Funding you earn now, next payment 00:00 UTC−0.0314%/8h= −34.4% APRnext payment −$0.39 per $10,000 · paid last 24h −0.120%
Price spread now: Backpack against Kraken Futures−0.179%51s7-day average −0.057% · you buy dearer than you sell
Net, funding: paid 7d − costs−$87as 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−$390.387% of the position
Funding, last 7 days−0.484%−$48 on $10k
+Price spread, last 3 days (all we have)+0.159%+$16 · spread now −0.179%, 7d avg −0.057%
=Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Backpack is 0.122% cheaper against Kraken Futures than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.057%). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_HBARUSD | 0.09257 | 0.0414 | pay 0.0052% / 1h | 23m 13s | $1.4M | $2.3M | 50x |
| Short | Backpack HBAR_USDC_PERP | 0.09240 | 0.0100 | get 0.0013% / 1h | 23m 13s | $34K | $102K | 15x |
Kraken Futures PF_HBARUSD
Backpack HBAR_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack 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
- −$65.9
- Price spread: −0.179% → −0.057%
- −$12.19
- Slippage, 4 orders
- −$18.72
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$116.81
- Costs to cover
- 0.387%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, just now; Backpack: live order book, 55 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, just now | 2.16 bp | 12.3 bp −$12 | 21.7 bp −$217 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 55 min ago | 1.08 bp | 9.2 bp −$9 | 654.4 bp −$6,544 | doesn't fit | doesn't fit |
HBAR on 28 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 | |
|---|---|---|---|---|---|---|---|---|
| KuCoin HBARUSDTM | −0.0054% | 8h | 0.09241 | −0.169% | $7.4M | $7.8M | 75x | as long as short |
| Gate HBAR_USDT | −0.0032% | 8h | 0.09245 | −0.125% | $2.4M | $3.6M | 75x | as long as short |
| dYdX HBAR-USD | 0.0000% | 1h | 0.09243 | −0.142% | $30K | $4K | 5x | as long as short |
| Deribit HBAR_USDC-PERPETUAL | 0.0000% | 1h | 0.09256 | −0.006% | $510K | $166K | 50x | as long as short |
| gTrade (Gains Network) HBAR/USD | L +0.0007% / S −0.0014% | 1h | 0.09251 | −0.057% | $8K | — | 150x | as long as short |
| Coinbase International HBAR-PERP-INTX | +0.0064% | 1h | 0.09248 | −0.093% | $221K | $2.2M | 50x | as long as short |
| Variational Omni HBAR | +0.0079% | 8h | 0.09243 | −0.142% | $1.0M | $198K | — | as long as short |
| Orderly PERP_HBAR_USDC | +0.0083% | 8h | 0.09246 | −0.114% | $2K | $17K | 10x | as long as short |
| Lighter HBAR | +0.0096% | 1h | 0.09251 | −0.060% | $568K | $591K | 5x | as long as short |
| Extended HBAR-USD | +0.0096% | 1h | 0.09246 | −0.115% | $51K | $218K | 10x | as long as short |
KuCoin HBARUSDTM
Gate HBAR_USDT
dYdX HBAR-USD
Deribit HBAR_USDC-PERPETUAL
gTrade (Gains Network) HBAR/USD
Coinbase International HBAR-PERP-INTX
Variational Omni HBAR
Orderly PERP_HBAR_USDC
Lighter HBAR
Extended HBAR-USDShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC HBAR_USDT | +0.0096% | 8h | 0.09246 | −0.114% | $25.9M | $22.5M | 200x | as long as short |
| Binance HBARUSDT | +0.0097% | 8h | 0.09251 | −0.063% | $34.7M | $109.8M | 75x | as long as short |
| Hyperliquid HBAR | +0.0100% | 1h | 0.09260 | +0.037% | $8.8M | $2.9M | 5x | as long as short |
| Aster HBARUSDT | +0.0100% | 8h | 0.09250 | −0.067% | $211K | $429K | 50x | as long as short |
| Bybit HBARUSDT | +0.0100% | 8h | 0.09251 | −0.060% | $32.9M | $36.7M | 75x | as long as short |
| OKX HBAR-USDT-SWAP | +0.0100% | 8h | 0.09251 | −0.060% | $6.8M | $25.0M | 50x | as long as short |
| Bitget HBARUSDT | +0.0100% | 8h | 0.09251 | −0.060% | $17.1M | $14.8M | 75x | as long as short |
| BingX HBAR-USDT | +0.0100% | 8h | 0.09248 | −0.093% | — | $6.0M | — | as long as short |
| Backpack HBAR_USDC_PERPshort | +0.0100% | 1h | 0.09240 | −0.179% | $34K | $102K | 15x | |
| GRVT HBAR_USDT_Perp | +0.0100% | 8h | 0.09246 | −0.113% | $376K | $2.2M | 10x | as long as short |
| ApeX Omni HBARUSDT | +0.0100% | 1h | 0.09237 | −0.212% | $148K | $708K | 50x | as long as short |
| SoDEX HBAR-USD | +0.0100% | 1h | 0.09249 | −0.082% | $429 | $6K | 5x | as long as short |
| HTX HBAR-USDT | +0.0100% | 8h | 0.09260 | +0.037% | $73K | $53K | 20x | as long as short |
| Phemex HBARUSDT | +0.0100% | 8h | 0.09251 | −0.060% | $2.2M | $2.2M | 50x | as long as short |
| BloFin HBAR-USDT | +0.0217% | 8h | 0.09252 | −0.050% | $1.5M | $5.8M | 90x | as long as short |
| Injective HBAR/USDC PERP | +0.0242% | 1h | 0.09267 | +0.112% | $1K | $112K | 12x | as long as short |
| Kraken Futures PF_HBARUSDlong | +0.0414% | 1h | 0.09257 | long leg | $1.4M | $2.3M | 50x | |
| GMX HBAR/USD [WBTC.b-USDC] | L +0.0447% / S −0.0478% | 1h | 0.09252 | −0.051% | $104K | — | 100x | as long as short |
MEXC HBAR_USDT
Binance HBARUSDT
Hyperliquid HBAR
Aster HBARUSDT
Bybit HBARUSDT
OKX HBAR-USDT-SWAP
Bitget HBARUSDT
BingX HBAR-USDT
GRVT HBAR_USDT_Perp
ApeX Omni HBARUSDT
SoDEX HBAR-USD
HTX HBAR-USDT
Phemex HBARUSDT
BloFin HBAR-USDT
Injective HBAR/USDC PERP
GMX HBAR/USD [WBTC.b-USDC]