Funding you earn now, next payment 23:00 UTC+0.0355%/8h= +38.9% APRnext payment +$0.44 per $10,000 · paid last 24h +0.021%
Price spread now: Hyperliquid against Kraken Futures−0.032%7-day average +0.054% · you buy dearer than you sell
Net, funding: paid 7d − costs−$59as in the Funding arb table
Net, price: spread back to 7d avg − costs−$70as in the Price arb table
costs, in and out, $10k−$610.612% of the position
Funding, last 7 days+0.027%+$3 on $10k
+Price spread, last 3 days (all we have)+0.005%$0 · spread now −0.032%, 7d avg +0.054%
=Together, before fees+0.031%+ Points / potential airdropHyperliquid: Season 2 · farm board+$3 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.086% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.032% now, against its 7-day average of +0.054%). If the spread goes back, that is −$9 on $10k: about 19 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.027% in total) that is about 23 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.027% in total (about 1.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.44 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_CRVUSD | 0.3661 | 0.0027 | pay 0.0003% / 1h | 18m 04s | $3.1M | $3.0M | 50x |
| Short | Hyperliquid CRV | 0.3660 | 0.0382 | get 0.0048% / 1h | 18m 04s | $22.7M | $16.4M | 10x |
Kraken Futures PF_CRVUSD
Hyperliquid CRVFunding 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
- $74.55
- Price spread: −0.032% → +0.054%
- −$8.65
- Slippage, 4 orders
- −$42.22
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $4.68
- Costs to cover
- 0.612%
- Break-even
- 6.6 days
Slippage from Kraken Futures: live order book, 6 min ago; Hyperliquid: live order book, 5 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, 6 min ago | 5.45 bp | 22.5 bp −$22 | 50.7 bp −$507 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 1.36 bp | 10.4 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
CRV on 30 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 CRV/USDC PERP | −0.0228% | 1h | 0.3670 | +0.241% | $79 | $384K | 12x | as long as short |
| Phoenix CRV | −0.0176% | 1h | 0.3664 | +0.074% | $26K | $181K | 10x | as long as short |
| Reya CRVRUSDPERP | −0.0049% | 1h | 0.3656 | −0.147% | $16 | — | 15x | as long as short |
| Deribit CRV_USDC-PERPETUAL | −0.0023% | 1h | 0.3657 | −0.114% | $57K | $48K | 25x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3659 | −0.067% | $38K | $4K | 10x | as long as short |
| Kraken Futures PF_CRVUSDlong | +0.0027% | 1h | 0.3661 | long leg | $3.1M | $3.0M | 50x | |
| Orderly PERP_CRV_USDC | +0.0096% | 8h | 0.3657 | −0.114% | $24K | $929 | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3656 | −0.150% | $413K | $706K | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3658 | −0.100% | $131K | $186K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3658 | −0.084% | $368K | $206K | 10x | as long as short |
Injective CRV/USDC PERP
Phoenix CRV
Reya CRVRUSDPERP
Deribit CRV_USDC-PERPETUAL
dYdX CRV-USD
Orderly PERP_CRV_USDC
Lighter CRV
Aster CRVUSDT
Pacifica CRVShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CRVUSDT | +0.0100% | 8h | 0.3653 | −0.216% | $25.6M | $56.6M | 75x | as long as short |
| Bybit CRVUSDT | +0.0100% | 8h | 0.3653 | −0.223% | $27.7M | $17.0M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3652 | −0.251% | $8.7M | $21.7M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3656 | −0.142% | $2.0M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3655 | −0.169% | $14.5M | $5.5M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3658 | −0.087% | $7.2M | $9.1M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3657 | −0.114% | $6.9M | $5.6M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3655 | −0.169% | — | $1.7M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3664 | +0.078% | $1.1M | $124K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3667 | +0.150% | $38K | $172K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3669 | +0.223% | $519K | $435K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3667 | +0.159% | $60K | $694K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3685 | +0.651% | $1K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3656 | −0.147% | $243K | $882K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3658 | −0.097% | $19K | $9K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3656 | −0.142% | $1.4M | $4.2M | 75x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0376% | 1h | 0.3660 | −0.032% | $385K | $4.7M | 50x | as long as short |
| Hyperliquid CRVshort | +0.0382% | 1h | 0.3660 | −0.032% | $22.7M | $16.4M | 10x | |
| GMX CRV/USD [ETH-USDC] | L +0.0402% / S −0.0160% | 1h | 0.3658 | −0.081% | $217K | — | 100x | as long as short |
| Backpack CRV_USDC_PERP | +0.0464% | 1h | 0.3659 | −0.062% | $107K | $369K | 10x | as long as short |
Binance CRVUSDT
Bybit CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDC
Variational Omni CRV
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
BloFin CRV-USDT
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]
Backpack CRV_USDC_PERP