Funding you earn now, next payment 02:00 UTC+0.0423%/8h= +46.4% APRnext payment +$0.53 per $10,000 · paid last 24h +0.007%
Price spread now: Kraken Futures against Hyperliquid+0.005%7-day average −0.011% · you sell dearer than you buy
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$320.321% of the position
Funding, last 7 days−0.074%−$7 on $10k
+Price spread, last 3 days (all we have)−0.010%−$1 · spread now +0.005%, 7d avg −0.011%
=Together, before fees−0.084%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.011%, so right now this pair is about funding alone: +$13 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.074%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.074% in total (about -3.9% 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 | Hyperliquid TRX | 0.3477 | 0.0100 | pay 0.0013% / 1h | 22m 13s | $13.0M | $2.5M | 10x |
| Short | Kraken Futures PF_TRXUSD | 0.3477 | 0.0523 | get 0.0065% / 1h | 22m 13s | $2.3M | $1.6M | 25x |
Hyperliquid TRX
Kraken Futures PF_TRXUSDFunding 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
- $88.91
- Price spread: +0.005% → −0.011%
- $1.57
- Slippage, 4 orders
- −$13.14
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $58.33
- Costs to cover
- 0.321%
- Break-even
- 2.4 days
Slippage from Hyperliquid: live order book, 10 min ago; Kraken Futures: live order book, 1 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, 10 min ago | 0.43 bp | 7.0 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 1 min ago | 3.17 bp | 8.2 bp −$8 | 18.7 bp −$187 | doesn't fit | doesn't fit |
TRX on 31 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3475 | −0.048% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0046% | 1h | 0.3471 | −0.167% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3476 | −0.018% | $183K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3476 | −0.022% | $122K | — | 150x | as long as short |
| KuCoin TRXUSDTM | +0.0009% | 8h | 0.3476 | −0.017% | $8.7M | $3.5M | 75x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.035% | $1K | $163K | 12x | as long as short |
| Backpack TRX_USDC_PERP | +0.0063% | 1h | 0.3471 | −0.170% | $59K | $4K | 10x | as long as short |
| Orderly PERP_TRX_USDC | +0.0094% | 8h | 0.3476 | −0.040% | $14K | $122K | 20x | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3476 | −0.043% | $485K | $663K | 10x | as long as short |
| Paradex TRX-USD-PERP | +0.0097% | 8h | 0.3475 | −0.049% | $9K | $251 | 20x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
KuCoin TRXUSDTM
Injective TRX/USDC PERP
Backpack TRX_USDC_PERP
Orderly PERP_TRX_USDC
Lighter TRX
Paradex TRX-USD-PERPShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid TRXlong | +0.0100% | 1h | 0.3477 | long leg | $13.0M | $2.5M | 10x | |
| Aster TRXUSDT | +0.0100% | 8h | 0.3476 | −0.029% | $960K | $671K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3476 | −0.039% | $103.2M | $52.8M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3476 | −0.023% | $54.7M | $10.0M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3476 | −0.032% | $15.6M | $9.0M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3476 | −0.020% | $9.7M | $2.7M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3475 | −0.049% | $18.6M | $2.0M | 200x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3476 | −0.017% | $10.4M | $3.2M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3476 | −0.026% | — | $6.5M | — | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3471 | −0.175% | $566K | $36K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3468 | −0.249% | $592K | $448K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3472 | −0.138% | $115K | $562K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3473 | −0.128% | $197K | $1.0M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3476 | −0.043% | $404 | $5K | 5x | as long as short |
| HTX TRX-USDT | +0.0100% | 8h | 0.3475 | −0.051% | $835K | $806K | 75x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3475 | −0.052% | $3.9M | $1.7M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3475 | −0.045% | $194K | $1.0M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3475 | −0.071% | $34K | — | 3x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0403% / S −0.0481% | 1h | 0.3476 | −0.032% | $20K | — | 100x | as long as short |
| Kraken Futures PF_TRXUSDshort | +0.0523% | 1h | 0.3477 | +0.005% | $2.3M | $1.6M | 25x | |
| Deribit TRX_USDC-PERPETUAL | +0.0573% | 1h | 0.3479 | +0.069% | $804K | $467K | 25x | as long as short |
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
Bitget TRXUSDT
BingX TRX-USDC
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
HTX TRX-USDT
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL