Funding you earn now, next payment 01:00 UTC+0.1078%/8h= +118.0% APRnext payment +$1.35 per $10,000 · paid last 24h −0.059%
Price spread now: Hyperliquid against Kraken Futures−0.016%7-day average +0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$52as in the Funding arb table
Net, price: spread back to 7d avg − costs−$58as in the Price arb table
costs, in and out, $10k−$530.531% of the position
Funding, last 7 days+0.015%+$2 on $10k
+Price spread, last 3 days (all we have)+0.109%+$11 · spread now −0.016%, 7d avg +0.031%
=Together, before fees+0.124%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.048% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.016% now, against its 7-day average of +0.031%). If the spread goes back, that is −$5 on $10k: about 4 hours of funding at the current rate (+$32 a day). At the pace of the last 7 days (+0.015% in total) that is about 22 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.015% in total (about 0.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.35 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_ONDOUSD | 0.4632 | −0.0862 | get 0.0108% / 1h | 35m 27s | $2.8M | $8.0M | 50x |
| Short | Hyperliquid ONDO | 0.4631 | 0.0215 | get 0.0027% / 1h | 35m 27s | $41.2M | $25.4M | 10x |
Kraken Futures PF_ONDOUSD
Hyperliquid ONDOFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $226.28
- Price spread: −0.016% → +0.031%
- −$4.75
- Slippage, 4 orders
- −$34.09
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $168.44
- Costs to cover
- 0.531%
- Break-even
- 1.8 days
Slippage from Kraken Futures: live order book, 4 min ago; Hyperliquid: live order book, 8 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 | 4.38 bp | 20.2 bp −$20 | 27.6 bp −$276 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 8 min ago | 1.20 bp | 9.0 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
ONDO on 39 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_ONDOUSDlong | −0.0862% | 1h | 0.4632 | long leg | $2.8M | $8.0M | 50x | |
| dYdX ONDO-USD | 0.0000% | 1h | 0.4625 | −0.142% | $262K | $131K | 5x | as long as short |
| gTrade (Gains Network) ONDO/USD | L +0.0003% / S −0.0008% | 1h | 0.4627 | −0.104% | $6K | — | 150x | as long as short |
| Injective ONDO/USDC PERP | +0.0033% | 1h | 0.4568 | −1.381% | $888 | $216K | 5.5x | as long as short |
| Gate ONDO_USDT | +0.0094% | 4h | 0.4626 | −0.128% | $12.1M | $16.6M | 50x | as long as short |
| Orderly PERP_ONDO_USDC | +0.0098% | 4h | 0.4628 | −0.085% | $25K | $6K | 10x | as long as short |
| Nado ONDO-PERP | +0.0100% | 1h | 0.4627 | −0.107% | $434K | $710K | 10x | as long as short |
| Aster ONDOUSDT | +0.0100% | 4h | 0.4632 | +0.003% | $731K | $2.2M | 20x | as long as short |
| Binance ONDOUSDT | +0.0100% | 4h | 0.4631 | −0.019% | $69.4M | $225.2M | 75x | as long as short |
| Bybit ONDOUSDT | +0.0100% | 4h | 0.4628 | −0.085% | $75.0M | $120.2M | 50x | as long as short |
dYdX ONDO-USD
gTrade (Gains Network) ONDO/USD
Injective ONDO/USDC PERP
Gate ONDO_USDT
Orderly PERP_ONDO_USDC
Nado ONDO-PERP
Aster ONDOUSDT
Binance ONDOUSDT
Bybit ONDOUSDTShow all 39 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ONDO-USDT-SWAP | +0.0100% | 4h | 0.4630 | −0.042% | $17.7M | $80.0M | 50x | as long as short |
| Ondo Perps ONDO-USD.P | +0.0100% | 1h | 0.4622 | −0.217% | $76K | $90K | 10x | as long as short |
| RISEx ONDO/USDC | +0.0100% | 1h | 0.4624 | −0.176% | — | — | 5x | as long as short |
| MEXC ONDO_USDT | +0.0100% | 4h | 0.4626 | −0.128% | $50.2M | $41.6M | 200x | as long as short |
| KuCoin ONDOUSDTM | +0.0100% | 4h | 0.4627 | −0.107% | $14.3M | $11.0M | 50x | as long as short |
| Bitget ONDOUSDT | +0.0100% | 4h | 0.4633 | +0.023% | $26.2M | $39.8M | 50x | as long as short |
| BingX ONDO-USDT | +0.0100% | 4h | 0.4627 | −0.107% | — | $22.2M | — | as long as short |
| Backpack ONDO_USDC_PERP | +0.0100% | 1h | 0.4630 | −0.036% | $231K | $1.0M | 15x | as long as short |
| Variational Omni ONDO | +0.0100% | 4h | 0.4615 | −0.370% | $820K | $2.0M | — | as long as short |
| edgeX ONDOUSDC | +0.0100% | 4h | 0.4577 | −1.189% | $5K | $319K | 20x | as long as short |
| GRVT ONDO_USDT_Perp | +0.0100% | 4h | 0.4573 | −1.265% | $423K | $959K | 10x | as long as short |
| ApeX Omni ONDOUSDT | +0.0100% | 1h | 0.4606 | −0.560% | $174K | $338K | 50x | as long as short |
| Polymarket Perps ONDO-USD | +0.0100% | 1h | 0.4631 | −0.016% | $73K | $1.1M | 10x | as long as short |
| SunX ONDO-USDT | +0.0100% | 4h | 0.4632 | +0.001% | — | $1.4M | 20x | as long as short |
| SoDEX ONDO-USD | +0.0100% | 1h | 0.4632 | +0.001% | $481 | $14K | 10x | as long as short |
| HTX ONDO-USDT | +0.0100% | 4h | 0.4622 | −0.215% | $136K | $497K | 50x | as long as short |
| Phemex ONDOUSDT | +0.0100% | 4h | 0.4622 | −0.215% | $4.6M | $7.1M | 50x | as long as short |
| Paradex ONDO-USD-PERP | +0.0100% | 8h | 0.4628 | −0.087% | $7K | $9 | 10x | as long as short |
| Extended ONDO-USD | +0.0104% | 1h | 0.4632 | +0.008% | $412K | $836K | 25x | as long as short |
| Aevo ONDO-PERP | +0.0104% | 1h | 0.4634 | +0.035% | $40K | $13K | 3x | as long as short |
| Hyperliquid ONDOshort | +0.0215% | 1h | 0.4631 | −0.016% | $41.2M | $25.4M | 10x | |
| Phoenix ONDO | +0.0244% | 1h | 0.4578 | −1.162% | $38K | $248K | 10x | as long as short |
| 01 Exchange ONDOUSD | +0.0256% | 1h | 0.4631 | −0.016% | $381 | $2K | 10x | as long as short |
| Coinbase International ONDO-PERP-INTX | +0.0280% | 1h | 0.4613 | −0.409% | $299K | $825K | 50x | as long as short |
| BloFin ONDO-USDT | +0.0340% | 4h | 0.4606 | −0.560% | $3.3M | $3.1M | 75x | as long as short |
| Deribit ONDO_USDC-PERPETUAL | +0.0398% | 1h | 0.4630 | −0.042% | $34K | $363K | 25x | as long as short |
| Lighter ONDO | +0.0560% | 1h | 0.4636 | +0.077% | $1.5M | $2.3M | 10x | as long as short |
| GMX ONDO/USD [ETH-USDC] | L +0.0594% / S −0.0188% | 1h | 0.4628 | −0.096% | $552K | — | 100x | as long as short |
| Reya ONDORUSDPERP | +0.1145% | 1h | 0.4627 | −0.112% | $2K | — | 20x | as long as short |
OKX ONDO-USDT-SWAP
Ondo Perps ONDO-USD.P
RISEx ONDO/USDC
MEXC ONDO_USDT
KuCoin ONDOUSDTM
Bitget ONDOUSDT
BingX ONDO-USDT
Backpack ONDO_USDC_PERP
Variational Omni ONDO
edgeX ONDOUSDC
GRVT ONDO_USDT_Perp
ApeX Omni ONDOUSDT
Polymarket Perps ONDO-USD
SunX ONDO-USDT
SoDEX ONDO-USD
HTX ONDO-USDT
Phemex ONDOUSDT
Paradex ONDO-USD-PERP
Extended ONDO-USD
Aevo ONDO-PERP
Phoenix ONDO
01 Exchange ONDOUSD
Coinbase International ONDO-PERP-INTX
BloFin ONDO-USDT
Deribit ONDO_USDC-PERPETUAL
Lighter ONDO
GMX ONDO/USD [ETH-USDC]
Reya ONDORUSDPERP