LAYER

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0816%/8h= +89.3% APRnext payment +$1.02 per $10,000 · paid last 24h +0.175%

Price spread now: Injective against Kraken Futures−5.728%63s7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Injective

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

Funding pays, the price is against you. Injective is 5.728% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −5.728% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$573 on $10k: about 23 days of funding at the current rate (+$24 a day). The two prices were read 63 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	0.07716	−0.0782	get 0.0098% / 1h	55m 52s	$8K	$964	10x
Short	Injective LAYER/USDC PERP	0.07274	0.0033	get 0.0004% / 1h	55m 52s	—	$18K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −5.728%Rate

Funding earned: $171.26
Price spread: −5.728% → 0.000%: −$572.8
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$411.56
Costs to cover: 0.100%
Break-even: 23.8 days

Slippage unknown: Kraken Futures: no order-book sample; Injective: 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Kraken Futures and 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_LAYERUSDlong	−0.0782%	1h	0.07716	long leg	$8K	$964	10x
Injective LAYER/USDC PERPshort	+0.0033%	1h	0.07274	−5.728%	—	$18K	5.5x
Hyperliquid LAYER	+0.0100%	1h	0.07721	+0.069%	$596K	$170K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07717	+0.017%	$10K	$3K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07717	+0.017%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07705	−0.142%	$710K	$697K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07718	+0.026%	$138K	$52K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07714	−0.026%	$342K	$114K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07721	+0.065%	$1.1M	$166K	50x	as long as short
BingX LAYER-USDT	+0.0100%	4h	0.07723	+0.091%	—	$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	0.07700	−0.207%	$26K	$183K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07716	−0.004%	$2K	$172K	5x	as long as short
BloFin LAYER-USDT	+0.0150%	4h	0.07707	−0.116%	$113K	$13K	50x	as long as short