Funding you earn now, next payment 23:00 UTC−0.0094%/8h= −10.3% APRnext payment −$0.12 per $10,000 · paid last 24h −0.126%
Price spread now: Backpack against Kraken Futures−0.003%51s7-day average −0.057% · you buy dearer than you sell
Net, funding: paid 7d − costs−$93as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$440.439% of the position
Funding, last 7 days−0.494%−$49 on $10k
+Price spread, last 3 days (all we have)−0.033%−$3 · spread now −0.003%, 7d avg −0.057%
=The price spread pays, funding is against you. Backpack is 0.055% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.003% now, against its 7-day average of −0.057%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 47 hours. At the pace of the last 7 days (−0.494% in total) that is about 19 hours. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_HBARUSD | 0.09247 | 0.0194 | pay 0.0024% / 1h | 8m 15s | $1.4M | $2.2M | 50x |
| Short | Backpack HBAR_USDC_PERP | 0.09247 | 0.0100 | get 0.0013% / 1h | 8m 15s | $34K | $102K | 15x |
Kraken Futures PF_HBARUSD
Backpack HBAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack 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
- −$19.73
- Price spread: −0.003% → −0.057%
- $5.46
- Slippage, 4 orders
- −$23.91
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$58.18
- Costs to cover
- 0.439%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 5 min ago; Backpack: live order book, 10 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, 5 min ago | 3.79 bp | 14.1 bp −$14 | 21.8 bp −$218 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 10 min ago | 1.08 bp | 9.2 bp −$9 | 654.4 bp −$6,544 | doesn't fit | doesn't fit |
HBAR on 28 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 HBAR/USDC PERP | −0.0153% | 1h | 0.09267 | +0.213% | $1K | $112K | 12x | as long as short |
| KuCoin HBARUSDTM | −0.0024% | 8h | 0.09238 | −0.100% | $7.4M | $7.8M | 75x | as long as short |
| dYdX HBAR-USD | 0.0000% | 1h | 0.09249 | +0.021% | $30K | $4K | 5x | as long as short |
| Deribit HBAR_USDC-PERPETUAL | 0.0000% | 1h | 0.09246 | −0.014% | $509K | $166K | 50x | as long as short |
| Gate HBAR_USDT | +0.0002% | 8h | 0.09243 | −0.046% | $2.4M | $3.6M | 75x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0013% | 1h | 0.09245 | −0.022% | $8K | — | 150x | as long as short |
| Coinbase International HBAR-PERP-INTX | +0.0064% | 1h | 0.09244 | −0.035% | $224K | $2.2M | 50x | as long as short |
| Orderly PERP_HBAR_USDC | +0.0077% | 8h | 0.09239 | −0.089% | $2K | $17K | 10x | as long as short |
| Variational Omni HBAR | +0.0088% | 8h | 0.09234 | −0.141% | $1.0M | $198K | — | as long as short |
| Lighter HBAR | +0.0096% | 1h | 0.09239 | −0.089% | $567K | $591K | 5x | as long as short |
Injective HBAR/USDC PERP
KuCoin HBARUSDTM
dYdX HBAR-USD
Deribit HBAR_USDC-PERPETUAL
Gate HBAR_USDT
gTrade (Gains Network) HBAR/USD
Coinbase International HBAR-PERP-INTX
Orderly PERP_HBAR_USDC
Variational Omni HBAR
Lighter HBARShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended HBAR-USD | +0.0096% | 1h | 0.09238 | −0.099% | $51K | $218K | 10x | as long as short |
| MEXC HBAR_USDT | +0.0098% | 8h | 0.09239 | −0.089% | $25.7M | $22.8M | 200x | as long as short |
| Binance HBARUSDT | +0.0099% | 8h | 0.09241 | −0.068% | $34.6M | $110.5M | 75x | as long as short |
| Hyperliquid HBAR | +0.0100% | 1h | 0.09247 | −0.001% | $8.8M | $2.9M | 5x | as long as short |
| Aster HBARUSDT | +0.0100% | 8h | 0.09243 | −0.045% | $211K | $429K | 50x | as long as short |
| Bybit HBARUSDT | +0.0100% | 8h | 0.09237 | −0.111% | $32.9M | $37.0M | 75x | as long as short |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09240 | −0.079% | $6.8M | $25.1M | 50x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09241 | −0.068% | $17.1M | $14.8M | 75x | as long as short |
| BingX HBAR-USDT | +0.0100% | 8h | 0.09239 | −0.089% | — | $5.9M | — | as long as short |
| Backpack HBAR_USDC_PERPshort | +0.0100% | 1h | 0.09247 | −0.003% | $34K | $102K | 15x | |
| GRVT HBAR_USDT_Perp | +0.0100% | 8h | 0.09234 | −0.140% | $376K | $2.1M | 10x | as long as short |
| ApeX Omni HBARUSDT | +0.0100% | 1h | 0.09233 | −0.154% | $148K | $707K | 50x | as long as short |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09240 | −0.079% | $429 | $6K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09267 | +0.213% | $73K | $53K | 20x | as long as short |
| Phemex HBARUSDT | +0.0100% | 8h | 0.09239 | −0.089% | $2.2M | $2.2M | 50x | as long as short |
| Kraken Futures PF_HBARUSDlong | +0.0194% | 1h | 0.09247 | long leg | $1.4M | $2.2M | 50x | |
| BloFin HBAR-USDT | +0.0219% | 8h | 0.09240 | −0.079% | $1.4M | $5.5M | 90x | as long as short |
| GMX HBAR/USD [WBTC.b-USDC] | L +0.0447% / S −0.0339% | 1h | 0.09245 | −0.022% | $116K | — | 100x | as long as short |
Extended HBAR-USD
MEXC HBAR_USDT
Binance HBARUSDT
Hyperliquid HBAR
Aster HBARUSDT
Bybit HBARUSDT
OKX HBAR-USDT-SWAP
Bitget HBARUSDT
BingX HBAR-USDT
GRVT HBAR_USDT_Perp
ApeX Omni HBARUSDT
SoDEX HBAR-USD
HTX HBAR-USDT
Phemex HBARUSDT
BloFin HBAR-USDT
GMX HBAR/USD [WBTC.b-USDC]