Funding you earn now, next payment 09:00 UTC+0.1428%/8h= +156.3% APRnext payment +$1.78 per $10,000 · paid last 24h +0.340%
Price spread now: Hyperliquid against Injective+1.611%113s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+1.262%+$126 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 for this trade now. Funding pays +$43 a day on $10k at the current rate, and Hyperliquid is 1.611% dearer against Injective than usual: you sell high and buy low: +$161 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 113 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective OP/USDC PERP | 0.1235 | −0.1328 | get 0.0166% / 1h | 23m 22s | $34K | $63K | 12x |
| Short | Hyperliquid OP | 0.1255 | 0.0100 | get 0.0013% / 1h | 23m 22s | $3.5M | $3.7M | 5x |
Injective OP/USDC PERP
Hyperliquid OPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Injective. 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
- $299.78
- Price spread: +1.611% → 0.000%
- $161.13
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $451.89
- Costs to cover
- 0.090%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Hyperliquid: live order book, 8 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 Injective no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 8 min ago | 1.21 bp | 10.2 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
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.
OP on 30 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective OP/USDC PERPlong | −0.1328% | 1h | 0.1235 | long leg | $34K | $63K | 12x | |
| GMX OP/USD [OP-USDC] | L −0.1164% / S +0.0246% | 1h | 0.1250 | +1.226% | $13K | — | 100x | as long as short |
| Orderly PERP_OP_USDC | −0.0048% | 8h | 0.1256 | +1.700% | $12K | $234K | 10x | as long as short |
| KuCoin OPUSDTM | −0.0004% | 8h | 0.1253 | +1.457% | $2.9M | $6.1M | 75x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1247 | +0.952% | $39K | $522 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1250 | +1.215% | $31K | $163K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S +0.0001% | 1h | 0.1246 | +0.896% | $1K | — | 150x | as long as short |
| Variational Omni OP | +0.0057% | 8h | 0.1240 | +0.381% | $220K | $47K | — | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1253 | +1.449% | $290K | $1.1M | 15x | as long as short |
| Hyperliquid OPshort | +0.0100% | 1h | 0.1255 | +1.611% | $3.5M | $3.7M | 5x |
GMX OP/USD [OP-USDC]
Orderly PERP_OP_USDC
KuCoin OPUSDTM
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Variational Omni OP
Lighter OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1254 | +1.571% | $202K | $214K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1256 | +1.705% | $19.4M | $68.8M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1255 | +1.660% | $18.3M | $26.5M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1256 | +1.684% | $6.0M | $29.8M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1255 | +1.595% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1255 | +1.644% | $22.3M | $7.8M | 300x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1255 | +1.619% | $5.8M | $6.9M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1256 | +1.700% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1250 | +1.231% | $112K | $223K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1244 | +0.717% | $4K | $1.1M | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1245 | +0.810% | $302K | $5.4M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1244 | +0.729% | $43K | $692K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1250 | +1.190% | $189 | $5K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1250 | +1.239% | $166K | $257K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1255 | +1.638% | $100K | $608K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1256 | +1.700% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0112% | 1h | 0.1244 | +0.729% | $25K | $69K | 50x | as long as short |
| Kraken Futures PF_OPUSD | +0.0155% | 1h | 0.1251 | +1.278% | $741K | $730K | 20x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1246 | +0.866% | $992K | $323K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0445% | 1h | 0.1254 | +1.576% | $698 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
Bitget OPUSDT
BingX OP-USDC
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
Coinbase International OP-PERP-INTX
Kraken Futures PF_OPUSD
BloFin OP-USDT
Reya OPRUSDPERP