Funding you earn now, next payment 23:00 UTC−0.1368%/8h= −149.8% APRpaid last 24h −0.113%
Price spread now: Bybit against Hyperliquid−0.264%7-day average −0.090% · you buy dearer than you sell
Net, funding: paid 7d − costs−$76as in the Funding arb table
Net, price: spread back to 7d avg − costs−$73as in the Price arb table
costs, in and out, $10k−$560.557% of the position
Funding, last 7 days−0.207%−$21 on $10k
+Price spread, last 7 days+0.234%+$23 · spread now −0.264%, 7d avg −0.090%
=Together, before fees+0.027%+ Points / potential airdropHyperliquid: Season 2 · farm board+$3 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$41 a day on $10k at the current rate, and Bybit is 0.174% cheaper against Hyperliquid than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.090%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.207% in total (about -10.8% 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 | Hyperliquid INJ | 7.8062 | 0.1468 | pay 0.0183% / 1h | 56m 05s | $26.9M | $9.4M | 5x |
| Short | Bybit INJUSDT | 7.7856 | 0.0100 | get 0.0100% / 8h | 1h 56m | $21.6M | $31.9M | 50x |
Hyperliquid INJ
Bybit INJUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$287.26
- Price spread: −0.264% → −0.090%
- −$17.42
- Slippage, 4 orders
- −$35.73
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$360.41
- Costs to cover
- 0.557%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 7 min ago; Bybit: live order book, 3 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 Hyperliquid live order book, 7 min ago | 0.19 bp | 8.9 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 0.64 bp | 20.4 bp −$20 | 47.3 bp −$473 | 137.9 bp −$13.8K | 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya INJRUSDPERP | −0.0200% | 1h | 7.7827 | −0.301% | — | — | 20x | as long as short |
| dYdX INJ-USD | 0.0000% | 1h | 7.7798 | −0.338% | $90K | $10K | 5x | as long as short |
| Deribit INJ_USDC-PERPETUAL | 0.0000% | 1h | 7.7900 | −0.208% | $7K | $23K | 25x | as long as short |
| gTrade (Gains Network) INJ/USD | L +0.0006% / S −0.0002% | 1h | 7.7838 | −0.287% | $3K | — | 150x | as long as short |
| Variational Omni INJ | +0.0087% | 8h | 7.7552 | −0.654% | $271K | $157K | — | as long as short |
| Aevo INJ-PERP | +0.0096% | 1h | 7.7847 | −0.276% | $70K | $13K | 3x | as long as short |
| Orderly PERP_INJ_USDC | +0.0098% | 8h | 7.7870 | −0.246% | $38K | $63K | 10x | as long as short |
| Kraken Futures PF_INJUSD | +0.0099% | 1h | 7.7960 | −0.130% | $888K | $3.2M | 50x | as long as short |
| Aster INJUSDT | +0.0100% | 8h | 7.7875 | −0.239% | $156K | $440K | 20x | as long as short |
| Binance INJUSDT | +0.0100% | 8h | 7.7910 | −0.195% | $35.6M | $94.6M | 75x | as long as short |
Reya INJRUSDPERP
dYdX INJ-USD
Deribit INJ_USDC-PERPETUAL
gTrade (Gains Network) INJ/USD
Variational Omni INJ
Aevo INJ-PERP
Orderly PERP_INJ_USDC
Kraken Futures PF_INJUSD
Aster INJUSDT
Binance INJUSDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit INJUSDTshort | +0.0100% | 8h | 7.7856 | −0.264% | $21.6M | $31.9M | 50x | |
| OKX INJ-USDT-SWAP | +0.0100% | 8h | 7.7850 | −0.272% | $6.4M | $20.2M | 50x | as long as short |
| Gate INJ_USDT | +0.0100% | 8h | 7.7840 | −0.284% | $2.8M | $5.0M | 50x | as long as short |
| KuCoin INJUSDTM | +0.0100% | 8h | 7.7860 | −0.259% | $9.4M | $16.2M | 50x | as long as short |
| Bitget INJUSDT | +0.0100% | 8h | 7.7870 | −0.246% | $14.3M | $10.8M | 75x | as long as short |
| ApeX Omni INJUSDT | +0.0100% | 1h | 7.7680 | −0.489% | $48K | $348K | 50x | as long as short |
| Extended INJ-USD | +0.0104% | 1h | 7.7887 | −0.224% | $118K | $460K | 10x | as long as short |
| BloFin INJ-USDT | +0.0220% | 8h | 7.7790 | −0.348% | $1.8M | $7.6M | 75x | as long as short |
| BingX INJ-USDT | +0.0271% | 8h | 7.7850 | −0.272% | — | $21.3M | — | as long as short |
| MEXC INJ_USDT | +0.0285% | 8h | 7.7900 | −0.208% | $31.9M | $22.6M | 300x | as long as short |
| GMX INJ/USD [WBTC.b-USDC] | L +0.0354% / S −0.0391% | 1h | 7.7851 | −0.271% | $47K | — | 100x | as long as short |
| Coinbase International INJ-PERP-INTX | +0.0640% | 1h | 7.8050 | −0.015% | $390K | $697K | 50x | as long as short |
| Injective INJ/USDC PERP | +0.1367% | 1h | 7.7980 | −0.105% | $319K | $12.1M | 30x | as long as short |
| Hyperliquid INJlong | +0.1468% | 1h | 7.8062 | long leg | $26.9M | $9.4M | 5x |
OKX INJ-USDT-SWAP
Gate INJ_USDT
KuCoin INJUSDTM
Bitget INJUSDT
ApeX Omni INJUSDT
Extended INJ-USD
BloFin INJ-USDT
BingX INJ-USDT
MEXC INJ_USDT
GMX INJ/USD [WBTC.b-USDC]
Coinbase International INJ-PERP-INTX
Injective INJ/USDC PERP