Funding you earn now, next payment 23:00 UTC−0.0543%/8h= −59.4% APRpaid last 24h −0.136%
Price spread now: Variational Omni against Hyperliquid−0.272%7-day average −0.136% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.175%−$17 on $10k
+Price spread, last 3 days (all we have)+0.290%+$29 · spread now −0.272%, 7d avg −0.136%
=Together, before fees+0.115%+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm board+$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Variational Omni is 0.136% cheaper against Hyperliquid than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.136%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.175% in total (about -19.4% 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 | 7.8118 | 0.0643 | pay 0.0080% / 1h | 15m 18s | $26.5M | $9.6M | 5x |
| Short | Variational Omni INJ | 7.7905 | 0.0100 | get 0.0100% / 8h | 1h 15m | $275K | $157K | — |
Hyperliquid INJ
Variational Omni INJFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$113.95
- Price spread: −0.272% → −0.136%
- −$13.59
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$136.53
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 8 min ago; Variational Omni: RFQ quote, 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 Hyperliquid live order book, 8 min ago | 1.60 bp | 11.5 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 4 min ago | 3.35 bp | doesn't fit | 44.0 bp −$440 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya INJRUSDPERP | −0.0200% | 1h | 7.7984 | −0.171% | — | — | 20x | as long as short |
| Deribit INJ_USDC-PERPETUAL | 0.0000% | 1h | 7.8063 | −0.070% | $7K | $23K | 25x | as long as short |
| gTrade (Gains Network) INJ/USD | L +0.0006% / S −0.0002% | 1h | 7.8024 | −0.120% | $3K | — | 150x | as long as short |
| dYdX INJ-USD | +0.0009% | 1h | 7.7978 | −0.180% | $90K | $8K | 5x | as long as short |
| Aevo INJ-PERP | +0.0096% | 1h | 7.8030 | −0.113% | $71K | $13K | 3x | as long as short |
| Orderly PERP_INJ_USDC | +0.0099% | 8h | 7.8030 | −0.113% | $38K | $63K | 10x | as long as short |
| Kraken Futures PF_INJUSD | +0.0099% | 1h | 7.8084 | −0.044% | $872K | $3.0M | 50x | as long as short |
| Aster INJUSDT | +0.0100% | 8h | 7.8035 | −0.106% | $156K | $440K | 20x | as long as short |
| Binance INJUSDT | +0.0100% | 8h | 7.8064 | −0.069% | $35.7M | $93.8M | 75x | as long as short |
| Bybit INJUSDT | +0.0100% | 8h | 7.8010 | −0.138% | $21.6M | $31.6M | 50x | as long as short |
Reya INJRUSDPERP
Deribit INJ_USDC-PERPETUAL
gTrade (Gains Network) INJ/USD
dYdX INJ-USD
Aevo INJ-PERP
Orderly PERP_INJ_USDC
Kraken Futures PF_INJUSD
Aster INJUSDT
Binance INJUSDT
Bybit INJUSDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX INJ-USDT-SWAP | +0.0100% | 8h | 7.8020 | −0.125% | $6.4M | $20.1M | 50x | as long as short |
| Gate INJ_USDT | +0.0100% | 8h | 7.8000 | −0.151% | $2.8M | $5.0M | 50x | as long as short |
| KuCoin INJUSDTM | +0.0100% | 8h | 7.8020 | −0.125% | $9.5M | $16.5M | 50x | as long as short |
| Bitget INJUSDT | +0.0100% | 8h | 7.8020 | −0.125% | $14.3M | $10.7M | 75x | as long as short |
| Variational Omni INJshort | +0.0100% | 8h | 7.7905 | −0.272% | $275K | $157K | — | |
| ApeX Omni INJUSDT | +0.0100% | 1h | 7.8010 | −0.138% | $48K | $349K | 50x | as long as short |
| Extended INJ-USD | +0.0104% | 1h | 7.8024 | −0.120% | $118K | $460K | 10x | as long as short |
| BloFin INJ-USDT | +0.0220% | 8h | 7.8030 | −0.113% | $1.8M | $7.7M | 75x | as long as short |
| BingX INJ-USDT | +0.0271% | 8h | 7.8010 | −0.138% | — | $21.4M | — | as long as short |
| MEXC INJ_USDT | +0.0285% | 8h | 7.8040 | −0.100% | $31.9M | $23.1M | 300x | as long as short |
| GMX INJ/USD [WBTC.b-USDC] | L +0.0355% / S −0.0418% | 1h | 7.8036 | −0.105% | $46K | — | 100x | as long as short |
| Coinbase International INJ-PERP-INTX | +0.0640% | 1h | 7.8120 | +0.003% | $383K | $713K | 50x | as long as short |
| Hyperliquid INJlong | +0.0643% | 1h | 7.8118 | long leg | $26.5M | $9.6M | 5x | |
| Injective INJ/USDC PERP | +0.1367% | 1h | 7.8280 | +0.207% | $320K | $12.1M | 30x | as long as short |
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