LAYER

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h +0.020%

Price spread now: Hyperliquid against Injective+5.037%93s7-day average — · you sell dearer than you buy

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

Long on Injective 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 +$2 a day on $10k at the current rate, and Hyperliquid is 5.037% dearer against Injective than usual: you sell high and buy low: +$504 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 93 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	Injective LAYER/USDC PERP	0.07274	0.0033	pay 0.0004% / 1h	51m 49s	—	$18K	5.5x
Short	Hyperliquid LAYER	0.07640	0.0100	get 0.0013% / 1h	51m 49s	$587K	$162K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Injective. 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 InjectivebpFee HyperliquidbpOrdersPrice spread, now +5.037%Rate

Funding earned: $14
Price spread: +5.037% → 0.000%: $503.71
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $508.69
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Hyperliquid: live order book, 28 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 Injective no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 28 min ago	2.68 bp	56.3 bp −$56	doesn't fit	doesn't fit	doesn't fit

Injective: 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_LAYERUSD	−0.0448%	1h	0.07633	+4.932%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERPlong	+0.0033%	1h	0.07274	long leg	—	$18K	5.5x
BloFin LAYER-USDT	+0.0044%	4h	0.07631	+4.908%	$113K	$12K	50x	as long as short
Hyperliquid LAYERshort	+0.0100%	1h	0.07640	+5.037%	$587K	$162K	3x
Aster LAYERUSDT	+0.0100%	4h	0.07628	+4.869%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07629	+4.877%	$2.1M	$2.3M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07627	+4.853%	$699K	$654K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07635	+4.963%	$137K	$54K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07629	+4.880%	$352K	$112K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07634	+4.949%	$1.1M	$163K	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	0.07630	+4.894%	$26K	$185K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07628	+4.860%	$2K	$174K	5x	as long as short
BingX LAYER-USDT	+0.0172%	4h	0.07636	+4.977%	—	$1.6M	—	as long as short