Funding you earn now, next payment 22:00 UTC−0.0704%/8h= −77.1% APRnext payment −$0.88 per $10,000 · paid last 24h −0.185%
Price spread now: Kraken Futures against Hyperliquid−0.126%7-day average −0.094% · you buy dearer than you sell
Net, funding: paid 7d − costs−$134as in the Funding arb table
Net, price: spread back to 7d avg − costs−$87as in the Price arb table
costs, in and out, $10k−$840.837% of the position
Funding, last 7 days−0.499%−$50 on $10k
+Price spread, last 3 days (all we have)+0.166%+$17 · spread now −0.126%, 7d avg −0.094%
=Together, before fees−0.333%+ Points / potential airdropHyperliquid: Season 2 · farm board−$33 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Kraken Futures is 0.032% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.094%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ICP | 2.9800 | 0.0853 | pay 0.0107% / 1h | 11m 18s | $4.7M | $5.0M | 5x |
| Short | Kraken Futures PF_ICPUSD | 2.9762 | 0.0148 | get 0.0019% / 1h | 11m 18s | $487K | $518K | 50x |
Hyperliquid ICP
Kraken Futures PF_ICPUSDFunding 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
- −$147.92
- Price spread: −0.126% → −0.094%
- −$3.16
- Slippage, 4 orders
- −$64.73
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$234.81
- Costs to cover
- 0.837%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 11 min ago; Kraken Futures: live order book, 12 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, 11 min ago | 0.50 bp | 7.9 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 12 min ago | 8.36 bp | 24.1 bp −$24 | 229.3 bp −$2,293 | doesn't fit | doesn't fit |
ICP on 27 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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex ICPUSDT | −0.1352% | 8h | 2.9650 | −0.503% | $1.7M | $778K | 50x | as long as short |
| Deribit ICP_USDC-PERPETUAL | −0.0287% | 1h | 2.9761 | −0.131% | $265 | $464 | 50x | as long as short |
| Variational Omni ICP | −0.0229% | 8h | 2.9754 | −0.155% | $1.1M | $121K | — | as long as short |
| Injective ICP/USDC PERP | −0.0199% | 1h | 2.9665 | −0.453% | $202 | $200K | 12x | as long as short |
| Gate ICP_USDT | −0.0092% | 8h | 2.9730 | −0.235% | $1.9M | $2.7M | 50x | as long as short |
| dYdX ICP-USD | 0.0000% | 1h | 2.9719 | −0.270% | $69K | $4K | 5x | as long as short |
| gTrade (Gains Network) ICP/USD | L +0.0006% / S −0.0010% | 1h | 2.9747 | −0.179% | $27K | — | 150x | as long as short |
| Bybit ICPUSDT | +0.0034% | 8h | 2.9730 | −0.235% | $17.2M | $17.7M | 75x | as long as short |
| Lighter ICP | +0.0096% | 1h | 2.9782 | −0.060% | $166K | $443K | 5x | as long as short |
| Aster ICPUSDT | +0.0100% | 8h | 2.9748 | −0.174% | $187K | $1.5M | 20x | as long as short |
Phemex ICPUSDT
Deribit ICP_USDC-PERPETUAL
Variational Omni ICP
Injective ICP/USDC PERP
Gate ICP_USDT
dYdX ICP-USD
gTrade (Gains Network) ICP/USD
Bybit ICPUSDT
Lighter ICP
Aster ICPUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica ICP | +0.0100% | 1h | 2.9723 | −0.260% | $135K | $11K | 5x | as long as short |
| Binance ICPUSDT | +0.0100% | 8h | 2.9762 | −0.127% | $29.0M | $49.0M | 75x | as long as short |
| OKX ICP-USDT-SWAP | +0.0100% | 8h | 2.9730 | −0.235% | $5.8M | $15.7M | 50x | as long as short |
| MEXC ICP_USDT | +0.0100% | 8h | 2.9740 | −0.201% | $19.5M | $8.6M | 50x | as long as short |
| KuCoin ICPUSDTM | +0.0100% | 8h | 2.9730 | −0.235% | $5.2M | $12.9M | 50x | as long as short |
| Bitget ICPUSDT | +0.0100% | 8h | 2.9750 | −0.168% | $6.8M | $4.5M | 50x | as long as short |
| BingX ICP-USDT | +0.0100% | 8h | 2.9740 | −0.201% | — | $4.9M | — | as long as short |
| edgeX ICPUSDC | +0.0100% | 4h | 2.9784 | −0.054% | $23K | $279K | 10x | as long as short |
| GRVT ICP_USDT_Perp | +0.0100% | 8h | 2.9700 | −0.336% | $568K | $469K | 10x | as long as short |
| SunX ICP-USDT | +0.0100% | 8h | 2.9730 | −0.235% | $2K | $1.7M | 20x | as long as short |
| HTX ICP-USDT | +0.0100% | 8h | 2.9680 | −0.403% | $106K | $219K | 20x | as long as short |
| Extended ICP-USD | +0.0104% | 1h | 2.9746 | −0.181% | $24K | $123K | 10x | as long as short |
| Kraken Futures PF_ICPUSDshort | +0.0148% | 1h | 2.9762 | −0.126% | $487K | $518K | 50x | |
| BloFin ICP-USDT | +0.0220% | 8h | 2.9740 | −0.201% | $1.2M | $2.2M | 75x | as long as short |
| Coinbase International ICP-PERP-INTX | +0.0232% | 1h | 2.9890 | +0.302% | $62K | $89K | 50x | as long as short |
| GMX ICP/USD [WBTC.b-USDC] | L +0.0432% / S −0.0367% | 1h | 2.9753 | −0.157% | $31K | — | 100x | as long as short |
| Hyperliquid ICPlong | +0.0853% | 1h | 2.9800 | long leg | $4.7M | $5.0M | 5x |
Pacifica ICP
Binance ICPUSDT
OKX ICP-USDT-SWAP
MEXC ICP_USDT
KuCoin ICPUSDTM
Bitget ICPUSDT
BingX ICP-USDT
edgeX ICPUSDC
GRVT ICP_USDT_Perp
SunX ICP-USDT
HTX ICP-USDT
Extended ICP-USD
BloFin ICP-USDT
Coinbase International ICP-PERP-INTX
GMX ICP/USD [WBTC.b-USDC]