Funding you earn now, next payment 07:00 UTC−0.5100%/8h= −558.5% APRnext payment −$6.38 per $10,000 · paid last 24h −1.413%
Price spread now: Injective against Hyperliquid−1.361%7-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 −$153 a day on $10k at the current rate, and Injective is 1.361% cheaper against Hyperliquid than usual: you would sell low and buy high (−$136 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid USUAL | 0.01396 | 0.0100 | pay 0.0013% / 1h | 9m 03s | $397K | $186K | 3x |
| Short | Injective USUAL/USDC PERP | 0.01377 | −0.5000 | pay 0.0625% / 1h | 9m 03s | $6K | $3K | 5.5x |
Hyperliquid USUAL
Injective USUAL/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
- −$1,071
- Price spread: −1.361% → 0.000%
- −$136.1
- 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
- −$1,216.12
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 51 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, 51 min ago | 7.16 bp | 41.8 bp −$42 | 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.
USUAL on 11 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 USUAL/USDC PERPshort | −0.5000% | 1h | 0.01377 | −1.361% | $6K | $3K | 5.5x | |
| Hyperliquid USUALlong | +0.0100% | 1h | 0.01396 | long leg | $397K | $186K | 3x | |
| Binance USUALUSDT | +0.0100% | 4h | 0.01397 | +0.046% | $2.2M | $3.2M | 50x | as long as short |
| Bybit USUALUSDT | +0.0100% | 4h | 0.01398 | +0.129% | $1.0M | $767K | 25x | as long as short |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01396 | 0.000% | $944K | $107K | 50x | as long as short |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01397 | +0.064% | $6.1M | $265K | 100x | as long as short |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01398 | +0.143% | $268K | $47K | 20x | as long as short |
| Bitget USUALUSDT | +0.0100% | 4h | 0.01398 | +0.143% | $808K | $398K | 50x | as long as short |
| BingX USUAL-USDT | +0.0100% | 4h | 0.01396 | −0.036% | — | $1.2M | — | as long as short |
| Variational Omni USUAL | +0.0100% | 4h | 0.01397 | +0.085% | $11K | $1K | — | as long as short |
Binance USUALUSDT
Bybit USUALUSDT
Gate USUAL_USDT
MEXC USUAL_USDT
KuCoin USUALUSDTM
Bitget USUALUSDT
BingX USUAL-USDT
Variational Omni USUALShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_USUALUSD | +0.0139% | 1h | 0.01396 | +0.017% | $112K | $21K | 10x | as long as short |
Kraken Futures PF_USUALUSD