Funding you earn now, next payment 03:00 UTC−0.0774%/8h= −84.8% APRnext payment −$0.97 per $10,000 · paid last 24h −0.123%
Price spread now: Injective against Hyperliquid−8.778%73s7-day average +0.825% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.363%−$36 on $10k
+Price spread, last 3 days (all we have)+10.545%+$1,055 · spread now −8.778%, 7d avg +0.825%
=Together, before fees+10.182%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1,018 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and Injective is 9.603% cheaper against Hyperliquid than usual: you would sell low and buy high (−$960 if the spread goes back to its 7-day average of +0.825%). Swap the legs. The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.363% in total (about -18.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.97 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 NEAR | 4.5395 | 0.0808 | pay 0.0101% / 1h | 16m 07s | $380.2M | $319.6M | 10x |
| Short | Injective NEAR/USDC PERP | 4.1410 | 0.0033 | get 0.0004% / 1h | 16m 07s | $578 | $302K | 12x |
Hyperliquid NEAR
Injective NEAR/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$162.63
- Price spread: −8.778% → +0.825%
- −$960.32
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$1,131.98
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 8 min ago; Injective: 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, 8 min ago | 0.89 bp | 7.3 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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.
NEAR on 45 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 NEARRUSDPERP | −0.0171% | 1h | 4.5532 | +0.302% | $2K | — | 20x | as long as short |
| Coinbase International NEAR-PERP-INTX | −0.0016% | 1h | 4.5492 | +0.214% | $2.3M | $15.5M | 50x | as long as short |
| dYdX NEAR-USD | 0.0000% | 1h | 4.5768 | +0.821% | $113K | $70K | 10x | as long as short |
| Kalshi KXNEARPERP | 0.0000% | 8h | 4.5574 | +0.394% | $521K | $20.8M | 2.2x | as long as short |
| gTrade (Gains Network) NEAR/USD | L +0.0004% / S −0.0006% | 1h | 4.5478 | +0.183% | $170K | — | 150x | as long as short |
| Injective NEAR/USDC PERPshort | +0.0033% | 1h | 4.1410 | −8.778% | $578 | $302K | 12x | |
| Phemex NEARUSDT | +0.0045% | 8h | 4.5380 | −0.033% | $3.9M | $8.3M | 50x | as long as short |
| Popdex NEARUSDT | +0.0096% | 1h | 4.5680 | +0.628% | $112K | $507K | 50x | as long as short |
| Pacifica NEAR | +0.0100% | 1h | 4.5753 | +0.789% | $436K | $1.2M | 10x | as long as short |
| Binance NEARUSDT | +0.0100% | 8h | 4.5336 | −0.130% | $276.1M | $1.10B | 75x | as long as short |
Reya NEARRUSDPERP
Coinbase International NEAR-PERP-INTX
dYdX NEAR-USD
Kalshi KXNEARPERP
gTrade (Gains Network) NEAR/USD
Phemex NEARUSDT
Popdex NEARUSDT
Pacifica NEAR
Binance NEARUSDTShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit NEARUSDT | +0.0100% | 8h | 4.5320 | −0.165% | $227.9M | $424.7M | 75x | as long as short |
| OKX NEAR-USDT-SWAP | +0.0100% | 8h | 4.5340 | −0.121% | $65.4M | $307.0M | 50x | as long as short |
| Bulk NEAR-USD | +0.0100% | 1h | 4.4902 | −1.085% | $256K | −$0 | 10x | as long as short |
| Gate NEAR_USDT | +0.0100% | 8h | 4.5303 | −0.203% | $32.9M | $64.4M | 75x | as long as short |
| MEXC NEAR_USDT | +0.0100% | 8h | 4.5390 | −0.011% | $78.3M | $146.9M | 200x | as long as short |
| KuCoin NEARUSDTM | +0.0100% | 8h | 4.5380 | −0.033% | $56.1M | $45.3M | 75x | as long as short |
| Bitget NEARUSDT | +0.0100% | 8h | 4.5347 | −0.106% | $74.6M | $129.2M | 75x | as long as short |
| BingX NEAR-USDC | +0.0100% | 8h | 4.5330 | −0.143% | — | $6.6M | — | as long as short |
| Variational Omni NEAR | +0.0100% | 8h | 4.5466 | +0.157% | $8.8M | $18.2M | — | as long as short |
| edgeX NEARUSDC | +0.0100% | 4h | 4.5608 | +0.469% | $273K | $988K | 20x | as long as short |
| GRVT NEAR_USDT_Perp | +0.0100% | 8h | 4.5621 | +0.498% | $1.5M | $1.4M | 10x | as long as short |
| ApeX Omni NEARUSDT | +0.0100% | 1h | 4.5350 | −0.099% | $180K | $793K | 50x | as long as short |
| Polymarket Perps NEAR-USD | +0.0100% | 1h | 4.5580 | +0.408% | $216K | $3.8M | 10x | as long as short |
| Orderly PERP_NEAR_USDC | +0.0100% | 8h | 4.5459 | +0.141% | $58K | $237K | 20x | as long as short |
| SunX NEAR-USDT | +0.0100% | 8h | 4.5600 | +0.452% | $1K | $1.4M | 20x | as long as short |
| SoDEX NEAR-USD | +0.0100% | 1h | 4.5445 | +0.110% | $5K | $51K | 10x | as long as short |
| HTX NEAR-USDT | +0.0100% | 8h | 4.5490 | +0.209% | $471K | $4.0M | 75x | as long as short |
| Paradex NEAR-USD-PERP | +0.0101% | 8h | 4.5764 | +0.812% | $33K | $608 | 10x | as long as short |
| Extended NEAR-USD | +0.0104% | 1h | 4.5483 | +0.194% | $4.2M | $19.0M | 25x | as long as short |
| Aevo NEAR-PERP | +0.0104% | 1h | 4.5555 | +0.352% | $212K | $34K | 3x | as long as short |
| BloFin NEAR-USDT | +0.0220% | 8h | 4.5670 | +0.606% | $13.8M | $34.1M | 75x | as long as short |
| Aster NEARUSDT | +0.0296% | 8h | 4.5492 | +0.214% | $3.1M | $5.4M | 50x | as long as short |
| GMX NEAR/USD [ETH-USDC] | L +0.0362% / S −0.0250% | 1h | 4.5487 | +0.204% | $275K | — | 100x | as long as short |
| Nado NEAR-PERP | +0.0369% | 1h | 4.5520 | +0.275% | $2.0M | $3.1M | 10x | as long as short |
| 01 Exchange NEARUSD | +0.0392% | 1h | 4.5760 | +0.804% | $13K | $7K | 10x | as long as short |
| Arcus NEAR-USD | +0.0410% | 1h | 4.5800 | +0.892% | $222K | $1.7M | 10x | as long as short |
| Backpack NEAR_USDC_PERP | +0.0613% | 1h | 4.5337 | −0.128% | $1.4M | $6.7M | 20x | as long as short |
| Deribit NEAR_USDC-PERPETUAL | +0.0674% | 1h | 4.5481 | +0.189% | $2.0M | $4.5M | 25x | as long as short |
| Kraken Futures PF_NEARUSD | +0.0678% | 1h | 4.5463 | +0.150% | $8.4M | $41.3M | 50x | as long as short |
| Lighter RH NEAR | +0.0720% | 1h | 4.5513 | +0.260% | $1.6M | $7.1M | 10x | as long as short |
| Hyperliquid NEARlong | +0.0808% | 1h | 4.5395 | long leg | $380.2M | $319.6M | 10x | |
| Phoenix NEAR | +0.0855% | 1h | 4.5923 | +1.163% | $1.9M | $2.7M | 10x | as long as short |
| RISEx NEAR/USDC | +0.0924% | 1h | 4.5735 | +0.749% | $575K | $1.4M | 10x | as long as short |
| Lighter NEAR | +0.1216% | 1h | 4.5549 | +0.339% | $18.2M | $26.5M | 15x | as long as short |
| Aftermath Perps NEARUSD | +0.1580% | 1h | 4.5438 | +0.094% | $6K | $12K | 10x | as long as short |
Bybit NEARUSDT
OKX NEAR-USDT-SWAP
Bulk NEAR-USD
Gate NEAR_USDT
MEXC NEAR_USDT
KuCoin NEARUSDTM
Bitget NEARUSDT
BingX NEAR-USDC
Variational Omni NEAR
edgeX NEARUSDC
GRVT NEAR_USDT_Perp
ApeX Omni NEARUSDT
Polymarket Perps NEAR-USD
Orderly PERP_NEAR_USDC
SunX NEAR-USDT
SoDEX NEAR-USD
HTX NEAR-USDT
Paradex NEAR-USD-PERP
Extended NEAR-USD
Aevo NEAR-PERP
BloFin NEAR-USDT
Aster NEARUSDT
GMX NEAR/USD [ETH-USDC]
Nado NEAR-PERP
01 Exchange NEARUSD
Arcus NEAR-USD
Backpack NEAR_USDC_PERP
Deribit NEAR_USDC-PERPETUAL
Kraken Futures PF_NEARUSD
Lighter RH NEAR
Phoenix NEAR
RISEx NEAR/USDC
Lighter NEAR
Aftermath Perps NEARUSD