ETH

Alert

Funding spread now, next payment 17:00 UTC+0.0214%/8h

next payment, per $10,000+$0.27paid, last 24h+0.027%paid, last 7 days−0.014%to open and close $10k−$23

Long on Kraken Futures Short on Hyperliquid

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.014% in total (about -0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.27 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_ETHUSD	2,764.7	0.0262	pay 0.0033% / 1h	26m 01s	$86.8M	$315.3M	100x
Short	Hyperliquid ETH	2,766.9	0.0476	get 0.0060% / 1h	26m 01s	$3.31B	$2.17B	25x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee HyperliquidbpOrdersRate

Funding earned: $45.04
Slippage, 4 orders: −$4.21
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $21.83
Break-even: 3.6 days

Slippage from Kraken Futures: live order book, 5 min ago; Hyperliquid: live order book, 10 min ago.

Price risk

price view

Price gap now: +0.079%
Avg gap 7d: +0.062%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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, 5 min ago	0.18 bp	7.2 bp −$7	8.1 bp −$81	9.8 bp −$976	12.8 bp −$6,420
Sell Hyperliquid live order book, 10 min ago	0.18 bp	4.7 bp −$5	4.7 bp −$47	5.0 bp −$504	6.5 bp −$3,240

ETH on 54 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Perpl ETH	−0.0447%	43m	$421K	$6.2M	8.3x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0054%	1h	$118K	$22.5M	52x	as long as short
Phemex ETHUSDT	−0.0018%	8h	$266.4M	$66.8M	150x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0013% / S +0.0045%	1h	$11.8M	—	200x	as long as short
dYdX ETH-USD	+0.0001%	1h	$16.1M	$34.8M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0003%	1h	$259.5M	$214.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0013%	8h	$1.73B	$11.27B	100x	as long as short
SoDEX ETH-USD	+0.0024%	1h	$55.7M	$162.0M	40x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0028%	8h	—	$1.11B	—	as long as short
Phoenix ETH	+0.0035%	1h	$1.4M	$2.4M	25x	as long as short
01 Exchange ETHUSD	+0.0048%	1h	$181K	$1.2M	50x	as long as short
HTX ETH-USDT	+0.0051%	8h	$1.09B	$1.20B	200x	as long as short
Bulk ETH-USD	+0.0063%	1h	$157.8M	$272.8M	25x	as long as short
MEXC ETH_USDT	+0.0076%	8h	$1.53B	$2.48B	500x	as long as short
Binance ETHUSDT	+0.0076%	8h	$6.57B	$15.99B	150x	as long as short
SunX ETH-USDT	+0.0079%	8h	$952K	$14.6M	100x	as long as short
Bitget ETHUSDT	+0.0079%	8h	$2.10B	$3.15B	150x	as long as short
Aevo ETH-PERP	+0.0080%	1h	$5.0M	$723K	20x	as long as short
ApeX Omni ETHUSDT	+0.0090%	1h	$8.0M	$28.0M	100x	as long as short
Lighter ETH	+0.0096%	1h	$117.0M	$499.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	$25.5M	$118.1M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	—	$44.7M	500x	as long as short
Hibachi ETH/USDT-P	+0.0096%	1h	$291K	$1.3M	20x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	$15.0M	$11.7M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	$467K	$2.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	$17.8M	$111.6M	50x	as long as short
Aster ETHUSDT	+0.0100%	8h	$276.3M	$888.9M	200x	as long as short
Pacifica ETH	+0.0100%	1h	$31.4M	$221.5M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	$2.53B	$4.47B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	$3.0M	$15.0M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	$2.7M	$16.1M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	$3.47B	$8.90B	200x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	$400.9M	$690.0M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	$15.3M	$39.4M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	$145.4M	$312.0M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	$179.1M	$765.5M	100x	as long as short
StandX ETH-USD	+0.0100%	1h	$21.2M	$51.0M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	$10.8M	$5.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	$200K	$1.8M	20x	as long as short
Derive ETH-PERP	+0.0100%	1h	$42.8M	$29.7M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	$31.8M	$78.3M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0120%	1h	$60.1M	$4.74B	50x	as long as short
RISEx ETH/USDC	+0.0122%	1h	$5.8M	$13.0M	25x	as long as short
Kalshi KXETHPERP	+0.0131%	8h	$10.2M	$562.4M	4.9x	as long as short
Reya ETHRUSDPERP	+0.0173%	1h	$7.4M	$964K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0188%	8h	$32.4M	$10.9M	100x	as long as short
BloFin ETH-USDT	+0.0196%	8h	$291.8M	$177.0M	150x	as long as short
Kraken Futures PF_ETHUSDlong	+0.0262%	1h	$86.8M	$315.3M	100x
Aftermath Perps ETHUSD	+0.0294%	1h	$29K	$22K	20x	as long as short
Hyperliquid ETHshort	+0.0476%	1h	$3.31B	$2.17B	25x
Bluefin ETH-PERP	+0.2746%	1h	$21K	$26K	25x	as long as short