2Z

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h −0.020%

Price spread now: Injective against Hyperliquid−5.800%7-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 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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 5.800% cheaper against Hyperliquid than usual: you would sell low and buy high (−$580 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid 2Z	0.05287	0.0100	pay 0.0013% / 1h	5m 15s	$665K	$344K	3x
Short	Injective 2Z/USDC PERP	0.04980	0.0033	get 0.0004% / 1h	5m 15s	$867	$213	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −5.800%Rate

Funding earned: −$14
Price spread: −5.800% → 0.000%: −$579.96
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$602.98
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 45 min ago; 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 Hyperliquid live order book, 45 min ago	1.25 bp	21.3 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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.

2Z on 17 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_2ZUSD	−0.3864%	1h	0.05246	−0.765%	$5K	$3K	10x	as long as short
Backpack 2Z_USDC_PERP	−0.0072%	1h	0.05287	+0.008%	$47K	$21K	5x	as long as short
Injective 2Z/USDC PERPshort	+0.0033%	1h	0.04980	−5.800%	$867	$213	5.5x
Lighter 2Z	+0.0096%	1h	0.05296	+0.178%	$17K	$5K	3x	as long as short
Hyperliquid 2Zlong	+0.0100%	1h	0.05287	long leg	$665K	$344K	3x
Aster 2ZUSDT	+0.0100%	4h	0.05289	+0.038%	$12K	$55K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05290	+0.064%	$76K	$14K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05283	−0.068%	$2.1M	$2.1M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05292	+0.102%	$750K	$1.0M	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05289	+0.045%	$439K	$753K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate 2Z_USDT	+0.0100%	4h	0.05285	−0.030%	$95K	$77K	50x	as long as short
MEXC 2Z_USDT	+0.0100%	4h	0.05292	+0.102%	$340K	$142K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05286	−0.015%	$174K	$64K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05283	−0.068%	$173K	$720K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05285	−0.030%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05290	+0.057%	$33K	$23K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05287	+0.008%	$2K	$1.1M	20x	as long as short