2.7M$6.7M20xas long as short
Kalshi KXHYPEPERP+0.0244%8h93.947+0.078%$1.9M$5.1M2.3xas long as short
Reya HYPERUSDPERP+0.0252%1h93.857−0.018%$79K$143K15xas long as short
GMX HYPE/USD [WBTC.b-USDC]L +0.0335% / S −0.0156%1h93.886+0.013%$1.4M—100xas long as short
HTX HYPE-USDT+0.0367%4h94.069+0.208%$1.5M$5.9M75xas long as short
Deribit HYPE_USDC-PERPETUAL+0.0410%1h93.963+0.095%$7.5M$4.6M50xas long as short
Kraken Futures PF_HYPEUSDshort+0.0672%1h93.955+0.086%$20.9M$29.8M50x