Funding you earn now, next payment 00:00 UTC−0.0529%/8h= −57.9% APRnext payment −$0.66 per $10,000 · paid last 24h −0.023%
Price spread now: Coinbase International against Kraken Futures−0.021%7-day average −0.065% · you buy dearer than you sell
Net, funding: paid 7d − costs−$54as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$370.373% of the position
Funding, last 7 days−0.168%−$17 on $10k
+Price spread, last 3 days (all we have)−0.031%−$3 · spread now −0.021%, 7d avg −0.065%
=The price spread pays, funding is against you. Coinbase International is 0.044% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.021% now, against its 7-day average of −0.065%): +$4 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−0.168% in total) that is about 44 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.168% in total (about -8.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.66 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_HYPEUSD | 93.890 | 0.0673 | pay 0.0084% / 1h | 5m 00s | $20.9M | $29.7M | 50x |
| Short | Coinbase International HYPE-PERP-INTX | 93.870 | 0.0144 | get 0.0018% / 1h | 5m 00s | $4.9M | $5.5M | 50x |
Kraken Futures PF_HYPEUSD
Coinbase International HYPE-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$110.99
- Price spread: −0.021% → −0.065%
- $4.42
- Slippage, 4 orders
- −$17.26
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$143.83
- Costs to cover
- 0.373%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 4 min ago; Coinbase International: live order book, 4 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, 4 min ago | 1.38 bp | 10.6 bp −$11 | 14.0 bp −$140 | 25.4 bp −$2,542 | 65.6 bp −$32.8K |
| Sell Coinbase International live order book, 4 min ago | 3.73 bp | 8.7 bp −$9 | 12.6 bp −$126 | 34.5 bp −$3,446 | doesn't fit |
HYPE on 55 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi HYPE/USDT-P | −0.1112% | 1h | 93.814 | −0.081% | $199K | $228K | 7x | as long as short |
| Arcus HYPE-USD | −0.0625% | 1h | 93.716 | −0.185% | $1.2M | $3.9M | 10x | as long as short |
| Aftermath Perps HYPEUSD | −0.0198% | 1h | 93.898 | +0.008% | $22K | $21K | 10x | as long as short |
| Ondo Perps HYPE-USD.P | −0.0097% | 1h | 93.810 | −0.085% | $710K | $958K | 10x | as long as short |
| dYdX HYPE-USD | −0.0082% | 1h | 93.836 | −0.058% | $129K | $31K | 5x | as long as short |
| 01 Exchange HYPEUSD | −0.0080% | 1h | 93.830 | −0.064% | $85K | $359K | 20x | as long as short |
| Hotstuff HYPE-PERP | −0.0080% | 1h | 93.842 | −0.051% | $3K | $331 | 25x | as long as short |
| Bullet HYPE-USD | −0.0048% | 1h | 93.816 | −0.078% | $113K | $580K | 20x | as long as short |
| Phemex HYPEUSDT | −0.0047% | 8h | 93.811 | −0.084% | $12.8M | $2.6M | 50x | as long as short |
| Orderly PERP_HYPE_USDC | −0.0034% | 4h | 93.790 | −0.106% | $159K | $643K | 20x | as long as short |
Hibachi HYPE/USDT-P
Arcus HYPE-USD
Aftermath Perps HYPEUSD
Ondo Perps HYPE-USD.P
dYdX HYPE-USD
01 Exchange HYPEUSD
Hotstuff HYPE-PERP
Bullet HYPE-USD
Phemex HYPEUSDT
Orderly PERP_HYPE_USDCShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate HYPE_USDT | −0.0022% | 4h | 93.804 | −0.092% | $44.4M | $60.4M | 75x | as long as short |
| Perpl HYPE | 0.0000% | 43m | 93.839 | −0.054% | $23K | $327K | 10x | as long as short |
| gTrade (Gains Network) HYPE/USD | L +0.0002% / S −0.0003% | 1h | 93.852 | −0.040% | $27K | — | 150x | as long as short |
| Aster HYPEUSDT | +0.0004% | 4h | 93.817 | −0.078% | $8.9M | $36.0M | 300x | as long as short |
| Derive HYPE-PERP | +0.0016% | 1h | 93.775 | −0.122% | $16.4M | $7.6M | 10x | as long as short |
| Bybit HYPEUSDT | +0.0018% | 8h | 93.843 | −0.050% | $322.9M | $278.8M | 75x | as long as short |
| Phoenix HYPE | +0.0034% | 1h | 94.045 | +0.165% | $214K | $1.2M | 10x | as long as short |
| MEXC HYPE_USDT | +0.0054% | 4h | 93.950 | +0.064% | $88.4M | $83.4M | 100x | as long as short |
| Binance HYPEUSDT | +0.0054% | 4h | 93.834 | −0.060% | $383.2M | $893.1M | 75x | as long as short |
| OKX HYPE-USDT-SWAP | +0.0071% | 8h | 93.857 | −0.035% | $116.0M | $314.6M | 50x | as long as short |
| edgeX HYPEUSDC | +0.0074% | 4h | 93.859 | −0.033% | $5.1M | $29.7M | 30x | as long as short |
| Bluefin HYPE-PERP | +0.0077% | 1h | 93.786 | −0.111% | $76K | $170K | 20x | as long as short |
| Lighter HYPE | +0.0096% | 1h | 93.829 | −0.065% | $18.9M | $60.7M | 20x | as long as short |
| Lighter RH HYPE | +0.0096% | 1h | 93.821 | −0.073% | $3.0M | $12.2M | 20x | as long as short |
| Popdex HYPEUSDT | +0.0096% | 1h | 93.830 | −0.064% | $64K | $1.2M | 50x | as long as short |
| Aevo HYPE-PERP | +0.0096% | 1h | 93.805 | −0.090% | $399K | $180K | 20x | as long as short |
| Paradex HYPE-USD-PERP | +0.0099% | 8h | 93.880 | −0.011% | $341K | $165K | 20x | as long as short |
| Katana Perps HYPE-USD | +0.0100% | 8h | 93.830 | −0.064% | $31K | $1.6M | 10x | as long as short |
| Nado HYPE-PERP | +0.0100% | 1h | 93.843 | −0.051% | $6.6M | $44.6M | 10x | as long as short |
| Hyperliquid HYPE | +0.0100% | 1h | 93.880 | −0.011% | $2.05B | $668.7M | 10x | as long as short |
| Pacifica HYPE | +0.0100% | 1h | 93.850 | −0.043% | $10.1M | $14.7M | 20x | as long as short |
| KuCoin HYPEUSDTM | +0.0100% | 4h | 93.898 | +0.009% | $46.6M | $18.3M | 75x | as long as short |
| Bitget HYPEUSDT | +0.0100% | 4h | 93.866 | −0.025% | $227.3M | $100.2M | 75x | as long as short |
| BingX HYPE-USDT | +0.0100% | 4h | 93.809 | −0.086% | — | $53.9M | — | as long as short |
| Backpack HYPE_USDC_PERP | +0.0100% | 1h | 93.767 | −0.131% | $7.9M | $10.6M | 20x | as long as short |
| Variational Omni HYPE | +0.0100% | 8h | 93.768 | −0.130% | $31.3M | $53.6M | — | as long as short |
| GRVT HYPE_USDT_Perp | +0.0100% | 4h | 93.999 | +0.116% | $7.6M | $46.1M | 10x | as long as short |
| ApeX Omni HYPEUSDT | +0.0100% | 1h | 94.020 | +0.139% | $340K | $1.1M | 50x | as long as short |
| StandX HYPE-USD | +0.0100% | 1h | 93.866 | −0.025% | $670K | $2.6M | 20x | as long as short |
| Vest HYPE-PERP | +0.0100% | 1h | 93.869 | −0.022% | — | $243K | 5x | as long as short |
| Polymarket Perps HYPE-USD | +0.0100% | 1h | 93.861 | −0.031% | $474K | $2.5M | 20x | as long as short |
| SunX HYPE-USDT | +0.0100% | 4h | 93.881 | −0.010% | $32K | $1.6M | 20x | as long as short |
| SoDEX HYPE-USD | +0.0100% | 1h | 93.802 | −0.094% | $2.0M | $2.0M | 10x | as long as short |
| Bulk HYPE-USD | +0.0100% | 1h | 93.894 | +0.004% | $204K | $10K | 10x | as long as short |
| Extended HYPE-USD | +0.0104% | 1h | 93.883 | −0.007% | $18.4M | $45.1M | 50x | as long as short |
| Coinbase International HYPE-PERP-INTXshort | +0.0144% | 1h | 93.870 | −0.021% | $4.9M | $5.5M | 50x | |
| Injective HYPE/USDC PERP | +0.0205% | 1h | 93.760 | −0.138% | $30K | $338K | 12x | as long as short |
| BloFin HYPE-USDT | +0.0216% | 4h | 93.818 | −0.077% | $17.1M | $12.1M | 75x | as long as short |
| RISEx HYPE/USDC | +0.0222% | 1h | 93.868 | −0.023% | $2.7M | $6.7M | 20x | as long as short |
| Kalshi KXHYPEPERP | +0.0245% | 8h | 93.899 | +0.010% | $1.9M | $5.1M | 2.3x | as long as short |
| Reya HYPERUSDPERP | +0.0252% | 1h | 93.820 | −0.074% | $79K | $143K | 15x | as long as short |
| GMX HYPE/USD [WBTC.b-USDC] | L +0.0333% / S −0.0157% | 1h | 93.843 | −0.050% | $1.4M | — | 100x | as long as short |
| HTX HYPE-USDT | +0.0367% | 4h | 94.000 | +0.117% | $1.5M | $5.9M | 75x | as long as short |
| Deribit HYPE_USDC-PERPETUAL | +0.0400% | 1h | 93.903 | +0.014% | $7.5M | $4.6M | 50x | as long as short |
| Kraken Futures PF_HYPEUSDlong | +0.0673% | 1h | 93.890 | long leg | $20.9M | $29.7M | 50x |
Gate HYPE_USDT
Perpl HYPE
gTrade (Gains Network) HYPE/USD
Aster HYPEUSDT
Derive HYPE-PERP
Bybit HYPEUSDT
Phoenix HYPE
MEXC HYPE_USDT
Binance HYPEUSDT
OKX HYPE-USDT-SWAP
edgeX HYPEUSDC
Bluefin HYPE-PERP
Lighter HYPE
Lighter RH HYPE
Popdex HYPEUSDT
Aevo HYPE-PERP
Paradex HYPE-USD-PERP
Katana Perps HYPE-USD
Nado HYPE-PERP
Hyperliquid HYPE
Pacifica HYPE
KuCoin HYPEUSDTM
Bitget HYPEUSDT
BingX HYPE-USDT
Backpack HYPE_USDC_PERP
Variational Omni HYPE
GRVT HYPE_USDT_Perp
ApeX Omni HYPEUSDT
StandX HYPE-USD
Vest HYPE-PERP
Polymarket Perps HYPE-USD
SunX HYPE-USDT
SoDEX HYPE-USD
Bulk HYPE-USD
Extended HYPE-USD
Injective HYPE/USDC PERP
BloFin HYPE-USDT
RISEx HYPE/USDC
Kalshi KXHYPEPERP
Reya HYPERUSDPERP
GMX HYPE/USD [WBTC.b-USDC]
HTX HYPE-USDT
Deribit HYPE_USDC-PERPETUAL