Funding you earn now, next payment 08:00 UTC+0.2587%/8h= +283.2% APRnext payment +$3.23 per $10,000 · paid last 24h +0.582%
Price spread now: Kraken Futures against Hyperliquid+0.242%7-day average +0.168% · you sell dearer than you buy
Net, funding: paid 7d − costs−$30as in the Funding arb table
Net, price: spread back to 7d avg − costs−$183as in the Price arb table
costs, in and out, $10k−$1901.902% of the position
Funding, last 7 days+1.606%+$161 on $10k
+Price spread, last 4 days (all we have)−0.045%−$5 · spread now +0.242%, 7d avg +0.168%
=Together, before fees+1.561%+ Points / potential airdropHyperliquid: Season 2 · farm board+$156 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$78 a day on $10k at the current rate, and Kraken Futures is 0.074% dearer against Hyperliquid than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.168%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.606% in total (about 83.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.23 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 ZK | 0.01196 | 0.0100 | pay 0.0013% / 1h | 1m 52s | $595K | $165K | 5x |
| Short | Kraken Futures PF_ZKUSD | 0.01199 | 0.2687 | get 0.0336% / 1h | 1m 52s | $209K | $46K | 25x |
Hyperliquid ZK
Kraken Futures PF_ZKUSDFunding 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
- $543.19
- Price spread: +0.242% → +0.168%
- $7.35
- Slippage, 4 orders
- −$171.19
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $360.35
- Costs to cover
- 1.902%
- Break-even
- 2.4 days
Slippage from Hyperliquid: live order book, 58 min ago; Kraken Futures: live order book, 36 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, 58 min ago | 2.11 bp | 18.4 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 36 min ago | 39.10 bp | 63.4 bp −$63 | 288.5 bp −$2,885 | doesn't fit | doesn't fit |
ZK 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ZK/USDC PERP | +0.0033% | 1h | 0.01170 | −2.190% | $2K | $31K | 5.5x | as long as short |
| BloFin ZK-USDT | +0.0062% | 4h | 0.01193 | −0.251% | $215K | $19K | 75x | as long as short |
| Lighter ZK | +0.0096% | 1h | 0.01195 | −0.117% | $128K | $197K | 8x | as long as short |
| Hyperliquid ZKlong | +0.0100% | 1h | 0.01196 | long leg | $595K | $165K | 5x | |
| Aster ZKUSDT | +0.0100% | 4h | 0.01195 | −0.099% | $33K | $23K | 10x | as long as short |
| Pacifica ZK | +0.0100% | 1h | 0.01193 | −0.268% | $29K | $3K | 5x | as long as short |
| Binance ZKUSDT | +0.0100% | 4h | 0.01195 | −0.139% | $4.9M | $7.9M | 75x | as long as short |
| Bybit ZKUSDT | +0.0100% | 4h | 0.01194 | −0.176% | $5.2M | $2.4M | 25x | as long as short |
| OKX ZK-USDT-SWAP | +0.0100% | 4h | 0.01194 | −0.192% | $1.0M | $2.1M | 20x | as long as short |
| Gate ZK_USDT | +0.0100% | 8h | 0.01193 | −0.268% | $304K | $265K | 50x | as long as short |
Injective ZK/USDC PERP
BloFin ZK-USDT
Lighter ZK
Aster ZKUSDT
Pacifica ZK
Binance ZKUSDT
Bybit ZKUSDT
OKX ZK-USDT-SWAP
Gate ZK_USDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ZKUSDTM | +0.0100% | 4h | 0.01193 | −0.268% | $970K | $1.7M | 50x | as long as short |
| Bitget ZKUSDT | +0.0100% | 4h | 0.01195 | −0.100% | $1.4M | $891K | 75x | as long as short |
| BingX ZK-USDT | +0.0100% | 4h | 0.01194 | −0.209% | — | $6.6M | — | as long as short |
| Variational Omni ZK | +0.0100% | 4h | 0.01190 | −0.486% | $57K | $13K | — | as long as short |
| GRVT ZK_USDT_Perp | +0.0100% | 4h | 0.01192 | −0.366% | $156K | $2.1M | 10x | as long as short |
| ApeX Omni ZKUSDT | +0.0100% | 1h | 0.01193 | −0.268% | $8K | $628K | 50x | as long as short |
| Kraken Futures PF_ZKUSDshort | +0.2687% | 1h | 0.01199 | +0.242% | $209K | $46K | 25x |
KuCoin ZKUSDTM
Bitget ZKUSDT
BingX ZK-USDT
Variational Omni ZK
GRVT ZK_USDT_Perp
ApeX Omni ZKUSDT