Funding you earn now, next payment 23:00 UTC−0.0041%/8h= −4.5% APRnext payment −$0.05 per $10,000 · paid last 24h −0.194%
Price spread now: Kraken Futures against Hyperliquid−0.067%7-day average +0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs−$96as in the Funding arb table
Net, price: spread back to 7d avg − costs−$105as in the Price arb table
costs, in and out, $10k−$980.977% of the position
Funding, last 7 days+0.021%+$2 on $10k
+Price spread, last 3 days (all we have)−0.274%−$27 · spread now −0.067%, 7d avg +0.005%
=Together, before fees−0.252%+ Points / potential airdropHyperliquid: Season 2 · farm board−$25 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Kraken Futures is 0.073% cheaper against Hyperliquid than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.005%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ZRO | 1.1827 | 0.0100 | pay 0.0013% / 1h | 14m 49s | $37.5M | $6.2M | 5x |
| Short | Kraken Futures PF_ZROUSD | 1.1819 | 0.0059 | get 0.0007% / 1h | 14m 49s | $250K | $507K | 25x |
Hyperliquid ZRO
Kraken Futures PF_ZROUSDFunding 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
- −$8.55
- Price spread: −0.067% → +0.005%
- −$7.26
- Slippage, 4 orders
- −$78.7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$113.51
- Costs to cover
- 0.977%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 8 min ago; Kraken Futures: live order book, 3 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, 8 min ago | 0.42 bp | 11.2 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 14.38 bp | 40.0 bp −$40 | 137.1 bp −$1,371 | doesn't fit | doesn't fit |
ZRO on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange ZROUSD | −0.0464% | 1h | 1.1806 | −0.176% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | −0.0030% | 4h | 1.1809 | −0.152% | $21K | $7K | 10x | as long as short |
| Kraken Futures PF_ZROUSDshort | +0.0059% | 1h | 1.1819 | −0.067% | $250K | $507K | 25x | |
| BloFin ZRO-USDT | +0.0060% | 4h | 1.1814 | −0.110% | $1.1M | $263K | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1812 | −0.129% | $4.4M | $1.5M | 5x | as long as short |
| Hyperliquid ZROlong | +0.0100% | 1h | 1.1827 | long leg | $37.5M | $6.2M | 5x | |
| Aster ZROUSDT | +0.0100% | 4h | 1.1818 | −0.073% | $158K | $153K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1806 | −0.177% | $137K | $183K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1808 | −0.159% | $22.2M | $31.7M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1803 | −0.203% | $18.0M | $14.8M | 50x | as long as short |
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
BloFin ZRO-USDT
Lighter ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1816 | −0.093% | $3.2M | $8.5M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1810 | −0.144% | $1.3M | $1.8M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1808 | −0.161% | $19.1M | $3.1M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1797 | −0.254% | $2.6M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1817 | −0.085% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1811 | −0.135% | — | $10.8M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1819 | −0.068% | $100K | $207K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1793 | −0.287% | $2.3M | $868K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1810 | −0.144% | $37K | $684K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1815 | −0.101% | $88K | $904K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1805 | −0.186% | $21K | — | 3x | as long as short |
| dYdX ZRO-USD | +0.0180% | 1h | 1.1807 | −0.165% | $21K | $2K | 5x | as long as short |
| Nado ZRO-PERP | +0.0195% | 1h | 1.1811 | −0.136% | $1.3M | $124K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1812 | −0.131% | $3K | — | 100x | as long as short |
| Injective ZRO/USDC PERP | +0.0980% | 1h | 1.1860 | +0.279% | $12K | $260K | 12x | as long as short |
| Extended ZRO-USD | +0.2488% | 1h | 1.1809 | −0.154% | $780K | $560K | 10x | as long as short |
OKX ZRO-USDT-SWAP
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Backpack ZRO_USDC_PERP
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
dYdX ZRO-USD
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Injective ZRO/USDC PERP
Extended ZRO-USD