Funding you earn now, next payment 04:00 UTC−0.0361%/8h= −39.5% APRnext payment −$0.45 per $10,000 · paid last 24h +0.089%
Price spread now: Hyperliquid against Kraken Futures+0.149%7-day average +0.091% · you sell dearer than you buy
Net, funding: paid 7d − costs−$25as in the Funding arb table
Net, price: spread back to 7d avg − costs−$42as in the Price arb table
costs, in and out, $10k−$480.480% of the position
Funding, last 7 days+0.226%+$23 on $10k
+Price spread, last 4 days (all we have)−0.296%−$30 · spread now +0.149%, 7d avg +0.091%
=Together, before fees−0.070%+ Points / potential airdropHyperliquid: Season 2 · farm board−$7 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.058% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.149% now, against its 7-day average of +0.091%): +$6 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 13 hours. Mind the row above: over the last 7 days funding on this pair paid +0.226%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.226% in total (about 11.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.45 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_NEARUSD | 4.3848 | 0.0592 | pay 0.0074% / 1h | 25m 44s | $8.1M | $40.0M | 50x |
| Short | Hyperliquid NEAR | 4.3913 | 0.0232 | get 0.0029% / 1h | 25m 44s | $362.0M | $326.1M | 10x |
Kraken Futures PF_NEARUSD
Hyperliquid NEARFunding 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
- −$75.75
- Price spread: +0.149% → +0.091%
- $5.78
- Slippage, 4 orders
- −$28.98
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$117.95
- Costs to cover
- 0.480%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 3 min ago; Hyperliquid: live order book, 8 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, 3 min ago | 10.71 bp | 19.7 bp −$20 | 27.0 bp −$270 | 53.8 bp −$5,375 | 6700.8 bp −$3.35M |
| Sell Hyperliquid live order book, 8 min ago | 0.11 bp | 6.6 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
NEAR on 45 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya NEARRUSDPERP | −0.0171% | 1h | 4.3856 | +0.019% | $2K | — | 20x | as long as short |
| Coinbase International NEAR-PERP-INTX | −0.0008% | 1h | 4.3839 | −0.020% | $2.3M | $15.3M | 50x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.3915 | +0.152% | $108K | $70K | 10x | as long as short |
| Kalshi KXNEARPERP | 0.0000% | 8h | 4.3854 | +0.014% | $579K | $22.1M | 2.2x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.3859 | +0.027% | $164K | — | 150x | as long as short |
| Injective NEAR/USDC PERP | +0.0033% | 1h | 4.1410 | −5.560% | $578 | $302K | 12x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.3860 | +0.028% | $112K | $516K | 50x | as long as short |
| Pacifica NEAR | +0.0100% | 1h | 4.3933 | +0.195% | $420K | $1.2M | 10x | as long as short |
| Binance NEARUSDT | +0.0100% | 8h | 4.3959 | +0.254% | $269.9M | $1.10B | 75x | as long as short |
| Bybit NEARUSDT | +0.0100% | 8h | 4.3960 | +0.256% | $220.9M | $424.1M | 75x | as long as short |
Reya NEARRUSDPERP
Coinbase International NEAR-PERP-INTX
dYdX NEAR-USD
Kalshi KXNEARPERP
gTrade (Gains Network) NEAR/USD
Injective NEAR/USDC PERP
Popdex NEARUSDT
Pacifica NEAR
Binance NEARUSDT
Bybit NEARUSDTShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.3960 | +0.256% | $62.5M | $298.5M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.3987 | +0.318% | $251K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.3953 | +0.240% | $31.9M | $63.8M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.3970 | +0.279% | $73.7M | $149.5M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.3950 | +0.233% | $54.6M | $46.1M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.3967 | +0.272% | $72.3M | $130.4M | 75x | as long as short |
| BingX NEAR-USDC | +0.0100% | 8h | 4.3980 | +0.302% | — | $6.7M | — | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.3777 | −0.162% | $8.5M | $18.2M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.4018 | +0.388% | $264K | $980K | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.3990 | +0.324% | $1.5M | $1.4M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.3820 | −0.063% | $168K | $802K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.3883 | +0.080% | $234K | $3.9M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.3826 | −0.050% | $56K | $227K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.3920 | +0.165% | $2K | $1.4M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.3820 | −0.063% | $8K | $52K | 10x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.3960 | +0.256% | $455K | $4.0M | 75x | as long as short |
| Phemex NEARUSDT | +0.0100% | 8h | 4.3910 | +0.142% | $3.8M | $8.4M | 50x | as long as short |
| Paradex NEAR-USD-PERP | +0.0101% | 8h | 4.3875 | +0.062% | $32K | $608 | 10x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.3802 | −0.104% | $204K | $40K | 3x | as long as short |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.3880 | +0.074% | $13.8M | $32.7M | 75x | as long as short |
| Hyperliquid NEARshort | +0.0232% | 1h | 4.3913 | +0.149% | $362.0M | $326.1M | 10x | |
| Backpack NEAR_USDC_PERP | +0.0257% | 1h | 4.3860 | +0.028% | $1.3M | $6.5M | 20x | as long as short |
| Extended NEAR-USD | +0.0280% | 1h | 4.3947 | +0.225% | $3.9M | $19.7M | 25x | as long as short |
| Aster NEARUSDT | +0.0291% | 8h | 4.3879 | +0.072% | $2.9M | $5.6M | 50x | as long as short |
| 01 Exchange NEARUSD | +0.0296% | 1h | 4.4061 | +0.486% | $13K | $7K | 10x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0319% / S −0.0191% | 1h | 4.3844 | −0.008% | $231K | — | 100x | as long as short |
| Nado NEAR-PERP | +0.0548% | 1h | 4.3834 | −0.030% | $1.9M | $3.1M | 10x | as long as short |
| Lighter RH NEAR | +0.0560% | 1h | 4.3991 | +0.327% | $1.5M | $7.2M | 10x | as long as short |
| Arcus NEAR-USD | +0.0581% | 1h | 4.4050 | +0.461% | $218K | $1.8M | 10x | as long as short |
| Kraken Futures PF_NEARUSDlong | +0.0592% | 1h | 4.3848 | long leg | $8.1M | $40.0M | 50x | |
| Phoenix NEAR | +0.0794% | 1h | 4.3965 | +0.267% | $1.8M | $2.8M | 10x | as long as short |
| Lighter NEAR | +0.0896% | 1h | 4.3969 | +0.276% | $17.7M | $26.4M | 15x | as long as short |
| RISEx NEAR/USDC | +0.0926% | 1h | 4.4054 | +0.471% | $584K | $1.4M | 10x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.1439% | 1h | 4.3878 | +0.069% | $2.0M | $7.2M | 25x | as long as short |
| Aftermath Perps NEARUSD | +0.1538% | 1h | 4.3988 | +0.320% | $5K | $12K | 10x | as long as short |
OKX NEAR-USDT-SWAP
Bulk NEAR-USD
Gate NEAR_USDT
MEXC NEAR_USDT
KuCoin NEARUSDTM
Bitget NEARUSDT
BingX NEAR-USDC
Variational Omni NEAR
edgeX NEARUSDC
GRVT NEAR_USDT_Perp
ApeX Omni NEARUSDT
Polymarket Perps NEAR-USD
Orderly PERP_NEAR_USDC
SunX NEAR-USDT
SoDEX NEAR-USD
HTX NEAR-USDT
Phemex NEARUSDT
Paradex NEAR-USD-PERP
Aevo NEAR-PERP
BloFin NEAR-USDT
Backpack NEAR_USDC_PERP
Extended NEAR-USD
Aster NEARUSDT
01 Exchange NEARUSD
GMX NEAR/USD [ETH-USDC]
Nado NEAR-PERP
Lighter RH NEAR
Arcus NEAR-USD
Phoenix NEAR
Lighter NEAR
RISEx NEAR/USDC
Deribit NEAR_USDC-PERPETUAL
Aftermath Perps NEARUSD