XMR

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0370%/8h= −40.6% APRnext payment −$0.46 per $10,000 · paid last 24h −0.062%

Price spread now: Kraken Futures against Hyperliquid−0.200%7-day average −0.150% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$680.679% 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+0.074%+$7 on $10k

Price spread, last 4 days (all we have)+0.122%+$12 · spread now −0.200%, 7d avg −0.150%

Together, before fees+0.196%+ Points / potential airdropHyperliquid: Season 2 · farm board+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Kraken Futures is 0.050% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.150%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.074%, so the current rate has only just turned against you.

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 −$0.46 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 XMR	573.40	0.1119	pay 0.0140% / 1h	27m 52s	$86.4M	$71.0M	5x
Short	Kraken Futures PF_XMRUSD	572.26	0.0748	get 0.0094% / 1h	27m 52s	$5.4M	$19.1M	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 −0.200%Rate

Funding earned: −$77.8
Price spread: −0.200% → −0.150%: −$5.01
Slippage, 4 orders: −$48.88
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$150.69
Costs to cover: 0.679%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 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, 6 min ago	1.05 bp	12.0 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	15.62 bp	24.7 bp −$25	46.3 bp −$463	127.3 bp −$12.7K	doesn't fit

XMR 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
gTrade (Gains Network) XMR/USD	L +0.0010% / S −0.0003%	1h	572.59	−0.141%	$37K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.596%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	572.10	−0.227%	$1.0M	$644K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	572.90	−0.087%	$2K	$1.8M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	572.95	−0.078%	$1.1M	$1.5M	20x	as long as short
Aevo XMR-PERP	+0.0232%	1h	573.73	+0.058%	$12K	—	3x	as long as short
KuCoin XMRUSDTM	+0.0323%	8h	572.67	−0.127%	$44.9M	$26.2M	50x	as long as short
dYdX XMR-USD	+0.0421%	1h	572.70	−0.122%	$104K	$44K	5x	as long as short
Bitget XMRUSDT	+0.0577%	8h	573.51	+0.019%	$9.4M	$13.3M	50x	as long as short
MEXC XMR_USDT	+0.0616%	8h	573.32	−0.014%	$19.8M	$14.6M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance XMRUSDT	+0.0618%	8h	573.32	−0.014%	$52.5M	$161.0M	75x	as long as short
Gate XMR_USDT	+0.0640%	8h	573.08	−0.056%	$1.5M	$4.3M	50x	as long as short
BingX XMR-USDT	+0.0679%	8h	573.38	−0.003%	—	$5.6M	—	as long as short
Polymarket Perps XMR-USD	+0.0686%	1h	573.45	+0.009%	$27K	$2.2M	5x	as long as short
Bybit XMRUSDT	+0.0710%	8h	573.34	−0.010%	$46.4M	$64.1M	75x	as long as short
Extended XMR-USD	+0.0720%	1h	573.13	−0.047%	$3.0M	$8.2M	25x	as long as short
Kraken Futures PF_XMRUSDshort	+0.0748%	1h	572.26	−0.200%	$5.4M	$19.1M	50x
Aster XMRUSDT	+0.0769%	8h	573.85	+0.079%	$643K	$2.2M	75x	as long as short
Lighter XMR	+0.0896%	1h	573.34	−0.011%	$3.1M	$7.6M	10x	as long as short
Paradex XMR-USD-PERP	+0.0911%	8h	573.37	−0.004%	$8K	$4K	20x	as long as short
Pacifica XMR	+0.0912%	1h	573.84	+0.077%	$265K	$1.0M	10x	as long as short
GRVT XMR_USDT_Perp	+0.1006%	8h	573.02	−0.067%	$345K	$727K	10x	as long as short
BloFin XMR-USDT	+0.1012%	8h	573.19	−0.037%	$2.7M	$11.2M	75x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1073% / S −0.1427%	1h	572.36	−0.181%	$593K	—	100x	as long as short
Hyperliquid XMRlong	+0.1119%	1h	573.40	long leg	$86.4M	$71.0M	5x
Orderly PERP_XMR_USDC	+0.1188%	8h	573.12	−0.049%	$40K	$695K	10x	as long as short
Variational Omni XMR	+0.1189%	8h	572.35	−0.183%	$6.3M	$2.3M	—	as long as short
SoDEX XMR-USD	+0.1285%	1h	573.29	−0.019%	$436K	$3K	5x	as long as short
Nado XMR-PERP	+0.1291%	1h	573.40	0.000%	$1.3M	$452K	10x	as long as short
Backpack XMR_USDC_PERP	+0.1386%	1h	573.04	−0.063%	$168K	$532K	20x	as long as short
Aftermath Perps XMRUSD	+0.2075%	1h	572.59	−0.142%	$1K	$43K	10x	as long as short