Funding you earn now, next payment 22:00 UTC−0.0721%/8h= −78.9% APRnext payment −$0.90 per $10,000 · paid last 24h −0.034%
Price spread now: Kraken Futures against Hyperliquid−0.043%7-day average −0.120% · you buy dearer than you sell
Net, funding: paid 7d − costs−$89as in the Funding arb table
Net, price: spread back to 7d avg − costs−$46as in the Price arb table
costs, in and out, $10k−$530.535% of the position
Funding, last 7 days−0.355%−$35 on $10k
+Price spread, last 3 days (all we have)−0.111%−$11 · spread now −0.043%, 7d avg −0.120%
=Together, before fees−0.466%+ Points / potential airdropHyperliquid: Season 2 · farm board−$47 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kraken Futures is 0.077% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.043% now, against its 7-day average of −0.120%): +$8 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.355% in total) that is about 36 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.355% in total (about -18.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.90 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 FIL | 0.9805 | 0.0096 | pay 0.0012% / 1h | 7m 22s | $8.6M | $9.5M | 5x |
| Short | Kraken Futures PF_FILUSD | 0.9801 | −0.0625 | pay 0.0078% / 1h | 7m 22s | $1.4M | $2.2M | 50x |
Hyperliquid FIL
Kraken Futures PF_FILUSDFunding 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
- −$151.32
- Price spread: −0.043% → −0.120%
- $7.67
- Slippage, 4 orders
- −$34.48
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$197.14
- Costs to cover
- 0.535%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 5 min ago; Kraken Futures: live order book, 1 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, 5 min ago | 0.77 bp | 7.9 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 1 min ago | 2.55 bp | 15.9 bp −$16 | 35.6 bp −$356 | doesn't fit | doesn't fit |
FIL on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit FIL_USDC-PERPETUAL | −0.1175% | 1h | 0.9809 | +0.038% | $169K | $23K | 25x | as long as short |
| Kraken Futures PF_FILUSDshort | −0.0625% | 1h | 0.9801 | −0.043% | $1.4M | $2.2M | 50x | |
| Coinbase International FIL-PERP-INTX | −0.0328% | 1h | 0.9856 | +0.517% | $315K | $1.9M | 50x | as long as short |
| Lighter FIL | −0.0312% | 1h | 0.9798 | −0.076% | $156K | $337K | 5x | as long as short |
| Bybit FILUSDT | −0.0033% | 8h | 0.9806 | +0.007% | $15.4M | $17.9M | 25x | as long as short |
| Bitget FILUSDT | −0.0029% | 8h | 0.9804 | −0.013% | $10.8M | $21.4M | 75x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9809 | +0.035% | $24K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9807 | +0.013% | $57K | $2K | 10x | as long as short |
| OKX FIL-USDT-SWAP | +0.0020% | 8h | 0.9803 | −0.023% | $18.1M | $95.6M | 50x | as long as short |
| KuCoin FILUSDTM | +0.0024% | 8h | 0.9807 | +0.017% | $7.4M | $7.0M | 50x | as long as short |
Deribit FIL_USDC-PERPETUAL
Coinbase International FIL-PERP-INTX
Lighter FIL
Bybit FILUSDT
Bitget FILUSDT
gTrade (Gains Network) FIL/USD
dYdX FIL-USD
OKX FIL-USDT-SWAP
KuCoin FILUSDTMShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective FIL/USDC PERP | +0.0033% | 1h | 0.9850 | +0.456% | $2K | $182K | 12x | as long as short |
| Variational Omni FIL | +0.0037% | 8h | 0.9797 | −0.082% | $435K | $276K | — | as long as short |
| MEXC FIL_USDC | +0.0085% | 8h | 0.9798 | −0.074% | $249K | $106K | 50x | as long as short |
| Extended FIL-USD | +0.0088% | 1h | 0.9800 | −0.050% | $685K | $2.3M | 10x | as long as short |
| Binance FILUSDT | +0.0089% | 8h | 0.9803 | −0.023% | $56.3M | $174.6M | 75x | as long as short |
| Hyperliquid FILlong | +0.0096% | 1h | 0.9805 | long leg | $8.6M | $9.5M | 5x | |
| BingX FIL-USDC | +0.0098% | 8h | 0.9805 | −0.003% | — | $6.5M | — | as long as short |
| Aster FILUSDT | +0.0100% | 8h | 0.9807 | +0.014% | $485K | $514K | 20x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 0.9805 | −0.003% | $7.8M | $16.4M | 50x | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9798 | −0.072% | $45K | $292K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9798 | −0.079% | $287K | $801K | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9800 | −0.054% | $30K | $198K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9815 | +0.096% | $5K | — | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9800 | −0.054% | $2K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9795 | −0.105% | $474 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9810 | +0.048% | $621K | $5.7M | 75x | as long as short |
| Phemex FILUSDT | +0.0100% | 8h | 0.9800 | −0.054% | $1.0M | $2.3M | 50x | as long as short |
| BloFin FIL-USDT | +0.0208% | 8h | 0.9798 | −0.074% | $2.6M | $640K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0624% / S −0.0759% | 1h | 0.9809 | +0.034% | $217K | — | 100x | as long as short |
Injective FIL/USDC PERP
Variational Omni FIL
MEXC FIL_USDC
Extended FIL-USD
Binance FILUSDT
BingX FIL-USDC
Aster FILUSDT
Gate FIL_USDT
edgeX FILUSDC
GRVT FIL_USDT_Perp
ApeX Omni FILUSDT
Orderly PERP_FIL_USDC_mythos
SunX FIL-USDT
SoDEX FIL-USD
HTX FIL-USDT
Phemex FILUSDT
BloFin FIL-USDT
GMX FIL/USD [WBTC.b-USDC]