Funding you earn now, next payment 07:00 UTC+0.0931%/8h= +102.0% APRnext payment +$1.16 per $10,000 · paid last 24h +0.121%
Price spread now: Kraken Futures against Hyperliquid−0.241%7-day average +0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$141as in the Funding arb table
Net, price: spread back to 7d avg − costs−$212as in the Price arb table
costs, in and out, $10k−$1871.871% of the position
Funding, last 7 days+0.458%+$46 on $10k
+Price spread, last 4 days (all we have)+0.411%+$41 · spread now −0.241%, 7d avg +0.009%
=Together, before fees+0.869%+ Points / potential airdropHyperliquid: Season 2 · farm board+$87 on $10k · with fees, hour by hour
Funding pays, the price is against you. Kraken Futures is 0.250% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.241% now, against its 7-day average of +0.009%). If the spread goes back, that is −$25 on $10k: about 21 hours of funding at the current rate (+$28 a day). At the pace of the last 7 days (+0.458% in total) that is about 3.8 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.458% in total (about 23.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.16 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 DYDX | 0.1358 | 0.0100 | pay 0.0013% / 1h | 56m 14s | $2.1M | $715K | 5x |
| Short | Kraken Futures PF_DYDXUSD | 0.1355 | 0.1031 | get 0.0129% / 1h | 56m 14s | $309K | $353K | 20x |
Hyperliquid DYDX
Kraken Futures PF_DYDXUSDFunding 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
- $195.56
- Price spread: −0.241% → +0.009%
- −$24.98
- Slippage, 4 orders
- −$168.06
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$16.48
- Costs to cover
- 1.871%
- Break-even
- 7.6 days
Slippage from Hyperliquid: live order book, 5 min ago; Kraken Futures: 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 Hyperliquid live order book, 5 min ago | 1.47 bp | 25.5 bp −$25 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 51 min ago | 9.95 bp | 37.1 bp −$37 | doesn't fit | doesn't fit | doesn't fit |
DYDX on 21 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 DYDX/USDC PERP | −0.0045% | 1h | 0.1362 | +0.272% | $6K | $48K | 12x | as long as short |
| BloFin DYDX-USDT | +0.0070% | 8h | 0.1358 | −0.022% | $293K | $15K | 75x | as long as short |
| Lighter DYDX | +0.0096% | 1h | 0.1356 | −0.169% | $60K | $48K | 5x | as long as short |
| Hyperliquid DYDXlong | +0.0100% | 1h | 0.1358 | long leg | $2.1M | $715K | 5x | |
| Aster DYDXUSDT | +0.0100% | 8h | 0.1356 | −0.159% | $6K | $12K | 5x | as long as short |
| Binance DYDXUSDT | +0.0100% | 8h | 0.1356 | −0.167% | $5.3M | $8.6M | 75x | as long as short |
| Bybit DYDXUSDT | +0.0100% | 8h | 0.1354 | −0.309% | $4.6M | $2.4M | 75x | as long as short |
| OKX DYDX-USDT-SWAP | +0.0100% | 8h | 0.1356 | −0.191% | $2.1M | $3.2M | 20x | as long as short |
| Gate DYDX_USDT | +0.0100% | 8h | 0.1356 | −0.184% | $381K | $430K | 75x | as long as short |
| MEXC DYDX_USDT | +0.0100% | 8h | 0.1356 | −0.169% | $2.9M | $787K | 125x | as long as short |
Injective DYDX/USDC PERP
BloFin DYDX-USDT
Lighter DYDX
Aster DYDXUSDT
Binance DYDXUSDT
Bybit DYDXUSDT
OKX DYDX-USDT-SWAP
Gate DYDX_USDT
MEXC DYDX_USDTShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin DYDXUSDTM | +0.0100% | 8h | 0.1357 | −0.096% | $2.3M | $3.6M | 50x | as long as short |
| Bitget DYDXUSDT | +0.0100% | 8h | 0.1356 | −0.169% | $1.4M | $1.0M | 10x | as long as short |
| BingX DYDX-USDT | +0.0100% | 8h | 0.1355 | −0.243% | — | $3.0M | — | as long as short |
| Extended DYDX-USD | +0.0104% | 1h | 0.1356 | −0.164% | $4K | $118K | 10x | as long as short |
| Aevo DYDX-PERP | +0.0104% | 1h | 0.1355 | −0.209% | $49K | — | 3x | as long as short |
| GMX DYDX/USD [WBTC.b-USDC] | L +0.0187% / S −0.0526% | 1h | 0.1356 | −0.205% | $919 | — | 100x | as long as short |
| Arcus DYDX-USD | +0.0239% | 1h | 0.1358 | −0.022% | $52K | $20K | 5x | as long as short |
| Deribit DYDX_USDC-PERPETUAL | +0.0488% | 1h | 0.1356 | −0.169% | — | — | 25x | as long as short |
| Coinbase International DYDX-PERP-INTX | +0.0992% | 1h | 0.1360 | +0.125% | $17K | $34K | 50x | as long as short |
| Kraken Futures PF_DYDXUSDshort | +0.1031% | 1h | 0.1355 | −0.241% | $309K | $353K | 20x | |
| dYdX DYDX-USD | +0.3987% | 1h | 0.1356 | −0.144% | $77K | $2K | 5x | as long as short |
KuCoin DYDXUSDTM
Bitget DYDXUSDT
BingX DYDX-USDT
Extended DYDX-USD
Aevo DYDX-PERP
GMX DYDX/USD [WBTC.b-USDC]
Arcus DYDX-USD
Deribit DYDX_USDC-PERPETUAL
Coinbase International DYDX-PERP-INTX
dYdX DYDX-USD