Funding you earn now, next payment 05:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h −0.031%
Price spread now: Injective against Hyperliquid−1.339%7-day average −0.283% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.163%+$16 on $10k
+Price spread, last 4 days (all we have)+1.277%+$128 · spread now −1.339%, 7d avg −0.283%
=Together, before fees+1.440%+ Points / potential airdropHyperliquid: Season 2 · farm board+$144 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 1.056% cheaper against Hyperliquid than usual: you would sell low and buy high (−$106 if the spread goes back to its 7-day average of −0.283%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.163%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid TRX | 0.3488 | 0.0100 | pay 0.0013% / 1h | 8m 50s | $13.2M | $2.7M | 10x |
| Short | Injective TRX/USDC PERP | 0.3441 | 0.0033 | get 0.0004% / 1h | 8m 50s | $1K | $163K | 12x |
Hyperliquid TRX
Injective TRX/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
- −$14
- Price spread: −1.339% → −0.283%
- −$105.56
- 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
- −$128.58
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 4 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, 4 min ago | 0.14 bp | 6.9 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.
TRX on 32 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 TRXRUSDPERP | −0.0133% | 1h | 0.3484 | −0.117% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0046% | 1h | 0.3486 | −0.043% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3486 | −0.037% | $183K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0008% | 1h | 0.3485 | −0.074% | $123K | — | 150x | as long as short |
| Injective TRX/USDC PERPshort | +0.0033% | 1h | 0.3441 | −1.339% | $1K | $163K | 12x | |
| HTX TRX-USDT | +0.0069% | 8h | 0.3483 | −0.144% | $825K | $890K | 75x | as long as short |
| BingX TRX-USDC | +0.0070% | 8h | 0.3485 | −0.089% | — | $6.5M | — | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3484 | −0.112% | $486K | $671K | 10x | as long as short |
| Orderly PERP_TRX_USDC | +0.0099% | 8h | 0.3485 | −0.083% | $14K | $60K | 20x | as long as short |
| Paradex TRX-USD-PERP | +0.0100% | 8h | 0.3484 | −0.095% | $9K | $251 | 20x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
HTX TRX-USDT
BingX TRX-USDC
Lighter TRX
Orderly PERP_TRX_USDC
Paradex TRX-USD-PERPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid TRXlong | +0.0100% | 1h | 0.3488 | long leg | $13.2M | $2.7M | 10x | |
| Aster TRXUSDT | +0.0100% | 8h | 0.3485 | −0.071% | $965K | $698K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3484 | −0.103% | $106.2M | $61.7M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3484 | −0.106% | $53.9M | $12.0M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3484 | −0.103% | $15.6M | $10.3M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3484 | −0.112% | $9.7M | $3.0M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3484 | −0.103% | $18.9M | $2.2M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3484 | −0.109% | $8.5M | $3.5M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3485 | −0.071% | $10.6M | $3.5M | 75x | as long as short |
| Backpack TRX_USDC_PERP | +0.0100% | 1h | 0.3483 | −0.123% | $62K | $5K | 10x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3485 | −0.081% | $570K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3486 | −0.036% | $595K | $468K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3486 | −0.040% | $116K | $580K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3482 | −0.165% | $198K | $1.3M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3484 | −0.103% | $406 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3484 | −0.103% | $3.9M | $1.9M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3483 | −0.131% | $195K | $1.0M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3483 | −0.138% | $34K | — | 3x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0144% | 1h | 0.3485 | −0.075% | $2.4M | $1.7M | 25x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3486 | −0.051% | $4.7M | $3.9M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0410% / S −0.0491% | 1h | 0.3485 | −0.087% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0700% | 1h | 0.3488 | +0.021% | $853K | $558K | 25x | as long as short |
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
KuCoin TRXUSDTM
Bitget TRXUSDT
Backpack TRX_USDC_PERP
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
Kraken Futures PF_TRXUSD
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL