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Funding arb · Price arb /

SNX

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 02:00 UTC−0.0009%/8h= −1.0% APRnext payment −$0.01 per $10,000 · paid last 24h −0.434%
Price spread now: Hyperliquid against Kraken Futures+0.057%7-day average −0.039% · you sell dearer than you buy
Net, funding: paid 7d − costs−$172as in the Funding arb table
Net, price: spread back to 7d avg − costs−$96as in the Price arb table
costs, in and out, $10k−$1061.061% of the position
Long on Kraken FuturesShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days−0.656%−$66 on $10k
Price spread, last 3 days (all we have)−0.090%−$9 · spread now +0.057%, 7d avg −0.039%
Together, before fees−0.746%+ Points / potential airdropHyperliquid: Season 2 · farm board−$75 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.096% dearer against Kraken Futures than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.039%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKraken Futures PF_SNXUSD0.24050.0109pay 0.0014% / 1h7m 46s$144K$58K25x
ShortHyperliquid SNX0.24060.0100get 0.0013% / 1h7m 46s$443K$152K3x

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

Profit calculator

Funding earned
−$1.92
Price spread: +0.057% → −0.039%
$9.63
Slippage, 4 orders
−$87.12
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$98.4
Costs to cover
1.061%
Break-even
never at this rate
Slippage from Kraken Futures: live order book, 59 min ago; Hyperliquid: live order book, 32 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kraken Futures live order book, 59 min ago6.22 bp38.3 bp −$38227.2 bp −$2,272doesn't fitdoesn't fit
Sell Hyperliquid live order book, 32 min ago3.35 bp23.1 bp −$23doesn't fitdoesn't fitdoesn't fit

SNX on 14 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective SNX/USDC PERP−0.5000%1h0.2257−6.155%$23K$29K12xas long as short
Hyperliquid SNXshort+0.0100%1h0.2406+0.057%$443K$152K3x
Aster SNXUSDT+0.0100%8h0.2401−0.185%$4K$3K5xas long as short
Binance SNXUSDT+0.0100%8h0.2402−0.105%$2.9M$4.0M75xas long as short
Bybit SNXUSDT+0.0100%8h0.2401−0.167%$1.6M$1.3M75xas long as short
OKX SNX-USDT-SWAP+0.0100%8h0.2404−0.042%$784K$1.1M20xas long as short
Gate SNX_USDT+0.0100%8h0.2399−0.250%$240K$96K25xas long as short
MEXC SNX_USDT+0.0100%8h0.2401−0.167%$1.7M$700K100xas long as short
KuCoin SNXUSDTM+0.0100%8h0.2402−0.126%$722K$2.1M30xas long as short
Bitget SNXUSDT+0.0100%8h0.2402−0.126%$1.1M$390K50xas long as short
Show all 14 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX SNX-USDT+0.0100%8h0.2404−0.042%—$2.3M—as long as short
Variational Omni SNX+0.0100%8h0.2405−0.018%$12K$4K—as long as short
SunX SNX-USDT+0.0100%8h0.2396−0.375%$2K$1.4M20xas long as short
Kraken Futures PF_SNXUSDlong+0.0109%1h0.2405long leg$144K$58K25x