Funding you earn now, next payment 05:00 UTC−0.0164%/8h= −18.0% APRnext payment −$0.21 per $10,000 · paid last 24h −0.089%
Price spread now: Kraken Futures against Hyperliquid−0.169%7-day average −0.119% · you buy dearer than you sell
Net, funding: paid 7d − costs−$72as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$540.545% of the position
Funding, last 7 days−0.178%−$18 on $10k
+Price spread, last 4 days (all we have)+0.010%+$1 · spread now −0.169%, 7d avg −0.119%
=Together, before fees−0.168%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Kraken Futures is 0.050% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.119%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid kSHIB | 0.000006098 | 0.0100 | pay 0.0013% / 1h | 12m 12s | $3.6M | $5.2M | 10x |
| Short | Kraken Futures PF_SHIBUSD | 0.000006088 | −0.0064 | pay 0.0008% / 1h | 12m 12s | $1.2M | $1.0M | 50x |
Hyperliquid kSHIB
Kraken Futures PF_SHIBUSDFunding 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
- −$34.52
- Price spread: −0.169% → −0.119%
- −$5.05
- Slippage, 4 orders
- −$35.46
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$94.02
- Costs to cover
- 0.545%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 10 min ago; Kraken Futures: live order book, 1 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, 10 min ago | 1.63 bp | 7.6 bp −$8 | 16.3 bp −$163 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 1 min ago | 4.91 bp | 20.3 bp −$20 | 30.1 bp −$301 | doesn't fit | doesn't fit |
SHIB on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International 1000SHIB-PERP-INTX | −0.0168% | 1h | 0.000006131 | +0.541% | $123K | $1.5M | 50x | as long as short |
| Kraken Futures PF_SHIBUSDshort | −0.0064% | 1h | 0.000006088 | −0.169% | $1.2M | $1.0M | 50x | |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006100 | +0.033% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006092 | −0.095% | $191K | $2.9M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006092 | −0.098% | $50K | $61K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006089 | −0.144% | $575 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | −0.951% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDC | +0.0070% | 8h | 0.000006089 | −0.148% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006094 | −0.066% | $160K | $627K | 10x | as long as short |
| Hyperliquid kSHIBlong | +0.0100% | 1h | 0.000006098 | long leg | $3.6M | $5.2M | 10x |
Coinbase International 1000SHIB-PERP-INTX
dYdX SHIB-USD
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDC
Lighter 1000SHIBShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006091 | −0.113% | $42K | $331K | 50x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006091 | −0.115% | $31.1M | $118.2M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006092 | −0.098% | $9.8M | $41.2M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006085 | −0.213% | $7.2M | $6.9M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006090 | −0.131% | $29.9M | $19.0M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006085 | −0.213% | $4.7M | $3.0M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006091 | −0.115% | $11.7M | $16.3M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006108 | +0.164% | $23K | $7K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006090 | −0.131% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006102 | +0.066% | $2K | $26K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006093 | −0.082% | $510 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006092 | −0.098% | $417K | $579K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006090 | −0.131% | $2.1M | $7.2M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0101% | 8h | 0.000006097 | −0.011% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006087 | −0.184% | $54K | $4K | 25x | as long as short |
| Pacifica kSHIB | +0.0188% | 1h | 0.000006106 | +0.131% | $12K | $5K | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −1.607% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006114 | +0.262% | $947K | $915K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006084 | −0.229% | $1 | — | 20x | as long as short |
Aster 1000SHIBUSDT
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Backpack kSHIB_USDC_PERP
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Pacifica kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP