Funding you earn now, next payment 23:00 UTC−0.0015%/8h= −1.7% APRnext payment −$0.02 per $10,000 · paid last 24h −0.074%
Price spread now: Kraken Futures against Hyperliquid−0.058%7-day average −0.030% · you buy dearer than you sell
Net, funding: paid 7d − costs−$81as in the Funding arb table
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$480.482% of the position
Funding, last 7 days−0.329%−$33 on $10k
+Price spread, last 3 days (all we have)+0.780%+$78 · spread now −0.058%, 7d avg −0.030%
=Together, before fees+0.451%+ Points / potential airdropHyperliquid: Season 2 · farm board+$45 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Kraken Futures is 0.027% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.030%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ARB | 0.2242 | 0.0100 | pay 0.0013% / 1h | 18m 19s | $40.1M | $50.6M | 10x |
| Short | Kraken Futures PF_ARBUSD | 0.2240 | 0.0085 | get 0.0011% / 1h | 18m 19s | $1.1M | $5.1M | 50x |
Hyperliquid ARB
Kraken Futures PF_ARBUSDFunding 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
- −$3.17
- Price spread: −0.058% → −0.030%
- −$2.72
- Slippage, 4 orders
- −$29.15
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$54.05
- Costs to cover
- 0.482%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 5 min ago; Kraken Futures: live order book, 6 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, 5 min ago | 0.89 bp | 6.5 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 6 min ago | 8.71 bp | 15.8 bp −$16 | 23.6 bp −$236 | 412.9 bp −$41.3K | doesn't fit |
ARB on 36 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 ARB/USDC PERP | −0.1770% | 1h | 0.2230 | −0.517% | $40K | $372K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0232% | 1h | 0.2237 | −0.187% | $7K | $2K | 10x | as long as short |
| SoDEX ARB-USD | −0.0196% | 1h | 0.2238 | −0.147% | $4K | $2.8M | 5x | as long as short |
| Variational Omni ARB | −0.0168% | 8h | 0.2238 | −0.149% | $1.9M | $2.7M | — | as long as short |
| Bybit ARBUSDT | −0.0147% | 8h | 0.2238 | −0.138% | $57.9M | $133.2M | 50x | as long as short |
| Polymarket Perps ARB-USD | −0.0123% | 1h | 0.2238 | −0.147% | $73K | $2.0M | 10x | as long as short |
| OKX ARB-USDT-SWAP | −0.0100% | 8h | 0.2238 | −0.147% | $22.5M | $160.7M | 50x | as long as short |
| MEXC ARB_USDT | −0.0100% | 8h | 0.2239 | −0.120% | $37.2M | $62.7M | 200x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0063% | 1h | 0.2239 | −0.107% | $26K | $32K | 25x | as long as short |
| Orderly PERP_ARB_USDC | −0.0038% | 8h | 0.2238 | −0.161% | $10K | $395K | 10x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
SoDEX ARB-USD
Variational Omni ARB
Bybit ARBUSDT
Polymarket Perps ARB-USD
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Deribit ARB_USDC-PERPETUAL
Orderly PERP_ARB_USDCShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ARBUSDT | −0.0009% | 8h | 0.2240 | −0.094% | $64.1M | $316.9M | 75x | as long as short |
| Extended ARB-USD | −0.0008% | 1h | 0.2238 | −0.172% | $356K | $2.4M | 25x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2241 | −0.040% | $66K | $4K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2240 | −0.071% | $56K | — | 150x | as long as short |
| Gate ARB_USDT | +0.0033% | 8h | 0.2239 | −0.120% | $5.5M | $20.7M | 60x | as long as short |
| Bitget ARBUSDT | +0.0068% | 8h | 0.2239 | −0.116% | $21.0M | $37.3M | 50x | as long as short |
| BingX ARB-USDC | +0.0073% | 8h | 0.2237 | −0.187% | — | $6.5M | — | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2240 | −0.071% | $146K | $12K | 3x | as long as short |
| Kraken Futures PF_ARBUSDshort | +0.0085% | 1h | 0.2240 | −0.058% | $1.1M | $5.1M | 50x | |
| Lighter ARB | +0.0096% | 1h | 0.2240 | −0.049% | $1.3M | $7.4M | 15x | as long as short |
| Hyperliquid ARBlong | +0.0100% | 1h | 0.2242 | long leg | $40.1M | $50.6M | 10x | |
| Aster ARBUSDT | +0.0100% | 8h | 0.2239 | −0.096% | $696K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2240 | −0.069% | $44K | $193K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2240 | −0.094% | $20.6M | $16.4M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2239 | −0.101% | $40K | $462K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2240 | −0.070% | $486K | $3.9M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2240 | −0.071% | $121K | $295K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2241 | −0.027% | $1K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2238 | −0.161% | $276K | $1.1M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2239 | −0.116% | $5.2M | $13.4M | 50x | as long as short |
| BloFin ARB-USDT | +0.0112% | 8h | 0.2239 | −0.098% | $3.0M | $3.3M | 75x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0264% | 1h | 0.2242 | +0.018% | $506K | $2.3M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0274% / S −0.0156% | 1h | 0.2240 | −0.089% | $840K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2238 | −0.174% | $2K | $695 | 20x | as long as short |
| RISEx ARB/USDC | +0.0363% | 1h | 0.2240 | −0.056% | $495K | $2.7M | 10x | as long as short |
| Backpack ARB_USDC_PERP | +0.0624% | 1h | 0.2243 | +0.080% | $1.1M | $2.7M | 20x | as long as short |
Binance ARBUSDT
Extended ARB-USD
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
Gate ARB_USDT
Bitget ARBUSDT
BingX ARB-USDC
Aevo ARB-PERP
Lighter ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
BloFin ARB-USDT
Coinbase International ARB-PERP-INTX
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
RISEx ARB/USDC
Backpack ARB_USDC_PERP