INIT

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.5669%/8h= −620.8% APRnext payment −$7.09 per $10,000 · paid last 24h +0.832%

Price spread now: Kraken Futures against Hyperliquid+0.156%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

The price spread pays, funding is against you. Kraken Futures is 0.156% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.156% now, against zero (this spread has no 7-day history yet)): +$16 on $10k if it goes back. Holding the pair costs −$170 a day in funding at the current rate, which eats that in about 2 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid INIT	0.08365	0.0100	pay 0.0013% / 1h	59m 40s	$313K	$238K	3x
Short	Kraken Futures PF_INITUSD	0.08378	−0.5569	pay 0.0696% / 1h	59m 40s	$5K	$22K	10x

Funding 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee Kraken FuturesbpOrdersPrice spread, now +0.156%Rate

Funding earned: −$1,190.56
Price spread: +0.156% → 0.000%: $15.65
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$1,193.92
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 20 min ago; Kraken Futures: no order-book sample. Net counts fees only.

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, 20 min ago	1.27 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

INIT on 13 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_INITUSDshort	−0.5569%	1h	0.08378	+0.156%	$5K	$22K	10x
BloFin INIT-USDT	+0.0072%	4h	0.08251	−1.358%	$150K	$112K	25x	as long as short
Hyperliquid INITlong	+0.0100%	1h	0.08365	long leg	$313K	$238K	3x
Aster INITUSDT	+0.0100%	4h	0.08376	+0.131%	$28K	$39K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08373	+0.102%	$3.4M	$4.0M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08356	−0.103%	$1.5M	$1.6M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08368	+0.041%	$140K	$710K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08359	−0.067%	$82K	$57K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08374	+0.112%	$450K	$209K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08372	+0.088%	$325K	$59K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget INITUSDT	+0.0100%	4h	0.08364	−0.007%	$430K	$330K	25x	as long as short
BingX INIT-USDT	+0.0100%	4h	0.08368	+0.041%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08390	+0.304%	$27K	$23K	—	as long as short