S

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1949%/8h= −213.4% APRnext payment −$2.44 per $10,000 · paid last 24h −0.554%

Price spread now: Kraken Futures against Hyperliquid−0.314%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$58 a day on $10k at the current rate, and Kraken Futures is 0.314% cheaper against Hyperliquid than usual: you would sell low and buy high (−$31 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid S	0.03946	0.0100	pay 0.0013% / 1h	42m 44s	$993K	$588K	5x
Short	Kraken Futures PF_SUSD	0.03934	−0.1849	pay 0.0231% / 1h	42m 44s	$32K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee Kraken FuturesbpOrdersPrice spread, now −0.314%Rate

Funding earned: −$409.22
Price spread: −0.314% → 0.000%: −$31.43
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$459.66
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 17 min ago; Kraken Futures: no order-book sample. Net counts fees only.

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 Hyperliquid live order book, 17 min ago	2.03 bp	20.8 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

S 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
01 Exchange SUSD	−0.8928%	1h	0.03840	−2.691%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSDshort	−0.1849%	1h	0.03934	−0.314%	$32K	$14K	10x
Coinbase International S-PERP-INTX	−0.1232%	1h	0.03929	−0.436%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03943	−0.076%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03940	−0.160%	$4	—	15x	as long as short
Variational Omni S	−0.0091%	4h	0.03942	−0.111%	$612K	$29K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03944	−0.050%	$608	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.897%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0083%	4h	0.03941	−0.132%	$98K	$435K	10x	as long as short
Lighter S	+0.0096%	1h	0.03947	+0.020%	$167K	$138K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid Slong	+0.0100%	1h	0.03946	long leg	$993K	$588K	5x
Aster SUSDT	+0.0100%	4h	0.03948	+0.056%	$46K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03947	+0.018%	$5.5M	$13.5M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03938	−0.208%	$5.6M	$4.4M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03939	−0.182%	$970K	$3.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03936	−0.258%	$320K	$183K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03947	+0.020%	$3.6M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03943	−0.081%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03950	+0.096%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03946	−0.005%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03950	+0.096%	$21K	$463K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03939	−0.188%	$222K	$595K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0257%	1h	0.03946	−0.005%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03945	−0.030%	$271K	$101K	75x	as long as short
Backpack S_USDC_PERP	+0.2092%	1h	0.03950	+0.096%	$115K	$426K	5x	as long as short