Funding you earn now, next payment 06:00 UTC−0.0209%/8h= −22.9% APRnext payment −$0.26 per $10,000 · paid last 24h −0.062%
Price spread now: Hyperliquid against Kraken Futures+0.165%7-day average +0.003% · you sell dearer than you buy
Net, funding: paid 7d − costs−$261as in the Funding arb table
Net, price: spread back to 7d avg − costs−$97as in the Price arb table
costs, in and out, $10k−$1131.129% of the position
Funding, last 7 days−1.479%−$148 on $10k
+Price spread, last 4 days (all we have)−0.633%−$63 · spread now +0.165%, 7d avg +0.003%
=Together, before fees−2.112%+ Points / potential airdropHyperliquid: Season 2 · farm board−$211 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.162% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.165% now, against its 7-day average of +0.003%): +$16 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.6 days. At the pace of the last 7 days (−1.479% in total) that is about 18 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_KASUSD | 0.04288 | 0.0379 | pay 0.0047% / 1h | 33m 56s | $302K | $506K | 20x |
| Short | Hyperliquid KAS | 0.04295 | 0.0170 | get 0.0021% / 1h | 33m 56s | $2.8M | $1.1M | 3x |
Kraken Futures PF_KASUSD
Hyperliquid KASFunding 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
- −$43.89
- Price spread: +0.165% → +0.003%
- $16.21
- Slippage, 4 orders
- −$93.94
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$140.62
- Costs to cover
- 1.129%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 14 min ago; Hyperliquid: live order book, 7 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, 14 min ago | 9.22 bp | 36.0 bp −$36 | 259.2 bp −$2,592 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 7 min ago | 2.20 bp | 21.3 bp −$21 | doesn't fit | doesn't fit | doesn't fit |
KAS 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) KAS/USD | L +0.0010% / S −0.0001% | 1h | 0.04288 | −0.007% | $4K | — | 150x | as long as short |
| Injective KAS/USDC PERP | +0.0033% | 1h | 0.04361 | +1.695% | $45 | $154K | 5.5x | as long as short |
| Aster KASUSDT | +0.0100% | 4h | 0.04296 | +0.188% | $253K | $146K | 20x | as long as short |
| Binance KASUSDT | +0.0100% | 4h | 0.04290 | +0.049% | $4.1M | $12.9M | 75x | as long as short |
| Bybit KASUSDT | +0.0100% | 4h | 0.04286 | −0.054% | $10.7M | $7.8M | 50x | as long as short |
| Gate KAS_USDT | +0.0100% | 8h | 0.04286 | −0.054% | $2.1M | $1.8M | 75x | as long as short |
| MEXC KAS_USDT | +0.0100% | 4h | 0.04292 | +0.086% | $28.9M | $4.9M | 200x | as long as short |
| KuCoin KASUSDTM | +0.0100% | 4h | 0.04290 | +0.037% | $4.2M | $7.4M | 50x | as long as short |
| Bitget KASUSDT | +0.0100% | 4h | 0.04284 | −0.100% | $11.8M | $3.2M | 50x | as long as short |
| BingX KAS-USDT | +0.0100% | 4h | 0.04287 | −0.030% | — | $67.7M | — | as long as short |
gTrade (Gains Network) KAS/USD
Injective KAS/USDC PERP
Aster KASUSDT
Binance KASUSDT
Bybit KASUSDT
Gate KAS_USDT
MEXC KAS_USDT
KuCoin KASUSDTM
Bitget KASUSDT
BingX KAS-USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni KAS | +0.0100% | 4h | 0.04299 | +0.245% | $23K | $24K | — | as long as short |
| Hyperliquid KASshort | +0.0170% | 1h | 0.04295 | +0.165% | $2.8M | $1.1M | 3x | |
| GMX KAS/USD [WBTC.b-USDC] | L +0.0283% / S −0.1996% | 1h | 0.04290 | +0.037% | $11K | — | 100x | as long as short |
| BloFin KAS-USDT | +0.0340% | 4h | 0.04312 | +0.553% | $374K | $294K | 75x | as long as short |
| Kraken Futures PF_KASUSDlong | +0.0379% | 1h | 0.04288 | long leg | $302K | $506K | 20x |
Variational Omni KAS
GMX KAS/USD [WBTC.b-USDC]
BloFin KAS-USDT