Funding you earn now, next payment 06:00 UTC+0.0922%/8h= +100.9% APRnext payment +$1.15 per $10,000 · paid last 24h +0.102%
Price spread now: Kraken Futures against Hyperliquid+0.501%50s7-day average −0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$800.804% of the position
Funding, last 7 days+0.445%+$44 on $10k
+Price spread, last 4 days (all we have)−0.206%−$21 · spread now +0.501%, 7d avg −0.026%
=Together, before fees+0.239%+ Points / potential airdropHyperliquid: Season 2 · farm board+$24 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$28 a day on $10k at the current rate, and Kraken Futures is 0.526% dearer against Hyperliquid than usual: you sell high and buy low: +$53 more if the spread goes back to its 7-day average of −0.026%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.445% in total (about 23.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.15 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 | Hyperliquid MON | 0.02478 | 0.0100 | pay 0.0013% / 1h | 40m 27s | $33.3M | $7.6M | 5x |
| Short | Kraken Futures PF_MONUSD | 0.02491 | 0.1022 | get 0.0128% / 1h | 40m 27s | $268K | $112K | 10x |
Hyperliquid MON
Kraken Futures PF_MONUSDFunding 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
- $193.59
- Price spread: +0.501% → −0.026%
- $52.65
- Slippage, 4 orders
- −$61.38
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $165.86
- Costs to cover
- 0.804%
- Break-even
- 1.0 days
Slippage from Hyperliquid: live order book, 3 min ago; Kraken Futures: live order book, 7 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, 3 min ago | 1.20 bp | 10.2 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 7 min ago | 20.01 bp | 32.2 bp −$32 | 439.2 bp −$4,392 | doesn't fit | doesn't fit |
MON on 33 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack MON_USDC_PERP | −0.0129% | 1h | 0.02484 | +0.250% | $109K | $153K | 10x | as long as short |
| Phoenix MON | 0.0000% | 1h | 0.02492 | +0.553% | $12K | $355K | 5x | as long as short |
| Deribit MON_USDC-PERPETUAL | 0.0000% | 1h | 0.02489 | +0.432% | $73K | $136K | 25x | as long as short |
| Bybit MONUSDT | +0.0005% | 8h | 0.02473 | −0.202% | $20.3M | $13.6M | 50x | as long as short |
| 01 Exchange MONUSD | +0.0032% | 1h | 0.02475 | −0.113% | $6K | $1K | 5x | as long as short |
| Injective MON/USDC PERP | +0.0039% | 1h | 0.02496 | +0.722% | $5K | $111 | 5.5x | as long as short |
| Orderly PERP_MON_USDC | +0.0083% | 4h | 0.02476 | −0.085% | $16K | $48K | 10x | as long as short |
| Lighter MON | +0.0096% | 1h | 0.02478 | −0.004% | $829K | $743K | 10x | as long as short |
| Paradex MON-USD-PERP | +0.0100% | 8h | 0.02479 | +0.033% | $7K | $42 | 5x | as long as short |
| Nado MON-PERP | +0.0100% | 1h | 0.02478 | +0.011% | $403K | $585K | 10x | as long as short |
Backpack MON_USDC_PERP
Phoenix MON
Deribit MON_USDC-PERPETUAL
Bybit MONUSDT
01 Exchange MONUSD
Injective MON/USDC PERP
Orderly PERP_MON_USDC
Lighter MON
Paradex MON-USD-PERP
Nado MON-PERPShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid MONlong | +0.0100% | 1h | 0.02478 | long leg | $33.3M | $7.6M | 5x | |
| Aster MONUSDT | +0.0100% | 4h | 0.02478 | +0.014% | $99K | $219K | 10x | as long as short |
| dYdX MON-USD | +0.0100% | 1h | 0.02479 | +0.020% | $12K | — | 5x | as long as short |
| Pacifica MON | +0.0100% | 1h | 0.02481 | +0.117% | $137K | $92K | 3x | as long as short |
| Binance MONUSDT | +0.0100% | 4h | 0.02475 | −0.125% | $23.5M | $27.3M | 75x | as long as short |
| OKX MON-USDT-SWAP | +0.0100% | 4h | 0.02475 | −0.125% | $4.1M | $6.0M | 50x | as long as short |
| Bulk MON-USD | +0.0100% | 1h | 0.02490 | +0.480% | $102K | $1K | 10x | as long as short |
| Gate MON_USDT | +0.0100% | 4h | 0.02475 | −0.125% | $924K | $1.0M | 50x | as long as short |
| KuCoin MONUSDTM | +0.0100% | 4h | 0.02481 | +0.117% | $2.8M | $764K | 75x | as long as short |
| Bitget MONUSDT | +0.0100% | 4h | 0.02478 | −0.004% | $2.7M | $2.2M | 25x | as long as short |
| Variational Omni MON | +0.0100% | 8h | 0.02485 | +0.262% | $739K | $405K | — | as long as short |
| edgeX MONUSDC | +0.0100% | 4h | 0.02490 | +0.461% | $41K | $250K | 10x | as long as short |
| GRVT MON_USDT_Perp | +0.0100% | 4h | 0.02495 | +0.682% | $562K | $1.5M | 10x | as long as short |
| ApeX Omni MONUSDT | +0.0100% | 1h | 0.02492 | +0.561% | $68K | $527K | 50x | as long as short |
| SoDEX MON-USD | +0.0100% | 1h | 0.02487 | +0.359% | $5K | $6K | 5x | as long as short |
| Extended MON-USD | +0.0104% | 1h | 0.02479 | +0.033% | $47K | $288K | 10x | as long as short |
| Aevo MON-PERP | +0.0104% | 1h | 0.02476 | −0.089% | $37K | — | 3x | as long as short |
| GMX MON/USD [ETH-USDC] | L +0.0230% / S −0.0246% | 1h | 0.02476 | −0.089% | $6K | — | 50x | as long as short |
| Aftermath Perps MONUSD | +0.0237% | 1h | 0.02492 | +0.551% | $2K | $78K | 10x | as long as short |
| BloFin MON-USDT | +0.0340% | 4h | 0.02484 | +0.238% | $1.3M | $338K | 75x | as long as short |
| Perpl MON | +0.0447% | 43m | 0.02479 | +0.024% | $113K | $2.2M | 10x | as long as short |
| Coinbase International MON-PERP-INTX | +0.0456% | 1h | 0.02530 | +2.094% | $110K | $55K | 50x | as long as short |
| Kraken Futures PF_MONUSDshort | +0.1022% | 1h | 0.02491 | +0.501% | $268K | $112K | 10x |
Aster MONUSDT
dYdX MON-USD
Pacifica MON
Binance MONUSDT
OKX MON-USDT-SWAP
Bulk MON-USD
Gate MON_USDT
KuCoin MONUSDTM
Bitget MONUSDT
Variational Omni MON
edgeX MONUSDC
GRVT MON_USDT_Perp
ApeX Omni MONUSDT
SoDEX MON-USD
Extended MON-USD
Aevo MON-PERP
GMX MON/USD [ETH-USDC]
Aftermath Perps MONUSD
BloFin MON-USDT
Perpl MON
Coinbase International MON-PERP-INTX