Funding you earn now, next payment 01:00 UTC+0.0509%/8h= +55.7% APRpaid last 24h +0.111%
Price spread now: Hyperliquid against Binance+0.132%7-day average +0.060% · you sell dearer than you buy
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$370.370% of the position
Funding, last 7 days+0.227%+$23 on $10k
+Price spread, last 7 days−0.114%−$11 · spread now +0.132%, 7d avg +0.060%
=Together, before fees+0.114%+ Points / potential airdropHyperliquid: Season 2 · farm board+$11 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Hyperliquid is 0.072% dearer against Binance than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.060%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.227% in total (about 11.9% a year). A funding rate is set anew for every payment. 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 | Binance INJUSDT | 7.8570 | 0.0100 | pay 0.0100% / 8h | 7h 46m | $35.8M | $94.0M | 75x |
| Short | Hyperliquid INJ | 7.8673 | 0.0609 | get 0.0076% / 1h | 46m 21s | $26.6M | $9.2M | 5x |
Binance INJUSDT
Hyperliquid INJFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Binance. 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
- $106.85
- Price spread: +0.132% → +0.060%
- $7.18
- Slippage, 4 orders
- −$18.02
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $77.02
- Costs to cover
- 0.370%
- Break-even
- 2.0 days
Slippage from Binance: live order book, 11 min ago; Hyperliquid: live order book, 7 min ago.
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 Binance live order book, 11 min ago | 0.64 bp | 8.7 bp −$9 | 18.5 bp −$185 | 150.2 bp −$15.0K | doesn't fit |
| Sell Hyperliquid live order book, 7 min ago | 1.14 bp | 8.7 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
INJ on 24 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit INJUSDT | −0.0334% | 8h | 7.8521 | −0.062% | $22.0M | $31.7M | 50x | as long as short |
| Reya INJRUSDPERP | −0.0200% | 1h | 7.8513 | −0.072% | — | — | 20x | as long as short |
| Deribit INJ_USDC-PERPETUAL | −0.0118% | 1h | 7.8666 | +0.123% | $6K | $24K | 25x | as long as short |
| dYdX INJ-USD | 0.0000% | 1h | 7.8667 | +0.125% | $91K | $8K | 5x | as long as short |
| gTrade (Gains Network) INJ/USD | L +0.0006% / S −0.0002% | 1h | 7.8537 | −0.041% | $3K | — | 150x | as long as short |
| Gate INJ_USDT | +0.0008% | 8h | 7.8560 | −0.012% | $2.8M | $4.9M | 50x | as long as short |
| ApeX Omni INJUSDT | +0.0080% | 1h | 7.8620 | +0.064% | $48K | $349K | 50x | as long as short |
| Variational Omni INJ | +0.0089% | 8h | 7.8563 | −0.009% | $280K | $160K | — | as long as short |
| Aevo INJ-PERP | +0.0096% | 1h | 7.8537 | −0.042% | $71K | — | 3x | as long as short |
| Orderly PERP_INJ_USDC | +0.0100% | 8h | 7.8550 | −0.025% | $38K | $66K | 10x | as long as short |
Bybit INJUSDT
Reya INJRUSDPERP
Deribit INJ_USDC-PERPETUAL
dYdX INJ-USD
gTrade (Gains Network) INJ/USD
Gate INJ_USDT
ApeX Omni INJUSDT
Variational Omni INJ
Aevo INJ-PERP
Orderly PERP_INJ_USDCShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster INJUSDT | +0.0100% | 8h | 7.8692 | +0.156% | $150K | $443K | 20x | as long as short |
| Binance INJUSDTlong | +0.0100% | 8h | 7.8570 | long leg | $35.8M | $94.0M | 75x | |
| OKX INJ-USDT-SWAP | +0.0100% | 8h | 7.8510 | −0.076% | $6.4M | $19.9M | 50x | as long as short |
| KuCoin INJUSDTM | +0.0100% | 8h | 7.8580 | +0.013% | $9.5M | $16.6M | 50x | as long as short |
| Bitget INJUSDT | +0.0100% | 8h | 7.8530 | −0.050% | $14.5M | $10.4M | 75x | as long as short |
| Extended INJ-USD | +0.0104% | 1h | 7.8663 | +0.119% | $117K | $540K | 10x | as long as short |
| Kraken Futures PF_INJUSD | +0.0194% | 1h | 7.8695 | +0.160% | $889K | $3.0M | 50x | as long as short |
| BloFin INJ-USDT | +0.0220% | 8h | 7.8680 | +0.141% | $1.8M | $7.7M | 75x | as long as short |
| BingX INJ-USDT | +0.0271% | 8h | 7.8540 | −0.038% | — | $21.5M | — | as long as short |
| MEXC INJ_USDT | +0.0285% | 8h | 7.8570 | +0.001% | $31.8M | $22.6M | 300x | as long as short |
| GMX INJ/USD [WBTC.b-USDC] | L +0.0356% / S −0.0418% | 1h | 7.8524 | −0.058% | $47K | — | 100x | as long as short |
| Hyperliquid INJshort | +0.0609% | 1h | 7.8673 | +0.132% | $26.6M | $9.2M | 5x | |
| Coinbase International INJ-PERP-INTX | +0.0632% | 1h | 7.8820 | +0.319% | $386K | $663K | 50x | as long as short |
| Injective INJ/USDC PERP | +0.1436% | 1h | 7.9050 | +0.612% | $330K | $12.1M | 30x | as long as short |
Aster INJUSDT
OKX INJ-USDT-SWAP
KuCoin INJUSDTM
Bitget INJUSDT
Extended INJ-USD
Kraken Futures PF_INJUSD
BloFin INJ-USDT
BingX INJ-USDT
MEXC INJ_USDT
GMX INJ/USD [WBTC.b-USDC]
Coinbase International INJ-PERP-INTX
Injective INJ/USDC PERP