Funding you earn now, next payment 01:00 UTC+0.0423%/8h= +46.3% APRnext payment +$0.53 per $10,000 · paid last 24h +0.102%
Price spread now: Hyperliquid against Kraken Futures+0.163%7-day average +0.118% · you sell dearer than you buy
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$55as in the Price arb table
costs, in and out, $10k−$590.593% of the position
Funding, last 7 days+0.175%+$17 on $10k
+Price spread, last 3 days (all we have)−0.035%−$4 · spread now +0.163%, 7d avg +0.118%
=Together, before fees+0.140%+ Points / potential airdropHyperliquid: Season 2 · farm board+$14 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Hyperliquid is 0.045% dearer against Kraken Futures than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.118%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.175% in total (about 9.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.53 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_SHIBUSD | 0.000006075 | 0.0258 | pay 0.0032% / 1h | 29m 31s | $1.2M | $830K | 50x |
| Short | Hyperliquid kSHIB | 0.000006085 | 0.0681 | get 0.0085% / 1h | 29m 31s | $4.4M | $4.0M | 10x |
Kraken Futures PF_SHIBUSD
Hyperliquid kSHIBFunding 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
- $88.78
- Price spread: +0.163% → +0.118%
- $4.51
- Slippage, 4 orders
- −$40.34
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $33.95
- Costs to cover
- 0.593%
- Break-even
- 4.3 days
Slippage from Kraken Futures: live order book, 4 min ago; Hyperliquid: live order book, 2 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, 4 min ago | 4.10 bp | 14.4 bp −$14 | 27.5 bp −$275 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 2 min ago | 0.82 bp | 10.0 bp −$10 | 19.6 bp −$196 | doesn't fit | doesn't fit |
SHIB on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006072 | −0.053% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006073 | −0.033% | $210K | $2.3M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006070 | −0.084% | $46K | $65K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006070 | −0.087% | $738 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | −0.578% | $248 | $134K | 5.5x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0064% | 1h | 0.000006071 | −0.068% | $78K | $870K | 50x | as long as short |
| BingX 1000SHIB-USDC | +0.0080% | 8h | 0.000006070 | −0.084% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006077 | +0.031% | $240K | $468K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006072 | −0.059% | $37K | $179K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006076 | +0.015% | $12K | $4K | 10x | as long as short |
dYdX SHIB-USD
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
Coinbase International 1000SHIB-PERP-INTX
BingX 1000SHIB-USDC
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIBShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006072 | −0.051% | $29.7M | $98.2M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006073 | −0.035% | $9.3M | $34.6M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006068 | −0.117% | $7.0M | $5.6M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006071 | −0.068% | $31.3M | $16.8M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006072 | −0.051% | $4.9M | $2.6M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006071 | −0.068% | $11.5M | $13.8M | 75x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006070 | −0.084% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006080 | +0.080% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006070 | −0.084% | $523 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006076 | +0.015% | $416K | $598K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006080 | +0.080% | $2.1M | $6.3M | 50x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006070 | −0.081% | $54K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0118% | 8h | 0.000006069 | −0.099% | $7K | — | 20x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −1.236% | $1K | — | 100x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0216% | 1h | 0.000006085 | +0.163% | $23K | $7K | 15x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006081 | +0.097% | $809K | $942K | 50x | as long as short |
| Kraken Futures PF_SHIBUSDlong | +0.0258% | 1h | 0.000006075 | long leg | $1.2M | $830K | 50x | |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006070 | −0.091% | $1 | — | 20x | as long as short |
| Hyperliquid kSHIBshort | +0.0681% | 1h | 0.000006085 | +0.163% | $4.4M | $4.0M | 10x |
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
GMX SHIB/USD [ETH-USDC]
Backpack kSHIB_USDC_PERP
BloFin SHIB-USDT
Reya kSHIBRUSDPERP