Funding you earn now, next payment 05:00 UTC−0.4576%/8h= −501.1% APRnext payment −$5.72 per $10,000 · paid last 24h +0.544%
Price spread now: Hyperliquid against Injective−6.043%73s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+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 against this trade now: funding costs −$137 a day on $10k at the current rate, and Hyperliquid is 6.043% cheaper against Injective than usual: you would sell low and buy high (−$604 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 73 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 USELESS/USDC PERP | 0.2784 | 0.5000 | pay 0.0625% / 1h | 33m 58s | $5K | $11K | 5.5x |
| Short | Hyperliquid USELESS | 0.2615 | 0.0424 | get 0.0053% / 1h | 33m 58s | $11.4M | $22.6M | 3x |
Injective USELESS/USDC PERP
Hyperliquid USELESSFunding 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
- −$961.03
- Price spread: −6.043% → 0.000%
- −$604.25
- 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
- −$1,574.31
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Hyperliquid: live order book, 9 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, 9 min ago | 2.09 bp | 19.1 bp −$19 | 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.
USELESS 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 | |
|---|---|---|---|---|---|---|---|---|
| Lighter USELESS | +0.0096% | 1h | 0.2613 | −6.118% | $1.2M | $1.2M | 3x | as long as short |
| Pacifica USELESS | +0.0100% | 1h | 0.2612 | −6.150% | $28K | $18K | 3x | as long as short |
| ApeX Omni USELESSUSDT | +0.0100% | 1h | 0.2618 | −5.949% | $36K | $696K | 25x | as long as short |
| Polymarket Perps USELESS-USD | +0.0100% | 1h | 0.2612 | −6.161% | $25K | $232K | 3x | as long as short |
| SunX USELESS-USDT | +0.0100% | 4h | 0.2616 | −6.025% | — | $1.4M | 10x | as long as short |
| HTX USELESS-USDT | +0.0100% | 4h | 0.2604 | −6.438% | $18K | $520K | 20x | as long as short |
| Phemex USELESSUSDT | +0.0100% | 4h | 0.2615 | −6.064% | $600K | $1.1M | 20x | as long as short |
| Aevo USELESS-PERP | +0.0168% | 1h | 0.2616 | −6.035% | $9K | — | 3x | as long as short |
| OKX USELESS-USDT-SWAP | +0.0202% | 4h | 0.2618 | −5.949% | $8.9M | $63.3M | 10x | as long as short |
| KuCoin USELESSUSDTM | +0.0210% | 4h | 0.2611 | −6.193% | $4.7M | $10.7M | 12x | as long as short |
Lighter USELESS
Pacifica USELESS
ApeX Omni USELESSUSDT
Polymarket Perps USELESS-USD
SunX USELESS-USDT
HTX USELESS-USDT
Phemex USELESSUSDT
Aevo USELESS-PERP
OKX USELESS-USDT-SWAP
KuCoin USELESSUSDTMShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget USELESSUSDT | +0.0212% | 4h | 0.2612 | −6.179% | $5.0M | $10.3M | 20x | as long as short |
| Aster USELESSUSDT | +0.0277% | 4h | 0.2611 | −6.204% | $516K | $2.4M | 10x | as long as short |
| edgeX USELESSUSDC | +0.0345% | 4h | 0.2624 | −5.745% | $20K | $196K | 10x | as long as short |
| MEXC USELESS_USDT | +0.0358% | 4h | 0.2615 | −6.057% | $10.5M | $6.0M | 50x | as long as short |
| Extended USELESS-USD | +0.0360% | 1h | 0.2617 | −5.980% | $112K | $1.1M | 5x | as long as short |
| Binance USELESSUSDT | +0.0362% | 4h | 0.2619 | −5.923% | $21.8M | $121.8M | 50x | as long as short |
| Hyperliquid USELESSshort | +0.0424% | 1h | 0.2615 | −6.043% | $11.4M | $22.6M | 3x | |
| Gate USELESS_USDT | +0.0564% | 4h | 0.2613 | −6.140% | $6.5M | $8.6M | 50x | as long as short |
| Variational Omni USELESS | +0.0590% | 4h | 0.2630 | −5.533% | $1.1M | $1.8M | — | as long as short |
| BingX USELESS-USDT | +0.0822% | 4h | 0.2616 | −6.032% | — | $5.3M | — | as long as short |
| BloFin USELESS-USDT | +0.0966% | 4h | 0.2619 | −5.931% | $1.1M | $1.9M | 12x | as long as short |
| Bybit USELESSUSDT | +0.0984% | 4h | 0.2616 | −6.010% | $24.7M | $48.6M | 13x | as long as short |
| Orderly PERP_USELESS_USDC | +0.1302% | 4h | 0.2616 | −6.035% | $19K | $1.2M | 10x | as long as short |
| Injective USELESS/USDC PERPlong | +0.5000% | 1h | 0.2784 | long leg | $5K | $11K | 5.5x |
Bitget USELESSUSDT
Aster USELESSUSDT
edgeX USELESSUSDC
MEXC USELESS_USDT
Extended USELESS-USD
Binance USELESSUSDT
Gate USELESS_USDT
Variational Omni USELESS
BingX USELESS-USDT
BloFin USELESS-USDT
Bybit USELESSUSDT
Orderly PERP_USELESS_USDC