Funding you earn now, next payment 09:00 UTC−0.0665%/8h= −72.9% APRnext payment −$0.83 per $10,000 · paid last 24h −0.069%
Price spread now: Hyperliquid against Kraken Futures−0.068%7-day average +0.070% · you buy dearer than you sell
Net, funding: paid 7d − costs−$160as in the Funding arb table
Net, price: spread back to 7d avg − costs−$139as in the Price arb table
costs, in and out, $10k−$1251.251% of the position
Funding, last 7 days−0.354%−$35 on $10k
+Price spread, last 4 days (all we have)+0.442%+$44 · spread now −0.068%, 7d avg +0.070%
=Together, before fees+0.087%+ Points / potential airdropHyperliquid: Season 2 · farm board+$9 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Hyperliquid is 0.138% cheaper against Kraken Futures than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.070%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.354% in total (about -18.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.83 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 | Kraken Futures PF_JTOUSD | 0.5089 | 0.0765 | pay 0.0096% / 1h | 39m 20s | $323K | $369K | 25x |
| Short | Hyperliquid JTO | 0.5086 | 0.0100 | get 0.0013% / 1h | 39m 20s | $6.9M | $3.0M | 5x |
Kraken Futures PF_JTOUSD
Hyperliquid JTOFunding 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
- −$139.71
- Price spread: −0.068% → +0.070%
- −$13.83
- Slippage, 4 orders
- −$106.06
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$278.61
- Costs to cover
- 1.251%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 58 min ago; Hyperliquid: 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 Kraken Futures live order book, 58 min ago | 22.68 bp | 62.2 bp −$62 | 912.4 bp −$9,124 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 3 min ago | 0.98 bp | 13.3 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
JTO on 26 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 JTO_USDC-PERPETUAL | −0.0537% | 1h | 0.5077 | −0.239% | $13K | $30K | 10x | as long as short |
| Bybit JTOUSDT | −0.0082% | 4h | 0.5079 | −0.200% | $6.7M | $14.3M | 50x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5088 | −0.020% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5540 | +8.850% | — | — | — | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −2.283% | $31 | $43K | 5.5x | as long as short |
| Paradex JTO-USD-PERP | +0.0037% | 8h | 0.5084 | −0.102% | $487 | $10 | 5x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5085 | −0.082% | $114K | $240K | 10x | as long as short |
| Hyperliquid JTOshort | +0.0100% | 1h | 0.5086 | −0.068% | $6.9M | $3.0M | 5x | |
| Aster JTOUSDT | +0.0100% | 4h | 0.5083 | −0.114% | $118K | $233K | 10x | as long as short |
| Binance JTOUSDT | +0.0100% | 4h | 0.5076 | −0.259% | $10.7M | $28.4M | 75x | as long as short |
Deribit JTO_USDC-PERPETUAL
Bybit JTOUSDT
dYdX JTO-USD
Reya JTORUSDPERP
Injective JTO/USDC PERP
Paradex JTO-USD-PERP
Lighter JTO
Aster JTOUSDT
Binance JTOUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX JTO-USDT-SWAP | +0.0100% | 4h | 0.5075 | −0.278% | $3.7M | $9.8M | 50x | as long as short |
| Gate JTO_USDT | +0.0100% | 8h | 0.5080 | −0.180% | $879K | $924K | 75x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5076 | −0.259% | $6.3M | $3.4M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5087 | −0.039% | $1.5M | $580K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5081 | −0.160% | $2.3M | $2.3M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5078 | −0.219% | — | $8.6M | — | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5076 | −0.265% | $217K | $229K | — | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0100% | 4h | 0.5079 | −0.200% | $4K | $918 | 10x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5089 | −0.003% | $55K | −$0 | 10x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5075 | −0.286% | $522K | $2.7M | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC] | L +0.0223% / S −0.2181% | 1h | 0.5080 | −0.172% | $2K | — | 50x | as long as short |
| Backpack JTO_USDC_PERP | +0.0236% | 1h | 0.5090 | +0.024% | $241K | $320K | 10x | as long as short |
| Phoenix JTO | +0.0313% | 1h | 0.5089 | −0.003% | $370K | $128K | 5x | as long as short |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5080 | −0.180% | $582K | $562K | 75x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0464% | 1h | 0.5091 | +0.036% | $58K | $134K | 25x | as long as short |
| Kraken Futures PF_JTOUSDlong | +0.0765% | 1h | 0.5089 | long leg | $323K | $369K | 25x |
OKX JTO-USDT-SWAP
Gate JTO_USDT
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
BingX JTO-USDT
Variational Omni JTO
Orderly PERP_JTO_USDC_mythos
Bulk JTO-USD
Extended JTO-USD
GMX JTO/USD [WBTC.b-USDC]
Backpack JTO_USDC_PERP
Phoenix JTO
BloFin JTO-USDT
Coinbase International JTO-PERP-INTX