Funding you earn now, next payment 03:00 UTC−0.0287%/8h= −31.5% APRnext payment −$0.36 per $10,000 · paid last 24h −0.014%
Price spread now: Kraken Futures against Hyperliquid+0.272%7-day average −0.042% · you sell dearer than you buy
Net, funding: paid 7d − costs−$43as in the Funding arb table
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$410.407% of the position
Funding, last 7 days−0.024%−$2 on $10k
+Price spread, last 4 days (all we have)+0.265%+$27 · spread now +0.272%, 7d avg −0.042%
=Together, before fees+0.241%+ Points / potential airdropHyperliquid: Season 2 · farm board+$24 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kraken Futures is 0.314% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.272% now, against its 7-day average of −0.042%): +$31 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 3.6 days. At the pace of the last 7 days (−0.024% in total) that is about 3 months.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.024% in total (about -1.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.36 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 | Hyperliquid UNI | 9.2337 | 0.0552 | pay 0.0069% / 1h | 16m 51s | $100.3M | $61.1M | 10x |
| Short | Kraken Futures PF_UNIUSD | 9.2589 | 0.0265 | get 0.0033% / 1h | 16m 51s | $5.2M | $7.6M | 50x |
Hyperliquid UNI
Kraken Futures PF_UNIUSDFunding 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
- −$60.36
- Price spread: +0.272% → −0.042%
- $31.44
- Slippage, 4 orders
- −$21.73
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$69.65
- Costs to cover
- 0.407%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 7 min ago; Kraken Futures: live order book, 2 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, 7 min ago | 0.70 bp | 5.4 bp −$5 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 5.91 bp | 11.9 bp −$12 | 12.2 bp −$122 | 53.0 bp −$5,297 | doesn't fit |
UNI on 40 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) UNI/USD | L +0.0004% / S −0.0006% | 1h | 9.2627 | +0.314% | $49K | — | 150x | as long as short |
| Injective UNI/USDC PERP | +0.0033% | 1h | 8.8300 | −4.372% | $660 | $154K | 12x | as long as short |
| 01 Exchange UNIUSD | +0.0056% | 1h | 9.2591 | +0.275% | $462 | $5 | 10x | as long as short |
| Nado UNI-PERP | +0.0100% | 1h | 9.2620 | +0.306% | $965K | $4.3M | 10x | as long as short |
| Aster UNIUSDT | +0.0100% | 8h | 9.2309 | −0.031% | $1.1M | $2.9M | 50x | as long as short |
| Pacifica UNI | +0.0100% | 1h | 9.2225 | −0.121% | $300K | $573K | 10x | as long as short |
| Binance UNIUSDT | +0.0100% | 8h | 9.2199 | −0.149% | $229.2M | $619.2M | 75x | as long as short |
| Bybit UNIUSDT | +0.0100% | 8h | 9.2170 | −0.181% | $103.5M | $109.4M | 75x | as long as short |
| OKX UNI-USDT-SWAP | +0.0100% | 8h | 9.2170 | −0.181% | $57.1M | $258.4M | 50x | as long as short |
| Arcus UNI-USD | +0.0100% | 1h | 9.2760 | +0.458% | $294K | $614K | 10x | as long as short |
gTrade (Gains Network) UNI/USD
Injective UNI/USDC PERP
01 Exchange UNIUSD
Nado UNI-PERP
Aster UNIUSDT
Pacifica UNI
Binance UNIUSDT
Bybit UNIUSDT
OKX UNI-USDT-SWAP
Arcus UNI-USDShow all 40 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate UNI_USDT | +0.0100% | 8h | 9.2290 | −0.051% | $23.7M | $61.6M | 75x | as long as short |
| MEXC UNI_USDT | +0.0100% | 8h | 9.2370 | +0.036% | $49.5M | $25.3M | 200x | as long as short |
| KuCoin UNIUSDTM | +0.0100% | 8h | 9.2300 | −0.040% | $13.9M | $12.9M | 75x | as long as short |
| Bitget UNIUSDT | +0.0100% | 8h | 9.2180 | −0.170% | $33.7M | $43.2M | 75x | as long as short |
| BingX UNI-USDC | +0.0100% | 8h | 9.2280 | −0.062% | — | $6.5M | — | as long as short |
| Backpack UNI_USDC_PERP | +0.0100% | 1h | 9.2557 | +0.238% | $1.0M | $2.3M | 10x | as long as short |
| Variational Omni UNI | +0.0100% | 8h | 9.1888 | −0.486% | $4.3M | $4.2M | — | as long as short |
| edgeX UNIUSDC | +0.0100% | 4h | 9.2838 | +0.543% | $175K | $345K | 20x | as long as short |
| GRVT UNI_USDT_Perp | +0.0100% | 8h | 9.2848 | +0.553% | $645K | $2.6M | 10x | as long as short |
| ApeX Omni UNIUSDT | +0.0100% | 1h | 9.1920 | −0.452% | $90K | $693K | 50x | as long as short |
| StandX UNI-USD | +0.0100% | 1h | 9.2880 | +0.588% | $45K | $3.3M | 20x | as long as short |
| Polymarket Perps UNI-USD | +0.0100% | 1h | 9.2657 | +0.347% | $89K | $417K | 10x | as long as short |
| Orderly PERP_UNI_USDC | +0.0100% | 8h | 9.2620 | +0.306% | $17K | $1.7M | 10x | as long as short |
| SunX UNI-USDT | +0.0100% | 8h | 9.2610 | +0.296% | $37K | $1.3M | 30x | as long as short |
| SoDEX UNI-USD | +0.0100% | 1h | 9.2500 | +0.177% | $22K | $770K | 10x | as long as short |
| HTX UNI-USDT | +0.0100% | 8h | 9.2745 | +0.442% | $723K | $4.4M | 75x | as long as short |
| Phemex UNIUSDT | +0.0100% | 8h | 9.2640 | +0.328% | $28.0M | $4.5M | 50x | as long as short |
| Paradex UNI-USD-PERP | +0.0100% | 8h | 9.2630 | +0.318% | $26K | — | 20x | as long as short |
| Extended UNI-USD | +0.0104% | 1h | 9.2226 | −0.120% | $311K | $1.6M | 25x | as long as short |
| Aevo UNI-PERP | +0.0104% | 1h | 9.2577 | +0.260% | $33K | — | 3x | as long as short |
| dYdX UNI-USD | +0.0109% | 1h | 9.2214 | −0.134% | $243K | $31K | 10x | as long as short |
| Deribit UNI_USDC-PERPETUAL | +0.0111% | 1h | 9.2641 | +0.329% | $593K | $193K | 50x | as long as short |
| BloFin UNI-USDT | +0.0220% | 8h | 9.2660 | +0.350% | $10.5M | $3.6M | 75x | as long as short |
| Kraken Futures PF_UNIUSDshort | +0.0265% | 1h | 9.2589 | +0.272% | $5.2M | $7.6M | 50x | |
| Coinbase International UNI-PERP-INTX | +0.0296% | 1h | 9.2720 | +0.415% | $1.1M | $5.4M | 50x | as long as short |
| Reya UNIRUSDPERP | +0.0371% | 1h | 9.2596 | +0.280% | $17K | — | 20x | as long as short |
| GMX UNI/USD [UNI-USDC] | L +0.0381% / S −0.0244% | 1h | 9.2647 | +0.335% | $660K | — | 120x | as long as short |
| Hyperliquid UNIlong | +0.0552% | 1h | 9.2337 | long leg | $100.3M | $61.1M | 10x | |
| Lighter UNI | +0.0576% | 1h | 9.2331 | −0.006% | $4.7M | $5.8M | 15x | as long as short |
| Aftermath Perps UNIUSD | +0.0991% | 1h | 9.2338 | +0.001% | $1K | $47K | 10x | as long as short |
Gate UNI_USDT
MEXC UNI_USDT
KuCoin UNIUSDTM
Bitget UNIUSDT
BingX UNI-USDC
Backpack UNI_USDC_PERP
Variational Omni UNI
edgeX UNIUSDC
GRVT UNI_USDT_Perp
ApeX Omni UNIUSDT
StandX UNI-USD
Polymarket Perps UNI-USD
Orderly PERP_UNI_USDC
SunX UNI-USDT
SoDEX UNI-USD
HTX UNI-USDT
Phemex UNIUSDT
Paradex UNI-USD-PERP
Extended UNI-USD
Aevo UNI-PERP
dYdX UNI-USD
Deribit UNI_USDC-PERPETUAL
BloFin UNI-USDT
Coinbase International UNI-PERP-INTX
Reya UNIRUSDPERP
GMX UNI/USD [UNI-USDC]
Lighter UNI
Aftermath Perps UNIUSD