Funding arb · Price arb /

LAYER

all LAYER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0412%/8h= +45.2% APRpaid last 24h +0.198%

Price spread now: BloFin against Kraken Futures+0.054%57s7-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 BloFin

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—needs both histories

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and BloFin is 0.054% dearer against Kraken Futures than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 57 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	0.07676	−0.0275	get 0.0034% / 1h	6m 07s	$8K	$54	10x
Short	BloFin LAYER-USDT	0.07680	0.0137	get 0.0069% / 4h	1h 06m	$113K	$15K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.054%Rate

Funding earned: $86.59
Price spread: +0.054% → 0.000%: $5.43
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $70.02
Costs to cover: 0.220%
Break-even: 1.3 days

Slippage unknown: Kraken Futures: no order-book sample; BloFin: live order book, 65 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 BloFin live order book, 65 min ago	1.30 bp	25.2 bp −$25	74.3 bp −$743	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	−0.0275%	1h	0.07676	long leg	$8K	$54	10x
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.235%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07686	+0.126%	$592K	$166K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07673	−0.031%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07673	−0.037%	$2.1M	$2.3M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07671	−0.063%	$716K	$633K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07681	+0.067%	$142K	$40K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07676	+0.002%	$372K	$132K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07671	−0.063%	$1.1M	$109K	50x	as long as short
BingX LAYER-USDT	+0.0100%	4h	0.07678	+0.028%	—	$1.6M	—	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	0.07690	+0.185%	$16K	$192K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07676	−0.002%	$2K	$217K	5x	as long as short
BloFin LAYER-USDTshort	+0.0137%	4h	0.07680	+0.054%	$113K	$15K	50x