Funding you earn now, next payment 23:00 UTC+0.0383%/8h= +41.9% APRnext payment +$0.48 per $10,000 · paid last 24h −0.040%
Price spread now: Injective against Hyperliquid−0.721%113s7-day average −0.638% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.042%+$4 on $10k
+Price spread, last 3 days (all we have)+0.018%+$2 · spread now −0.721%, 7d avg −0.638%
=Together, before fees+0.061%+ Points / potential airdropHyperliquid: Season 2 · farm board+$6 on $10k · with fees, hour by hour
Funding pays, the price is against you. Injective is 0.083% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.721% now, against its 7-day average of −0.638%). If the spread goes back, that is −$8 on $10k: about 17 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.042% in total) that is about 14 days. The two prices were read 113 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 0.042% in total (about 2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.48 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 FET | 0.2025 | 0.0170 | pay 0.0021% / 1h | 39m 24s | $9.0M | $7.9M | 5x |
| Short | Injective FET/USDC PERP | 0.2010 | 0.0553 | get 0.0069% / 1h | 39m 24s | $3K | $166K | 12x |
Hyperliquid FET
Injective FET/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
- $80.35
- Price spread: −0.721% → −0.638%
- −$8.31
- 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
- $63.02
- Costs to cover
- 0.090%
- Break-even
- 1.5 days
Slippage unknown: Hyperliquid: live order book, 3 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, 3 min ago | 0.99 bp | 7.0 bp −$7 | 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.
FET on 20 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit FET_USDC-PERPETUAL | −0.4188% | 1h | 0.2019 | −0.277% | $27K | $200K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0744% | 1h | 0.2022 | −0.128% | $158K | $191K | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0012% | 1h | 0.2023 | −0.081% | $32K | — | 150x | as long as short |
| Gate FET_USDT | +0.0055% | 8h | 0.2022 | −0.128% | $2.7M | $11.9M | 50x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2025 | +0.020% | $343K | $534K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2022 | −0.128% | $31.6M | $107.2M | 75x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2021 | −0.178% | $34.8M | $25.1M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2022 | −0.128% | $10.4M | $19.1M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.2023 | −0.066% | $275K | $317K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2019 | −0.277% | $37K | $5K | 10x | as long as short |
Deribit FET_USDC-PERPETUAL
Coinbase International FET-PERP-INTX
gTrade (Gains Network) FET/USD
Gate FET_USDT
Aster FETUSDT
Binance FETUSDT
MEXC FET_USDT
KuCoin FETUSDTM
Variational Omni FET
Orderly PERP_FET_USDCShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended FET-USD | +0.0104% | 1h | 0.2023 | −0.099% | $34K | $190K | 10x | as long as short |
| OKX FET-USDT-SWAP | +0.0170% | 4h | 0.2025 | +0.020% | $860K | $7.6M | 20x | as long as short |
| Hyperliquid FETlong | +0.0170% | 1h | 0.2025 | long leg | $9.0M | $7.9M | 5x | |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2020 | −0.214% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2022 | −0.128% | $1.7M | $2.6M | 100x | as long as short |
| BingX FET-USDT | +0.0290% | 8h | 0.2025 | +0.020% | — | $5.6M | — | as long as short |
| Bitget FETUSDT | +0.0315% | 8h | 0.2025 | +0.020% | $16.5M | $11.3M | 75x | as long as short |
| Kraken Futures PF_FETUSD | +0.0358% | 1h | 0.2024 | −0.047% | $1.0M | $2.2M | 50x | as long as short |
| Injective FET/USDC PERPshort | +0.0553% | 1h | 0.2010 | −0.721% | $3K | $166K | 12x | |
| Phoenix FET | +0.0599% | 1h | 0.2025 | +0.020% | $27K | $36K | 5x | as long as short |
Extended FET-USD
OKX FET-USDT-SWAP
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
BingX FET-USDT
Bitget FETUSDT
Kraken Futures PF_FETUSD
Phoenix FET