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: Hyperliquid against Kraken Futures−0.152%7-day average −0.166% · you buy dearer than you sell

Net, funding: paid 7d − costs−$345as in the Funding arb table

Net, price: spread back to 7d avg − costs−$197as in the Price arb table

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

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)+0.001%$0 · spread now −0.152%, 7d avg −0.166%

Together, before fees−1.466%+ Points / potential airdropHyperliquid: Season 2 · farm board−$147 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.166%, so right now this pair is about funding alone: −$37 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ZKUSD	0.01180	0.1332	pay 0.0166% / 1h	27m 40s	$194K	$38K	25x
Short	Hyperliquid ZK	0.01178	0.0100	get 0.0013% / 1h	27m 40s	$588K	$188K	5x

Funding history

latest

Range statsloading…

Hyperliquid against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

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

Position, each leg$Hold fordaysFee Kraken FuturesbpFee HyperliquidbpOrdersPrice spread, now −0.152%Rate

Slippage from Kraken Futures: live order book, 25 min ago; Hyperliquid: live order book, 62 min ago.

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, 25 min ago	39.60 bp	103.1 bp −$103	19311.6 bp −$193.1K	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 62 min ago	2.10 bp	21.2 bp −$21	doesn't fit	doesn't fit	doesn't fit

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	−0.338%	$1.0M	$2.2M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.838%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01179	−0.101%	$135K	$181K	8x	as long as short
Hyperliquid ZKshort	+0.0100%	1h	0.01178	−0.152%	$588K	$188K	5x
Aster ZKUSDT	+0.0100%	4h	0.01179	−0.072%	$32K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01177	−0.262%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01177	−0.262%	$4.9M	$8.1M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01176	−0.296%	$5.1M	$2.4M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01177	−0.245%	$306K	$254K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01177	−0.245%	$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	0.01177	−0.245%	$1.5M	$838K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01177	−0.254%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01180	+0.047%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01179	−0.057%	$153K	$2.3M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01181	+0.094%	$8K	$620K	50x	as long as short
BloFin ZK-USDT	+0.0149%	4h	0.01182	+0.136%	$216K	$21K	75x	as long as short
Kraken Futures PF_ZKUSDlong	+0.1332%	1h	0.01180	long leg	$194K	$38K	25x