LAYER

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0101%/8h= −11.1% APRnext payment −$0.13 per $10,000 · paid last 24h −0.214%

Price spread now: Kraken Futures against Hyperliquid−0.126%50s7-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 −$3 a day on $10k at the current rate, and Kraken Futures is 0.126% cheaper against Hyperliquid than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. 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	Hyperliquid LAYER	0.07694	0.0100	pay 0.0013% / 1h	9m 19s	$597K	$162K	3x
Short	Kraken Futures PF_LAYERUSD	0.07684	−0.0001	pay 0.0000% / 1h	9m 19s	$8K	$54	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 −0.126%Rate

Funding earned: −$21.28
Price spread: −0.126% → 0.000%: −$12.62
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: −$52.9
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 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, 10 min ago	1.36 bp	27.0 bp −$27	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	−0.0001%	1h	0.07684	−0.126%	$8K	$54	10x
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.456%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0070%	4h	0.07691	−0.036%	$115K	$15K	50x	as long as short
Hyperliquid LAYERlong	+0.0100%	1h	0.07694	long leg	$597K	$162K	3x
Aster LAYERUSDT	+0.0100%	4h	0.07678	−0.200%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07679	−0.198%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07668	−0.335%	$717K	$698K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07688	−0.075%	$142K	$41K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07679	−0.192%	$374K	$133K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07681	−0.166%	$1.1M	$119K	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	0.07680	−0.179%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07700	+0.081%	$17K	$192K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07678	−0.208%	$3K	$191K	5x	as long as short