Funding you earn now, next payment 00:00 UTC−0.0345%/8h= −37.8% APRnext payment −$0.43 per $10,000 · paid last 24h +0.016%
Price spread now: Injective against Hyperliquid−0.497%73s7-day average +1.991% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.201%−$20 on $10k
+Price spread, last 3 days (all we have)−1.128%−$113 · spread now −0.497%, 7d avg +1.991%
=Together, before fees−1.329%+ Points / potential airdropHyperliquid: Season 2 · farm board−$133 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Injective is 2.488% cheaper against Hyperliquid than usual: you would sell low and buy high (−$249 if the spread goes back to its 7-day average of +1.991%). Swap the legs. The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.201% in total (about -10.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.43 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 | Hyperliquid FIL | 0.9904 | 0.0100 | pay 0.0013% / 1h | 52m 05s | $8.6M | $9.5M | 5x |
| Short | Injective FIL/USDC PERP | 0.9855 | −0.0245 | pay 0.0031% / 1h | 52m 05s | $2K | $240K | 12x |
Hyperliquid FIL
Injective FIL/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
- −$72.44
- Price spread: −0.497% → +1.991%
- −$248.76
- 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
- −$330.22
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 10 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, 10 min ago | 0.35 bp | 8.1 bp −$8 | 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.
FIL on 29 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 FIL_USDC-PERPETUAL | −0.1060% | 1h | 0.9911 | +0.069% | $171K | $23K | 25x | as long as short |
| ApeX Omni FILUSDT | −0.0508% | 1h | 0.9900 | −0.042% | $30K | $197K | 50x | as long as short |
| Kraken Futures PF_FILUSD | −0.0393% | 1h | 0.9910 | +0.058% | $1.4M | $2.4M | 50x | as long as short |
| Coinbase International FIL-PERP-INTX | −0.0352% | 1h | 0.9927 | +0.230% | $320K | $1.9M | 50x | as long as short |
| Injective FIL/USDC PERPshort | −0.0245% | 1h | 0.9855 | −0.497% | $2K | $240K | 12x | |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9909 | +0.051% | $25K | — | 150x | as long as short |
| KuCoin FILUSDTM | −0.0001% | 8h | 0.9904 | −0.002% | $7.4M | $7.1M | 50x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9920 | +0.156% | $58K | $2K | 10x | as long as short |
| Bitget FILUSDT | +0.0022% | 8h | 0.9903 | −0.012% | $11.0M | $21.6M | 75x | as long as short |
| OKX FIL-USDT-SWAP | +0.0026% | 8h | 0.9903 | −0.012% | $18.2M | $98.8M | 50x | as long as short |
Deribit FIL_USDC-PERPETUAL
ApeX Omni FILUSDT
Kraken Futures PF_FILUSD
Coinbase International FIL-PERP-INTX
gTrade (Gains Network) FIL/USD
KuCoin FILUSDTM
dYdX FIL-USD
Bitget FILUSDT
OKX FIL-USDT-SWAPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit FILUSDT | +0.0043% | 8h | 0.9907 | +0.028% | $15.4M | $18.2M | 25x | as long as short |
| Extended FIL-USD | +0.0064% | 1h | 0.9899 | −0.052% | $692K | $2.3M | 10x | as long as short |
| MEXC FIL_USDC | +0.0064% | 8h | 0.9898 | −0.063% | $252K | $103K | 50x | as long as short |
| Binance FILUSDT | +0.0065% | 8h | 0.9903 | −0.012% | $57.3M | $177.9M | 75x | as long as short |
| BingX FIL-USDT | +0.0074% | 8h | 0.9906 | +0.018% | — | $11.9M | — | as long as short |
| Lighter FIL | +0.0088% | 1h | 0.9901 | −0.033% | $159K | $347K | 5x | as long as short |
| Hyperliquid FILlong | +0.0100% | 1h | 0.9904 | long leg | $8.6M | $9.5M | 5x | |
| Aster FILUSDT | +0.0100% | 8h | 0.9910 | +0.058% | $499K | $529K | 20x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 0.9907 | +0.028% | $7.9M | $16.2M | 50x | as long as short |
| Variational Omni FIL | +0.0100% | 8h | 0.9896 | −0.081% | $441K | $277K | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9884 | −0.202% | $45K | $293K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9884 | −0.203% | $293K | $798K | 10x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9914 | +0.097% | $5K | — | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9900 | −0.042% | $3K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9905 | +0.008% | $488 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9912 | +0.079% | $632K | $5.7M | 75x | as long as short |
| Phemex FILUSDT | +0.0100% | 8h | 0.9910 | +0.059% | $1.1M | $2.3M | 50x | as long as short |
| BloFin FIL-USDT | +0.0187% | 8h | 0.9915 | +0.109% | $2.7M | $556K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0572% / S −0.0666% | 1h | 0.9906 | +0.023% | $197K | — | 100x | as long as short |
Bybit FILUSDT
Extended FIL-USD
MEXC FIL_USDC
Binance FILUSDT
BingX FIL-USDT
Lighter FIL
Aster FILUSDT
Gate FIL_USDT
Variational Omni FIL
edgeX FILUSDC
GRVT FIL_USDT_Perp
Orderly PERP_FIL_USDC_mythos
SunX FIL-USDT
SoDEX FIL-USD
HTX FIL-USDT
Phemex FILUSDT
BloFin FIL-USDT
GMX FIL/USD [WBTC.b-USDC]