Funding you earn now, next payment 06:00 UTC−0.1156%/8h= −126.6% APRnext payment −$1.45 per $10,000 · paid last 24h −0.346%
Price spread now: Hyperliquid against Kraken Futures−0.033%7-day average −0.074% · you buy dearer than you sell
Net, funding: paid 7d − costs−$761as in the Funding arb table
Net, price: spread back to 7d avg − costs−$735as in the Price arb table
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)−0.029%−$3 · spread now −0.033%, 7d avg −0.074%
=Together, before fees−0.245%+ Points / potential airdropHyperliquid: Season 2 · farm board−$24 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.042% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.033% now, against its 7-day average of −0.074%): +$4 on $10k if it goes back. Holding the pair costs −$35 a day in funding at the current rate, which eats that in about 3 hours. At the pace of the last 7 days (−0.216% in total) that is about 33 hours.
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 −$1.45 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_TRBUSD | 18.915 | 0.1256 | pay 0.0157% / 1h | 34m 14s | $101K | $102K | 10x |
| Short | Hyperliquid TRB | 18.909 | 0.0100 | get 0.0013% / 1h | 34m 14s | $472K | $268K | 3x |
Kraken Futures PF_TRBUSD
Hyperliquid TRBFunding 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
- −$242.78
- Price spread: −0.033% → −0.074%
- $4.17
- Slippage, 4 orders
- −$720.3
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$977.91
- Costs to cover
- 7.393%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 13 min ago; Hyperliquid: live order book, 45 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, 13 min ago | 13.11 bp | 653.3 bp −$653 | 17305.9 bp −$173.1K | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 45 min ago | 1.30 bp | 24.2 bp −$24 | 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 | +0.496% | $359K | $170K | 50x | as long as short |
| Hyperliquid TRBshort | +0.0100% | 1h | 18.909 | −0.033% | $472K | $268K | 3x | |
| Aster TRBUSDT | +0.0100% | 4h | 18.923 | +0.041% | $7K | $24K | 5x | as long as short |
| Binance TRBUSDT | +0.0100% | 4h | 18.903 | −0.064% | $5.0M | $11.5M | 50x | as long as short |
| Bybit TRBUSDT | +0.0100% | 4h | 18.936 | +0.110% | $6.2M | $2.2M | 50x | as long as short |
| OKX TRB-USDT-SWAP | +0.0100% | 4h | 18.900 | −0.080% | $4.3M | $5.2M | 20x | as long as short |
| Gate TRB_USDT | +0.0100% | 4h | 18.980 | +0.343% | $618K | $2.1M | 50x | as long as short |
| MEXC TRB_USDT | +0.0100% | 4h | 18.902 | −0.070% | $15.1M | $1.1M | 125x | as long as short |
| KuCoin TRBUSDTM | +0.0100% | 4h | 18.952 | +0.195% | $1.1M | $325K | 50x | as long as short |
| Bitget TRBUSDT | +0.0100% | 4h | 18.919 | +0.020% | $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 | 18.917 | +0.010% | — | $18.2M | — | as long as short |
| Variational Omni TRB | +0.0100% | 4h | 18.986 | +0.375% | $15K | $4K | — | as long as short |
| Kraken Futures PF_TRBUSDlong | +0.1256% | 1h | 18.915 | long leg | $101K | $102K | 10x |
BingX TRB-USDT
Variational Omni TRB