Funding you earn now, next payment 05:00 UTC+0.0265%/8h= +29.0% APRnext payment +$0.33 per $10,000 · paid last 24h −0.131%
Price spread now: Hyperliquid against Kraken Futures−0.146%7-day average −0.082% · you buy dearer than you sell
Net, funding: paid 7d − costs−$116as in the Funding arb table
Net, price: spread back to 7d avg − costs−$137as in the Price arb table
costs, in and out, $10k−$1301.302% of the position
Funding, last 7 days+0.138%+$14 on $10k
+Price spread, last 4 days (all we have)−0.101%−$10 · spread now −0.146%, 7d avg −0.082%
=Together, before fees+0.037%+ Points / potential airdropHyperliquid: Season 2 · farm board+$4 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.064% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.146% now, against its 7-day average of −0.082%). If the spread goes back, that is −$6 on $10k: about 19 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.138% in total) that is about 3.2 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.138% in total (about 7.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.33 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_GALAUSD | 0.002104 | −0.0165 | get 0.0021% / 1h | 27m 35s | $666K | $180K | 25x |
| Short | Hyperliquid GALA | 0.002101 | 0.0100 | get 0.0013% / 1h | 27m 35s | $308K | $156K | 3x |
Kraken Futures PF_GALAUSD
Hyperliquid GALAFunding 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
- $55.56
- Price spread: −0.146% → −0.082%
- −$6.39
- Slippage, 4 orders
- −$111.17
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$81
- Costs to cover
- 1.302%
- Break-even
- 17.2 days
Slippage from Kraken Futures: live order book, 26 min ago; Hyperliquid: live order book, 52 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, 26 min ago | 11.85 bp | 39.6 bp −$40 | 116.3 bp −$1,163 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 52 min ago | 2.39 bp | 22.2 bp −$22 | doesn't fit | doesn't fit | doesn't fit |
GALA on 15 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_GALAUSDlong | −0.0165% | 1h | 0.002104 | long leg | $666K | $180K | 25x | |
| KuCoin GALAUSDTM | −0.0005% | 8h | 0.002100 | −0.194% | $1.8M | $5.1M | 75x | as long as short |
| Injective GALA/USDC PERP | +0.0033% | 1h | 0.002110 | +0.282% | $2K | $7K | 5.5x | as long as short |
| Hyperliquid GALAshort | +0.0100% | 1h | 0.002101 | −0.146% | $308K | $156K | 3x | |
| Aster GALAUSDT | +0.0100% | 8h | 0.002103 | −0.060% | $17K | $11K | 5x | as long as short |
| Binance GALAUSDT | +0.0100% | 8h | 0.002100 | −0.194% | $5.5M | $17.0M | 75x | as long as short |
| Bybit GALAUSDT | +0.0100% | 8h | 0.002099 | −0.241% | $6.1M | $6.1M | 75x | as long as short |
| OKX GALA-USDT-SWAP | +0.0100% | 8h | 0.002099 | −0.241% | $2.2M | $4.0M | 50x | as long as short |
| Gate GALA_USDT | +0.0100% | 8h | 0.002105 | +0.044% | $1.8M | $1.4M | 75x | as long as short |
| MEXC GALA_USDT | +0.0100% | 8h | 0.002101 | −0.146% | $5.8M | $3.4M | 125x | as long as short |
KuCoin GALAUSDTM
Injective GALA/USDC PERP
Aster GALAUSDT
Binance GALAUSDT
Bybit GALAUSDT
OKX GALA-USDT-SWAP
Gate GALA_USDT
MEXC GALA_USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget GALAUSDT | +0.0100% | 8h | 0.002100 | −0.194% | $2.2M | $1.2M | 75x | as long as short |
| BingX GALA-USDT | +0.0100% | 8h | 0.002102 | −0.098% | — | $11.0M | — | as long as short |
| Variational Omni GALA | +0.0100% | 8h | 0.002108 | +0.169% | $26K | $20K | — | as long as short |
| Extended GALA-USD | +0.0104% | 1h | 0.002099 | −0.222% | $443 | $130K | 5x | as long as short |
| BloFin GALA-USDT | +0.0105% | 8h | 0.002099 | −0.241% | $311K | $68K | 20x | as long as short |
Bitget GALAUSDT
BingX GALA-USDT
Variational Omni GALA
Extended GALA-USD
BloFin GALA-USDT