Funding you earn now, next payment 23:00 UTC+0.0308%/8h= +33.8% APRnext payment +$0.39 per $10,000 · paid last 24h +0.144%
Price spread now: Hyperliquid against Kraken Futures+0.122%7-day average +0.046% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$57as in the Price arb table
costs, in and out, $10k−$640.643% of the position
Funding, last 7 days+0.421%+$42 on $10k
+Price spread, last 3 days (all we have)+0.616%+$62 · spread now +0.122%, 7d avg +0.046%
=Together, before fees+1.037%+ Points / potential airdropHyperliquid: Season 2 · farm board+$104 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Hyperliquid is 0.076% dearer against Kraken Futures than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.046%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_POLUSD | 0.1123 | −0.0071 | get 0.0009% / 1h | 54m 51s | $1.2M | $1.8M | 50x |
| Short | Hyperliquid POL | 0.1124 | 0.0237 | get 0.0030% / 1h | 54m 51s | $7.6M | $4.6M | 5x |
Kraken Futures PF_POLUSD
Hyperliquid POLFunding 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
- $64.77
- Price spread: +0.122% → +0.046%
- $7.56
- Slippage, 4 orders
- −$45.28
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $8.04
- Costs to cover
- 0.643%
- Break-even
- 6.1 days
Slippage from Kraken Futures: live order book, 4 min ago; Hyperliquid: 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 Kraken Futures live order book, 4 min ago | 8.94 bp | 15.4 bp −$15 | 46.3 bp −$463 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 7 min ago | 1.34 bp | 12.0 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
POL on 25 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 POL/USDC PERP | −0.0162% | 1h | 0.1111 | −1.036% | $3K | $124K | 12x | as long as short |
| Coinbase International POL-PERP-INTX | −0.0128% | 1h | 0.1111 | −1.036% | $202K | $253K | 50x | as long as short |
| Kraken Futures PF_POLUSDlong | −0.0071% | 1h | 0.1123 | long leg | $1.2M | $1.8M | 50x | |
| Orderly PERP_POL_USDC | −0.0025% | 4h | 0.1122 | −0.083% | $11K | $204K | 20x | as long as short |
| Reya POLRUSDPERP | −0.0006% | 1h | 0.1122 | −0.067% | $3K | — | — | as long as short |
| dYdX POL-USD | 0.0000% | 1h | 0.1122 | −0.065% | $17K | $3K | 5x | as long as short |
| gTrade (Gains Network) POL/USD | L +0.0004% / S −0.0006% | 1h | 0.1122 | −0.020% | $22K | — | 150x | as long as short |
| Lighter POL | +0.0096% | 1h | 0.1122 | −0.057% | $311K | $558K | 8x | as long as short |
| Aster POLUSDT | +0.0100% | 4h | 0.1121 | −0.114% | $373K | $359K | 20x | as long as short |
| Binance POLUSDT | +0.0100% | 4h | 0.1122 | −0.056% | $17.1M | $51.5M | 75x | as long as short |
Injective POL/USDC PERP
Coinbase International POL-PERP-INTX
Orderly PERP_POL_USDC
Reya POLRUSDPERP
dYdX POL-USD
gTrade (Gains Network) POL/USD
Lighter POL
Aster POLUSDT
Binance POLUSDTShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit POLUSDT | +0.0100% | 4h | 0.1121 | −0.136% | $16.1M | $16.2M | 75x | as long as short |
| OKX POL-USDT-SWAP | +0.0100% | 4h | 0.1121 | −0.101% | $5.8M | $12.1M | 50x | as long as short |
| Gate POL_USDT | +0.0100% | 4h | 0.1121 | −0.154% | $1.9M | $1.3M | 75x | as long as short |
| MEXC POL_USDT | +0.0100% | 4h | 0.1121 | −0.118% | $23.7M | $3.8M | 125x | as long as short |
| KuCoin POLUSDTM | +0.0100% | 4h | 0.1122 | −0.020% | $2.8M | $1.1M | 50x | as long as short |
| Bitget POLUSDT | +0.0100% | 4h | 0.1122 | −0.074% | $4.2M | $5.9M | 50x | as long as short |
| BingX POL-USDT | +0.0100% | 4h | 0.1121 | −0.110% | — | $7.2M | — | as long as short |
| Variational Omni POL | +0.0100% | 4h | 0.1120 | −0.220% | $661K | $211K | — | as long as short |
| GRVT POL_USDT_Perp | +0.0100% | 4h | 0.1120 | −0.272% | $1.1M | $3.4M | 10x | as long as short |
| ApeX Omni POLUSDT | +0.0100% | 1h | 0.1119 | −0.323% | $198K | $662K | 50x | as long as short |
| Extended POL-USD | +0.0104% | 1h | 0.1122 | −0.082% | $93K | $427K | 10x | as long as short |
| Aevo POL-PERP | +0.0104% | 1h | 0.1120 | −0.190% | $41K | — | 3x | as long as short |
| GMX POL/USD [ETH-USDC] | L +0.0211% / S −0.0606% | 1h | 0.1122 | −0.014% | $3K | — | 100x | as long as short |
| Hyperliquid POLshort | +0.0237% | 1h | 0.1124 | +0.122% | $7.6M | $4.6M | 5x | |
| BloFin POL-USDT | +0.0340% | 4h | 0.1120 | −0.261% | $904K | $169K | 75x | as long as short |
Bybit POLUSDT
OKX POL-USDT-SWAP
Gate POL_USDT
MEXC POL_USDT
KuCoin POLUSDTM
Bitget POLUSDT
BingX POL-USDT
Variational Omni POL
GRVT POL_USDT_Perp
ApeX Omni POLUSDT
Extended POL-USD
Aevo POL-PERP
GMX POL/USD [ETH-USDC]
BloFin POL-USDT