Funding you earn now, next payment 00:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h −0.036%
Price spread now: Injective against Hyperliquid+2.198%53s7-day average — · you sell dearer than you buy
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
The price spread pays, funding is against you. Injective is 2.198% dearer against Hyperliquid than usual: you sell high and buy low (spread +2.198% now, against zero (this spread has no 7-day history yet)): +$220 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4 months. The two prices were read 53 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 | Hyperliquid W | 0.01183 | 0.0100 | pay 0.0013% / 1h | 16m 16s | $2.0M | $421K | 5x |
| Short | Injective W/USDC PERP | 0.01209 | 0.0033 | get 0.0004% / 1h | 16m 16s | $1K | $1K | 12x |
Hyperliquid W
Injective W/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: +2.198% → 0.000%
- $219.78
- 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
- $196.76
- Costs to cover
- 0.090%
- Break-even
- from the start
Slippage unknown: Hyperliquid: live order book, 5 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, 5 min ago | 8.47 bp | 24.2 bp −$24 | 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.
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit W_USDC-PERPETUAL | −0.0173% | 1h | 0.01182 | −0.085% | $17K | $1K | 10x | as long as short |
| OKX W-USDT-SWAP | −0.0004% | 4h | 0.01181 | −0.152% | $1.3M | $2.0M | 20x | as long as short |
| Injective W/USDC PERPshort | +0.0033% | 1h | 0.01209 | +2.198% | $1K | $1K | 12x | |
| Hyperliquid Wlong | +0.0100% | 1h | 0.01183 | long leg | $2.0M | $421K | 5x | |
| Binance WUSDT | +0.0100% | 4h | 0.01182 | −0.080% | $2.9M | $6.8M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01180 | −0.262% | $4.1M | $1.9M | 50x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01179 | −0.330% | $445K | $291K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01182 | −0.059% | $12.8M | $1.5M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01183 | 0.000% | $465K | $215K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01182 | −0.085% | $1.3M | $571K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
OKX W-USDT-SWAP
Binance WUSDT
Bybit WUSDT
Gate W_USDT
MEXC W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDT | +0.0100% | 4h | 0.01181 | −0.169% | — | $6.9M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01180 | −0.217% | $71K | $42K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01180 | −0.254% | $127K | $377K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01182 | −0.082% | $59K | $228K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0248% | 1h | 0.01183 | −0.008% | $14K | $16K | 50x | as long as short |
| Backpack W_USDC_PERP | +0.0490% | 1h | 0.01183 | −0.034% | $44K | $46K | 15x | as long as short |
| Kraken Futures PF_WUSD | +0.0718% | 1h | 0.01185 | +0.152% | $147K | $181K | 20x | as long as short |
BingX W-USDT
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Backpack W_USDC_PERP
Kraken Futures PF_WUSD