Funding you earn now, next payment 01:00 UTC−0.0518%/8h= −56.8% APRpaid last 24h −0.111%
Price spread now: Orderly against Hyperliquid−0.028%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.160%−$16 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Orderly is 0.028% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.160% in total (about -8.3% 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 | 7.8742 | 0.0618 | pay 0.0077% / 1h | 43m 17s | $26.6M | $9.2M | 5x |
| Short | Orderly PERP_INJ_USDC | 7.8720 | 0.0100 | get 0.0100% / 8h | 7h 43m | $38K | $66K | 10x |
Hyperliquid INJ
Orderly PERP_INJ_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$108.85
- Price spread: −0.028% → 0.000%
- −$2.79
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$126.64
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 10 min ago; Orderly: 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, 10 min ago | 1.14 bp | 9.2 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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.
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 | −0.0279% | 8h | 7.8587 | −0.197% | $22.0M | $31.6M | 50x | as long as short |
| Reya INJRUSDPERP | −0.0200% | 1h | 7.8611 | −0.167% | — | — | 20x | as long as short |
| dYdX INJ-USD | 0.0000% | 1h | 7.8667 | −0.095% | $91K | $8K | 5x | as long as short |
| Deribit INJ_USDC-PERPETUAL | 0.0000% | 1h | 7.8720 | −0.028% | $6K | $24K | 25x | as long as short |
| gTrade (Gains Network) INJ/USD | L +0.0006% / S −0.0002% | 1h | 7.8697 | −0.057% | $3K | — | 150x | as long as short |
| Gate INJ_USDT | +0.0033% | 8h | 7.8630 | −0.142% | $2.8M | $4.9M | 50x | as long as short |
| Variational Omni INJ | +0.0089% | 8h | 7.8563 | −0.228% | $280K | $160K | — | as long as short |
| Aevo INJ-PERP | +0.0096% | 1h | 7.8700 | −0.053% | $71K | — | 3x | as long as short |
| Orderly PERP_INJ_USDCshort | +0.0100% | 8h | 7.8720 | −0.028% | $38K | $66K | 10x | |
| Aster INJUSDT | +0.0100% | 8h | 7.8676 | −0.084% | $150K | $443K | 20x | as long as short |
Bybit INJUSDT
Reya INJRUSDPERP
dYdX INJ-USD
Deribit INJ_USDC-PERPETUAL
gTrade (Gains Network) INJ/USD
Gate INJ_USDT
Variational Omni INJ
Aevo INJ-PERP
Aster INJUSDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance INJUSDT | +0.0100% | 8h | 7.8666 | −0.097% | $35.8M | $93.8M | 75x | as long as short |
| OKX INJ-USDT-SWAP | +0.0100% | 8h | 7.8580 | −0.206% | $6.4M | $19.9M | 50x | as long as short |
| KuCoin INJUSDTM | +0.0100% | 8h | 7.8680 | −0.079% | $9.5M | $16.6M | 50x | as long as short |
| Bitget INJUSDT | +0.0100% | 8h | 7.8630 | −0.142% | $14.5M | $10.4M | 75x | as long as short |
| ApeX Omni INJUSDT | +0.0100% | 1h | 7.8550 | −0.244% | $48K | $349K | 50x | as long as short |
| Extended INJ-USD | +0.0104% | 1h | 7.8694 | −0.061% | $119K | $588K | 10x | as long as short |
| Kraken Futures PF_INJUSD | +0.0194% | 1h | 7.8700 | −0.053% | $890K | $3.0M | 50x | as long as short |
| BloFin INJ-USDT | +0.0220% | 8h | 7.8640 | −0.130% | $1.8M | $7.7M | 75x | as long as short |
| BingX INJ-USDT | +0.0271% | 8h | 7.8630 | −0.142% | — | $21.4M | — | as long as short |
| MEXC INJ_USDT | +0.0285% | 8h | 7.8650 | −0.117% | $31.8M | $22.6M | 300x | as long as short |
| GMX INJ/USD [WBTC.b-USDC] | L +0.0356% / S −0.0418% | 1h | 7.8696 | −0.059% | $47K | — | 100x | as long as short |
| Hyperliquid INJlong | +0.0618% | 1h | 7.8742 | long leg | $26.6M | $9.2M | 5x | |
| Coinbase International INJ-PERP-INTX | +0.0632% | 1h | 7.8820 | +0.099% | $386K | $661K | 50x | as long as short |
| Injective INJ/USDC PERP | +0.1436% | 1h | 7.8980 | +0.302% | $329K | $12.1M | 30x | as long as short |
Binance INJUSDT
OKX INJ-USDT-SWAP
KuCoin INJUSDTM
Bitget INJUSDT
ApeX Omni 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