TIA

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0107%/8h= −11.7% APRnext payment −$0.13 per $10,000 · paid last 24h −0.042%

Price spread now: Kraken Futures against Hyperliquid−0.101%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$810.808% of the position

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.342%+$34 on $10k

Price spread, last 4 days (all we have)+0.266%+$27 · spread now −0.101%, 7d avg −0.033%

Together, before fees+0.608%+ Points / potential airdropHyperliquid: Season 2 · farm board+$61 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kraken Futures is 0.068% cheaper against Hyperliquid than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.033%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.342%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TIA	0.4452	0.0100	pay 0.0013% / 1h	8m 02s	$4.8M	$1.5M	5x
Short	Kraken Futures PF_TIAUSD	0.4448	−0.0007	pay 0.0001% / 1h	8m 02s	$348K	$208K	50x

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 −0.101%Rate

Funding earned: −$22.42
Price spread: −0.101% → −0.033%: −$6.79
Slippage, 4 orders: −$61.82
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$110.03
Costs to cover: 0.808%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Kraken Futures: live order book, 30 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 Hyperliquid live order book, 4 min ago	1.01 bp	14.8 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 30 min ago	19.22 bp	32.8 bp −$33	82.4 bp −$824	doesn't fit	doesn't fit

TIA on 27 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
GMX TIA/USD [ETH-USDC]	L −0.1259% / S +0.0089%	1h	0.4448	−0.092%	$5K	—	100x	as long as short
ApeX Omni TIAUSDT	−0.0056%	1h	0.4438	−0.323%	$51K	$224K	50x	as long as short
Kraken Futures PF_TIAUSDshort	−0.0007%	1h	0.4448	−0.101%	$348K	$208K	50x
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4448	−0.099%	$31K	$25K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4449	−0.073%	$1K	—	150x	as long as short
Injective TIA/USDC PERP	+0.0014%	1h	0.4449	−0.076%	$24K	$12K	12x	as long as short
OKX TIA-USDT-SWAP	+0.0044%	4h	0.4443	−0.211%	$2.8M	$6.8M	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4451	−0.040%	$156K	$428K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0099%	4h	0.4448	−0.099%	$7K	$230K	10x	as long as short
Hyperliquid TIAlong	+0.0100%	1h	0.4452	long leg	$4.8M	$1.5M	5x

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TIAUSDT	+0.0100%	4h	0.4446	−0.155%	$33K	$247K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4446	−0.144%	$14.1M	$48.2M	75x	as long as short
Bybit TIAUSDT	+0.0100%	4h	0.4445	−0.166%	$10.2M	$14.0M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4448	−0.099%	$1.0M	$1.9M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4446	−0.144%	$12.4M	$14.1M	300x	as long as short
KuCoin TIAUSDTM	+0.0100%	4h	0.4446	−0.144%	$4.2M	$10.0M	50x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4443	−0.211%	$4.4M	$4.1M	75x	as long as short
BingX TIA-USDC	+0.0100%	4h	0.4445	−0.166%	—	$6.5M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4447	−0.112%	$103K	$174K	10x	as long as short
Variational Omni TIA	+0.0100%	4h	0.4435	−0.392%	$136K	$78K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4450	−0.054%	$60K	$75K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4443	−0.200%	$57K	$211K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4446	−0.133%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0182%	1h	0.4444	−0.188%	$6K	—	15x	as long as short
dYdX TIA-USD	+0.0237%	1h	0.4450	−0.045%	$53K	$139	10x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4448	−0.099%	$1.7M	$718K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0432%	1h	0.4459	+0.148%	$52K	$104K	50x	as long as short