Funding arb · Price arb /

LAYER

all LAYER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against Hyperliquid−0.021%7-day average −0.141% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 4 days (all we have)−0.145%−$14 · spread now −0.021%, 7d avg −0.141%

Together, before fees−0.166%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.120% dearer against Hyperliquid than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.141%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LAYER	0.07615	0.0100	pay 0.0013% / 1h	32m 54s	$591K	$164K	3x
Short	Binance LAYERUSDT	0.07613	0.0100	get 0.0050% / 4h	2h 32m	$2.1M	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.021%Rate

Funding earned: $0
Price spread: −0.021% → −0.141%: $11.96
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$7.04
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 47 min ago; Binance: live order book, 2 min ago. Net counts fees only.

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, 47 min ago	1.36 bp	27.0 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	1.97 bp	29.9 bp −$30	96.2 bp −$962	doesn't fit	doesn't fit

LAYER 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
Kraken Futures PF_LAYERUSD	−0.0417%	1h	0.07611	−0.043%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.473%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0043%	4h	0.07619	+0.058%	$114K	$15K	50x	as long as short
Hyperliquid LAYERlong	+0.0100%	1h	0.07615	long leg	$591K	$164K	3x
Aster LAYERUSDT	+0.0100%	4h	0.07625	+0.137%	$9K	$4K	5x	as long as short
Binance LAYERUSDTshort	+0.0100%	4h	0.07613	−0.021%	$2.1M	$2.4M	50x
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07608	−0.087%	$711K	$665K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07632	+0.229%	$141K	$41K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07611	−0.047%	$370K	$131K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07608	−0.087%	$1.1M	$112K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX LAYER-USDT	+0.0100%	4h	0.07613	−0.021%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07630	+0.202%	$16K	$195K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07609	−0.073%	$2K	$213K	5x	as long as short