Funding you earn now, next payment 10:00 UTC−0.0866%/8h= −94.8% APRnext payment −$1.08 per $10,000 · paid last 24h −0.148%
Price spread now: Hyperliquid against Kraken Futures+0.077%7-day average −0.007% · you sell dearer than you buy
Net, funding: paid 7d − costs−$211as in the Funding arb table
Net, price: spread back to 7d avg − costs−$151as in the Price arb table
costs, in and out, $10k−$1601.596% of the position
Funding, last 7 days−0.514%−$51 on $10k
+Price spread, last 4 days (all we have)−0.370%−$37 · spread now +0.077%, 7d avg −0.007%
=Together, before fees−0.884%+ Points / potential airdropHyperliquid: Season 2 · farm board−$88 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.083% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.077% now, against its 7-day average of −0.007%): +$8 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.514% in total) that is about 27 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.514% in total (about -26.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.08 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 | Kraken Futures PF_DYDXUSD | 0.1363 | 0.0966 | pay 0.0121% / 1h | 58m 53s | $307K | $298K | 20x |
| Short | Hyperliquid DYDX | 0.1364 | 0.0100 | get 0.0013% / 1h | 58m 53s | $2.0M | $709K | 5x |
Kraken Futures PF_DYDXUSD
Hyperliquid DYDXFunding 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
- −$181.88
- Price spread: +0.077% → −0.007%
- $8.34
- Slippage, 4 orders
- −$140.57
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$333.11
- Costs to cover
- 1.596%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 34 min ago; Hyperliquid: live order book, 2 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, 34 min ago | 7.09 bp | 85.8 bp −$86 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 2 min ago | 1.46 bp | 21.4 bp −$21 | 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 | −0.0100% | 1h | 0.1346 | −1.280% | $6K | $48K | 12x | as long as short |
| Deribit DYDX_USDC-PERPETUAL | 0.0000% | 1h | 0.1362 | −0.107% | — | — | 25x | as long as short |
| BloFin DYDX-USDT | +0.0087% | 8h | 0.1366 | +0.187% | $292K | $33K | 75x | as long as short |
| Lighter DYDX | +0.0096% | 1h | 0.1363 | −0.026% | $60K | $43K | 5x | as long as short |
| Hyperliquid DYDXshort | +0.0100% | 1h | 0.1364 | +0.077% | $2.0M | $709K | 5x | |
| Aster DYDXUSDT | +0.0100% | 8h | 0.1363 | −0.040% | $6K | $10K | 5x | as long as short |
| Binance DYDXUSDT | +0.0100% | 8h | 0.1363 | −0.060% | $5.3M | $7.8M | 75x | as long as short |
| Bybit DYDXUSDT | +0.0100% | 8h | 0.1362 | −0.114% | $4.8M | $2.7M | 75x | as long as short |
| OKX DYDX-USDT-SWAP | +0.0100% | 8h | 0.1363 | −0.033% | $2.1M | $2.8M | 20x | as long as short |
| Arcus DYDX-USD | +0.0100% | 1h | 0.1365 | +0.114% | $52K | $21K | 5x | as long as short |
Injective DYDX/USDC PERP
Deribit DYDX_USDC-PERPETUAL
BloFin DYDX-USDT
Lighter DYDX
Aster DYDXUSDT
Binance DYDXUSDT
Bybit DYDXUSDT
OKX DYDX-USDT-SWAP
Arcus DYDX-USDShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate DYDX_USDT | +0.0100% | 8h | 0.1363 | −0.048% | $367K | $422K | 75x | as long as short |
| MEXC DYDX_USDT | +0.0100% | 8h | 0.1362 | −0.107% | $2.9M | $736K | 125x | as long as short |
| KuCoin DYDXUSDTM | +0.0100% | 8h | 0.1364 | +0.040% | $2.3M | $3.3M | 50x | as long as short |
| Bitget DYDXUSDT | +0.0100% | 8h | 0.1363 | −0.033% | $1.4M | $861K | 10x | as long as short |
| BingX DYDX-USDT | +0.0100% | 8h | 0.1363 | −0.033% | — | $3.0M | — | as long as short |
| Extended DYDX-USD | +0.0104% | 1h | 0.1363 | −0.061% | $3K | $400K | 10x | as long as short |
| Aevo DYDX-PERP | +0.0104% | 1h | 0.1362 | −0.115% | $49K | — | 3x | as long as short |
| GMX DYDX/USD [WBTC.b-USDC] | L +0.0187% / S −0.0526% | 1h | 0.1365 | +0.105% | $926 | — | 100x | as long as short |
| Kraken Futures PF_DYDXUSDlong | +0.0966% | 1h | 0.1363 | long leg | $307K | $298K | 20x | |
| Coinbase International DYDX-PERP-INTX | +0.0976% | 1h | 0.1369 | +0.407% | $16K | $26K | 50x | as long as short |
| dYdX DYDX-USD | +1.0302% | 1h | 0.1363 | −0.031% | $78K | $2K | 5x | as long as short |
Gate DYDX_USDT
MEXC DYDX_USDT
KuCoin DYDXUSDTM
Bitget DYDXUSDT
BingX DYDX-USDT
Extended DYDX-USD
Aevo DYDX-PERP
GMX DYDX/USD [WBTC.b-USDC]
Coinbase International DYDX-PERP-INTX
dYdX DYDX-USD