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: Hyperliquid against Kraken Futures+0.099%50s7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Hyperliquid

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 for this trade now. Funding pays +$19 a day on $10k at the current rate, and Hyperliquid is 0.099% dearer against Kraken Futures than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LAYERUSD	0.07657	−0.0546	get 0.0068% / 1h	37m 30s	$8K	$964	10x
Short	Hyperliquid LAYER	0.07665	0.0100	get 0.0013% / 1h	37m 30s	$590K	$166K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Kraken Futures. 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 Kraken FuturesbpFee HyperliquidbpOrdersPrice spread, now +0.099%Rate

Funding earned: $135.75
Price spread: +0.099% → 0.000%: $9.86
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $126.62
Costs to cover: 0.190%
Break-even: 0.5 days

Slippage unknown: Kraken Futures: no order-book sample; Hyperliquid: live order book, 32 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 32 min ago	0.13 bp	32.4 bp −$32	doesn't fit	doesn't fit	doesn't fit

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_LAYERUSDlong	−0.0546%	1h	0.07657	long leg	$8K	$964	10x
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.006%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0064%	4h	0.07652	−0.070%	$113K	$12K	50x	as long as short
Hyperliquid LAYERshort	+0.0100%	1h	0.07665	+0.099%	$590K	$166K	3x
Aster LAYERUSDT	+0.0100%	4h	0.07651	−0.076%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07652	−0.070%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07650	−0.096%	$706K	$667K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07657	−0.005%	$136K	$55K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07652	−0.070%	$339K	$115K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07659	+0.022%	$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	+0.009%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07660	+0.035%	$26K	$184K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07652	−0.072%	$2K	$174K	5x	as long as short