INIT

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0091%/8h= +10.0% APRnext payment +$0.11 per $10,000 · paid last 24h +0.819%

Price spread now: Kraken Futures against Hyperliquid+0.093%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Kraken Futures is 0.093% dearer against Hyperliquid than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid INIT	0.08314	0.0100	pay 0.0013% / 1h	11m 05s	$302K	$234K	3x
Short	Kraken Futures PF_INITUSD	0.08322	0.0191	get 0.0024% / 1h	11m 05s	$5K	$17K	10x

Funding 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee Kraken FuturesbpOrdersPrice spread, now +0.093%Rate

Funding earned: $19.09
Price spread: +0.093% → 0.000%: $9.3
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: $9.38
Costs to cover: 0.190%
Break-even: 3.6 days

Slippage unknown: Hyperliquid: live order book, 38 min ago; Kraken Futures: no order-book sample. 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, 38 min ago	6.83 bp	36.2 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

INIT on 13 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
BloFin INIT-USDT	+0.0061%	4h	0.08323	+0.111%	$154K	$113K	25x	as long as short
Hyperliquid INITlong	+0.0100%	1h	0.08314	long leg	$302K	$234K	3x
Aster INITUSDT	+0.0100%	4h	0.08311	−0.032%	$27K	$37K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08318	+0.051%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08314	+0.002%	$1.4M	$1.5M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08310	−0.046%	$137K	$644K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08311	−0.034%	$84K	$55K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08318	+0.051%	$452K	$220K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08309	−0.058%	$331K	$54K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08309	−0.058%	$432K	$303K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08318	+0.051%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08308	−0.068%	$26K	$23K	—	as long as short
Kraken Futures PF_INITUSDshort	+0.0191%	1h	0.08322	+0.093%	$5K	$17K	10x