Funding you earn now, next payment 04:00 UTC−0.1824%/8h= −199.8% APRnext payment −$2.28 per $10,000 · paid last 24h −0.550%
Price spread now: Hyperliquid against Kraken Futures−0.015%50s7-day average −0.168% · you buy dearer than you sell
Net, funding: paid 7d − costs−$338as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1971.972% of the position
Funding, last 7 days−1.404%−$140 on $10k
+Price spread, last 4 days (all we have)−0.062%−$6 · spread now −0.015%, 7d avg −0.168%
=Together, before fees−1.466%+ Points / potential airdropHyperliquid: Season 2 · farm board−$147 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.153% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.015% now, against its 7-day average of −0.168%): +$15 on $10k if it goes back. Holding the pair costs −$55 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−1.404% in total) that is about 18 hours. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ZKUSD | 0.01187 | 0.1924 | pay 0.0241% / 1h | 1m 33s | $195K | $38K | 25x |
| Short | Hyperliquid ZK | 0.01187 | 0.0100 | get 0.0013% / 1h | 1m 33s | $591K | $188K | 5x |
Kraken Futures PF_ZKUSD
Hyperliquid ZKFunding 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
- −$383.1
- Price spread: −0.015% → −0.168%
- $15.28
- Slippage, 4 orders
- −$178.2
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$565.02
- Costs to cover
- 1.972%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 56 min ago; Hyperliquid: live order book, 28 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 Kraken Futures live order book, 56 min ago | 26.25 bp | 110.6 bp −$111 | 16643.9 bp −$166.4K | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 28 min ago | 2.10 bp | 21.2 bp −$21 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| OKX ZK-USDT-SWAP | −0.0003% | 4h | 0.01184 | −0.293% | $1.0M | $2.2M | 20x | as long as short |
| Injective ZK/USDC PERP | +0.0033% | 1h | 0.01170 | −1.463% | $2K | $31K | 5.5x | as long as short |
| BloFin ZK-USDT | +0.0052% | 4h | 0.01184 | −0.326% | $218K | $21K | 75x | as long as short |
| Lighter ZK | +0.0096% | 1h | 0.01186 | −0.133% | $136K | $180K | 8x | as long as short |
| Hyperliquid ZKshort | +0.0100% | 1h | 0.01187 | −0.015% | $591K | $188K | 5x | |
| Aster ZKUSDT | +0.0100% | 4h | 0.01184 | −0.270% | $32K | $21K | 10x | as long as short |
| Pacifica ZK | +0.0100% | 1h | 0.01185 | −0.217% | $30K | $3K | 5x | as long as short |
| Binance ZKUSDT | +0.0100% | 4h | 0.01185 | −0.230% | $4.9M | $8.3M | 75x | as long as short |
| Bybit ZKUSDT | +0.0100% | 4h | 0.01184 | −0.251% | $5.1M | $2.4M | 25x | as long as short |
| Gate ZK_USDT | +0.0100% | 8h | 0.01184 | −0.284% | $326K | $251K | 50x | as long as short |
OKX ZK-USDT-SWAP
Injective ZK/USDC PERP
BloFin ZK-USDT
Lighter ZK
Aster ZKUSDT
Pacifica ZK
Binance ZKUSDT
Bybit ZKUSDT
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 | 0.01184 | −0.284% | $972K | $1.4M | 50x | as long as short |
| Bitget ZKUSDT | +0.0100% | 4h | 0.01185 | −0.200% | $1.5M | $840K | 75x | as long as short |
| BingX ZK-USDT | +0.0100% | 4h | 0.01184 | −0.284% | — | $6.7M | — | as long as short |
| Variational Omni ZK | +0.0100% | 4h | 0.01182 | −0.445% | $58K | $15K | — | as long as short |
| GRVT ZK_USDT_Perp | +0.0100% | 4h | 0.01184 | −0.325% | $161K | $2.4M | 10x | as long as short |
| ApeX Omni ZKUSDT | +0.0100% | 1h | 0.01184 | −0.284% | $8K | $617K | 50x | as long as short |
| Kraken Futures PF_ZKUSDlong | +0.1924% | 1h | 0.01187 | long leg | $195K | $38K | 25x |
KuCoin ZKUSDTM
Bitget ZKUSDT
BingX ZK-USDT
Variational Omni ZK
GRVT ZK_USDT_Perp
ApeX Omni ZKUSDT