Funding you earn now, next payment 05:00 UTC+0.0449%/8h= +49.2% APRnext payment +$0.56 per $10,000 · paid last 24h +0.129%
Price spread now: Hyperliquid against Kraken Futures+0.121%7-day average +0.036% · you sell dearer than you buy
Net, funding: paid 7d − costs−$27as in the Funding arb table
Net, price: spread back to 7d avg − costs−$36as in the Price arb table
costs, in and out, $10k−$440.442% of the position
Funding, last 7 days+0.176%+$18 on $10k
+Price spread, last 4 days (all we have)−0.127%−$13 · spread now +0.121%, 7d avg +0.036%
=Together, before fees+0.049%+ Points / potential airdropHyperliquid: Season 2 · farm board+$5 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Hyperliquid is 0.085% dearer against Kraken Futures than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.036%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.176% in total (about 9.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.56 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_TAOUSD | 314.66 | −0.0345 | get 0.0043% / 1h | 58m 41s | $5.5M | $20.6M | 50x |
| Short | Hyperliquid TAO | 315.04 | 0.0104 | get 0.0013% / 1h | 58m 41s | $92.6M | $106.7M | 5x |
Kraken Futures PF_TAOUSD
Hyperliquid TAOFunding 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
- $94.27
- Price spread: +0.121% → +0.036%
- $8.52
- Slippage, 4 orders
- −$25.24
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $58.56
- Costs to cover
- 0.442%
- Break-even
- 2.7 days
Slippage from Kraken Futures: live order book, 5 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, 5 min ago | 6.34 bp | 15.2 bp −$15 | 22.6 bp −$226 | 80.9 bp −$8,089 | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 0.16 bp | 8.7 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
TAO on 43 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_TAOUSDlong | −0.0345% | 1h | 314.66 | long leg | $5.5M | $20.6M | 50x | |
| dYdX TAO-USD | 0.0000% | 1h | 314.60 | −0.019% | $125K | $85K | 5x | as long as short |
| gTrade (Gains Network) TAO/USD | L +0.0004% / S −0.0004% | 1h | 314.61 | −0.017% | $20K | — | 150x | as long as short |
| Popdex TAOUSDT | +0.0096% | 1h | 315.03 | +0.118% | $43K | $656K | 20x | as long as short |
| Katana Perps TAO-USD | +0.0098% | 8h | 314.91 | +0.080% | $2K | $801K | 5x | as long as short |
| Nado TAO-PERP | +0.0100% | 1h | 315.10 | +0.139% | $801K | $2.2M | 10x | as long as short |
| Pacifica TAO | +0.0100% | 1h | 314.99 | +0.104% | $359K | $412K | 10x | as long as short |
| Binance TAOUSDT | +0.0100% | 4h | 314.97 | +0.099% | $91.0M | $495.1M | 75x | as long as short |
| Bybit TAOUSDT | +0.0100% | 4h | 315.07 | +0.130% | $67.9M | $149.0M | 50x | as long as short |
| OKX TAO-USDT-SWAP | +0.0100% | 8h | 315.10 | +0.140% | $26.0M | $120.7M | 50x | as long as short |
dYdX TAO-USD
gTrade (Gains Network) TAO/USD
Popdex TAOUSDT
Katana Perps TAO-USD
Nado TAO-PERP
Pacifica TAO
Binance TAOUSDT
Bybit TAOUSDT
OKX TAO-USDT-SWAPShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bulk TAO-USD | +0.0100% | 1h | 314.80 | +0.045% | $167K | $2K | 10x | as long as short |
| Gate TAO_USDT | +0.0100% | 4h | 314.60 | −0.019% | $13.0M | $49.2M | 50x | as long as short |
| MEXC TAO_USDT | +0.0100% | 4h | 314.97 | +0.099% | $100.9M | $143.4M | 300x | as long as short |
| KuCoin TAOUSDTM | +0.0100% | 4h | 314.90 | +0.076% | $17.8M | $31.7M | 75x | as long as short |
| Bitget TAOUSDT | +0.0100% | 4h | 314.75 | +0.029% | $35.2M | $56.5M | 50x | as long as short |
| BingX TAO-USDT | +0.0100% | 4h | 314.97 | +0.099% | — | $32.9M | — | as long as short |
| edgeX TAOUSDC | +0.0100% | 4h | 315.12 | +0.145% | $42K | $313K | 10x | as long as short |
| GRVT TAO_USDT_Perp | +0.0100% | 4h | 315.30 | +0.204% | $535K | $969K | 10x | as long as short |
| ApeX Omni TAOUSDT | +0.0100% | 1h | 315.19 | +0.169% | $46K | $255K | 50x | as long as short |
| Polymarket Perps TAO-USD | +0.0100% | 1h | 314.80 | +0.045% | $77K | $863K | 5x | as long as short |
| Bullet TAO-USD | +0.0100% | 1h | 314.86 | +0.064% | $12K | $18K | 20x | as long as short |
| SunX TAO-USDT | +0.0100% | 4h | 314.79 | +0.041% | $1K | $1.9M | 20x | as long as short |
| HTX TAO-USDT | +0.0100% | 4h | 314.46 | −0.063% | $110K | $535K | 20x | as long as short |
| Phemex TAOUSDT | +0.0100% | 4h | 314.81 | +0.048% | $3.2M | $8.1M | 50x | as long as short |
| Hyperliquid TAOshort | +0.0104% | 1h | 315.04 | +0.121% | $92.6M | $106.7M | 5x | |
| Aevo TAO-PERP | +0.0104% | 1h | 314.86 | +0.065% | $173K | $998 | 3x | as long as short |
| Orderly PERP_TAO_USDC | +0.0126% | 4h | 314.68 | +0.007% | $52K | $271K | 10x | as long as short |
| GMX TAO/USD [WBTC.b-USDC] | L +0.0143% / S +0.0124% | 1h | 314.62 | −0.011% | $427K | — | 100x | as long as short |
| Paradex TAO-USD-PERP | +0.0147% | 8h | 315.13 | +0.149% | $14K | $1K | 10x | as long as short |
| Aster TAOUSDT | +0.0152% | 4h | 314.94 | +0.088% | $1.2M | $10.4M | 50x | as long as short |
| Extended TAO-USD | +0.0208% | 1h | 314.98 | +0.101% | $923K | $2.4M | 25x | as long as short |
| Arcus TAO-USD | +0.0231% | 1h | 315.24 | +0.184% | $101K | $440K | 5x | as long as short |
| Backpack TAO_USDC_PERP | +0.0274% | 1h | 314.75 | +0.029% | $313K | $914K | 10x | as long as short |
| Lighter TAO | +0.0312% | 1h | 315.22 | +0.178% | $1.5M | $6.4M | 5x | as long as short |
| 01 Exchange TAOUSD | +0.0328% | 1h | 315.02 | +0.115% | $3K | $4K | 5x | as long as short |
| BloFin TAO-USDT | +0.0340% | 4h | 314.69 | +0.010% | $4.5M | $10.9M | 100x | as long as short |
| Variational Omni TAO | +0.0396% | 4h | 315.16 | +0.159% | $5.7M | $9.9M | — | as long as short |
| Deribit TAO_USDC-PERPETUAL | +0.0427% | 1h | 314.82 | +0.050% | $22K | $1.7M | 25x | as long as short |
| Phoenix TAO | +0.0581% | 1h | 315.50 | +0.267% | $314K | $695K | 5x | as long as short |
| Reya TAORUSDPERP | +0.0697% | 1h | 314.95 | +0.091% | $362 | — | 20x | as long as short |
| RISEx TAO/USDC | +0.0816% | 1h | 314.97 | +0.099% | $437K | $652K | 5x | as long as short |
| Coinbase International TAO-PERP-INTX | +0.0952% | 1h | 315.53 | +0.277% | $1.5M | $6.7M | 50x | as long as short |
| Injective TAO/USDC PERP | +0.4092% | 1h | 317.67 | +0.957% | $23K | $2K | 12x | as long as short |
Bulk TAO-USD
Gate TAO_USDT
MEXC TAO_USDT
KuCoin TAOUSDTM
Bitget TAOUSDT
BingX TAO-USDT
edgeX TAOUSDC
GRVT TAO_USDT_Perp
ApeX Omni TAOUSDT
Polymarket Perps TAO-USD
Bullet TAO-USD
SunX TAO-USDT
HTX TAO-USDT
Phemex TAOUSDT
Aevo TAO-PERP
Orderly PERP_TAO_USDC
GMX TAO/USD [WBTC.b-USDC]
Paradex TAO-USD-PERP
Aster TAOUSDT
Extended TAO-USD
Arcus TAO-USD
Backpack TAO_USDC_PERP
Lighter TAO
01 Exchange TAOUSD
BloFin TAO-USDT
Variational Omni TAO
Deribit TAO_USDC-PERPETUAL
Phoenix TAO
Reya TAORUSDPERP
RISEx TAO/USDC
Coinbase International TAO-PERP-INTX
Injective TAO/USDC PERP