Funding you earn now, next payment 22:00 UTC+0.0428%/8h= +46.9% APRnext payment +$0.54 per $10,000 · paid last 24h +0.023%
Price spread now: Hyperliquid against Kraken Futures−0.075%7-day average +0.025% · you buy dearer than you sell
Net, funding: paid 7d − costs−$64as in the Funding arb table
Net, price: spread back to 7d avg − costs−$88as in the Price arb table
costs, in and out, $10k−$780.777% of the position
Funding, last 7 days+0.142%+$14 on $10k
+Price spread, last 3 days (all we have)+0.211%+$21 · spread now −0.075%, 7d avg +0.025%
=Together, before fees+0.353%+ Points / potential airdropHyperliquid: Season 2 · farm board+$35 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.100% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.075% now, against its 7-day average of +0.025%). If the spread goes back, that is −$10 on $10k: about 19 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.142% in total) that is about 5.0 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.142% in total (about 7.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.54 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_LDOUSD | 0.4336 | −0.0328 | get 0.0041% / 1h | 51m 43s | $1.1M | $555K | 50x |
| Short | Hyperliquid LDO | 0.4332 | 0.0100 | get 0.0013% / 1h | 51m 43s | $12.1M | $3.4M | 5x |
Kraken Futures PF_LDOUSD
Hyperliquid LDOFunding 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
- $89.93
- Price spread: −0.075% → +0.025%
- −$10.03
- Slippage, 4 orders
- −$58.71
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $2.19
- Costs to cover
- 0.777%
- Break-even
- 6.8 days
Slippage from Kraken Futures: live order book, 2 min ago; Hyperliquid: live order book, 11 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, 2 min ago | 17.27 bp | 27.3 bp −$27 | 138.1 bp −$1,381 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 11 min ago | 1.03 bp | 9.8 bp −$10 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International LDO-PERP-INTX | −0.0688% | 1h | 0.4325 | −0.246% | $117K | $55K | 50x | as long as short |
| Kraken Futures PF_LDOUSDlong | −0.0328% | 1h | 0.4336 | long leg | $1.1M | $555K | 50x | |
| dYdX LDO-USD | 0.0000% | 1h | 0.4330 | −0.131% | $84K | $17K | 5x | as long as short |
| Deribit LDO_USDC-PERPETUAL | 0.0000% | 1h | 0.4334 | −0.038% | $3K | $10K | 25x | as long as short |
| Injective LDO/USDC PERP | +0.0033% | 1h | 0.4270 | −1.515% | $4K | $11 | 12x | as long as short |
| BloFin LDO-USDT | +0.0080% | 8h | 0.4339 | +0.077% | $795K | $229K | 75x | as long as short |
| Paradex LDO-USD-PERP | +0.0100% | 8h | 0.4312 | −0.548% | $3K | $56 | 20x | as long as short |
| Hyperliquid LDOshort | +0.0100% | 1h | 0.4332 | −0.075% | $12.1M | $3.4M | 5x | |
| Aster LDOUSDT | +0.0100% | 8h | 0.4332 | −0.079% | $170K | $144K | 10x | as long as short |
| Pacifica LDO | +0.0100% | 1h | 0.4325 | −0.234% | $111K | $182K | 10x | as long as short |
Coinbase International LDO-PERP-INTX
dYdX LDO-USD
Deribit LDO_USDC-PERPETUAL
Injective LDO/USDC PERP
BloFin LDO-USDT
Paradex LDO-USD-PERP
Aster LDOUSDT
Pacifica LDOShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance LDOUSDT | +0.0100% | 8h | 0.4325 | −0.245% | $18.0M | $38.0M | 75x | as long as short |
| Bybit LDOUSDT | +0.0100% | 8h | 0.4311 | −0.569% | $16.7M | $13.0M | 50x | as long as short |
| OKX LDO-USDT-SWAP | +0.0100% | 8h | 0.4310 | −0.592% | $4.1M | $9.1M | 50x | as long as short |
| Gate LDO_USDT | +0.0100% | 8h | 0.4313 | −0.523% | $1.4M | $1.1M | 50x | as long as short |
| MEXC LDO_USDT | +0.0100% | 8h | 0.4314 | −0.500% | $8.8M | $7.5M | 200x | as long as short |
| KuCoin LDOUSDTM | +0.0100% | 8h | 0.4328 | −0.177% | $2.9M | $4.3M | 50x | as long as short |
| Bitget LDOUSDT | +0.0100% | 8h | 0.4311 | −0.569% | $3.3M | $3.7M | 75x | as long as short |
| BingX LDO-USDT | +0.0100% | 8h | 0.4315 | −0.477% | — | $3.9M | — | as long as short |
| Backpack LDO_USDC_PERP | +0.0100% | 1h | 0.4333 | −0.059% | $89K | $186K | 10x | as long as short |
| Variational Omni LDO | +0.0100% | 8h | 0.4340 | +0.111% | $203K | $119K | — | as long as short |
| GRVT LDO_USDT_Perp | +0.0100% | 8h | 0.4344 | +0.192% | $303K | $3.6M | 10x | as long as short |
| ApeX Omni LDOUSDT | +0.0100% | 1h | 0.4340 | +0.100% | $35K | $645K | 50x | as long as short |
| Polymarket Perps LDO-USD | +0.0100% | 1h | 0.4334 | −0.034% | $26K | $688K | 5x | as long as short |
| SunX LDO-USDT | +0.0100% | 8h | 0.4433 | +2.245% | $2K | $1.5M | 20x | as long as short |
| Extended LDO-USD | +0.0104% | 1h | 0.4314 | −0.503% | $259K | $1.0M | 25x | as long as short |
| Aevo LDO-PERP | +0.0104% | 1h | 0.4330 | −0.140% | $38K | — | 3x | as long as short |
| Lighter LDO | +0.0120% | 1h | 0.4338 | +0.061% | $879K | $263K | 10x | as long as short |
| GMX LDO/USD [ETH-USDC] | L +0.0320% / S −0.0201% | 1h | 0.4334 | −0.030% | $24K | — | 100x | as long as short |
| Reya LDORUSDPERP | +0.0332% | 1h | 0.4329 | −0.156% | $302K | — | 15x | as long as short |
Binance LDOUSDT
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
Lighter LDO
GMX LDO/USD [ETH-USDC]
Reya LDORUSDPERP