Funding you earn now, next payment 08:00 UTC+0.1647%/8h= +180.4% APRnext payment +$2.06 per $10,000 · paid last 24h +0.384%
Price spread now: Kraken Futures against Hyperliquid−0.078%50s7-day average +0.075% · you buy dearer than you sell
Net, funding: paid 7d − costs−$5,722as 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−$5,74957.491% of the position
Funding, last 7 days+0.275%+$28 on $10k
+Price spread, last 4 days (all we have)+0.138%+$14 · spread now −0.078%, 7d avg +0.075%
=Together, before fees+0.413%+ Points / potential airdropHyperliquid: Season 2 · farm board+$41 on $10k · with fees, hour by hour
Funding pays, the price is against you. Kraken Futures is 0.153% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.078% now, against its 7-day average of +0.075%). If the spread goes back, that is −$15 on $10k: about 7 hours of funding at the current rate (+$49 a day). At the pace of the last 7 days (+0.275% in total) that is about 3.9 days. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.275% in total (about 14.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.06 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 | Hyperliquid TRB | 19.100 | 0.0100 | pay 0.0013% / 1h | 19m 30s | $475K | $273K | 3x |
| Short | Kraken Futures PF_TRBUSD | 19.085 | 0.1747 | get 0.0218% / 1h | 19m 30s | $103K | $51K | 10x |
Hyperliquid TRB
Kraken Futures PF_TRBUSDFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $345.9
- Price spread: −0.078% → +0.075%
- −$15.33
- Slippage, 4 orders
- −$5,730.07
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$5,418.5
- Costs to cover
- 57.491%
- Break-even
- 116.7 days
Slippage from Hyperliquid: live order book, 40 min ago; Kraken Futures: live order book, 18 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, 40 min ago | 1.30 bp | 14.8 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 18 min ago | 72.92 bp | 109.9 bp −$110 | doesn't fit | doesn't fit | doesn't fit |
TRB 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 TRB-USDT | +0.0094% | 4h | 19.033 | −0.352% | $354K | $166K | 50x | as long as short |
| Hyperliquid TRBlong | +0.0100% | 1h | 19.100 | long leg | $475K | $273K | 3x | |
| Aster TRBUSDT | +0.0100% | 4h | 19.038 | −0.325% | $6K | $26K | 5x | as long as short |
| Binance TRBUSDT | +0.0100% | 4h | 19.076 | −0.128% | $5.0M | $11.9M | 50x | as long as short |
| Bybit TRBUSDT | +0.0100% | 4h | 19.074 | −0.138% | $6.2M | $2.2M | 50x | as long as short |
| OKX TRB-USDT-SWAP | +0.0100% | 4h | 19.100 | −0.002% | $4.3M | $5.3M | 20x | as long as short |
| Gate TRB_USDT | +0.0100% | 4h | 19.040 | −0.316% | $551K | $2.2M | 50x | as long as short |
| MEXC TRB_USDT | +0.0100% | 4h | 19.078 | −0.117% | $15.6M | $1.1M | 125x | as long as short |
| KuCoin TRBUSDTM | +0.0100% | 4h | 19.065 | −0.185% | $1.2M | $332K | 50x | as long as short |
| Bitget TRBUSDT | +0.0100% | 4h | 19.087 | −0.070% | $1.3M | $1.6M | 50x | as long as short |
BloFin TRB-USDT
Aster TRBUSDT
Binance TRBUSDT
Bybit TRBUSDT
OKX TRB-USDT-SWAP
Gate TRB_USDT
MEXC TRB_USDT
KuCoin TRBUSDTM
Bitget TRBUSDTShow all 13 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX TRB-USDT | +0.0100% | 4h | 19.051 | −0.258% | — | $5.1M | — | as long as short |
| Variational Omni TRB | +0.0100% | 4h | 19.054 | −0.244% | $15K | $16K | — | as long as short |
| Kraken Futures PF_TRBUSDshort | +0.1747% | 1h | 19.085 | −0.078% | $103K | $51K | 10x |
BingX TRB-USDT
Variational Omni TRB