Funding you earn now, next payment 03:00 UTC+0.0186%/8h= +20.4% APRnext payment +$0.23 per $10,000 · paid last 24h −0.110%
Price spread now: Kraken Futures against Hyperliquid+0.245%7-day average −0.050% · you sell dearer than you buy
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$530.527% of the position
Funding, last 7 days+0.103%+$10 on $10k
+Price spread, last 4 days (all we have)−0.382%−$38 · spread now +0.245%, 7d avg −0.050%
=Together, before fees−0.279%+ Points / potential airdropHyperliquid: Season 2 · farm board−$28 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 Kraken Futures is 0.295% dearer against Hyperliquid than usual: you sell high and buy low: +$29 more if the spread goes back to its 7-day average of −0.050%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.103% in total (about 5.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.23 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 INJ | 7.7320 | 0.0255 | pay 0.0032% / 1h | 41m 30s | $26.0M | $8.7M | 5x |
| Short | Kraken Futures PF_INJUSD | 7.7509 | 0.0442 | get 0.0055% / 1h | 41m 30s | $859K | $3.0M | 50x |
Hyperliquid INJ
Kraken Futures PF_INJUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $39.13
- Price spread: +0.245% → −0.050%
- $29.5
- Slippage, 4 orders
- −$33.71
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $15.92
- Costs to cover
- 0.527%
- Break-even
- 4.2 days
Slippage from Hyperliquid: live order book, 12 min ago; Kraken Futures: live order book, 2 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, 12 min ago | 0.96 bp | 10.6 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 5.81 bp | 14.3 bp −$14 | 27.0 bp −$270 | 426.2 bp −$42.6K | 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 | 7.7442 | +0.158% | — | — | 20x | as long as short |
| dYdX INJ-USD | 0.0000% | 1h | 7.7205 | −0.149% | $80K | $17K | 5x | as long as short |
| Deribit INJ_USDC-PERPETUAL | 0.0000% | 1h | 7.7462 | +0.184% | $6K | $24K | 25x | as long as short |
| gTrade (Gains Network) INJ/USD | L +0.0006% / S −0.0002% | 1h | 7.7470 | +0.194% | $3K | — | 150x | as long as short |
| Aevo INJ-PERP | +0.0096% | 1h | 7.7438 | +0.153% | $70K | — | 3x | as long as short |
| Aster INJUSDT | +0.0100% | 8h | 7.7338 | +0.024% | $148K | $424K | 20x | as long as short |
| Binance INJUSDT | +0.0100% | 8h | 7.7312 | −0.010% | $35.0M | $90.0M | 75x | as long as short |
| Bybit INJUSDT | +0.0100% | 8h | 7.7340 | +0.026% | $21.9M | $30.5M | 50x | as long as short |
| OKX INJ-USDT-SWAP | +0.0100% | 8h | 7.7330 | +0.013% | $6.3M | $18.4M | 50x | as long as short |
| Gate INJ_USDT | +0.0100% | 8h | 7.7220 | −0.129% | $2.7M | $4.9M | 50x | as long as short |
Reya INJRUSDPERP
dYdX INJ-USD
Deribit INJ_USDC-PERPETUAL
gTrade (Gains Network) INJ/USD
Aevo INJ-PERP
Aster INJUSDT
Binance INJUSDT
Bybit INJUSDT
OKX INJ-USDT-SWAP
Gate INJ_USDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin INJUSDTM | +0.0100% | 8h | 7.7260 | −0.078% | $9.3M | $16.5M | 50x | as long as short |
| Bitget INJUSDT | +0.0100% | 8h | 7.7190 | −0.168% | $14.2M | $9.9M | 75x | as long as short |
| Variational Omni INJ | +0.0100% | 8h | 7.7151 | −0.218% | $272K | $149K | — | as long as short |
| ApeX Omni INJUSDT | +0.0100% | 1h | 7.7420 | +0.129% | $46K | $272K | 50x | as long as short |
| Orderly PERP_INJ_USDC | +0.0100% | 8h | 7.7460 | +0.181% | $34K | $92K | 10x | as long as short |
| Extended INJ-USD | +0.0104% | 1h | 7.7240 | −0.103% | $116K | $364K | 10x | as long as short |
| BloFin INJ-USDT | +0.0220% | 8h | 7.7470 | +0.194% | $1.8M | $6.3M | 75x | as long as short |
| Hyperliquid INJlong | +0.0255% | 1h | 7.7320 | long leg | $26.0M | $8.7M | 5x | |
| GMX INJ/USD [WBTC.b-USDC] | L +0.0269% / S −0.0198% | 1h | 7.7449 | +0.167% | $29K | — | 100x | as long as short |
| BingX INJ-USDT | +0.0271% | 8h | 7.7280 | −0.052% | — | $21.2M | — | as long as short |
| MEXC INJ_USDT | +0.0285% | 8h | 7.7240 | −0.103% | $31.2M | $20.8M | 300x | as long as short |
| Kraken Futures PF_INJUSDshort | +0.0442% | 1h | 7.7509 | +0.245% | $859K | $3.0M | 50x | |
| Coinbase International INJ-PERP-INTX | +0.0640% | 1h | 7.7750 | +0.556% | $382K | $586K | 50x | as long as short |
| Injective INJ/USDC PERP | +0.1331% | 1h | 7.7210 | −0.142% | $322K | $12.1M | 30x | as long as short |
KuCoin INJUSDTM
Bitget INJUSDT
Variational Omni INJ
ApeX Omni INJUSDT
Orderly PERP_INJ_USDC
Extended INJ-USD
BloFin INJ-USDT
GMX INJ/USD [WBTC.b-USDC]
BingX INJ-USDT
MEXC INJ_USDT
Coinbase International INJ-PERP-INTX
Injective INJ/USDC PERP