Funding you earn now, next payment 00:00 UTC+0.0033%/8h= +3.6% APRnext payment +$0.04 per $10,000 · paid last 24h −0.200%
Price spread now: Kraken Futures against Hyperliquid+0.109%7-day average +0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs−$103as in the Funding arb table
Net, price: spread back to 7d avg − costs−$96as in the Price arb table
costs, in and out, $10k−$1061.061% of the position
Funding, last 7 days+0.032%+$3 on $10k
+Price spread, last 3 days (all we have)−0.307%−$31 · spread now +0.109%, 7d avg +0.004%
=Together, before fees−0.276%+ Points / potential airdropHyperliquid: Season 2 · farm board−$28 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kraken Futures is 0.105% dearer against Hyperliquid than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.004%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ZRO | 1.1765 | 0.0100 | pay 0.0013% / 1h | 7m 37s | $37.3M | $6.1M | 5x |
| Short | Kraken Futures PF_ZROUSD | 1.1778 | 0.0133 | get 0.0017% / 1h | 7m 37s | $253K | $419K | 25x |
Hyperliquid ZRO
Kraken Futures PF_ZROUSDFunding 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
- $6.84
- Price spread: +0.109% → +0.004%
- $10.46
- Slippage, 4 orders
- −$87.14
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$88.84
- Costs to cover
- 1.061%
- Break-even
- 97.9 days
Slippage from Hyperliquid: live order book, 6 min ago; Kraken Futures: live order book, 5 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, 6 min ago | 0.43 bp | 11.6 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 5 min ago | 26.80 bp | 42.6 bp −$43 | 133.8 bp −$1,338 | doesn't fit | doesn't fit |
ZRO on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange ZROUSD | −0.0240% | 1h | 1.1739 | −0.218% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0012% | 4h | 1.1768 | +0.025% | $21K | $7K | 10x | as long as short |
| dYdX ZRO-USD | +0.0094% | 1h | 1.1763 | −0.014% | $21K | $3K | 5x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1765 | +0.004% | $4.4M | $1.5M | 5x | as long as short |
| Hyperliquid ZROlong | +0.0100% | 1h | 1.1765 | long leg | $37.3M | $6.1M | 5x | |
| Aster ZROUSDT | +0.0100% | 4h | 1.1759 | −0.049% | $157K | $153K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1757 | −0.067% | $136K | $173K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1738 | −0.229% | $22.1M | $30.8M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1746 | −0.161% | $17.9M | $14.4M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1749 | −0.136% | $3.2M | $8.1M | 20x | as long as short |
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
dYdX ZRO-USD
Lighter ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDT
OKX ZRO-USDT-SWAPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ZRO_USDT | +0.0100% | 4h | 1.1760 | −0.042% | $1.3M | $1.8M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1754 | −0.093% | $19.1M | $2.8M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1744 | −0.178% | $2.4M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1759 | −0.051% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1752 | −0.110% | — | $10.7M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1772 | +0.059% | $98K | $205K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1719 | −0.393% | $2.3M | $879K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1750 | −0.127% | $37K | $688K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1773 | +0.068% | $94K | $823K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1768 | +0.023% | $21K | — | 3x | as long as short |
| Kraken Futures PF_ZROUSDshort | +0.0133% | 1h | 1.1778 | +0.109% | $253K | $419K | 25x | |
| BloFin ZRO-USDT | +0.0134% | 4h | 1.1740 | −0.212% | $1.1M | $256K | 75x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0291% / S −0.2341% | 1h | 1.1770 | +0.046% | $3K | — | 100x | as long as short |
| Nado ZRO-PERP | +0.0305% | 1h | 1.1762 | −0.027% | $1.3M | $124K | 5x | as long as short |
| Injective ZRO/USDC PERP | +0.1159% | 1h | 1.1790 | +0.212% | $12K | $260K | 12x | as long as short |
| Extended ZRO-USD | +0.1936% | 1h | 1.1742 | −0.195% | $784K | $589K | 10x | as long as short |
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Backpack ZRO_USDC_PERP
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
BloFin ZRO-USDT
GMX ZRO/USD [ETH-USDC]
Nado ZRO-PERP
Injective ZRO/USDC PERP
Extended ZRO-USD