FET

Alert

Funding spread now, next payment 16:00 UTC+0.0690%/8h

next payment, per $10,000+$0.86paid, last 24h−0.084%paid, last 7 days−0.107%to open and close $10k−$67

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 -0.107% in total (about -5.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.86 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_FETUSD	0.2027	0.0038	pay 0.0005% / 1h	56m 07s	$1.0M	$2.6M	50x
Short	Hyperliquid FET	0.2029	0.0728	get 0.0091% / 1h	56m 07s	$10.0M	$6.4M	5x

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: $144.9
Slippage, 4 orders: −$48
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $77.91
Break-even: 3.2 days

Slippage from Kraken Futures: live order book, 4 min ago; Hyperliquid: live order book, 8 min ago.

Price risk

price view

Price gap now: +0.077%
Avg gap 7d: +0.008%

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, 4 min ago	13.83 bp	19.3 bp −$19	50.1 bp −$501	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	2.21 bp	11.0 bp −$11	doesn't fit	doesn't fit	doesn't fit

FET on 20 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Deribit FET_USDC-PERPETUAL	−0.2214%	1h	$18K	$156K	10x	as long as short
Gate FET_USDT	−0.0031%	8h	$2.8M	$10.6M	50x	as long as short
gTrade (Gains Network) FET/USD	L +0.0005% / S −0.0008%	1h	$40K	—	150x	as long as short
Injective FET/USDC PERP	+0.0033%	1h	$2K	$65K	12x	as long as short
Kraken Futures PF_FETUSDlong	+0.0038%	1h	$1.0M	$2.6M	50x
Orderly PERP_FET_USDC	+0.0077%	8h	$37K	$40K	10x	as long as short
Aster FETUSDT	+0.0100%	8h	$298K	$443K	10x	as long as short
Binance FETUSDT	+0.0100%	8h	$32.0M	$101.3M	75x	as long as short
OKX FET-USDT-SWAP	+0.0100%	4h	$882K	$7.0M	20x	as long as short
MEXC FET_USDT	+0.0100%	8h	$34.8M	$19.3M	200x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
KuCoin FETUSDTM	+0.0100%	8h	$10.5M	$14.3M	50x	as long as short
Bitget FETUSDT	+0.0100%	8h	$16.5M	$11.0M	75x	as long as short
BingX FET-USDT	+0.0100%	8h	—	$4.8M	—	as long as short
Variational Omni FET	+0.0100%	8h	$286K	$237K	—	as long as short
Extended FET-USD	+0.0104%	1h	$30K	$147K	10x	as long as short
GMX FET/USD [ETH-USDC]	L +0.0206% / S −0.0362%	1h	$14K	—	100x	as long as short
BloFin FET-USDT	+0.0220%	8h	$1.7M	$2.5M	100x	as long as short
Coinbase International FET-PERP-INTX	+0.0288%	1h	$187K	$189K	50x	as long as short
Phoenix FET	+0.0386%	1h	$27K	$52K	5x	as long as short
Hyperliquid FETshort	+0.0728%	1h	$10.0M	$6.4M	5x