ZK

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1232%/8h= +134.9% APRnext payment +$1.54 per $10,000 · paid last 24h +0.587%

Price spread now: Kraken Futures against Hyperliquid+0.144%7-day average +0.166% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$201as in the Price arb table

costs, in and out, $10k−$1981.984% of the position

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.466%+$147 on $10k

Price spread, last 4 days (all we have)+0.007%+$1 · spread now +0.144%, 7d avg +0.166%

Together, before fees+1.474%+ Points / potential airdropHyperliquid: Season 2 · farm board+$147 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.022% cheaper against Hyperliquid than usual: you would sell low and buy high (spread +0.144% now, against its 7-day average of +0.166%). If the spread goes back, that is −$2 on $10k: about 1 hour of funding at the current rate (+$37 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ZK	0.01178	0.0100	pay 0.0013% / 1h	27m 56s	$588K	$188K	5x
Short	Kraken Futures PF_ZKUSD	0.01180	0.1332	get 0.0166% / 1h	27m 56s	$194K	$38K	25x

Funding 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee Kraken FuturesbpOrdersPrice spread, now +0.144%Rate

Funding earned: $258.69
Price spread: +0.144% → +0.166%: −$2.25
Slippage, 4 orders: −$179.39
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $58.06
Costs to cover: 1.984%
Break-even: 5.4 days

Slippage from Hyperliquid: live order book, 62 min ago; Kraken Futures: live order book, 24 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, 62 min ago	2.10 bp	23.4 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 24 min ago	39.60 bp	50.7 bp −$51	233.2 bp −$2,332	doesn't fit	doesn't fit

ZK on 17 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
OKX ZK-USDT-SWAP	−0.0039%	4h	0.01176	−0.161%	$1.0M	$2.2M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.696%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01179	+0.068%	$135K	$181K	8x	as long as short
Hyperliquid ZKlong	+0.0100%	1h	0.01178	long leg	$588K	$188K	5x
Aster ZKUSDT	+0.0100%	4h	0.01179	+0.076%	$32K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01179	+0.042%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01178	−0.051%	$4.9M	$8.1M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01176	−0.144%	$5.1M	$2.4M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01178	−0.017%	$307K	$254K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01177	−0.102%	$968K	$1.4M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01178	−0.017%	$1.5M	$838K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01177	−0.110%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01180	+0.190%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01181	+0.238%	$153K	$2.4M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01181	+0.238%	$8K	$620K	50x	as long as short
BloFin ZK-USDT	+0.0149%	4h	0.01182	+0.280%	$216K	$21K	75x	as long as short
Kraken Futures PF_ZKUSDshort	+0.1332%	1h	0.01180	+0.144%	$194K	$38K	25x