Funding you earn now, next payment 05:00 UTC+0.0618%/8h= +67.7% APRnext payment +$0.77 per $10,000 · paid last 24h +0.066%
Price spread now: Hyperliquid against Injective−1.647%53s7-day average +0.702% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.003%$0 on $10k
+Price spread, last 4 days (all we have)+2.350%+$235 · spread now −1.647%, 7d avg +0.702%
=Together, before fees+2.352%+ Points / potential airdropHyperliquid: Season 2 · farm board+$235 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 2.349% cheaper against Injective than usual: you would sell low and buy high (spread −1.647% now, against its 7-day average of +0.702%). If the spread goes back, that is −$235 on $10k: about 13 days of funding at the current rate (+$19 a day). At the pace of the last 7 days (+0.003% in total) that is about years. 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 0.003% in total (about 0.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.77 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 | Injective FET/USDC PERP | 0.2010 | 0.0033 | pay 0.0004% / 1h | 8m 35s | $3K | $166K | 12x |
| Short | Hyperliquid FET | 0.1977 | 0.0652 | get 0.0081% / 1h | 8m 35s | $8.5M | $8.4M | 5x |
Injective FET/USDC PERP
Hyperliquid FETFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Injective. 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
- $129.86
- Price spread: −1.647% → +0.702%
- −$234.91
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$114.07
- Costs to cover
- 0.090%
- Break-even
- 13.1 days
Slippage unknown: Injective: no order-book sample; Hyperliquid: live order book, 4 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 Injective no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 4 min ago | 0.25 bp | 11.2 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
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 | −0.4279% | 1h | 0.1978 | −1.592% | $38K | $298K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.1192% | 1h | 0.1983 | −1.343% | $147K | $255K | 50x | as long as short |
| Kraken Futures PF_FETUSD | −0.0370% | 1h | 0.1978 | −1.594% | $969K | $2.2M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0004% | 1h | 0.1976 | −1.668% | $20K | — | 150x | as long as short |
| Injective FET/USDC PERPlong | +0.0033% | 1h | 0.2010 | long leg | $3K | $166K | 12x | |
| Aster FETUSDT | +0.0100% | 8h | 0.1975 | −1.736% | $189K | $809K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.1975 | −1.723% | $30.0M | $114.2M | 75x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.1973 | −1.841% | $2.6M | $12.6M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.1976 | −1.692% | $29.7M | $25.0M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.1976 | −1.692% | $10.3M | $18.6M | 50x | as long as short |
Deribit FET_USDC-PERPETUAL
Coinbase International FET-PERP-INTX
Kraken Futures PF_FETUSD
gTrade (Gains Network) FET/USD
Aster FETUSDT
Binance FETUSDT
Gate FET_USDT
MEXC FET_USDT
KuCoin FETUSDTMShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni FET | +0.0100% | 8h | 0.1987 | −1.138% | $272K | $478K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.1976 | −1.692% | $37K | $7K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.1975 | −1.719% | $33K | $189K | 10x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0301% | 1h | 0.1976 | −1.700% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.1981 | −1.443% | $1.7M | $3.1M | 100x | as long as short |
| Bitget FETUSDT | +0.0232% | 8h | 0.1977 | −1.642% | $16.0M | $12.0M | 75x | as long as short |
| BingX FET-USDT | +0.0232% | 8h | 0.1975 | −1.741% | — | $5.9M | — | as long as short |
| OKX FET-USDT-SWAP | +0.0376% | 4h | 0.1977 | −1.642% | $989K | $8.0M | 20x | as long as short |
| Phoenix FET | +0.0435% | 1h | 0.1984 | −1.289% | $35K | $38K | 5x | as long as short |
| Hyperliquid FETshort | +0.0652% | 1h | 0.1977 | −1.647% | $8.5M | $8.4M | 5x |
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
Bitget FETUSDT
BingX FET-USDT
OKX FET-USDT-SWAP
Phoenix FET