Funding you earn now, next payment 08:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h −0.045%
Price spread now: Injective against Hyperliquid−3.307%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 −$2 a day on $10k at the current rate, and Injective is 3.307% cheaper against Hyperliquid than usual: you would sell low and buy high (−$331 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 SPX | 0.5149 | 0.0100 | pay 0.0013% / 1h | 40m 45s | $10.4M | $8.3M | 5x |
| Short | Injective SPX/USDC PERP | 0.4979 | 0.0033 | get 0.0004% / 1h | 40m 45s | $9 | $4K | 5.5x |
Hyperliquid SPX
Injective SPX/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: −3.307% → 0.000%
- −$330.72
- 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
- −$353.74
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 2 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, 2 min ago | 2.71 bp | 20.1 bp −$20 | 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.
SPX on 19 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 SPX/USDC PERPshort | +0.0033% | 1h | 0.4979 | −3.307% | $9 | $4K | 5.5x | |
| Lighter SPX | +0.0096% | 1h | 0.5151 | +0.035% | $140K | $405K | 5x | as long as short |
| Hyperliquid SPXlong | +0.0100% | 1h | 0.5149 | long leg | $10.4M | $8.3M | 5x | |
| Aster SPXUSDT | +0.0100% | 4h | 0.5154 | +0.094% | $138K | $93K | 10x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5151 | +0.030% | $5.2M | $23.7M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5144 | −0.103% | $11.9M | $17.8M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5145 | −0.084% | $974K | $3.4M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5152 | +0.052% | $1.0M | $655K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5152 | +0.052% | $11.8M | $5.1M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5149 | −0.006% | $3.7M | $5.5M | 50x | as long as short |
Lighter SPX
Aster SPXUSDT
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
MEXC SPX_USDT
KuCoin SPXUSDTMShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPXUSDT | +0.0100% | 4h | 0.5151 | +0.033% | $2.7M | $1.5M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5145 | −0.084% | — | $7.0M | — | as long as short |
| Variational Omni SPX | +0.0100% | 4h | 0.5144 | −0.093% | $997K | $1.6M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5168 | +0.363% | $26K | $248K | 25x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5145 | −0.084% | $8K | $1.8M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5146 | −0.062% | $33K | $247K | 10x | as long as short |
| Orderly PERP_SPX_USDC | +0.0163% | 4h | 0.5159 | +0.188% | $20K | $599 | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5150 | +0.014% | $254K | $1.0M | 75x | as long as short |
| Kraken Futures PF_SPXUSD | +0.1257% | 1h | 0.5160 | +0.201% | $256K | $553K | 20x | as long as short |
Bitget SPXUSDT
BingX SPX-USDT
Variational Omni SPX
ApeX Omni SPXUSDT
SunX SPX-USDT
Extended SPX-USD
Orderly PERP_SPX_USDC
BloFin SPX-USDT
Kraken Futures PF_SPXUSD