Funding you earn now, next payment 03:00 UTC−0.0195%/8h= −21.3% APRnext payment −$0.24 per $10,000 · paid last 24h +0.168%
Price spread now: Hyperliquid against Kraken Futures+0.019%7-day average +0.088% · you sell dearer than you buy
Net, funding: paid 7d − costs−$6as in the Funding arb table
Net, price: spread back to 7d avg − costs−$61as in the Price arb table
costs, in and out, $10k−$540.545% of the position
Funding, last 7 days+0.489%+$49 on $10k
+Price spread, last 4 days (all we have)−0.083%−$8 · spread now +0.019%, 7d avg +0.088%
=Together, before fees+0.406%+ Points / potential airdropHyperliquid: Season 2 · farm board+$41 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Hyperliquid is 0.069% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.088%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.489%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ICPUSD | 2.9736 | 0.0295 | pay 0.0037% / 1h | 43m 53s | $523K | $640K | 50x |
| Short | Hyperliquid ICP | 2.9742 | 0.0100 | get 0.0013% / 1h | 43m 53s | $4.6M | $5.0M | 5x |
Kraken Futures PF_ICPUSD
Hyperliquid ICPFunding 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
- −$40.93
- Price spread: +0.019% → +0.088%
- −$6.88
- Slippage, 4 orders
- −$35.49
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$102.29
- Costs to cover
- 0.545%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 19 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, 19 min ago | 5.00 bp | 20.2 bp −$20 | 46.3 bp −$463 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 8 min ago | 1.00 bp | 7.9 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
ICP on 27 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 ICP_USDC-PERPETUAL | −0.0019% | 1h | 2.9700 | −0.122% | $265 | $464 | 50x | as long as short |
| dYdX ICP-USD | 0.0000% | 1h | 2.9743 | +0.022% | $69K | $4K | 5x | as long as short |
| gTrade (Gains Network) ICP/USD | L +0.0006% / S −0.0011% | 1h | 2.9700 | −0.122% | $22K | — | 150x | as long as short |
| Injective ICP/USDC PERP | +0.0033% | 1h | 2.9665 | −0.240% | $202 | $200K | 12x | as long as short |
| Variational Omni ICP | +0.0044% | 8h | 2.9685 | −0.174% | $1.1M | $116K | — | as long as short |
| Lighter ICP | +0.0096% | 1h | 2.9730 | −0.022% | $161K | $483K | 5x | as long as short |
| Hyperliquid ICPshort | +0.0100% | 1h | 2.9742 | +0.019% | $4.6M | $5.0M | 5x | |
| Aster ICPUSDT | +0.0100% | 8h | 2.9733 | −0.010% | $275K | $1.7M | 20x | as long as short |
| Pacifica ICP | +0.0100% | 1h | 2.9724 | −0.041% | $135K | $10K | 5x | as long as short |
| Binance ICPUSDT | +0.0100% | 8h | 2.9730 | −0.022% | $29.3M | $53.6M | 75x | as long as short |
Deribit ICP_USDC-PERPETUAL
dYdX ICP-USD
gTrade (Gains Network) ICP/USD
Injective ICP/USDC PERP
Variational Omni ICP
Lighter ICP
Aster ICPUSDT
Pacifica ICP
Binance ICPUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ICPUSDT | +0.0100% | 8h | 2.9730 | −0.022% | $17.3M | $19.0M | 75x | as long as short |
| OKX ICP-USDT-SWAP | +0.0100% | 8h | 2.9750 | +0.046% | $5.8M | $16.9M | 50x | as long as short |
| Gate ICP_USDT | +0.0100% | 8h | 2.9720 | −0.055% | $1.9M | $3.1M | 50x | as long as short |
| MEXC ICP_USDT | +0.0100% | 8h | 2.9720 | −0.055% | $19.2M | $10.2M | 50x | as long as short |
| KuCoin ICPUSDTM | +0.0100% | 8h | 2.9710 | −0.089% | $4.8M | $13.2M | 50x | as long as short |
| Bitget ICPUSDT | +0.0100% | 8h | 2.9740 | +0.012% | $7.0M | $4.9M | 50x | as long as short |
| BingX ICP-USDT | +0.0100% | 8h | 2.9730 | −0.022% | — | $6.0M | — | as long as short |
| edgeX ICPUSDC | +0.0100% | 4h | 2.9700 | −0.123% | $23K | $281K | 10x | as long as short |
| GRVT ICP_USDT_Perp | +0.0100% | 8h | 2.9691 | −0.152% | $564K | $492K | 10x | as long as short |
| SunX ICP-USDT | +0.0100% | 8h | 2.9700 | −0.122% | $2K | $1.8M | 20x | as long as short |
| HTX ICP-USDT | +0.0100% | 8h | 2.9680 | −0.190% | $104K | $182K | 20x | as long as short |
| Phemex ICPUSDT | +0.0100% | 8h | 2.9810 | +0.247% | $1.8M | $794K | 50x | as long as short |
| Extended ICP-USD | +0.0104% | 1h | 2.9702 | −0.115% | $22K | $123K | 10x | as long as short |
| BloFin ICP-USDT | +0.0220% | 8h | 2.9750 | +0.046% | — | $2.2M | 75x | as long as short |
| Kraken Futures PF_ICPUSDlong | +0.0295% | 1h | 2.9736 | long leg | $523K | $640K | 50x | |
| Coinbase International ICP-PERP-INTX | +0.0320% | 1h | 2.9750 | +0.046% | $64K | $67K | 50x | as long as short |
| GMX ICP/USD [WBTC.b-USDC] | L +0.0506% / S −0.0480% | 1h | 2.9690 | −0.156% | $37K | — | 100x | as long as short |
Bybit ICPUSDT
OKX ICP-USDT-SWAP
Gate ICP_USDT
MEXC ICP_USDT
KuCoin ICPUSDTM
Bitget ICPUSDT
BingX ICP-USDT
edgeX ICPUSDC
GRVT ICP_USDT_Perp
SunX ICP-USDT
HTX ICP-USDT
Phemex ICPUSDT
Extended ICP-USD
BloFin ICP-USDT
Coinbase International ICP-PERP-INTX
GMX ICP/USD [WBTC.b-USDC]