Funding you earn now, next payment 11:00 UTC−0.1144%/8h= −125.2% APRnext payment −$1.43 per $10,000 · paid last 24h −0.266%
Price spread now: Hyperliquid against Kraken Futures+0.233%7-day average +0.143% · you sell dearer than you buy
Net, funding: paid 7d − costs−$167as in the Funding arb table
Net, price: spread back to 7d avg − costs−$144as in the Price arb table
costs, in and out, $10k−$1531.525% of the position
Funding, last 7 days−0.147%−$15 on $10k
+Price spread, last 4 days (all we have)+0.527%+$53 · spread now +0.233%, 7d avg +0.143%
=Together, before fees+0.380%+ Points / potential airdropHyperliquid: Season 2 · farm board+$38 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.090% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.233% now, against its 7-day average of +0.143%): +$9 on $10k if it goes back. Holding the pair costs −$34 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.147% in total) that is about 4.3 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.147% in total (about -7.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.43 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_BRETTUSD | 0.005747 | 0.1258 | pay 0.0157% / 1h | 55m 36s | $38K | $105K | 10x |
| Short | Hyperliquid BRETT | 0.005760 | 0.0114 | get 0.0014% / 1h | 55m 36s | $311K | $294K | 3x |
Kraken Futures PF_BRETTUSD
Hyperliquid BRETTFunding 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
- −$240.18
- Price spread: +0.233% → +0.143%
- $8.97
- Slippage, 4 orders
- −$133.53
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$383.74
- Costs to cover
- 1.525%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 54 min ago; Hyperliquid: live order book, 51 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, 54 min ago | 36.45 bp | 42.8 bp −$43 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 51 min ago | 1.73 bp | 26.6 bp −$27 | doesn't fit | doesn't fit | doesn't fit |
BRETT on 14 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| GMX BRETT/USD [ETH-USDC] | L 0.0000% / S 0.0000% | 1h | 0.005740 | −0.115% | — | — | 100x | as long as short |
| Injective BRETT/USDC PERP | +0.0033% | 1h | 0.005839 | +1.607% | $61 | $854 | 5.5x | as long as short |
| Binance BRETTUSDT | +0.0100% | 4h | 0.005751 | +0.076% | $1.2M | $2.8M | 50x | as long as short |
| Bybit BRETTUSDT | +0.0100% | 4h | 0.005746 | −0.011% | $2.1M | $2.1M | 25x | as long as short |
| OKX BRETT-USDT-SWAP | +0.0100% | 4h | 0.005746 | −0.011% | $142K | $415K | 10x | as long as short |
| Gate BRETT_USDT | +0.0100% | 4h | 0.005748 | +0.024% | $416K | $92K | 25x | as long as short |
| MEXC BRETT_USDT | +0.0100% | 4h | 0.005751 | +0.076% | $12.2M | $211K | 200x | as long as short |
| KuCoin BRETTUSDTM | +0.0100% | 4h | 0.005756 | +0.163% | $278K | $111K | 30x | as long as short |
| Bitget BRETTUSDT | +0.0100% | 4h | 0.005742 | −0.081% | $1.3M | $475K | 50x | as long as short |
| BingX BRETT-USDT | +0.0100% | 4h | 0.005756 | +0.163% | — | $1.4M | — | as long as short |
GMX BRETT/USD [ETH-USDC]
Injective BRETT/USDC PERP
Binance BRETTUSDT
Bybit BRETTUSDT
OKX BRETT-USDT-SWAP
Gate BRETT_USDT
MEXC BRETT_USDT
KuCoin BRETTUSDTM
Bitget BRETTUSDT
BingX BRETT-USDTShow all 14 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni BRETT | +0.0100% | 4h | 0.005745 | −0.037% | $42K | $95K | — | as long as short |
| Hyperliquid BRETTshort | +0.0114% | 1h | 0.005760 | +0.233% | $311K | $294K | 3x | |
| BloFin BRETT-USDT | +0.0146% | 4h | 0.005764 | +0.302% | $56K | $200K | 50x | as long as short |
| Kraken Futures PF_BRETTUSDlong | +0.1258% | 1h | 0.005747 | long leg | $38K | $105K | 10x |
Variational Omni BRETT
BloFin BRETT-USDT