IO

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0517%/8h= −56.6% APRnext payment −$0.65 per $10,000 · paid last 24h −4.346%

Price spread now: Hyperliquid against Kraken Futures−0.384%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Hyperliquid

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

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Hyperliquid is 0.384% cheaper against Kraken Futures than usual: you would sell low and buy high (−$38 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IOUSD	0.1529	0.0617	pay 0.0077% / 1h	6m 42s	$40K	$18K	10x
Short	Hyperliquid IO	0.1523	0.0100	get 0.0013% / 1h	6m 42s	$1.0M	$383K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 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 Kraken FuturesbpFee HyperliquidbpOrdersPrice spread, now −0.384%Rate

Funding earned: −$108.55
Price spread: −0.384% → 0.000%: −$38.44
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$165.99
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Hyperliquid: live order book, 4 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 4 min ago	1.31 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

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.

IO on 14 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
Hyperliquid IOshort	+0.0100%	1h	0.1523	−0.384%	$1.0M	$383K	3x
Aster IOUSDT	+0.0100%	4h	0.1524	−0.308%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1523	−0.387%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1523	−0.404%	$1.1M	$903K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1523	−0.417%	$241K	$555K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1521	−0.522%	$1.2M	$232K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1523	−0.391%	$362K	$676K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1524	−0.326%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1523	−0.391%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1523	−0.375%	$33K	$8K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1524	−0.319%	$3K	$125K	5x	as long as short
BloFin IO-USDT	+0.0145%	4h	0.1524	−0.326%	$194K	$32K	50x	as long as short
Injective IO/USDC PERP	+0.0414%	1h	0.1517	−0.783%	$2K	$202	5.5x	as long as short
Kraken Futures PF_IOUSDlong	+0.0617%	1h	0.1529	long leg	$40K	$18K	10x