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: Hyperliquid against Kraken Futures−0.178%50s7-day average −0.034% · you buy dearer than you sell
Net, funding: paid 7d − costs−$72as 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−$850.845% of the position
Funding, last 7 days+0.127%+$13 on $10k
+Price spread, last 3 days (all we have)+0.053%+$5 · spread now −0.178%, 7d avg −0.034%
=Together, before fees+0.180%+ Points / potential airdropHyperliquid: Season 2 · farm board+$18 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.144% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.178% now, against its 7-day average of −0.034%). If the spread goes back, that is −$14 on $10k: about 26 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.127% in total) that is about 8.0 days. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
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 | Kraken Futures PF_AXSUSD | 1.0617 | −0.0339 | get 0.0042% / 1h | 6m 26s | $139K | $322K | 20x |
| Short | Hyperliquid AXS | 1.0598 | 0.0100 | get 0.0013% / 1h | 6m 26s | $260K | $293K | 5x |
Kraken Futures PF_AXSUSD
Hyperliquid AXSFunding 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
- $92.14
- Price spread: −0.178% → −0.034%
- −$14.38
- Slippage, 4 orders
- −$65.51
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$6.74
- Costs to cover
- 0.845%
- Break-even
- 7.5 days
Slippage from Kraken Futures: live order book, 16 min ago; Hyperliquid: 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 Kraken Futures live order book, 16 min ago | 6.09 bp | 17.3 bp −$17 | 91.3 bp −$913 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 3 min ago | 2.83 bp | 23.8 bp −$24 | doesn't fit | 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_AXSUSDlong | −0.0339% | 1h | 1.0617 | long leg | $139K | $322K | 20x | |
| OKX AXS-USDT-SWAP | +0.0017% | 4h | 1.0597 | −0.187% | $1.4M | $2.7M | 20x | as long as short |
| Injective AXS/USDC PERP | +0.0033% | 1h | 1.0720 | +0.972% | $5 | $47K | 5.5x | as long as short |
| Orderly PERP_AXS_USDC | +0.0073% | 4h | 1.0600 | −0.159% | $3K | — | 10x | as long as short |
| Lighter AXS | +0.0096% | 1h | 1.0617 | +0.001% | $28K | $36K | 5x | as long as short |
| Hyperliquid AXSshort | +0.0100% | 1h | 1.0598 | −0.178% | $260K | $293K | 5x | |
| Aster AXSUSDT | +0.0100% | 4h | 1.0603 | −0.135% | $72K | $11K | 10x | as long as short |
| Binance AXSUSDT | +0.0100% | 4h | 1.0594 | −0.215% | $5.9M | $9.3M | 75x | as long as short |
| Bybit AXSUSDT | +0.0100% | 8h | 1.0591 | −0.243% | $3.2M | $3.6M | 75x | as long as short |
| Gate AXS_USDT | +0.0100% | 8h | 1.0608 | −0.083% | $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 | 1.0595 | −0.206% | $11.1M | $764K | 50x | as long as short |
| KuCoin AXSUSDTM | +0.0100% | 4h | 1.0600 | −0.159% | $582K | $294K | 50x | as long as short |
| Bitget AXSUSDT | +0.0100% | 4h | 1.0600 | −0.159% | $3.1M | $1.2M | 50x | as long as short |
| BingX AXS-USDT | +0.0100% | 4h | 1.0596 | −0.196% | — | $2.6M | — | as long as short |
| Variational Omni AXS | +0.0100% | 8h | 1.0610 | −0.067% | $36K | $4K | — | as long as short |
| GRVT AXS_USDT_Perp | +0.0100% | 4h | 1.0620 | +0.032% | $758K | $907K | 10x | as long as short |
| SunX AXS-USDT | +0.0100% | 4h | 1.0611 | −0.055% | $2K | $1.3M | 20x | as long as short |
| SoDEX AXS-USD | +0.0100% | 1h | 1.0603 | −0.130% | $697 | $3K | 5x | as long as short |
| Extended AXS-USD | +0.0104% | 1h | 1.0595 | −0.205% | $7K | $156K | 10x | as long as short |
| BloFin AXS-USDT | +0.0145% | 4h | 1.0613 | −0.036% | $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