After costs, if the gap returns to its 7d average, $10k−$125
spread now+0.007%7d average−0.113%fees + slippage, in and out−$137spread needed1.365%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid XPL | 0.1009 | 0.0117 | pay 0.0015% / 1h | 51m 29s | $67.3M | $33.5M | 10x |
| Short | Kraken Futures PF_XPLUSD | 0.1010 | 0.0520 | get 0.0065% / 1h | 51m 29s | $137K | $382K | 10x |
Hyperliquid XPL
Kraken Futures PF_XPLUSDPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $0.68
- Funding while held
- $12.1
- Slippage, 4 orders
- −$117.51
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$123.73
- Spread needed to break even
- 1.365%
Slippage from Hyperliquid: live order book, 4 min ago; Kraken Futures: live order book, 3 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0403%
- Per $10,000 a day
- +$12.10
- Average in range /8h
- —
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, 4 min ago | 1.48 bp | 7.8 bp −$8 | 19.9 bp −$199 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 41.55 bp | 56.3 bp −$56 | doesn't fit | doesn't fit | doesn't fit |
XPL price on every exchange
against the cheapest. Click to use as the short leg.Reya0.07571cheapest
BloFin0.1002+32.390%ApeX Omni0.1004+32.614%Lighter0.1005+32.786%BingX0.1006+32.892%Bybit0.1006+32.905%Extended0.1006+32.906%OKX0.1006+32.931%Orderly0.1006+32.931%Binance0.1006+32.940%Paradex0.1007+32.957%dYdX0.1007+32.976%HTX0.1007+32.997%gTrade (Gains Network)0.1007+33.034%MEXC0.1007+33.050%Aster0.1007+33.064%GMX0.1008+33.080%Pacifica0.1008+33.113%KuCoin0.1008+33.116%Gate0.1008+33.143%SunX0.1008+33.143%Nado0.1008+33.156%Bitget0.1008+33.195%Backpack0.1008+33.195%Polymarket Perps0.1008+33.209%SoDEX0.1009+33.275%Deribit0.1009+33.275%
Reya
BloFin
ApeX Omni
Lighter
BingX
Bybit
Extended
OKX
Orderly
Binance
Paradex
dYdX
HTX
gTrade (Gains Network)
MEXC
Aster
GMX
Pacifica
KuCoin
Gate
SunX
Nado
Bitget
Backpack
Polymarket Perps
SoDEX
DeribitHyperliquid0.1009+33.341%
Kraken Futures0.1010+33.350%
Aevo0.1010+33.354%Coinbase International0.1010+33.354%Phoenix0.1010+33.446%Bulk0.1020+34.686%Variational Omni0.1020+34.762%
Aevo
Coinbase International
Phoenix
Bulk
Variational OmniXPL on 34 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Reya XPLRUSDPERP | −25.004% | 0.0000% | 1h | — | — | — | as long as short |
| BloFin XPL-USDT | −0.713% | +0.0340% | 4h | $1.9M | $1.1M | 75x | as long as short |
| ApeX Omni XPLUSDT | −0.545% | +0.0100% | 1h | $31K | $83K | 50x | as long as short |
| Lighter XPL | −0.416% | −0.1176% | 1h | $4.5M | $3.8M | 10x | as long as short |
| BingX XPL-USDT | −0.337% | +0.0100% | 4h | — | $7.9M | — | as long as short |
| Bybit XPLUSDT | −0.327% | +0.0100% | 4h | $49.2M | $43.8M | 75x | as long as short |
| Extended XPL-USD | −0.326% | +0.0104% | 1h | $643K | $752K | 25x | as long as short |
| OKX XPL-USDT-SWAP | −0.307% | +0.0100% | 4h | $9.9M | $50.4M | 50x | as long as short |
| Orderly PERP_XPL_USDC | −0.307% | +0.0046% | 4h | $28K | $331K | 10x | as long as short |
| Binance XPLUSDT | −0.300% | +0.0100% | 4h | $47.3M | $86.9M | 75x | as long as short |
Show all 34 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Paradex XPL-USD-PERP | −0.288% | +0.0095% | 8h | $12K | $946 | 5x | as long as short |
| dYdX XPL-USD | −0.274% | 0.0000% | 1h | $8K | — | 5x | as long as short |
| HTX XPL-USDT | −0.258% | +0.0100% | 4h | $149K | $251K | 20x | as long as short |
| gTrade (Gains Network) XPL/USD | −0.230% | L +0.0005% / S −0.0004% | 1h | $73K | — | 150x | as long as short |
| MEXC XPL_USDT | −0.218% | +0.0100% | 4h | $14.1M | $6.8M | 100x | as long as short |
| Aster XPLUSDT | −0.207% | +0.0100% | 4h | $307K | $401K | 20x | as long as short |
| GMX XPL/USD [WBTC.b-USDC] | −0.195% | L −0.0033% / S +0.0446% | 1h | $134K | — | 100x | as long as short |
| Pacifica XPL | −0.170% | +0.0100% | 1h | $227K | $18K | 10x | as long as short |
| KuCoin XPLUSDTM | −0.168% | +0.0100% | 4h | $2.7M | $1.3M | 50x | as long as short |
| Gate XPL_USDT | −0.149% | +0.0100% | 4h | $3.1M | $3.7M | 75x | as long as short |
| SunX XPL-USDT | −0.149% | +0.0100% | 4h | $3K | $1.8M | 20x | as long as short |
| Nado XPL-PERP | −0.139% | +0.0100% | 1h | $1.4M | $2.2M | 10x | as long as short |
| Bitget XPLUSDT | −0.109% | +0.0100% | 4h | $9.1M | $10.0M | 75x | as long as short |
| Backpack XPL_USDC_PERP | −0.109% | −0.0745% | 1h | $184K | $277K | 10x | as long as short |
| Polymarket Perps XPL-USD | −0.099% | +0.0100% | 1h | $137K | $3.6M | 10x | as long as short |
| SoDEX XPL-USD | −0.050% | +0.0100% | 1h | $303 | $9K | 10x | as long as short |
| Deribit XPL_USDC-PERPETUAL | −0.050% | 0.0000% | 1h | $46K | $10K | 25x | as long as short |
| Hyperliquid XPLlong | 0.000% | +0.0117% | 1h | $67.3M | $33.5M | 10x | |
| Kraken Futures PF_XPLUSDshort | +0.007% | +0.0520% | 1h | $137K | $382K | 10x | |
| Aevo XPL-PERP | +0.010% | +0.0104% | 1h | $39K | $5K | 3x | as long as short |
| Coinbase International XPL-PERP-INTX | +0.010% | +0.0880% | 1h | $106K | $121K | 50x | as long as short |
| Phoenix XPL | +0.079% | +0.0391% | 1h | $219K | $528K | 10x | as long as short |
| Bulk XPL-USD | +1.009% | +0.0100% | 1h | $143K | $35K | 10x | as long as short |
| Variational Omni XPL | +1.066% | +0.0100% | 4h | $1.9M | $1.4M | — | as long as short |