Funding you earn now, next payment 23:00 UTC−0.1701%/8h= −186.3% APRnext payment −$2.13 per $10,000 · paid last 24h +0.055%
Price spread now: Hyperliquid against Kraken Futures+0.113%7-day average −0.031% · you sell dearer than you buy
Net, funding: paid 7d − costs−$75as in the Funding arb table
Net, price: spread back to 7d avg − costs−$131as in the Price arb table
costs, in and out, $10k−$1451.453% of the position
Funding, last 7 days+0.702%+$70 on $10k
+Price spread, last 3 days (all we have)−0.020%−$2 · spread now +0.113%, 7d avg −0.031%
=Together, before fees+0.681%+ Points / potential airdropHyperliquid: Season 2 · farm board+$68 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.144% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.113% now, against its 7-day average of −0.031%): +$14 on $10k if it goes back. Holding the pair costs −$51 a day in funding at the current rate, which eats that in about 7 hours. Mind the row above: over the last 7 days funding on this pair paid +0.702%, 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 0.702% in total (about 36.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.13 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_RUNEUSD | 0.6443 | 0.2127 | pay 0.0266% / 1h | 52m 43s | $178K | $214K | 20x |
| Short | Hyperliquid RUNE | 0.6450 | 0.0426 | get 0.0053% / 1h | 52m 43s | $1.7M | $863K | 5x |
Kraken Futures PF_RUNEUSD
Hyperliquid RUNEFunding 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
- −$357.22
- Price spread: +0.113% → −0.031%
- $14.39
- Slippage, 4 orders
- −$126.27
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$488.09
- Costs to cover
- 1.453%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 30 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, 30 min ago | 35.81 bp | 52.4 bp −$52 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 8 min ago | 2.04 bp | 21.5 bp −$21 | doesn't fit | doesn't fit | doesn't fit |
RUNE 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit RUNE_USDC-PERPETUAL | −0.1609% | 1h | 0.6443 | 0.000% | — | — | 10x | as long as short |
| Injective RUNE/USDC PERP | +0.0033% | 1h | 0.6155 | −4.470% | $7 | $24 | 12x | as long as short |
| Binance RUNEUSDT | +0.0100% | 8h | 0.6430 | −0.195% | $4.8M | $10.2M | 75x | as long as short |
| Bybit RUNEUSDT | +0.0100% | 8h | 0.6431 | −0.186% | $2.8M | $1.6M | 75x | as long as short |
| Gate RUNE_USDT | +0.0100% | 8h | 0.6439 | −0.062% | $662K | $295K | 50x | as long as short |
| MEXC RUNE_USDT | +0.0100% | 8h | 0.6430 | −0.202% | $3.4M | $1.6M | 125x | as long as short |
| KuCoin RUNEUSDTM | +0.0100% | 8h | 0.6436 | −0.109% | $903K | $195K | 50x | as long as short |
| Bitget RUNEUSDT | +0.0100% | 8h | 0.6438 | −0.078% | $1.6M | $486K | 50x | as long as short |
| BingX RUNE-USDT | +0.0100% | 8h | 0.6431 | −0.186% | — | $59.1M | — | as long as short |
| Variational Omni RUNE | +0.0100% | 8h | 0.6422 | −0.327% | $126K | $9K | — | as long as short |
Deribit RUNE_USDC-PERPETUAL
Injective RUNE/USDC PERP
Binance RUNEUSDT
Bybit RUNEUSDT
Gate RUNE_USDT
MEXC RUNE_USDT
KuCoin RUNEUSDTM
Bitget RUNEUSDT
BingX RUNE-USDT
Variational Omni RUNEShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended RUNE-USD | +0.0104% | 1h | 0.6430 | −0.206% | $4K | $170K | 10x | as long as short |
| Coinbase International RUNE-PERP-INTX | +0.0112% | 1h | 0.6455 | +0.186% | $38K | $16K | 25x | as long as short |
| BloFin RUNE-USDT | +0.0118% | 8h | 0.6437 | −0.093% | $442K | $156K | 75x | as long as short |
| Hyperliquid RUNEshort | +0.0426% | 1h | 0.6450 | +0.113% | $1.7M | $863K | 5x | |
| dYdX RUNE-USD | +0.2082% | 1h | 0.6443 | −0.002% | $55K | $4K | 5x | as long as short |
| Kraken Futures PF_RUNEUSDlong | +0.2127% | 1h | 0.6443 | long leg | $178K | $214K | 20x |
Extended RUNE-USD
Coinbase International RUNE-PERP-INTX
BloFin RUNE-USDT
dYdX RUNE-USD