Funding you earn now, next payment 22:00 UTC+0.0513%/8h= +56.1% APRnext payment +$0.64 per $10,000 · paid last 24h −0.047%
Price spread now: Hyperliquid against Kraken Futures+0.043%7-day average +0.049% · you sell dearer than you buy
Net, funding: paid 7d − costs−$159as in the Funding arb table
Net, price: spread back to 7d avg − costs−$106as in the Price arb table
costs, in and out, $10k−$1061.059% of the position
Funding, last 7 days−0.534%−$53 on $10k
+Price spread, last 3 days (all we have)+0.889%+$89 · spread now +0.043%, 7d avg +0.049%
=Together, before fees+0.355%+ Points / potential airdropHyperliquid: Season 2 · farm board+$35 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.049%, so right now this pair is about funding alone: +$15 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.534%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_SPXUSD | 0.5034 | −0.0413 | get 0.0052% / 1h | 57m 35s | $231K | $563K | 20x |
| Short | Hyperliquid SPX | 0.5036 | 0.0100 | get 0.0013% / 1h | 57m 35s | $9.9M | $7.1M | 5x |
Kraken Futures PF_SPXUSD
Hyperliquid SPXFunding 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
- $107.64
- Price spread: +0.043% → +0.049%
- −$0.54
- Slippage, 4 orders
- −$86.94
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $1.16
- Costs to cover
- 1.059%
- Break-even
- 6.9 days
Slippage from Kraken Futures: live order book, 30 min ago; Hyperliquid: live order book, 5 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 | 7.83 bp | 36.0 bp −$36 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 1.48 bp | 16.1 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
SPX on 19 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SPXUSDlong | −0.0413% | 1h | 0.5034 | long leg | $231K | $563K | 20x | |
| Variational Omni SPX | +0.0009% | 4h | 0.5059 | +0.502% | $850K | $1.3M | — | as long as short |
| Injective SPX/USDC PERP | +0.0033% | 1h | 0.4979 | −1.089% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5041 | +0.137% | $116K | $318K | 5x | as long as short |
| Hyperliquid SPXshort | +0.0100% | 1h | 0.5036 | +0.043% | $9.9M | $7.1M | 5x | |
| Aster SPXUSDT | +0.0100% | 4h | 0.5048 | +0.279% | $123K | $96K | 10x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5033 | −0.016% | $5.0M | $19.6M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5025 | −0.175% | $11.6M | $15.5M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5031 | −0.056% | $986K | $2.6M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5039 | +0.103% | $1.0M | $475K | 50x | as long as short |
Variational Omni SPX
Injective SPX/USDC PERP
Lighter SPX
Aster SPXUSDT
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPX_USDT | +0.0100% | 4h | 0.5036 | +0.043% | $11.5M | $4.5M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5039 | +0.103% | $3.8M | $5.2M | 50x | as long as short |
| Bitget SPXUSDT | +0.0100% | 4h | 0.5031 | −0.056% | $2.6M | $1.4M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5029 | −0.096% | — | $6.9M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5051 | +0.341% | $45K | $248K | 25x | as long as short |
| Orderly PERP_SPX_USDC | +0.0100% | 4h | 0.5045 | +0.222% | $20K | $711 | 10x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5034 | +0.004% | $8K | $1.6M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5030 | −0.067% | $34K | $227K | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5054 | +0.401% | $257K | $970K | 75x | as long as short |
MEXC SPX_USDT
KuCoin SPXUSDTM
Bitget SPXUSDT
BingX SPX-USDT
ApeX Omni SPXUSDT
Orderly PERP_SPX_USDC
SunX SPX-USDT
Extended SPX-USD
BloFin SPX-USDT