XMR

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0991%/8h= −108.5% APRnext payment −$1.24 per $10,000 · paid last 24h −0.049%

Price spread now: Kraken Futures against Hyperliquid−0.196%7-day average −0.150% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$460.462% of the position

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 4 days (all we have)+0.136%+$14 · spread now −0.196%, 7d avg −0.150%

Together, before fees+0.227%+ Points / potential airdropHyperliquid: Season 2 · farm board+$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$30 a day on $10k at the current rate, and Kraken Futures is 0.046% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.150%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.091%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.091% in total (about 4.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.24 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 XMR	574.71	0.1216	pay 0.0152% / 1h	11m 35s	$86.6M	$71.2M	5x
Short	Kraken Futures PF_XMRUSD	573.58	0.0225	get 0.0028% / 1h	11m 35s	$5.4M	$19.1M	50x

Funding 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 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 HyperliquidbpFee Kraken FuturesbpOrdersPrice spread, now −0.196%Rate

Funding earned: −$208.14
Price spread: −0.196% → −0.150%: −$4.65
Slippage, 4 orders: −$27.22
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$259.01
Costs to cover: 0.462%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 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, 12 min ago	0.79 bp	9.9 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	5.13 bp	18.6 bp −$19	39.7 bp −$397	134.8 bp −$13.5K	doesn't fit

XMR on 31 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) XMR/USD	L +0.0010% / S −0.0003%	1h	573.59	−0.195%	$37K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.364%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	576.00	+0.225%	$1.0M	$642K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	573.90	−0.141%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	573.00	−0.298%	$1.1M	$1.6M	20x	as long as short
Aevo XMR-PERP	+0.0224%	1h	575.70	+0.173%	$12K	—	3x	as long as short
Kraken Futures PF_XMRUSDshort	+0.0225%	1h	573.58	−0.196%	$5.4M	$19.1M	50x
KuCoin XMRUSDTM	+0.0298%	8h	574.33	−0.066%	$45.0M	$26.4M	50x	as long as short
Paradex XMR-USD-PERP	+0.0482%	8h	574.77	+0.010%	$8K	$4K	20x	as long as short
Bitget XMRUSDT	+0.0522%	8h	574.86	+0.026%	$9.5M	$13.4M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate XMR_USDT	+0.0566%	8h	574.45	−0.045%	$1.5M	$4.5M	50x	as long as short
MEXC XMR_USDT	+0.0571%	8h	574.90	+0.033%	$19.9M	$14.7M	100x	as long as short
Binance XMRUSDT	+0.0571%	8h	574.87	+0.028%	$52.5M	$163.0M	75x	as long as short
BingX XMR-USDT	+0.0613%	8h	574.68	−0.005%	—	$5.6M	—	as long as short
Lighter XMR	+0.0624%	1h	574.64	−0.012%	$3.1M	$7.6M	10x	as long as short
Bybit XMRUSDT	+0.0640%	8h	574.62	−0.016%	$46.7M	$64.3M	75x	as long as short
Pacifica XMR	+0.0682%	1h	574.73	+0.004%	$266K	$1.0M	10x	as long as short
Backpack XMR_USDC_PERP	+0.0689%	1h	574.15	−0.097%	$169K	$532K	20x	as long as short
Extended XMR-USD	+0.0696%	1h	574.51	−0.035%	$3.1M	$8.3M	25x	as long as short
Polymarket Perps XMR-USD	+0.0721%	1h	574.50	−0.037%	$28K	$2.2M	5x	as long as short
Aster XMRUSDT	+0.0722%	8h	574.76	+0.008%	$642K	$2.3M	75x	as long as short
dYdX XMR-USD	+0.0857%	1h	573.71	−0.175%	$104K	$44K	5x	as long as short
BloFin XMR-USDT	+0.0942%	8h	575.37	+0.115%	$2.7M	$11.2M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0980%	8h	575.70	+0.172%	$341K	$739K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0990% / S −0.1256%	1h	573.44	−0.222%	$591K	—	100x	as long as short
Nado XMR-PERP	+0.1108%	1h	574.64	−0.013%	$1.3M	$458K	10x	as long as short
Variational Omni XMR	+0.1143%	8h	573.01	−0.295%	$6.3M	$2.3M	—	as long as short
Orderly PERP_XMR_USDC	+0.1148%	8h	574.47	−0.042%	$40K	$735K	10x	as long as short
Hyperliquid XMRlong	+0.1216%	1h	574.71	long leg	$86.6M	$71.2M	5x
SoDEX XMR-USD	+0.1392%	1h	574.66	−0.009%	$437K	$3K	5x	as long as short
Aftermath Perps XMRUSD	+0.1887%	1h	574.20	−0.089%	$2K	$43K	10x	as long as short