Funding you earn now, next payment 23:00 UTC−0.0575%/8h= −62.9% APRpaid last 24h −0.092%
Price spread now: KuCoin against Hyperliquid−0.201%7-day average −0.091% · you buy dearer than you sell
Net, funding: paid 7d − costs−$83as in the Funding arb table
Net, price: spread back to 7d avg − costs−$78as in the Price arb table
costs, in and out, $10k−$670.670% of the position
Funding, last 7 days−0.159%−$16 on $10k
+Price spread, last 7 days+0.143%+$14 · spread now −0.201%, 7d avg −0.091%
=Together, before fees−0.017%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and KuCoin is 0.110% cheaper against Hyperliquid than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.091%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.159% in total (about -8.3% a year). A funding rate is set anew for every payment. 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 ICP | 3.0061 | 0.0675 | pay 0.0084% / 1h | 17m 49s | $4.8M | $5.0M | 5x |
| Short | KuCoin ICPUSDTM | 3.0000 | 0.0100 | get 0.0100% / 8h | 1h 17m | $5.1M | $13.0M | 50x |
Hyperliquid ICP
KuCoin ICPUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$120.66
- Price spread: −0.201% → −0.091%
- −$10.98
- Slippage, 4 orders
- −$45.96
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$198.6
- Costs to cover
- 0.670%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 4 min ago; KuCoin: live order book, 6 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, 4 min ago | 1.00 bp | 9.5 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 6 min ago | 3.33 bp | 22.5 bp −$22 | 63.2 bp −$632 | 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 | −0.1485% | 8h | 2.9830 | −0.767% | $1.7M | $772K | 50x | as long as short |
| Variational Omni ICP | −0.0166% | 8h | 2.9981 | −0.264% | $1.1M | $107K | — | as long as short |
| Injective ICP/USDC PERP | −0.0152% | 1h | 2.9665 | −1.316% | $202 | $200K | 12x | as long as short |
| Gate ICP_USDT | −0.0056% | 8h | 3.0000 | −0.201% | $1.9M | $2.8M | 50x | as long as short |
| dYdX ICP-USD | 0.0000% | 1h | 3.0029 | −0.105% | $70K | $4K | 5x | as long as short |
| Deribit ICP_USDC-PERPETUAL | 0.0000% | 1h | 3.0015 | −0.151% | $267 | $464 | 50x | as long as short |
| gTrade (Gains Network) ICP/USD | L +0.0006% / S −0.0010% | 1h | 3.0025 | −0.119% | $27K | — | 150x | as long as short |
| Lighter ICP | +0.0096% | 1h | 3.0035 | −0.085% | $166K | $443K | 5x | as long as short |
| Aster ICPUSDT | +0.0100% | 8h | 3.0030 | −0.101% | $203K | $1.4M | 20x | as long as short |
| Pacifica ICP | +0.0100% | 1h | 3.0016 | −0.147% | $136K | $11K | 5x | as long as short |
Phemex ICPUSDT
Variational Omni ICP
Injective ICP/USDC PERP
Gate ICP_USDT
dYdX ICP-USD
Deribit ICP_USDC-PERPETUAL
gTrade (Gains Network) ICP/USD
Lighter ICP
Aster ICPUSDT
Pacifica ICPShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ICPUSDT | +0.0100% | 8h | 3.0003 | −0.192% | $29.7M | $50.3M | 75x | as long as short |
| Bybit ICPUSDT | +0.0100% | 8h | 2.9980 | −0.268% | $17.4M | $17.9M | 75x | as long as short |
| OKX ICP-USDT-SWAP | +0.0100% | 8h | 2.9990 | −0.235% | $5.9M | $16.1M | 50x | as long as short |
| MEXC ICP_USDT | +0.0100% | 8h | 3.0010 | −0.168% | $19.6M | $8.8M | 50x | as long as short |
| KuCoin ICPUSDTMshort | +0.0100% | 8h | 3.0000 | −0.201% | $5.1M | $13.0M | 50x | |
| Bitget ICPUSDT | +0.0100% | 8h | 3.0000 | −0.201% | $6.9M | $4.5M | 50x | as long as short |
| BingX ICP-USDT | +0.0100% | 8h | 3.0000 | −0.201% | — | $4.9M | — | as long as short |
| edgeX ICPUSDC | +0.0100% | 4h | 3.0006 | −0.180% | $23K | $278K | 10x | as long as short |
| GRVT ICP_USDT_Perp | +0.0100% | 8h | 3.0006 | −0.182% | $575K | $435K | 10x | as long as short |
| SunX ICP-USDT | +0.0100% | 8h | 3.0010 | −0.168% | $956 | $1.8M | 20x | as long as short |
| HTX ICP-USDT | +0.0100% | 8h | 2.9960 | −0.334% | $106K | $219K | 20x | as long as short |
| Extended ICP-USD | +0.0104% | 1h | 3.0004 | −0.188% | $25K | $118K | 10x | as long as short |
| BloFin ICP-USDT | +0.0220% | 8h | 3.0040 | −0.068% | $1.2M | $2.3M | 75x | as long as short |
| Kraken Futures PF_ICPUSD | +0.0223% | 1h | 3.0036 | −0.080% | $487K | $528K | 50x | as long as short |
| Coinbase International ICP-PERP-INTX | +0.0240% | 1h | 3.0030 | −0.101% | $63K | $91K | 50x | as long as short |
| GMX ICP/USD [WBTC.b-USDC] | L +0.0505% / S −0.0480% | 1h | 3.0013 | −0.158% | $37K | — | 100x | as long as short |
| Hyperliquid ICPlong | +0.0675% | 1h | 3.0061 | long leg | $4.8M | $5.0M | 5x |
Binance ICPUSDT
Bybit ICPUSDT
OKX ICP-USDT-SWAP
MEXC ICP_USDT
Bitget ICPUSDT
BingX ICP-USDT
edgeX ICPUSDC
GRVT ICP_USDT_Perp
SunX ICP-USDT
HTX ICP-USDT
Extended ICP-USD
BloFin ICP-USDT
Kraken Futures PF_ICPUSD
Coinbase International ICP-PERP-INTX
GMX ICP/USD [WBTC.b-USDC]