Funding you earn now, next payment 23:00 UTC+0.0188%/8h= +20.6% APRnext payment +$0.24 per $10,000 · paid last 24h −0.015%
Price spread now: Injective against Hyperliquid+0.635%53s7-day average −0.342% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.101%+$10 on $10k
+Price spread, last 3 days (all we have)−1.358%−$136 · spread now +0.635%, 7d avg −0.342%
=Together, before fees−1.257%+ Points / potential airdropHyperliquid: Season 2 · farm board−$126 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Injective is 0.977% dearer against Hyperliquid than usual: you sell high and buy low: +$98 more if the spread goes back to its 7-day average of −0.342%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.101% in total (about 5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.24 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ADA | 0.2455 | 0.0100 | pay 0.0013% / 1h | 24m 23s | $42.5M | $14.3M | 10x |
| Short | Injective ADA/USDC PERP | 0.2471 | 0.0288 | get 0.0036% / 1h | 24m 23s | $849 | $202K | 12x |
Hyperliquid ADA
Injective ADA/USDC PERPFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $39.51
- Price spread: +0.635% → −0.342%
- $97.72
- 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
- $128.21
- Costs to cover
- 0.090%
- Break-even
- from the start
Slippage unknown: Hyperliquid: live order book, 9 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, 9 min ago | 0.61 bp | 6.2 bp −$6 | 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.
ADA on 37 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX ADA-USD | 0.0000% | 1h | 0.2455 | −0.015% | $202K | $4K | 10x | as long as short |
| Kalshi KXADAPERP | 0.0000% | 8h | 0.2456 | +0.024% | $154K | $5.9M | 3.2x | as long as short |
| gTrade (Gains Network) ADA/USD | L +0.0005% / S −0.0003% | 1h | 0.2455 | −0.035% | $84K | — | 150x | as long as short |
| Coinbase International ADA-PERP-INTX | +0.0064% | 1h | 0.2450 | −0.220% | $409K | $7.3M | 50x | as long as short |
| Kraken Futures PF_ADAUSD | +0.0095% | 1h | 0.2455 | −0.037% | $6.2M | $11.5M | 50x | as long as short |
| Lighter ADA | +0.0096% | 1h | 0.2458 | +0.110% | $2.4M | $1.3M | 10x | as long as short |
| Hyperliquid ADAlong | +0.0100% | 1h | 0.2455 | long leg | $42.5M | $14.3M | 10x | |
| Aster ADAUSDT | +0.0100% | 8h | 0.2454 | −0.047% | $1.2M | $920K | 75x | as long as short |
| Pacifica ADA | +0.0100% | 1h | 0.2456 | +0.038% | $157K | $146K | 10x | as long as short |
| Binance ADAUSDT | +0.0100% | 8h | 0.2455 | −0.007% | $101.7M | $359.6M | 75x | as long as short |
dYdX ADA-USD
Kalshi KXADAPERP
gTrade (Gains Network) ADA/USD
Coinbase International ADA-PERP-INTX
Kraken Futures PF_ADAUSD
Lighter ADA
Aster ADAUSDT
Pacifica ADA
Binance ADAUSDTShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ADAUSDT | +0.0100% | 8h | 0.2453 | −0.098% | $71.3M | $101.7M | 75x | as long as short |
| OKX ADA-USDT-SWAP | +0.0100% | 8h | 0.2454 | −0.057% | $31.8M | $105.8M | 50x | as long as short |
| Gate ADA_USDT | +0.0100% | 8h | 0.2454 | −0.057% | $96.7M | $58.7M | 75x | as long as short |
| MEXC ADA_USDT | +0.0100% | 8h | 0.2454 | −0.057% | $52.7M | $50.8M | 300x | as long as short |
| KuCoin ADAUSDTM | +0.0100% | 8h | 0.2455 | −0.016% | $30.3M | $18.2M | 75x | as long as short |
| Bitget ADAUSDT | +0.0100% | 8h | 0.2454 | −0.057% | $65.8M | $43.2M | 75x | as long as short |
| BingX ADA-USDC | +0.0100% | 8h | 0.2455 | −0.016% | — | $6.6M | — | as long as short |
| Backpack ADA_USDC_PERP | +0.0100% | 1h | 0.2455 | −0.020% | $101K | $415K | 15x | as long as short |
| Variational Omni ADA | +0.0100% | 8h | 0.2452 | −0.131% | $4.2M | $1.0M | — | as long as short |
| edgeX ADAUSDC | +0.0100% | 4h | 0.2453 | −0.105% | $65K | $279K | 20x | as long as short |
| GRVT ADA_USDT_Perp | +0.0100% | 8h | 0.2453 | −0.092% | $292K | $3.8M | 10x | as long as short |
| ApeX Omni ADAUSDT | +0.0100% | 1h | 0.2455 | −0.016% | $55K | $580K | 50x | as long as short |
| Polymarket Perps ADA-USD | +0.0100% | 1h | 0.2455 | −0.024% | $96K | $624K | 10x | as long as short |
| Orderly PERP_ADA_USDC | +0.0100% | 8h | 0.2454 | −0.057% | $6K | $36K | 20x | as long as short |
| Derive ADA-PERP | +0.0100% | 1h | 0.2455 | −0.024% | $40K | $3K | 5x | as long as short |
| SunX ADA-USDT | +0.0100% | 8h | 0.2454 | −0.057% | $9K | $759K | 30x | as long as short |
| SoDEX ADA-USD | +0.0100% | 1h | 0.2454 | −0.041% | $338 | $13K | 10x | as long as short |
| HTX ADA-USDT | +0.0100% | 8h | 0.2454 | −0.040% | $1.3M | $5.2M | 75x | as long as short |
| Phemex ADAUSDT | +0.0100% | 8h | 0.2454 | −0.057% | $47.9M | $5.8M | 50x | as long as short |
| Paradex ADA-USD-PERP | +0.0100% | 8h | 0.2456 | +0.036% | $21K | $250 | 20x | as long as short |
| Extended ADA-USD | +0.0104% | 1h | 0.2455 | −0.015% | $554K | $1.8M | 50x | as long as short |
| Phoenix ADA | +0.0131% | 1h | 0.2451 | −0.195% | $4K | $74K | 10x | as long as short |
| BloFin ADA-USDT | +0.0220% | 8h | 0.2450 | −0.220% | $4.4M | $5.4M | 75x | as long as short |
| Reya ADARUSDPERP | +0.0285% | 1h | 0.2454 | −0.053% | $1K | — | 15x | as long as short |
| Injective ADA/USDC PERPshort | +0.0288% | 1h | 0.2471 | +0.635% | $849 | $202K | 12x | |
| Deribit ADA_USDC-PERPETUAL | +0.0361% | 1h | 0.2455 | −0.008% | $479K | $352K | 50x | as long as short |
| GMX ADA/USD [WBTC.b-USDC] | L +0.0565% / S −0.0313% | 1h | 0.2455 | −0.025% | $122K | — | 100x | as long as short |
Bybit ADAUSDT
OKX ADA-USDT-SWAP
Gate ADA_USDT
MEXC ADA_USDT
KuCoin ADAUSDTM
Bitget ADAUSDT
BingX ADA-USDC
Backpack ADA_USDC_PERP
Variational Omni ADA
edgeX ADAUSDC
GRVT ADA_USDT_Perp
ApeX Omni ADAUSDT
Polymarket Perps ADA-USD
Orderly PERP_ADA_USDC
Derive ADA-PERP
SunX ADA-USDT
SoDEX ADA-USD
HTX ADA-USDT
Phemex ADAUSDT
Paradex ADA-USD-PERP
Extended ADA-USD
Phoenix ADA
BloFin ADA-USDT
Reya ADARUSDPERP
Deribit ADA_USDC-PERPETUAL
GMX ADA/USD [WBTC.b-USDC]