Funding you earn now, next payment 06:00 UTC−0.0527%/8h= −57.7% APRnext payment −$0.66 per $10,000 · paid last 24h −0.140%
Price spread now: Hyperliquid against Kraken Futures−0.007%7-day average −0.078% · you buy dearer than you sell
Net, funding: paid 7d − costs−$98as in the Funding arb table
Net, price: spread back to 7d avg − costs−$104as in the Price arb table
costs, in and out, $10k−$1111.113% of the position
Funding, last 7 days+0.135%+$13 on $10k
+Price spread, last 4 days (all we have)−0.184%−$18 · spread now −0.007%, 7d avg −0.078%
=Together, before fees−0.050%+ Points / potential airdropHyperliquid: Season 2 · farm board−$5 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.070% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.007% now, against its 7-day average of −0.078%): +$7 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 11 hours. Mind the row above: over the last 7 days funding on this pair paid +0.135%, 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 0.135% in total (about 7.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.66 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_GALAUSD | 0.002043 | 0.0627 | pay 0.0078% / 1h | 30m 46s | $654K | $211K | 25x |
| Short | Hyperliquid GALA | 0.002043 | 0.0100 | get 0.0013% / 1h | 30m 46s | $299K | $157K | 3x |
Kraken Futures PF_GALAUSD
Hyperliquid GALAFunding 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
- −$110.75
- Price spread: −0.007% → −0.078%
- $7.05
- Slippage, 4 orders
- −$92.26
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$214.97
- Costs to cover
- 1.113%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 17 min ago; Hyperliquid: live order book, 39 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, 17 min ago | 9.64 bp | 35.8 bp −$36 | 113.5 bp −$1,135 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 39 min ago | 4.82 bp | 24.1 bp −$24 | doesn't fit | doesn't fit | doesn't fit |
GALA on 15 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 GALA/USDC PERP | +0.0033% | 1h | 0.002110 | +3.272% | $2K | $7K | 5.5x | as long as short |
| KuCoin GALAUSDTM | +0.0068% | 8h | 0.002041 | −0.105% | $1.7M | $4.9M | 75x | as long as short |
| BloFin GALA-USDT | +0.0070% | 8h | 0.002047 | +0.189% | $301K | $65K | 20x | as long as short |
| Hyperliquid GALAshort | +0.0100% | 1h | 0.002043 | −0.007% | $299K | $157K | 3x | |
| Aster GALAUSDT | +0.0100% | 8h | 0.002042 | −0.038% | $17K | $7K | 5x | as long as short |
| Binance GALAUSDT | +0.0100% | 8h | 0.002042 | −0.060% | $5.3M | $17.3M | 75x | as long as short |
| Bybit GALAUSDT | +0.0100% | 8h | 0.002041 | −0.105% | $5.9M | $6.1M | 75x | as long as short |
| OKX GALA-USDT-SWAP | +0.0100% | 8h | 0.002041 | −0.105% | $2.1M | $4.0M | 50x | as long as short |
| Gate GALA_USDT | +0.0100% | 8h | 0.002044 | +0.042% | $1.7M | $1.5M | 75x | as long as short |
| MEXC GALA_USDT | +0.0100% | 8h | 0.002041 | −0.105% | $5.2M | $3.4M | 125x | as long as short |
Injective GALA/USDC PERP
KuCoin GALAUSDTM
BloFin GALA-USDT
Aster GALAUSDT
Binance GALAUSDT
Bybit GALAUSDT
OKX GALA-USDT-SWAP
Gate GALA_USDT
MEXC GALA_USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget GALAUSDT | +0.0100% | 8h | 0.002042 | −0.056% | $2.1M | $1.3M | 75x | as long as short |
| BingX GALA-USDT | +0.0100% | 8h | 0.002043 | −0.007% | — | $11.0M | — | as long as short |
| Variational Omni GALA | +0.0100% | 8h | 0.002041 | −0.096% | $25K | $15K | — | as long as short |
| Extended GALA-USD | +0.0104% | 1h | 0.002041 | −0.100% | $4K | $83K | 5x | as long as short |
| Kraken Futures PF_GALAUSDlong | +0.0627% | 1h | 0.002043 | long leg | $654K | $211K | 25x |
Bitget GALAUSDT
BingX GALA-USDT
Variational Omni GALA
Extended GALA-USD