Funding you earn now, next payment 06:00 UTC−0.0137%/8h= −15.0% APRnext payment −$0.17 per $10,000 · paid last 24h −0.024%
Price spread now: Hyperliquid against Kraken Futures+0.442%50s7-day average −0.081% · you sell dearer than you buy
Net, funding: paid 7d − costs−$124as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$770.769% of the position
Funding, last 7 days−0.470%−$47 on $10k
+Price spread, last 4 days (all we have)−0.492%−$49 · spread now +0.442%, 7d avg −0.081%
=Together, before fees−0.962%+ Points / potential airdropHyperliquid: Season 2 · farm board−$96 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.523% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.442% now, against its 7-day average of −0.081%): +$52 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 13 days. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_PYTHUSD | 0.06285 | 0.0237 | pay 0.0030% / 1h | 20m 27s | $383K | $298K | 25x |
| Short | Hyperliquid PYTH | 0.06313 | 0.0100 | get 0.0013% / 1h | 20m 27s | $2.2M | $1.9M | 5x |
Kraken Futures PF_PYTHUSD
Hyperliquid PYTHFunding 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
- −$28.8
- Price spread: +0.442% → −0.081%
- $52.35
- Slippage, 4 orders
- −$57.87
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$53.32
- Costs to cover
- 0.769%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 27 min ago; Hyperliquid: live order book, just now.
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, 27 min ago | 6.32 bp | 24.7 bp −$25 | 505.9 bp −$5,059 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, just now | 1.82 bp | 26.4 bp −$26 | doesn't fit | doesn't fit | doesn't fit |
PYTH on 23 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack PYTH_USDC_PERP | −0.0413% | 1h | 0.06291 | +0.089% | $38K | $63K | 10x | as long as short |
| Gate PYTH_USDT | −0.0108% | 4h | 0.06304 | +0.304% | $1.0M | $530K | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06303 | +0.286% | $187K | $19 | 5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | 0.0000% | 1h | 0.06281 | −0.062% | $10K | $10K | 10x | as long as short |
| MEXC PYTH_USDT | +0.0008% | 4h | 0.06305 | +0.320% | $10.5M | $2.7M | 125x | as long as short |
| Binance PYTHUSDT | +0.0009% | 4h | 0.06312 | +0.430% | $9.0M | $18.9M | 75x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −0.396% | $553 | $220K | 5.5x | as long as short |
| BloFin PYTH-USDT | +0.0034% | 4h | 0.06247 | −0.603% | $418K | $75K | 75x | as long as short |
| Aevo PYTH-PERP | +0.0080% | 1h | 0.06276 | −0.148% | $22K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06310 | +0.399% | $194K | $210K | 5x | as long as short |
Backpack PYTH_USDC_PERP
Gate PYTH_USDT
dYdX PYTH-USD
Deribit PYTH_USDC-PERPETUAL
MEXC PYTH_USDT
Binance PYTHUSDT
Injective PYTH/USDC PERP
BloFin PYTH-USDT
Aevo PYTH-PERP
Lighter PYTHShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06311 | +0.409% | $3K | — | 10x | as long as short |
| Hyperliquid PYTHshort | +0.0100% | 1h | 0.06313 | +0.442% | $2.2M | $1.9M | 5x | |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06302 | +0.267% | $20K | $45K | 10x | as long as short |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06311 | +0.415% | $7.4M | $4.8M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06311 | +0.415% | $2.1M | $3.5M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06310 | +0.399% | $1.5M | $351K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06306 | +0.336% | $2.6M | $2.2M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06309 | +0.383% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06276 | −0.135% | $38K | $25K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06309 | +0.382% | $2K | $2K | 10x | as long as short |
| Kraken Futures PF_PYTHUSDlong | +0.0237% | 1h | 0.06285 | long leg | $383K | $298K | 25x | |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06306 | +0.339% | — | — | 20x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0312% | 1h | 0.06493 | +3.311% | $40K | $19K | 25x | as long as short |
Paradex PYTH-USD-PERP
Aster PYTHUSDT
Bybit PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP
Coinbase International PYTH-PERP-INTX