Funding you earn now, next payment 22:00 UTC−0.0439%/8h= −48.0% APRnext payment −$0.55 per $10,000 · paid last 24h −0.017%
Price spread now: Kraken Futures against Hyperliquid+0.131%7-day average +0.034% · you sell dearer than you buy
Net, funding: paid 7d − costs−$97as in the Funding arb table
Net, price: spread back to 7d avg − costs−$75as in the Price arb table
costs, in and out, $10k−$850.845% of the position
Funding, last 7 days−0.127%−$13 on $10k
+Price spread, last 3 days (all we have)−0.007%−$1 · spread now +0.131%, 7d avg +0.034%
=Together, before fees−0.133%+ Points / potential airdropHyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kraken Futures is 0.097% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.131% now, against its 7-day average of +0.034%): +$10 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 18 hours. At the pace of the last 7 days (−0.127% in total) that is about 5.4 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.127% in total (about -6.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.55 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 AXS | 1.0603 | 0.0100 | pay 0.0013% / 1h | 6m 42s | $260K | $293K | 5x |
| Short | Kraken Futures PF_AXSUSD | 1.0617 | −0.0339 | pay 0.0042% / 1h | 6m 42s | $139K | $322K | 20x |
Hyperliquid AXS
Kraken Futures PF_AXSUSDFunding 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
- −$92.14
- Price spread: +0.131% → +0.034%
- $9.69
- Slippage, 4 orders
- −$65.51
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$166.96
- Costs to cover
- 0.845%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 3 min ago; Kraken Futures: live order book, 16 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, 3 min ago | 2.83 bp | 23.9 bp −$24 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 16 min ago | 6.09 bp | 19.5 bp −$19 | 68.1 bp −$681 | doesn't fit | doesn't fit |
AXS on 20 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_AXSUSDshort | −0.0339% | 1h | 1.0617 | +0.131% | $139K | $322K | 20x | |
| OKX AXS-USDT-SWAP | +0.0024% | 4h | 1.0597 | −0.057% | $1.4M | $2.7M | 20x | as long as short |
| Injective AXS/USDC PERP | +0.0033% | 1h | 1.0720 | +1.103% | $5 | $47K | 5.5x | as long as short |
| Orderly PERP_AXS_USDC | +0.0073% | 4h | 1.0600 | −0.028% | $3K | — | 10x | as long as short |
| Lighter AXS | +0.0096% | 1h | 1.0617 | +0.132% | $28K | $36K | 5x | as long as short |
| Hyperliquid AXSlong | +0.0100% | 1h | 1.0603 | long leg | $260K | $293K | 5x | |
| Aster AXSUSDT | +0.0100% | 4h | 1.0605 | +0.018% | $72K | $11K | 10x | as long as short |
| Binance AXSUSDT | +0.0100% | 4h | 1.0597 | −0.055% | $5.9M | $9.3M | 75x | as long as short |
| Bybit AXSUSDT | +0.0100% | 8h | 1.0591 | −0.113% | $3.2M | $3.6M | 75x | as long as short |
| Gate AXS_USDT | +0.0100% | 8h | 1.0609 | +0.057% | $957K | $1.0M | 50x | as long as short |
OKX AXS-USDT-SWAP
Injective AXS/USDC PERP
Orderly PERP_AXS_USDC
Lighter AXS
Aster AXSUSDT
Binance AXSUSDT
Bybit AXSUSDT
Gate AXS_USDTShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC AXS_USDT | +0.0100% | 4h | 1.0603 | 0.000% | $11.1M | $764K | 50x | as long as short |
| KuCoin AXSUSDTM | +0.0100% | 4h | 1.0600 | −0.028% | $582K | $294K | 50x | as long as short |
| Bitget AXSUSDT | +0.0100% | 4h | 1.0610 | +0.066% | $3.1M | $1.2M | 50x | as long as short |
| BingX AXS-USDT | +0.0100% | 4h | 1.0599 | −0.038% | — | $2.6M | — | as long as short |
| Variational Omni AXS | +0.0100% | 8h | 1.0610 | +0.064% | $36K | $4K | — | as long as short |
| GRVT AXS_USDT_Perp | +0.0100% | 4h | 1.0620 | +0.162% | $758K | $907K | 10x | as long as short |
| SunX AXS-USDT | +0.0100% | 4h | 1.0611 | +0.075% | $2K | $1.3M | 20x | as long as short |
| SoDEX AXS-USD | +0.0100% | 1h | 1.0603 | 0.000% | $697 | $3K | 5x | as long as short |
| Extended AXS-USD | +0.0104% | 1h | 1.0603 | −0.003% | $7K | $156K | 10x | as long as short |
| BloFin AXS-USDT | +0.0145% | 4h | 1.0613 | +0.094% | $272K | $29K | 75x | as long as short |
MEXC AXS_USDT
KuCoin AXSUSDTM
Bitget AXSUSDT
BingX AXS-USDT
Variational Omni AXS
GRVT AXS_USDT_Perp
SunX AXS-USDT
SoDEX AXS-USD
Extended AXS-USD
BloFin AXS-USDT