Funding you earn now, next payment 00:00 UTC−0.0074%/8h= −8.1% APRnext payment −$0.09 per $10,000 · paid last 24h −0.022%
Price spread now: Kraken Futures against Hyperliquid+0.014%7-day average −0.024% · you sell dearer than you buy
Net, funding: paid 7d − costs−$78as in the Funding arb table
Net, price: spread back to 7d avg − costs−$59as in the Price arb table
costs, in and out, $10k−$630.628% of the position
Funding, last 7 days−0.155%−$16 on $10k
+Price spread, last 3 days (all we have)−0.013%−$1 · spread now +0.014%, 7d avg −0.024%
=Together, before fees−0.168%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kraken Futures is 0.038% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.014% now, against its 7-day average of −0.024%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 41 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid LDO | 0.4344 | 0.0100 | pay 0.0013% / 1h | 30m 45s | $12.1M | $4.0M | 5x |
| Short | Kraken Futures PF_LDOUSD | 0.4344 | 0.0026 | get 0.0003% / 1h | 30m 45s | $1.1M | $525K | 50x |
Hyperliquid LDO
Kraken Futures PF_LDOUSDFunding 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
- −$15.5
- Price spread: +0.014% → −0.024%
- $3.78
- Slippage, 4 orders
- −$43.82
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$74.54
- Costs to cover
- 0.628%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 2 min ago; Kraken Futures: 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 Hyperliquid live order book, 2 min ago | 0.81 bp | 11.1 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 5.75 bp | 20.9 bp −$21 | doesn't fit | doesn't fit | doesn't fit |
LDO on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective LDO/USDC PERP | −0.5000% | 1h | 0.4110 | −5.380% | $4K | $14 | 12x | as long as short |
| Coinbase International LDO-PERP-INTX | −0.1016% | 1h | 0.4340 | −0.085% | $118K | $53K | 50x | as long as short |
| dYdX LDO-USD | 0.0000% | 1h | 0.4340 | −0.085% | $84K | $17K | 5x | as long as short |
| Deribit LDO_USDC-PERPETUAL | 0.0000% | 1h | 0.4343 | −0.016% | $3K | $10K | 25x | as long as short |
| Kraken Futures PF_LDOUSDshort | +0.0026% | 1h | 0.4344 | +0.014% | $1.1M | $525K | 50x | |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4340 | −0.090% | $3K | $56 | 20x | as long as short |
| Hyperliquid LDOlong | +0.0100% | 1h | 0.4344 | long leg | $12.1M | $4.0M | 5x | |
| Aster LDOUSDT | +0.0100% | 8h | 0.4340 | −0.086% | $171K | $149K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4341 | −0.062% | $111K | $178K | 10x | as long as short |
| Binance LDOUSDT | +0.0100% | 8h | 0.4339 | −0.108% | $18.1M | $37.6M | 75x | as long as short |
Injective LDO/USDC PERP
Coinbase International LDO-PERP-INTX
dYdX LDO-USD
Deribit LDO_USDC-PERPETUAL
Paradex LDO-USD-PERP
Aster LDOUSDT
Pacifica LDO
Binance LDOUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit LDOUSDT | +0.0100% | 8h | 0.4334 | −0.223% | $16.4M | $12.5M | 50x | as long as short |
| OKX LDO-USDT-SWAP | +0.0100% | 8h | 0.4333 | −0.246% | $4.1M | $9.1M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4339 | −0.108% | $1.4M | $1.1M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4340 | −0.085% | $8.4M | $7.5M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4341 | −0.062% | $2.8M | $4.2M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4335 | −0.200% | $3.4M | $3.6M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4341 | −0.062% | — | $3.7M | — | as long as short |
| Backpack LDO_USDC_PERP | +0.0100% | 1h | 0.4341 | −0.062% | $88K | $178K | 10x | as long as short |
| Variational Omni LDO | +0.0100% | 8h | 0.4337 | −0.154% | $203K | $82K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4345 | +0.022% | $308K | $3.4M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4350 | +0.145% | $35K | $649K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4343 | −0.028% | $23K | $736K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4442 | +2.263% | $1K | $1.5M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4336 | −0.183% | $261K | $1.0M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4343 | −0.028% | $38K | — | 3x | as long as short |
| BloFin LDO-USDT | +0.0122% | 8h | 0.4341 | −0.062% | $791K | $220K | 75x | as long as short |
| Lighter LDO | +0.0216% | 1h | 0.4347 | +0.085% | $882K | $268K | 10x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0320% / S −0.0201% | 1h | 0.4343 | −0.019% | $24K | — | 100x | as long as short |
| Reya LDORUSDPERP | +0.0335% | 1h | 0.4338 | −0.125% | $303K | — | 15x | as long as short |
Bybit LDOUSDT
OKX LDO-USDT-SWAP
Gate LDO_USDT
MEXC LDO_USDT
KuCoin LDOUSDTM
Bitget LDOUSDT
BingX LDO-USDT
Backpack LDO_USDC_PERP
Variational Omni LDO
GRVT LDO_USDT_Perp
ApeX Omni LDOUSDT
Polymarket Perps LDO-USD
SunX LDO-USDT
Extended LDO-USD
Aevo LDO-PERP
BloFin LDO-USDT
Lighter LDO
GMX LDO/USD [ETH-USDC]
Reya LDORUSDPERP