Funding you earn now, next payment 23:00 UTC+0.0308%/8h= +33.7% APRnext payment +$0.39 per $10,000 · paid last 24h −0.046%
Price spread now: Hyperliquid against Kraken Futures+0.047%50s7-day average −0.090% · you sell dearer than you buy
Net, funding: paid 7d − costs−$140as 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−$950.948% of the position
Funding, last 7 days−0.454%−$45 on $10k
+Price spread, last 3 days (all we have)−0.031%−$3 · spread now +0.047%, 7d avg −0.090%
=Together, before fees−0.485%+ Points / potential airdropHyperliquid: Season 2 · farm board−$49 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 0.137% dearer against Kraken Futures than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.090%. Mind the row above: over the last 7 days funding on this pair cost −0.454%, so the current rate has only just turned in your favour. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_PYTHUSD | 0.06285 | −0.0208 | get 0.0026% / 1h | 15m 30s | $382K | $248K | 25x |
| Short | Hyperliquid PYTH | 0.06288 | 0.0100 | get 0.0013% / 1h | 15m 30s | $1.7M | $1.5M | 5x |
Kraken Futures PF_PYTHUSD
Hyperliquid PYTHFunding 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
- $64.73
- Price spread: +0.047% → −0.090%
- $13.68
- Slippage, 4 orders
- −$75.79
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$16.38
- Costs to cover
- 0.948%
- Break-even
- 8.8 days
Slippage from Kraken Futures: live order book, 2 min ago; Hyperliquid: live order book, 5 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 | 9.55 bp | 25.3 bp −$25 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 1.43 bp | 16.8 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
PYTH on 23 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 PYTH/USDC PERP | −0.0428% | 1h | 0.06260 | −0.393% | $553 | $220K | 5.5x | as long as short |
| Kraken Futures PF_PYTHUSDlong | −0.0208% | 1h | 0.06285 | long leg | $382K | $248K | 25x | |
| Binance PYTHUSDT | −0.0070% | 4h | 0.06282 | −0.043% | $9.0M | $17.0M | 75x | as long as short |
| MEXC PYTH_USDT | −0.0070% | 4h | 0.06282 | −0.043% | $9.1M | $2.3M | 125x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | −0.0068% | 1h | 0.06290 | +0.084% | $10K | $10K | 10x | as long as short |
| Bybit PYTHUSDT | −0.0068% | 4h | 0.06285 | +0.004% | $7.4M | $4.8M | 50x | as long as short |
| Gate PYTH_USDT | −0.0038% | 4h | 0.06276 | −0.139% | $1.1M | $480K | 75x | as long as short |
| BloFin PYTH-USDT | −0.0025% | 4h | 0.06276 | −0.139% | $419K | $114K | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06289 | +0.070% | $187K | $19 | 5x | as long as short |
| Aevo PYTH-PERP | +0.0064% | 1h | 0.06284 | −0.020% | $22K | — | 3x | as long as short |
Injective PYTH/USDC PERP
Binance PYTHUSDT
MEXC PYTH_USDT
Deribit PYTH_USDC-PERPETUAL
Bybit PYTHUSDT
Gate PYTH_USDT
BloFin PYTH-USDT
dYdX PYTH-USD
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International PYTH-PERP-INTX | +0.0080% | 1h | 0.06431 | +2.327% | $40K | $6K | 25x | as long as short |
| Aster PYTHUSDT | +0.0083% | 4h | 0.06281 | −0.059% | $25K | $40K | 10x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06290 | +0.084% | $196K | $210K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06277 | −0.125% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTHshort | +0.0100% | 1h | 0.06288 | +0.047% | $1.7M | $1.5M | 5x | |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06286 | +0.020% | $2.1M | $3.3M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06286 | +0.020% | $1.5M | $314K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06284 | −0.012% | $2.6M | $2.0M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06283 | −0.028% | — | $2.8M | — | as long as short |
| Backpack PYTH_USDC_PERP | +0.0100% | 1h | 0.06288 | +0.058% | $38K | $87K | 10x | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06291 | +0.103% | $44K | $22K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06284 | −0.004% | $3K | $1K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06286 | +0.019% | — | — | 20x | as long as short |
Coinbase International PYTH-PERP-INTX
Aster PYTHUSDT
Lighter PYTH
Paradex PYTH-USD-PERP
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Backpack PYTH_USDC_PERP
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP