ALGO

Alert

Funding spread now, next payment 16:00 UTC−0.0880%/8h

next payment, per $10,000−$1.10paid, last 24h−0.047%paid, last 7 days−0.317%to open and close $10k−$93

Long on Hyperliquid Short on Kraken Futures

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.317% in total (about -16.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.10 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 ALGO	0.1134	0.0100	pay 0.0013% / 1h	42m 28s	$3.7M	$2.7M	5x
Short	Kraken Futures PF_ALGOUSD	0.1132	−0.0780	pay 0.0097% / 1h	42m 28s	$855K	$1.8M	50x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee Kraken FuturesbpOrdersRate

Funding earned: −$184.7
Slippage, 4 orders: −$73.63
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$277.33
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Kraken Futures: live order book, 3 min ago.

Price risk

price view

Price gap now: −0.170%
Avg gap 7d: −0.003%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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, 10 min ago	2.19 bp	20.8 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	12.75 bp	34.0 bp −$34	70.0 bp −$700	doesn't fit	doesn't fit

ALGO on 22 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_ALGOUSDshort	−0.0780%	1h	$855K	$1.8M	50x
Deribit ALGO_USDC-PERPETUAL	−0.0722%	1h	$102K	$57K	25x	as long as short
gTrade (Gains Network) ALGO/USD	L +0.0001% / S +0.0003%	1h	$7K	—	150x	as long as short
Coinbase International ALGO-PERP-INTX	+0.0048%	1h	$69K	$450K	50x	as long as short
Hyperliquid ALGOlong	+0.0100%	1h	$3.7M	$2.7M	5x
Aster ALGOUSDT	+0.0100%	8h	$43K	$87K	5x	as long as short
Binance ALGOUSDT	+0.0100%	8h	$10.4M	$39.2M	75x	as long as short
Bybit ALGOUSDT	+0.0100%	8h	$11.7M	$13.2M	75x	as long as short
OKX ALGO-USDT-SWAP	+0.0100%	8h	$3.0M	$9.9M	50x	as long as short
Gate ALGO_USDT	+0.0100%	8h	$855K	$1.0M	50x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
MEXC ALGO_USDT	+0.0100%	8h	$22.4M	$3.9M	200x	as long as short
KuCoin ALGOUSDTM	+0.0100%	8h	$3.7M	$1.8M	50x	as long as short
Bitget ALGOUSDT	+0.0100%	8h	$5.7M	$4.2M	75x	as long as short
BingX ALGO-USDT	+0.0100%	8h	—	$3.3M	—	as long as short
Variational Omni ALGO	+0.0100%	8h	$66K	$197K	—	as long as short
HTX ALGO-USDT	+0.0100%	8h	$67K	$117K	75x	as long as short
Phemex ALGOUSDT	+0.0100%	8h	$3.9M	$2.0M	50x	as long as short
Extended ALGO-USD	+0.0104%	1h	$13K	$224K	10x	as long as short
Injective ALGO/USDC PERP	+0.0166%	1h	$841	$151K	12x	as long as short
BloFin ALGO-USDT	+0.0220%	8h	$522K	$710K	75x	as long as short
GMX ALGO/USD [WBTC.b-USDC]	L +0.0238% / S −0.0167%	1h	$5K	—	100x	as long as short
dYdX ALGO-USD	+0.0281%	1h	$162K	$6K	5x	as long as short