Funding you earn now, next payment 00:00 UTC+0.0325%/8h= +35.6% APRnext payment +$0.41 per $10,000 · paid last 24h +0.086%
Price spread now: Hyperliquid against Kraken Futures−0.045%50s7-day average −0.017% · you buy dearer than you sell
Net, funding: paid 7d − costs+$23as 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−$290.285% of the position
Funding, last 7 days+0.516%+$52 on $10k
+Price spread, last 3 days (all we have)−0.471%−$47 · spread now −0.045%, 7d avg −0.017%
=Together, before fees+0.044%+ Points / potential airdropHyperliquid: Season 2 · farm board+$4 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.028% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.045% now, against its 7-day average of −0.017%). If the spread goes back, that is −$3 on $10k: about 7 hours of funding at the current rate (+$10 a day). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ZECUSD | 1,471.2 | −0.0225 | get 0.0028% / 1h | 25m 20s | $17.9M | $44.3M | 25x |
| Short | Hyperliquid ZEC | 1,470.5 | 0.0100 | get 0.0013% / 1h | 25m 20s | $762.3M | $474.5M | 10x |
Kraken Futures PF_ZECUSD
Hyperliquid ZECFunding 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
- $68.24
- Price spread: −0.045% → −0.017%
- −$2.84
- Slippage, 4 orders
- −$9.55
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $36.86
- Costs to cover
- 0.285%
- Break-even
- 3.2 days
Slippage from Kraken Futures: live order book, 4 min ago; Hyperliquid: live order book, 9 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 | 1.46 bp | 8.8 bp −$9 | 11.8 bp −$118 | 18.7 bp −$1,868 | 109.1 bp −$54.5K |
| Sell Hyperliquid live order book, 9 min ago | 0.34 bp | 5.0 bp −$5 | 7.4 bp −$74 | doesn't fit | doesn't fit |
ZEC on 51 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ZEC/USDC PERP | −0.3089% | 1h | 1,472.9 | +0.120% | $34K | $275K | 12x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0269% | 1h | 1,468.3 | −0.195% | $399K | $515K | 5x | as long as short |
| Kraken Futures PF_ZECUSDlong | −0.0225% | 1h | 1,471.2 | long leg | $17.9M | $44.3M | 25x | |
| Bybit ZECUSDT | −0.0115% | 8h | 1,469.3 | −0.124% | $274.8M | $653.0M | 75x | as long as short |
| BloFin ZEC-USDT | −0.0102% | 8h | 1,472.2 | +0.070% | $29.8M | $75.2M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,469.8 | −0.096% | $6K | $2K | 10x | as long as short |
| Variational Omni ZEC | −0.0060% | 8h | 1,471.8 | +0.040% | $46.8M | $33.9M | — | as long as short |
| ApeX Omni ZECUSDT | −0.0006% | 1h | 1,470.3 | −0.062% | $431K | $842K | 50x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,468.8 | −0.161% | $414K | $104K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,472.5 | +0.092% | $903K | $5.6M | 2.2x | as long as short |
Injective ZEC/USDC PERP
Ondo Perps ZEC-USD.P
Bybit ZECUSDT
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Variational Omni ZEC
ApeX Omni ZECUSDT
dYdX ZEC-USD
Kalshi KXZECPERPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Perpl ZEC | 0.0000% | 43m | 1,469.4 | −0.118% | $83K | $404K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,470.1 | −0.070% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0013% | 8h | 1,470.5 | −0.049% | $295K | $1.4M | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0016% | 1h | 1,469.9 | −0.088% | $8K | $8K | 5x | as long as short |
| Phoenix ZEC | +0.0024% | 1h | 1,470.8 | −0.027% | $4.6M | $1.6M | 10x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0039% | 8h | 1,470.4 | −0.055% | $180.7M | $1.34B | 50x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0042% | 1h | 1,472.1 | +0.061% | $614K | $1.3M | 25x | as long as short |
| Gate ZEC_USDT | +0.0043% | 8h | 1,470 | −0.081% | $50.6M | $186.7M | 75x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0055% / S −0.0010% | 1h | 1,470.1 | −0.071% | $371K | — | 100x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,470.4 | −0.050% | $19.1M | $52.4M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,469.5 | −0.116% | $175K | $1.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0097% | 8h | 1,468.5 | −0.183% | $13K | $834K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,468.7 | −0.165% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,469.7 | −0.097% | $2.6M | $6.8M | 10x | as long as short |
| Hyperliquid ZECshort | +0.0100% | 1h | 1,470.5 | −0.045% | $762.3M | $474.5M | 10x | |
| Aster ZECUSDT | +0.0100% | 8h | 1,469.8 | −0.095% | $14.9M | $32.7M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,469.5 | −0.111% | $1.7M | $2.9M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,469.9 | −0.089% | $683.7M | $2.46B | 75x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,470.8 | −0.023% | $701K | $8.4M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,469.8 | −0.096% | $894K | $39K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,469.8 | −0.094% | $231.2M | $839.1M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,470 | −0.078% | $103.5M | $56.0M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,470.3 | −0.060% | $162.9M | $301.2M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,469.7 | −0.099% | — | $102.4M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,470.6 | −0.039% | $513K | $9.2M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,473.2 | +0.136% | $3.0M | $454K | 10x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,471.9 | +0.049% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,469.5 | −0.113% | $343K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,469.7 | −0.100% | $128K | $159K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,469.7 | −0.101% | $448K | $498K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,473.3 | +0.144% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,471.1 | −0.007% | $238K | $4.4M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,471 | −0.011% | $2.5M | $23.1M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,471.8 | +0.044% | $3.8M | $5.3M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,469.5 | −0.115% | $3.3M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,470.2 | −0.067% | $37K | $366K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0132% | 1h | 1,470.1 | −0.073% | $824K | $1.2M | 10x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0419% | 1h | 1,471.2 | +0.002% | $2.4M | $3.8M | 15x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0432% | 1h | 1,474.9 | +0.254% | $3.8M | $10.6M | 50x | as long as short |
| Lighter RH ZEC | +0.0456% | 1h | 1,470.8 | −0.024% | $2.0M | $8.4M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0725% | 1h | 1,471.4 | +0.014% | $46K | $47K | 10x | as long as short |
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
01 Exchange ZECUSD
Phoenix ZEC
OKX ZEC-USDT-SWAP
Deribit ZEC_USDC-PERPETUAL
Gate ZEC_USDT
GMX ZEC/USD [WBTC.b-USDC]
Lighter ZEC
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Arcus ZEC-USD
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Extended ZEC-USD
Aevo ZEC-PERP
RISEx ZEC/USDC
Backpack ZEC_USDC_PERP
Coinbase International ZEC-PERP-INTX
Lighter RH ZEC
Aftermath Perps ZECUSD