Funding you earn now, next payment 05:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h +0.075%
Price spread now: Hyperliquid against Injective+3.030%93s7-day average +0.158% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.111%+$11 on $10k
+Price spread, last 4 days (all we have)−2.503%−$250 · spread now +3.030%, 7d avg +0.158%
=Together, before fees−2.392%+ Points / potential airdropHyperliquid: Season 2 · farm board−$239 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 2.871% dearer against Injective than usual: you sell high and buy low: +$287 more if the spread goes back to its 7-day average of +0.158%. The two prices were read 93 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 SHIB/USDC PERP | 0.000006040 | 0.0033 | pay 0.0004% / 1h | 33m 45s | $248 | $134K | 5.5x |
| Short | Hyperliquid kSHIB | 0.000006223 | 0.0100 | get 0.0013% / 1h | 33m 45s | $3.7M | $5.1M | 10x |
Injective SHIB/USDC PERP
Hyperliquid kSHIBFunding 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
- $14
- Price spread: +3.030% → +0.158%
- $287.13
- 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
- $292.11
- 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 | 0.81 bp | 13.1 bp −$13 | 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.
SHIB on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International 1000SHIB-PERP-INTX | −0.0168% | 1h | 0.000006233 | +3.195% | $122K | $1.4M | 50x | as long as short |
| Kraken Futures PF_SHIBUSD | −0.0063% | 1h | 0.000006218 | +2.941% | $1.2M | $1.0M | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006232 | +3.177% | $24K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006233 | +3.192% | $173K | $2.9M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006222 | +3.013% | $48K | $58K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006222 | +3.007% | $587 | — | 150x | as long as short |
| Injective SHIB/USDC PERPlong | +0.0033% | 1h | 0.000006040 | long leg | $248 | $134K | 5.5x | |
| BingX 1000SHIB-USDT | +0.0070% | 8h | 0.000006216 | +2.914% | — | $2.2M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006222 | +3.013% | $164K | $622K | 10x | as long as short |
| Hyperliquid kSHIBshort | +0.0100% | 1h | 0.000006223 | +3.030% | $3.7M | $5.1M | 10x |
Coinbase International 1000SHIB-PERP-INTX
Kraken Futures PF_SHIBUSD
dYdX SHIB-USD
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
BingX 1000SHIB-USDT
Lighter 1000SHIBShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006228 | +3.106% | $43K | $328K | 50x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006215 | +2.903% | $32.0M | $115.8M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006214 | +2.881% | $10.1M | $41.2M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006214 | +2.881% | $7.5M | $6.6M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006213 | +2.864% | $31.1M | $18.8M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006223 | +3.030% | $4.9M | $3.0M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006219 | +2.964% | $12.0M | $16.0M | 75x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006222 | +3.013% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006232 | +3.179% | $2K | $26K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006222 | +3.013% | $512 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006227 | +3.096% | $429K | $572K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006230 | +3.146% | $2.1M | $7.1M | 50x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006215 | +2.901% | $55K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0117% | 8h | 0.000006233 | +3.195% | $7K | $13 | 20x | as long as short |
| Pacifica kSHIB | +0.0188% | 1h | 0.000006234 | +3.212% | $12K | $5K | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0214% / S −0.2404% | 1h | 0.000006000 | −0.662% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006226 | +3.079% | $951K | $926K | 50x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0290% | 1h | 0.000006225 | +3.063% | $24K | $7K | 15x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006218 | +2.947% | $1 | — | 20x | as long as short |
Aster 1000SHIBUSDT
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
Pacifica kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Backpack kSHIB_USDC_PERP
Reya kSHIBRUSDPERP