AR

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.2110%/8h= −231.1% APRnext payment −$2.64 per $10,000 · paid last 24h −0.369%

Price spread now: Kraken Futures against Hyperliquid−0.120%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$271as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1131.131% of the position

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.578%−$158 on $10k

Price spread, last 3 days (all we have)−0.563%−$56 · spread now −0.120%, 7d avg −0.042%

Together, before fees−2.142%+ Points / potential airdropHyperliquid: Season 2 · farm board−$214 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$63 a day on $10k at the current rate, and Kraken Futures is 0.078% cheaper against Hyperliquid than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.042%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AR	4.4678	0.0100	pay 0.0013% / 1h	10m 08s	$3.8M	$4.8M	5x
Short	Kraken Futures PF_ARUSD	4.4624	−0.2010	pay 0.0251% / 1h	10m 08s	$46K	$155K	20x

Funding 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee Kraken FuturesbpOrdersPrice spread, now −0.120%Rate

Funding earned: −$443.2
Price spread: −0.120% → −0.042%: −$7.8
Slippage, 4 orders: −$94.14
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$564.13
Costs to cover: 1.131%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 2 min ago; Kraken Futures: live order book, 12 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, 2 min ago	1.68 bp	14.6 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 12 min ago	32.26 bp	46.3 bp −$46	doesn't fit	doesn't fit	doesn't fit

AR 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
Kraken Futures PF_ARUSDshort	−0.2010%	1h	4.4624	−0.120%	$46K	$155K	20x
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.4637	−0.092%	$573K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+2.332%	$3K	$363	5.5x	as long as short
Hyperliquid ARlong	+0.0100%	1h	4.4678	long leg	$3.8M	$4.8M	5x
Aster ARUSDT	+0.0100%	8h	4.4668	−0.022%	$20K	$621K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.4610	−0.152%	$8.7M	$55.9M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.4600	−0.175%	$4.6M	$9.0M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.4590	−0.197%	$2.2M	$20.5M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4620	−0.130%	$2.5M	$2.3M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.4600	−0.175%	$6.8M	$4.8M	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTM	+0.0100%	8h	4.4640	−0.085%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4610	−0.152%	$3.8M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.4610	−0.152%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.4619	−0.132%	$135K	$174K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.4760	+0.184%	$57K	$747K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.4595	−0.186%	$36K	$237K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.4640	−0.085%	$420K	$667K	20x	as long as short