LAYER

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0646%/8h= −70.8% APRnext payment −$0.81 per $10,000 · paid last 24h −0.195%

Price spread now: Kraken Futures against Hyperliquid−0.118%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Kraken Futures is 0.118% cheaper against Hyperliquid than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LAYER	0.07666	0.0100	pay 0.0013% / 1h	37m 31s	$591K	$166K	3x
Short	Kraken Futures PF_LAYERUSD	0.07657	−0.0546	pay 0.0068% / 1h	37m 31s	$8K	$964	10x

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 −0.118%Rate

Funding earned: −$135.75
Price spread: −0.118% → 0.000%: −$11.81
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$166.56
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 32 min ago; Kraken Futures: no order-book sample. 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, 32 min ago	0.13 bp	22.6 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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_LAYERUSDshort	−0.0546%	1h	0.07657	−0.118%	$8K	$964	10x
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.118%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0064%	4h	0.07652	−0.188%	$113K	$12K	50x	as long as short
Hyperliquid LAYERlong	+0.0100%	1h	0.07666	long leg	$591K	$166K	3x
Aster LAYERUSDT	+0.0100%	4h	0.07651	−0.194%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07653	−0.172%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07655	−0.149%	$706K	$668K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07657	−0.123%	$136K	$55K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07652	−0.188%	$339K	$115K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07659	−0.097%	$1.1M	$165K	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	0.07658	−0.110%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07660	−0.083%	$26K	$185K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07652	−0.190%	$2K	$174K	5x	as long as short