Funding you earn now, next payment 22:00 UTC+0.0662%/8h= +72.5% APRnext payment +$0.83 per $10,000 · paid last 24h +0.022%
Price spread now: Kraken Futures against Hyperliquid+0.092%7-day average −0.129% · you sell dearer than you buy
Net, funding: paid 7d − costs−$80as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$470.475% of the position
Funding, last 7 days−0.325%−$32 on $10k
+Price spread, last 3 days (all we have)−0.069%−$7 · spread now +0.092%, 7d avg −0.129%
=Together, before fees−0.394%+ Points / potential airdropHyperliquid: Season 2 · farm board−$39 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Kraken Futures is 0.221% dearer against Hyperliquid than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.129%. Mind the row above: over the last 7 days funding on this pair cost −0.325%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.325% in total (about -16.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.83 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 | Hyperliquid kPEPE | 0.000004802 | 0.0100 | pay 0.0013% / 1h | 7m 05s | $58.4M | $72.7M | 10x |
| Short | Kraken Futures PF_PEPEUSD | 0.000004806 | 0.0762 | get 0.0095% / 1h | 7m 05s | $3.9M | $13.1M | 50x |
Hyperliquid kPEPE
Kraken Futures PF_PEPEUSDFunding 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
- $138.99
- Price spread: +0.092% → −0.129%
- $22.13
- Slippage, 4 orders
- −$28.49
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $113.63
- Costs to cover
- 0.475%
- Break-even
- 1.3 days
Slippage from Hyperliquid: live order book, 7 min ago; Kraken Futures: live order book, 2 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, 7 min ago | 1.04 bp | 5.5 bp −$6 | 10.4 bp −$104 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 7.59 bp | 13.0 bp −$13 | 18.2 bp −$182 | 84.0 bp −$8,401 | doesn't fit |
PEPE on 35 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PEPE-USD | 0.0000% | 1h | 0.000004801 | −0.031% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004800 | −0.037% | $14K | — | 150x | as long as short |
| Hyperliquid kPEPElong | +0.0100% | 1h | 0.000004802 | long leg | $58.4M | $72.7M | 10x | |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004806 | +0.083% | $59K | $113K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004805 | +0.071% | $87.4M | $275.5M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004803 | +0.021% | $150.1M | $62.3M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004805 | +0.073% | $24.9M | $53.3M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004820 | +0.383% | $577K | $3.8M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004830 | +0.577% | $27K | $340K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004811 | +0.196% | $1K | $2.4M | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004804 | +0.048% | $553K | $3.4M | 75x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0182% | 8h | 0.000004806 | +0.083% | $41.4M | $485.2M | 50x | as long as short |
| Bitget PEPEUSDT | +0.0184% | 8h | 0.000004803 | +0.029% | $42.4M | $150.9M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004802 | +0.008% | $7K | — | 15x | as long as short |
| BloFin PEPE-USDT | +0.0299% | 8h | 0.000004803 | +0.021% | $3.9M | $21.8M | 75x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0318% / S −0.0217% | 1h | 0.000004000 | −16.701% | $52K | — | 100x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0420% | 8h | 0.000004810 | +0.162% | $29K | $11K | 20x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0464% | 1h | 0.000004808 | +0.125% | $578K | $25.1M | 50x | as long as short |
| Phemex u1000PEPEUSDT | +0.0496% | 8h | 0.000004809 | +0.148% | $2.3M | $6.4M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0530% | 8h | 0.000004802 | +0.007% | $5K | $16 | 20x | as long as short |
| Injective PEPE/USDC PERP | +0.0555% | 1h | 0.000004824 | +0.458% | $4K | $110K | 12x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0583% | 1h | 0.000004807 | +0.104% | $81K | $94K | 25x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0713% | 1h | 0.000004806 | +0.077% | $92K | $624K | 15x | as long as short |
| Lighter 1000PEPE | +0.0744% | 1h | 0.000004813 | +0.229% | $600K | $5.3M | 10x | as long as short |
| Nado kPEPE-PERP | +0.0745% | 1h | 0.000004805 | +0.054% | $188K | $848K | 10x | as long as short |
| SoDEX 1000PEPE-USD | +0.0756% | 1h | 0.000004809 | +0.146% | $2K | $9K | 10x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0759% | 1h | 0.000004830 | +0.583% | $103K | $762K | 25x | as long as short |
| Kraken Futures PF_PEPEUSDshort | +0.0762% | 1h | 0.000004806 | +0.092% | $3.9M | $13.1M | 50x | |
| BingX 1000PEPE-USDT | +0.0827% | 8h | 0.000004806 | +0.083% | — | $254.7M | — | as long as short |
| Extended 1000PEPE-USD | +0.0872% | 1h | 0.000004807 | +0.102% | $529K | $147K | 25x | as long as short |
| MEXC PEPE_USDT | +0.0872% | 8h | 0.000004812 | +0.200% | $91.4M | $292.3M | 300x | as long as short |
| Aevo 1000PEPE-PERP | +0.0872% | 1h | 0.000004813 | +0.229% | $136K | — | 3x | as long as short |
| Binance 1000PEPEUSDT | +0.0873% | 8h | 0.000004810 | +0.158% | $128.2M | $1.02B | 75x | as long as short |
| Aster 1000PEPEUSDT | +0.0901% | 8h | 0.000004804 | +0.044% | $1.5M | $6.9M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.1200% | 1h | 0.000004809 | +0.146% | $551 | $2K | 10x | as long as short |
HTX PEPE-USDT
OKX PEPE-USDT-SWAP
Bitget PEPEUSDT
Reya kPEPERUSDPERP
BloFin PEPE-USDT
GMX PEPE/USD [ETH-USDC]
Orderly PERP_1000PEPE_USDC
Coinbase International 1000PEPE-PERP-INTX
Phemex u1000PEPEUSDT
Paradex kPEPE-USD-PERP
Injective PEPE/USDC PERP
Deribit 1000PEPE_USDC-PERPETUAL
Backpack kPEPE_USDC_PERP
Lighter 1000PEPE
Nado kPEPE-PERP
SoDEX 1000PEPE-USD
ApeX Omni 1000PEPEUSDT
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
MEXC PEPE_USDT
Aevo 1000PEPE-PERP
Binance 1000PEPEUSDT
Aster 1000PEPEUSDT
01 Exchange kPEPEUSD