Funding you earn now, next payment 00:00 UTC−0.0040%/8h= −4.4% APRnext payment −$0.05 per $10,000 · paid last 24h −0.007%
Price spread now: Kraken Futures against Hyperliquid+0.073%7-day average +0.134% · you sell dearer than you buy
Net, funding: paid 7d − costs−$168as in the Funding arb table
Net, price: spread back to 7d avg − costs−$138as in the Price arb table
costs, in and out, $10k−$1321.325% of the position
Funding, last 7 days−0.360%−$36 on $10k
+Price spread, last 3 days (all we have)−0.006%−$1 · spread now +0.073%, 7d avg +0.134%
=Together, before fees−0.366%+ Points / potential airdropHyperliquid: Season 2 · farm board−$37 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Kraken Futures is 0.060% cheaper against Hyperliquid than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.134%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid SAND | 0.04171 | −0.0100 | get 0.0013% / 1h | 31m 03s | $575K | $450K | 5x |
| Short | Kraken Futures PF_SANDUSD | 0.04174 | −0.0140 | pay 0.0018% / 1h | 31m 03s | $153K | $106K | 25x |
Hyperliquid SAND
Kraken Futures PF_SANDUSDFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$8.35
- Price spread: +0.073% → +0.134%
- −$6.03
- Slippage, 4 orders
- −$113.46
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$146.85
- Costs to cover
- 1.325%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 39 min ago; Kraken Futures: live order book, 46 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 Hyperliquid live order book, 39 min ago | 1.56 bp | 23.8 bp −$24 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 46 min ago | 8.41 bp | 23.6 bp −$24 | 55.8 bp −$558 | doesn't fit | doesn't fit |
SAND on 15 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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni SAND | −0.0235% | 8h | 0.04170 | −0.019% | $114K | $4K | — | as long as short |
| Kraken Futures PF_SANDUSDshort | −0.0140% | 1h | 0.04174 | +0.073% | $153K | $106K | 25x | |
| Hyperliquid SANDlong | −0.0100% | 1h | 0.04171 | long leg | $575K | $450K | 5x | |
| Aster SANDUSDT | −0.0088% | 8h | 0.04179 | +0.189% | $14K | $18K | 10x | as long as short |
| Bitget SANDUSDT | −0.0026% | 8h | 0.04172 | +0.029% | $1.7M | $540K | 10x | as long as short |
| KuCoin SANDUSDTM | −0.0014% | 8h | 0.04174 | +0.077% | $2.6M | $380K | 50x | as long as short |
| BloFin SAND-USDT | +0.0004% | 8h | 0.04172 | +0.029% | $324K | $292K | 75x | as long as short |
| Extended SAND-USD | +0.0016% | 1h | 0.04171 | +0.010% | $3K | $194K | 10x | as long as short |
| MEXC SAND_USDT | +0.0018% | 8h | 0.04172 | +0.029% | $11.7M | $1.7M | 200x | as long as short |
| Binance SANDUSDT | +0.0019% | 8h | 0.04172 | +0.041% | $6.6M | $12.4M | 75x | as long as short |
Variational Omni SAND
Aster SANDUSDT
Bitget SANDUSDT
KuCoin SANDUSDTM
BloFin SAND-USDT
Extended SAND-USD
MEXC SAND_USDT
Binance SANDUSDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective SAND/USDC PERP | +0.0033% | 1h | 0.04129 | −1.002% | $757 | $795 | 5.5x | as long as short |
| Bybit SANDUSDT | +0.0059% | 8h | 0.04171 | +0.005% | $3.4M | $3.3M | 75x | as long as short |
| OKX SAND-USDT-SWAP | +0.0100% | 8h | 0.04177 | +0.149% | $1.8M | $3.3M | 50x | as long as short |
| Gate SAND_USDT | +0.0100% | 8h | 0.04177 | +0.149% | $473K | $558K | 75x | as long as short |
| BingX SAND-USDT | +0.0100% | 8h | 0.04173 | +0.053% | — | $2.4M | — | as long as short |
Injective SAND/USDC PERP
Bybit SANDUSDT
OKX SAND-USDT-SWAP
Gate SAND_USDT
BingX SAND-USDT