UMA

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.2546%/8h= −278.8% APRnext payment −$3.18 per $10,000 · paid last 24h −0.431%

Price spread now: Hyperliquid against Kraken Futures−0.243%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$76 a day on $10k at the current rate, and Hyperliquid is 0.243% cheaper against Kraken Futures than usual: you would sell low and buy high (−$24 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_UMAUSD	0.4060	0.2646	pay 0.0331% / 1h	17m 21s	$14K	$6K	10x
Short	Hyperliquid UMA	0.4050	0.0100	get 0.0013% / 1h	17m 21s	$214K	$67K	3x

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

Position, each leg$Hold fordaysFee Kraken FuturesbpFee HyperliquidbpOrdersPrice spread, now −0.243%Rate

Funding earned: −$534.65
Price spread: −0.243% → 0.000%: −$24.31
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$577.96
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Hyperliquid: live order book, 12 min ago. Net counts fees only.

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 no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 12 min ago	3.33 bp	40.9 bp −$41	doesn't fit	doesn't fit	doesn't fit

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

UMA on 13 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
BloFin UMA-USDT	+0.0057%	4h	0.4054	−0.154%	$75K	$8K	50x	as long as short
Hyperliquid UMAshort	+0.0100%	1h	0.4050	−0.243%	$214K	$67K	3x
Aster UMAUSDT	+0.0100%	4h	0.4052	−0.209%	$25K	$2K	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4048	−0.314%	$1.5M	$1.2M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4054	−0.154%	$672K	$157K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4046	−0.351%	$315K	$236K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4046	−0.351%	$78K	$45K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4048	−0.302%	$225K	$163K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4049	−0.278%	$156K	$63K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4053	−0.179%	$976K	$67K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX UMA-USDT	+0.0100%	4h	0.4049	−0.278%	—	$2.3M	—	as long as short
Variational Omni UMA	+0.0100%	4h	0.4060	−0.001%	$5K	$7	—	as long as short
Kraken Futures PF_UMAUSDlong	+0.2646%	1h	0.4060	long leg	$14K	$6K	10x