Funding you earn now, next payment 23:00 UTC+0.0671%/8h= +73.5% APRpaid last 24h +0.125%
Price spread now: Hyperliquid against Bybit+0.130%7-day average +0.091% · you sell dearer than you buy
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$56as in the Price arb table
costs, in and out, $10k−$600.603% of the position
Funding, last 7 days+0.218%+$22 on $10k
+Price spread, last 7 days−0.091%−$9 · spread now +0.130%, 7d avg +0.091%
=Together, before fees+0.127%+ Points / potential airdropHyperliquid: Season 2 · farm board+$13 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Hyperliquid is 0.039% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.091%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.218% in total (about 11.4% a year). A funding rate is set anew for every payment. 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 | Bybit INJUSDT | 7.7771 | 0.0100 | pay 0.0100% / 8h | 1h 32m | $21.6M | $31.6M | 50x |
| Short | Hyperliquid INJ | 7.7872 | 0.0771 | get 0.0096% / 1h | 32m 10s | $26.5M | $9.6M | 5x |
Bybit INJUSDT
Hyperliquid INJFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Bybit. 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
- $141
- Price spread: +0.130% → +0.091%
- $3.86
- Slippage, 4 orders
- −$40.32
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $84.55
- Costs to cover
- 0.603%
- Break-even
- 2.8 days
Slippage from Bybit: live order book, 2 min ago; Hyperliquid: live order book, 11 min ago.
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 Bybit live order book, 2 min ago | 0.64 bp | 18.6 bp −$19 | 53.5 bp −$535 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 11 min ago | 1.15 bp | 8.3 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
INJ on 24 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya INJRUSDPERP | −0.0200% | 1h | 7.7749 | −0.028% | — | — | 20x | as long as short |
| Deribit INJ_USDC-PERPETUAL | 0.0000% | 1h | 7.7814 | +0.055% | $7K | $23K | 25x | as long as short |
| gTrade (Gains Network) INJ/USD | L +0.0006% / S −0.0002% | 1h | 7.7797 | +0.034% | $3K | — | 150x | as long as short |
| dYdX INJ-USD | +0.0014% | 1h | 7.7885 | +0.147% | $90K | $7K | 5x | as long as short |
| Aevo INJ-PERP | +0.0096% | 1h | 7.7776 | +0.007% | $70K | $13K | 3x | as long as short |
| Orderly PERP_INJ_USDC | +0.0098% | 8h | 7.7780 | +0.012% | $38K | $63K | 10x | as long as short |
| Kraken Futures PF_INJUSD | +0.0099% | 1h | 7.7830 | +0.076% | $871K | $3.1M | 50x | as long as short |
| Aster INJUSDT | +0.0100% | 8h | 7.7841 | +0.090% | $156K | $440K | 20x | as long as short |
| Binance INJUSDT | +0.0100% | 8h | 7.7837 | +0.085% | $35.7M | $94.3M | 75x | as long as short |
| Bybit INJUSDTlong | +0.0100% | 8h | 7.7771 | long leg | $21.6M | $31.6M | 50x |
Reya INJRUSDPERP
Deribit INJ_USDC-PERPETUAL
gTrade (Gains Network) INJ/USD
dYdX INJ-USD
Aevo INJ-PERP
Orderly PERP_INJ_USDC
Kraken Futures PF_INJUSD
Aster INJUSDT
Binance INJUSDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX INJ-USDT-SWAP | +0.0100% | 8h | 7.7750 | −0.027% | $6.4M | $20.0M | 50x | as long as short |
| Gate INJ_USDT | +0.0100% | 8h | 7.7760 | −0.014% | $2.8M | $5.0M | 50x | as long as short |
| KuCoin INJUSDTM | +0.0100% | 8h | 7.7780 | +0.012% | $9.5M | $16.4M | 50x | as long as short |
| Bitget INJUSDT | +0.0100% | 8h | 7.7740 | −0.040% | $14.3M | $10.9M | 75x | as long as short |
| Variational Omni INJ | +0.0100% | 8h | 7.7746 | −0.032% | $272K | $157K | — | as long as short |
| ApeX Omni INJUSDT | +0.0100% | 1h | 7.7850 | +0.102% | $48K | $348K | 50x | as long as short |
| Extended INJ-USD | +0.0104% | 1h | 7.7775 | +0.005% | $118K | $460K | 10x | as long as short |
| BloFin INJ-USDT | +0.0220% | 8h | 7.7800 | +0.037% | $1.8M | $7.7M | 75x | as long as short |
| BingX INJ-USDT | +0.0271% | 8h | 7.7780 | +0.012% | — | $21.4M | — | as long as short |
| MEXC INJ_USDT | +0.0285% | 8h | 7.7820 | +0.063% | $31.6M | $22.9M | 300x | as long as short |
| GMX INJ/USD [WBTC.b-USDC] | L +0.0354% / S −0.0418% | 1h | 7.7792 | +0.028% | $46K | — | 100x | as long as short |
| Coinbase International INJ-PERP-INTX | +0.0640% | 1h | 7.8270 | +0.642% | $383K | $714K | 50x | as long as short |
| Hyperliquid INJshort | +0.0771% | 1h | 7.7872 | +0.130% | $26.5M | $9.6M | 5x | |
| Injective INJ/USDC PERP | +0.1367% | 1h | 7.8100 | +0.423% | $320K | $12.1M | 30x | as long as short |
OKX INJ-USDT-SWAP
Gate INJ_USDT
KuCoin INJUSDTM
Bitget INJUSDT
Variational Omni INJ
ApeX Omni INJUSDT
Extended INJ-USD
BloFin INJ-USDT
BingX INJ-USDT
MEXC INJ_USDT
GMX INJ/USD [WBTC.b-USDC]
Coinbase International INJ-PERP-INTX
Injective INJ/USDC PERP