KAS

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0290%/8h= −31.8% APRnext payment −$0.36 per $10,000 · paid last 24h +0.160%

Price spread now: Kraken Futures against Hyperliquid−0.127%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs+$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1101.101% of the position

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.425%+$143 on $10k

Price spread, last 3 days (all we have)+0.951%+$95 · spread now −0.127%, 7d avg +0.013%

Together, before fees+2.376%+ Points / potential airdropHyperliquid: Season 2 · farm board+$238 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Kraken Futures is 0.139% cheaper against Hyperliquid than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.013%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.425%, 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	Hyperliquid KAS	0.04404	0.0100	pay 0.0013% / 1h	55m 02s	$2.9M	$900K	3x
Short	Kraken Futures PF_KASUSD	0.04398	−0.0190	pay 0.0024% / 1h	55m 02s	$291K	$432K	20x

Funding 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee Kraken FuturesbpOrdersPrice spread, now −0.127%Rate

Funding earned: −$60.92
Price spread: −0.127% → +0.013%: −$13.92
Slippage, 4 orders: −$91.06
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$184.9
Costs to cover: 1.101%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Kraken Futures: live order book, 32 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 Hyperliquid live order book, 6 min ago	2.72 bp	23.6 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 32 min ago	8.98 bp	37.3 bp −$37	167.2 bp −$1,672	doesn't fit	doesn't fit

KAS on 15 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_KASUSDshort	−0.0190%	1h	0.04398	−0.127%	$291K	$432K	20x
Injective KAS/USDC PERP	−0.0009%	1h	0.04423	+0.441%	$46	$102K	5.5x	as long as short
gTrade (Gains Network) KAS/USD	L +0.0010% / S −0.0017%	1h	0.04394	−0.229%	$11K	—	150x	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0035% / S +0.0059%	1h	0.04396	−0.182%	$4K	—	100x	as long as short
Hyperliquid KASlong	+0.0100%	1h	0.04404	long leg	$2.9M	$900K	3x
Binance KASUSDT	+0.0100%	4h	0.04397	−0.150%	$4.1M	$10.9M	75x	as long as short
Bybit KASUSDT	+0.0100%	4h	0.04394	−0.218%	$10.8M	$7.1M	50x	as long as short
Gate KAS_USDT	+0.0100%	8h	0.04388	−0.354%	$2.2M	$1.6M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04400	−0.082%	$28.0M	$4.5M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04395	−0.188%	$4.2M	$6.8M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget KASUSDT	+0.0100%	4h	0.04395	−0.195%	$12.1M	$2.9M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04394	−0.218%	—	$69.1M	—	as long as short
Variational Omni KAS	+0.0100%	4h	0.04386	−0.400%	$26K	$20K	—	as long as short
Aster KASUSDT	+0.0132%	4h	0.04394	−0.218%	$258K	$199K	20x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04384	−0.445%	$390K	$225K	75x	as long as short