Funding you earn now, next payment 03:00 UTC+0.0890%/8h= +97.4% APRnext payment +$1.11 per $10,000 · paid last 24h +0.197%
Price spread now: Hyperliquid against Injective−3.295%7-day average +0.120% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.597%+$60 on $10k
+Price spread, last 4 days (all we have)+3.186%+$319 · spread now −3.295%, 7d avg +0.120%
=Together, before fees+3.783%+ Points / potential airdropHyperliquid: Season 2 · farm board+$378 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 3.414% cheaper against Injective than usual: you would sell low and buy high (spread −3.295% now, against its 7-day average of +0.120%). If the spread goes back, that is −$341 on $10k: about 13 days of funding at the current rate (+$27 a day). At the pace of the last 7 days (+0.597% in total) that is about 40 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.597% in total (about 31.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.11 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective SKY/USDC PERP | 0.07172 | 0.0033 | pay 0.0004% / 1h | 34m 49s | $392 | $303K | 12x |
| Short | Hyperliquid SKY | 0.06936 | 0.0923 | get 0.0115% / 1h | 34m 49s | $2.9M | $913K | 3x |
Injective SKY/USDC PERP
Hyperliquid SKYFunding 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
- $186.87
- Price spread: −3.295% → +0.120%
- −$341.45
- 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
- −$163.6
- Costs to cover
- 0.090%
- Break-even
- 13.1 days
Slippage unknown: Injective: no order-book sample; Hyperliquid: live order book, 6 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, 6 min ago | 4.32 bp | 19.5 bp −$20 | 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.
SKY on 18 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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni SKY | −0.0390% | 4h | 0.06916 | −3.574% | $185K | $126K | — | as long as short |
| Bybit SKYUSDT | −0.0058% | 4h | 0.06911 | −3.639% | $7.3M | $3.3M | 25x | as long as short |
| Injective SKY/USDC PERPlong | +0.0033% | 1h | 0.07172 | long leg | $392 | $303K | 12x | |
| BloFin SKY-USDT | +0.0073% | 4h | 0.06924 | −3.458% | $586K | $29K | 75x | as long as short |
| Lighter SKY | +0.0096% | 1h | 0.06922 | −3.483% | $180K | $177K | 10x | as long as short |
| Nado SKY-PERP | +0.0100% | 1h | 0.06921 | −3.503% | $70K | $29K | 5x | as long as short |
| Aster SKYUSDT | +0.0100% | 4h | 0.06925 | −3.450% | $42K | $43K | 20x | as long as short |
| Binance SKYUSDT | +0.0100% | 4h | 0.06923 | −3.471% | $15.8M | $11.1M | 75x | as long as short |
| OKX SKY-USDT-SWAP | +0.0100% | 4h | 0.06914 | −3.597% | $827K | $1.2M | 20x | as long as short |
| Gate SKY_USDT | +0.0100% | 4h | 0.06919 | −3.528% | $593K | $277K | 50x | as long as short |
Variational Omni SKY
Bybit SKYUSDT
BloFin SKY-USDT
Lighter SKY
Nado SKY-PERP
Aster SKYUSDT
Binance SKYUSDT
OKX SKY-USDT-SWAP
Gate SKY_USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SKY_USDT | +0.0100% | 4h | 0.06923 | −3.472% | $1.0M | $271K | 100x | as long as short |
| KuCoin SKYUSDTM | +0.0100% | 4h | 0.06926 | −3.430% | $412K | $295K | 50x | as long as short |
| Bitget SKYUSDT | +0.0100% | 4h | 0.06915 | −3.583% | $2.9M | $1.6M | 75x | as long as short |
| BingX SKY-USDT | +0.0100% | 4h | 0.06920 | −3.514% | — | $2.4M | — | as long as short |
| ApeX Omni SKYUSDT | +0.0100% | 1h | 0.06923 | −3.472% | $27K | $666K | 50x | as long as short |
| Orderly PERP_SKY_USDC_mythos | +0.0100% | 4h | 0.06926 | −3.426% | $1K | $3K | 10x | as long as short |
| GMX SKY/USD [ETH-USDC] | L +0.0524% / S −0.0248% | 1h | 0.06924 | −3.459% | $82K | — | 50x | as long as short |
| Hyperliquid SKYshort | +0.0923% | 1h | 0.06936 | −3.295% | $2.9M | $913K | 3x |
MEXC SKY_USDT
KuCoin SKYUSDTM
Bitget SKYUSDT
BingX SKY-USDT
ApeX Omni SKYUSDT
Orderly PERP_SKY_USDC_mythos
GMX SKY/USD [ETH-USDC]