Funding you earn now, next payment 06:00 UTC+0.0532%/8h= +58.3% APRpaid last 24h +0.119%
Price spread now: Hyperliquid against KuCoin+0.035%7-day average +0.088% · you sell dearer than you buy
Net, funding: paid 7d − costs−$437as in the Funding arb table
Net, price: spread back to 7d avg − costs−$449as in the Price arb table
costs, in and out, $10k−$4444.438% of the position
Funding, last 7 days+0.066%+$7 on $10k
+Price spread, last 7 days+0.058%+$6 · spread now +0.035%, 7d avg +0.088%
=Together, before fees+0.124%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.054% cheaper against KuCoin than usual: you would sell low and buy high (spread +0.035% now, against its 7-day average of +0.088%). If the spread goes back, that is −$5 on $10k: about 8 hours of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.066% in total) that is about 5.7 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.066% in total (about 3.5% a year). A funding rate is set anew for every payment. 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 | KuCoin PNUTUSDTM | 0.05731 | 0.0280 | pay 0.0140% / 4h | 2h 00m | $1.1M | $113K | 30x |
| Short | Hyperliquid PNUT | 0.05733 | 0.0812 | get 0.0102% / 1h | 0m 10s | $1.7M | $511K | 3x |
KuCoin PNUTUSDTM
Hyperliquid PNUTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against KuCoin. 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
- $111.78
- Price spread: +0.035% → +0.088%
- −$5.36
- Slippage, 4 orders
- −$422.75
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$337.33
- Costs to cover
- 4.438%
- Break-even
- 28.1 days
Slippage from KuCoin: live order book, 5 min ago; Hyperliquid: live order book, 10 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 KuCoin live order book, 5 min ago | 20.95 bp | 134.6 bp −$135 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 10 min ago | 1.74 bp | 19.1 bp −$19 | doesn't fit | doesn't fit | doesn't fit |
PNUT on 16 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 | |
|---|---|---|---|---|---|---|---|---|
| OKX PNUT-USDT-SWAP | +0.0062% | 4h | 0.05720 | −0.192% | $1.7M | $6.5M | 20x | as long as short |
| BloFin PNUT-USDT | +0.0077% | 4h | 0.05725 | −0.105% | $289K | $27K | 50x | as long as short |
| Aster PNUTUSDT | +0.0100% | 4h | 0.05726 | −0.092% | $3K | $19K | 5x | as long as short |
| Binance PNUTUSDT | +0.0100% | 4h | 0.05724 | −0.114% | $5.5M | $11.0M | 50x | as long as short |
| Bybit PNUTUSDT | +0.0100% | 4h | 0.05721 | −0.174% | $2.6M | $1.5M | 50x | as long as short |
| Gate PNUT_USDT | +0.0100% | 4h | 0.05717 | −0.244% | $897K | $1.3M | 50x | as long as short |
| MEXC PNUT_USDT | +0.0100% | 4h | 0.05728 | −0.052% | $1.1M | $450K | 100x | as long as short |
| Bitget PNUTUSDT | +0.0100% | 4h | 0.05719 | −0.209% | $783K | $1.1M | 50x | as long as short |
| BingX PNUT-USDT | +0.0100% | 4h | 0.05716 | −0.262% | — | $6.6M | — | as long as short |
| Variational Omni PNUT | +0.0100% | 4h | 0.05710 | −0.359% | $33 | $2K | — | as long as short |
OKX PNUT-USDT-SWAP
BloFin PNUT-USDT
Aster PNUTUSDT
Binance PNUTUSDT
Bybit PNUTUSDT
Gate PNUT_USDT
MEXC PNUT_USDT
Bitget PNUTUSDT
BingX PNUT-USDT
Variational Omni PNUTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended PNUT-USD | +0.0104% | 1h | 0.05724 | −0.115% | $6K | $81K | 5x | as long as short |
| Deribit PNUT_USDC-PERPETUAL | +0.0274% | 1h | 0.05727 | −0.070% | $4 | — | 10x | as long as short |
| KuCoin PNUTUSDTMlong | +0.0280% | 4h | 0.05731 | long leg | $1.1M | $113K | 30x | |
| Hyperliquid PNUTshort | +0.0812% | 1h | 0.05733 | +0.035% | $1.7M | $511K | 3x | |
| Kraken Futures PF_PNUTUSD | +0.0926% | 1h | 0.05726 | −0.093% | $25K | $13K | 10x | as long as short |
| Coinbase International PNUT-PERP-INTX | +0.1472% | 1h | 0.05762 | +0.541% | $366K | $42K | 50x | as long as short |
Extended PNUT-USD
Deribit PNUT_USDC-PERPETUAL
Kraken Futures PF_PNUTUSD
Coinbase International PNUT-PERP-INTX