Funding you earn now, next payment 02:00 UTC−0.2781%/8h= −304.5% APRnext payment −$3.48 per $10,000 · paid last 24h −0.315%
Price spread now: Hyperliquid against Kraken Futures−0.095%7-day average −0.050% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−1.192%−$119 on $10k
+Price spread, last 3 days (all we have)−0.042%−$4 · spread now −0.095%, 7d avg −0.050%
=Together, before fees−1.234%+ Points / potential airdropHyperliquid: Season 2 · farm board−$123 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$83 a day on $10k at the current rate, and Hyperliquid is 0.045% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.050%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.192% in total (about -62.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.48 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_ZENUSD | 7.7274 | 0.3211 | pay 0.0401% / 1h | 53m 35s | $506K | $1.0M | 25x |
| Short | Hyperliquid ZEN | 7.7200 | 0.0430 | get 0.0054% / 1h | 53m 35s | $2.4M | $1.7M | 5x |
Kraken Futures PF_ZENUSD
Hyperliquid ZENFunding 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
- −$584
- Price spread: −0.095% → −0.050%
- −$4.51
- 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
- −$607.52
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 5 min ago; Hyperliquid: live order book, 7 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 live order book, 5 min ago | 33.51 bp | 74.4 bp −$74 | 201.3 bp −$2,013 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 7 min ago | 1.80 bp | 15.1 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
ZEN on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni ZENUSDT | −0.0705% | 1h | 7.7420 | +0.189% | $26K | $688K | 50x | as long as short |
| dYdX ZEN-USD | 0.0000% | 1h | 7.7073 | −0.260% | $9K | — | 5x | as long as short |
| Variational Omni ZEN | +0.0044% | 8h | 7.6923 | −0.454% | $51K | $85K | — | as long as short |
| Aster ZENUSDT | +0.0100% | 8h | 7.6960 | −0.406% | $55K | $382K | 10x | as long as short |
| Binance ZENUSDT | +0.0100% | 8h | 7.7117 | −0.202% | $11.2M | $31.5M | 75x | as long as short |
| Bybit ZENUSDT | +0.0100% | 8h | 7.7090 | −0.238% | $4.6M | $6.1M | 75x | as long as short |
| OKX ZEN-USDT-SWAP | +0.0100% | 4h | 7.7080 | −0.251% | $2.3M | $5.6M | 50x | as long as short |
| MEXC ZEN_USDT | +0.0100% | 8h | 7.7100 | −0.225% | $12.2M | $5.3M | 200x | as long as short |
| KuCoin ZENUSDTM | +0.0100% | 8h | 7.7070 | −0.264% | $4.4M | $4.8M | 50x | as long as short |
| Bitget ZENUSDT | +0.0100% | 8h | 7.7120 | −0.199% | $2.9M | $3.5M | 50x | as long as short |
ApeX Omni ZENUSDT
dYdX ZEN-USD
Variational Omni ZEN
Aster ZENUSDT
Binance ZENUSDT
Bybit ZENUSDT
OKX ZEN-USDT-SWAP
MEXC ZEN_USDT
KuCoin ZENUSDTM
Bitget ZENUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX ZEN-USDT | +0.0100% | 8h | 7.7070 | −0.264% | — | $3.3M | — | as long as short |
| GRVT ZEN_USDT_Perp | +0.0100% | 8h | 7.6960 | −0.405% | $586K | $1.8M | 10x | as long as short |
| SunX ZEN-USDT | +0.0100% | 8h | 7.6820 | −0.587% | $1K | $1.4M | 20x | as long as short |
| Extended ZEN-USD | +0.0104% | 1h | 7.7080 | −0.250% | $22K | $117K | 5x | as long as short |
| BloFin ZEN-USDT | +0.0220% | 8h | 7.6840 | −0.561% | $860K | $1.7M | 75x | as long as short |
| Hyperliquid ZENshort | +0.0430% | 1h | 7.7200 | −0.095% | $2.4M | $1.7M | 5x | |
| Kraken Futures PF_ZENUSDlong | +0.3211% | 1h | 7.7274 | long leg | $506K | $1.0M | 25x |
BingX ZEN-USDT
GRVT ZEN_USDT_Perp
SunX ZEN-USDT
Extended ZEN-USD
BloFin ZEN-USDT