Funding you earn now, next payment 02:00 UTC−0.0066%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h +0.824%
Price spread now: Kraken Futures against Hyperliquid−0.012%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid INIT | 0.08289 | 0.0100 | pay 0.0013% / 1h | 12m 01s | $301K | $230K | 3x |
| Short | Kraken Futures PF_INITUSD | 0.08288 | 0.0034 | get 0.0004% / 1h | 12m 01s | $5K | $17K | 10x |
Hyperliquid INIT
Kraken Futures PF_INITUSDFunding 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
- −$13.92
- Price spread: −0.012% → 0.000%
- −$1.25
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$34.16
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 27 min ago; Kraken Futures: no order-book sample. Net counts fees only.
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, 27 min ago | 1.14 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures no order-book sample | — | — | — | — | — |
Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
INIT on 12 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_INITUSDshort | +0.0034% | 1h | 0.08288 | −0.012% | $5K | $17K | 10x | |
| Hyperliquid INITlong | +0.0100% | 1h | 0.08289 | long leg | $301K | $230K | 3x | |
| Aster INITUSDT | +0.0100% | 4h | 0.08289 | −0.002% | $27K | $37K | 5x | as long as short |
| Binance INITUSDT | +0.0100% | 4h | 0.08286 | −0.037% | $3.4M | $3.7M | 25x | as long as short |
| Bybit INITUSDT | +0.0100% | 4h | 0.08282 | −0.088% | $1.4M | $1.5M | 25x | as long as short |
| OKX INIT-USDT-SWAP | +0.0100% | 4h | 0.08294 | +0.057% | $137K | $654K | 10x | as long as short |
| Gate INIT_USDT | +0.0100% | 8h | 0.08286 | −0.040% | $84K | $55K | 25x | as long as short |
| MEXC INIT_USDT | +0.0100% | 4h | 0.08285 | −0.052% | $449K | $213K | 20x | as long as short |
| KuCoin INITUSDTM | +0.0100% | 4h | 0.08283 | −0.076% | $330K | $54K | 25x | as long as short |
| Bitget INITUSDT | +0.0100% | 4h | 0.08285 | −0.052% | $431K | $303K | 25x | as long as short |
Aster INITUSDT
Binance INITUSDT
Bybit INITUSDT
OKX INIT-USDT-SWAP
Gate INIT_USDT
MEXC INIT_USDT
KuCoin INITUSDTM
Bitget INITUSDTShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX INIT-USDT | +0.0100% | 4h | 0.08284 | −0.064% | — | $6.6M | — | as long as short |
| Variational Omni INIT | +0.0100% | 4h | 0.08263 | −0.312% | $26K | $23K | — | as long as short |
BingX INIT-USDT
Variational Omni INIT