Funding you earn now, next payment 22:00 UTC−0.0313%/8h= −34.3% APRnext payment −$0.39 per $10,000 · paid last 24h −0.131%
Price spread now: Kraken Futures against Hyperliquid+0.153%7-day average −0.071% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.193%+$19 on $10k
+Price spread, last 3 days (all we have)−0.137%−$14 · spread now +0.153%, 7d avg −0.071%
=Together, before fees+0.056%+ Points / potential airdropHyperliquid: Season 2 · farm board+$6 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kraken Futures is 0.224% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.153% now, against its 7-day average of −0.071%): +$22 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 2.4 days. Mind the row above: over the last 7 days funding on this pair paid +0.193%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.193% in total (about 10.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.39 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 ETHFI | 0.7142 | 0.0100 | pay 0.0013% / 1h | 9m 49s | $18.1M | $8.9M | 5x |
| Short | Kraken Futures PF_ETHFIUSD | 0.7153 | −0.0213 | pay 0.0027% / 1h | 9m 49s | $281K | $145K | 20x |
Hyperliquid ETHFI
Kraken Futures PF_ETHFIUSDFunding 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
- −$65.82
- Price spread: +0.153% → −0.071%
- $22.42
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$62.4
- Costs to cover
- 0.190%
- Break-even
- from the start
Slippage unknown: Hyperliquid: live order book, 3 min ago; Kraken Futures: live order book, 13 min ago. Net counts fees only.
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, 3 min ago | 0.77 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 13 min ago | 16.06 bp | 36.3 bp −$36 | 139.5 bp −$1,395 | doesn't fit | doesn't fit |
ETHFI on 24 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit ETHFI_USDC-PERPETUAL | −0.0589% | 1h | 0.7145 | +0.045% | $42K | $18K | 10x | as long as short |
| HTX ETHFI-USDT | −0.0254% | 4h | 0.7128 | −0.193% | $83K | $165K | 20x | as long as short |
| Kraken Futures PF_ETHFIUSDshort | −0.0213% | 1h | 0.7153 | +0.153% | $281K | $145K | 20x | |
| Orderly PERP_ETHFI_USDC | −0.0172% | 4h | 0.7140 | −0.025% | $16K | $1K | 10x | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +1.375% | $321 | $51K | 5.5x | as long as short |
| Paradex ETHFI-USD-PERP | +0.0041% | 8h | 0.7140 | −0.019% | $6K | — | 5x | as long as short |
| Bitget ETHFIUSDT | +0.0044% | 4h | 0.7132 | −0.137% | $6.1M | $5.6M | 75x | as long as short |
| Binance ETHFIUSDT | +0.0086% | 4h | 0.7132 | −0.137% | $24.8M | $37.0M | 75x | as long as short |
| Extended ETHFI-USD | +0.0088% | 1h | 0.7134 | −0.104% | $92K | $495K | 10x | as long as short |
| MEXC ETHFI_USDT | +0.0088% | 4h | 0.7134 | −0.109% | $15.1M | $3.9M | 125x | as long as short |
Deribit ETHFI_USDC-PERPETUAL
HTX ETHFI-USDT
Orderly PERP_ETHFI_USDC
Injective ETHFI/USDC PERP
Paradex ETHFI-USD-PERP
Bitget ETHFIUSDT
Binance ETHFIUSDT
Extended ETHFI-USD
MEXC ETHFI_USDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter ETHFI | +0.0096% | 1h | 0.7146 | +0.064% | $1.1M | $909K | 5x | as long as short |
| Hyperliquid ETHFIlong | +0.0100% | 1h | 0.7142 | long leg | $18.1M | $8.9M | 5x | |
| Aster ETHFIUSDT | +0.0100% | 4h | 0.7146 | +0.064% | $183K | $255K | 10x | as long as short |
| Bybit ETHFIUSDT | +0.0100% | 4h | 0.7143 | +0.017% | $18.3M | $12.8M | 25x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.7140 | −0.025% | $4.9M | $12.4M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.7140 | −0.025% | $1.7M | $2.1M | 75x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.7138 | −0.053% | $1.2M | $270K | 50x | as long as short |
| BingX ETHFI-USDC | +0.0100% | 4h | 0.7140 | −0.025% | — | $1.2M | — | as long as short |
| Variational Omni ETHFI | +0.0100% | 4h | 0.7143 | +0.021% | $1.0M | $729K | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.7146 | +0.059% | $60K | $85K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.7149 | +0.101% | $2K | $1.1M | 20x | as long as short |
| Aevo ETHFI-PERP | +0.0104% | 1h | 0.7140 | −0.027% | $9K | — | 3x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0152% | 1h | 0.7165 | +0.325% | $31K | $9K | 50x | as long as short |
| BloFin ETHFI-USDT | +0.0329% | 4h | 0.7129 | −0.179% | $1.3M | $293K | 75x | as long as short |
Lighter ETHFI
Aster ETHFIUSDT
Bybit ETHFIUSDT
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
KuCoin ETHFIUSDTM
BingX ETHFI-USDC
Variational Omni ETHFI
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
Aevo ETHFI-PERP
Coinbase International ETHFI-PERP-INTX
BloFin ETHFI-USDT