Funding you earn now, next payment 06:00 UTC+0.1148%/8h= +125.8% APRnext payment +$1.44 per $10,000 · paid last 24h +0.346%
Price spread now: Kraken Futures against Hyperliquid+0.606%50s7-day average +0.074% · you sell dearer than you buy
Net, funding: paid 7d − costs−$718as 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−$7397.393% of the position
Funding, last 7 days+0.216%+$22 on $10k
+Price spread, last 4 days (all we have)−0.544%−$54 · spread now +0.606%, 7d avg +0.074%
=Together, before fees−0.329%+ Points / potential airdropHyperliquid: Season 2 · farm board−$33 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$34 a day on $10k at the current rate, and Kraken Futures is 0.532% dearer against Hyperliquid than usual: you sell high and buy low: +$53 more if the spread goes back to its 7-day average of +0.074%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.216% in total (about 11.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.44 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 TRB | 18.917 | 0.0100 | pay 0.0013% / 1h | 34m 19s | $472K | $268K | 3x |
| Short | Kraken Futures PF_TRBUSD | 19.032 | 0.1248 | get 0.0156% / 1h | 34m 19s | $101K | $102K | 10x |
Hyperliquid TRB
Kraken Futures PF_TRBUSDFunding 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
- $241.17
- Price spread: +0.606% → +0.074%
- $53.15
- Slippage, 4 orders
- −$720.3
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$444.99
- Costs to cover
- 7.393%
- Break-even
- 19.9 days
Slippage from Hyperliquid: live order book, 45 min ago; Kraken Futures: live order book, 13 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, 45 min ago | 1.30 bp | 18.1 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 13 min ago | 13.11 bp | 43.7 bp −$44 | doesn't fit | doesn't fit | doesn't fit |
TRB 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin TRB-USDT | +0.0048% | 4h | 19.009 | +0.486% | $359K | $170K | 50x | as long as short |
| Hyperliquid TRBlong | +0.0100% | 1h | 18.917 | long leg | $472K | $268K | 3x | |
| Aster TRBUSDT | +0.0100% | 4h | 18.923 | +0.032% | $7K | $24K | 5x | as long as short |
| Binance TRBUSDT | +0.0100% | 4h | 18.904 | −0.069% | $5.0M | $11.5M | 50x | as long as short |
| Bybit TRBUSDT | +0.0100% | 4h | 18.938 | +0.111% | $6.2M | $2.2M | 50x | as long as short |
| OKX TRB-USDT-SWAP | +0.0100% | 4h | 18.900 | −0.090% | $4.3M | $5.2M | 20x | as long as short |
| Gate TRB_USDT | +0.0100% | 4h | 18.990 | +0.386% | $618K | $2.1M | 50x | as long as short |
| MEXC TRB_USDT | +0.0100% | 4h | 18.923 | +0.032% | $15.1M | $1.1M | 125x | as long as short |
| KuCoin TRBUSDTM | +0.0100% | 4h | 18.968 | +0.270% | $1.1M | $325K | 50x | as long as short |
| Bitget TRBUSDT | +0.0100% | 4h | 18.917 | 0.000% | $1.3M | $1.5M | 50x | as long as short |
BloFin TRB-USDT
Aster TRBUSDT
Binance TRBUSDT
Bybit TRBUSDT
OKX TRB-USDT-SWAP
Gate TRB_USDT
MEXC TRB_USDT
KuCoin TRBUSDTM
Bitget TRBUSDTShow all 13 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX TRB-USDT | +0.0100% | 4h | 18.924 | +0.037% | — | $18.2M | — | as long as short |
| Variational Omni TRB | +0.0100% | 4h | 18.986 | +0.365% | $15K | $4K | — | as long as short |
| Kraken Futures PF_TRBUSDshort | +0.1248% | 1h | 19.032 | +0.606% | $101K | $102K | 10x |
BingX TRB-USDT
Variational Omni TRB