LAYER

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Hyperliquid against Extended+0.062%7-day average +0.172% · you sell dearer than you buy

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$1221.223% of the position

Long on Extended Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 4 days (all we have)+0.198%+$20 · spread now +0.062%, 7d avg +0.172%

Together, before fees+0.217%+ Points / potential airdropExtended: Active · Hyperliquid: Season 2 · farm board+$22 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: Hyperliquid is 0.109% cheaper against Extended than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.172%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LAYER-USD	0.07565	0.0104	pay 0.0013% / 1h	54m 21s	$2K	$174K	5x
Short	Hyperliquid LAYER	0.07570	0.0100	get 0.0013% / 1h	54m 21s	$582K	$162K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Extended. 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 ExtendedbpFee HyperliquidbpOrdersPrice spread, now +0.062%Rate

Funding earned: −$0.84
Price spread: +0.062% → +0.172%: −$10.94
Slippage, 4 orders: −$108.27
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$134.05
Costs to cover: 1.223%
Break-even: never at this rate

Slippage from Extended: live order book, 31 min ago; Hyperliquid: live order book, 30 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 Extended live order book, 31 min ago	4.34 bp	45.4 bp −$45	316.0 bp −$3,160	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 30 min ago	0.92 bp	23.4 bp −$23	doesn't fit	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	−0.0469%	1h	0.07570	+0.068%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−3.849%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0040%	4h	0.07577	+0.156%	$86K	$12K	50x	as long as short
Hyperliquid LAYERshort	+0.0100%	1h	0.07570	+0.062%	$582K	$162K	3x
Aster LAYERUSDT	+0.0100%	4h	0.07570	+0.064%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07566	+0.011%	$2.0M	$2.3M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07556	−0.121%	$695K	$643K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07571	+0.077%	$135K	$53K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07558	−0.095%	$349K	$113K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07564	−0.016%	$1.1M	$161K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07580	+0.196%	$25K	$187K	50x	as long as short
Extended LAYER-USDlong	+0.0104%	1h	0.07565	long leg	$2K	$174K	5x
BingX LAYER-USDT	+0.0408%	4h	0.07568	+0.037%	—	$1.6M	—	as long as short