Funding you earn now, next payment 22:00 UTC−0.0686%/8h= −75.1% APRnext payment −$0.86 per $10,000 · paid last 24h −0.042%
Price spread now: Injective against Hyperliquid−0.120%53s7-day average −0.190% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.203%−$20 on $10k
+Price spread, last 3 days (all we have)−0.191%−$19 · spread now −0.120%, 7d avg −0.190%
=Together, before fees−0.394%+ Points / potential airdropHyperliquid: Season 2 · farm board−$39 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Injective is 0.070% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.120% now, against its 7-day average of −0.190%): +$7 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.203% in total) that is about 2.4 days. The two prices were read 53 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 -0.203% in total (about -10.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.86 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 PYTH | 0.06358 | 0.0100 | pay 0.0013% / 1h | 52m 25s | $1.7M | $1.4M | 5x |
| Short | Injective PYTH/USDC PERP | 0.06350 | −0.0586 | pay 0.0073% / 1h | 52m 25s | $561 | $180K | 5.5x |
Hyperliquid PYTH
Injective PYTH/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
- −$144.1
- Price spread: −0.120% → −0.190%
- $7.01
- 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
- −$146.11
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 8 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, 8 min ago | 1.10 bp | 17.4 bp −$17 | 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.
PYTH on 23 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 PYTH/USDC PERPshort | −0.0586% | 1h | 0.06350 | −0.120% | $561 | $180K | 5.5x | |
| Kraken Futures PF_PYTHUSD | −0.0215% | 1h | 0.06357 | −0.008% | $385K | $240K | 25x | as long as short |
| Gate PYTH_USDT | −0.0118% | 4h | 0.06350 | −0.120% | $1.1M | $463K | 75x | as long as short |
| BloFin PYTH-USDT | −0.0046% | 4h | 0.06334 | −0.371% | $419K | $122K | 75x | as long as short |
| MEXC PYTH_USDT | −0.0018% | 4h | 0.06353 | −0.072% | $9.4M | $2.4M | 125x | as long as short |
| Binance PYTHUSDT | −0.0016% | 4h | 0.06351 | −0.102% | $9.0M | $16.0M | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06354 | −0.058% | $189K | $19 | 5x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0048% | 1h | 0.06431 | +1.155% | $40K | $9K | 25x | as long as short |
| Bybit PYTHUSDT | +0.0076% | 4h | 0.06351 | −0.104% | $7.5M | $5.0M | 50x | as long as short |
| Aevo PYTH-PERP | +0.0080% | 1h | 0.06400 | +0.668% | $23K | — | 3x | as long as short |
Kraken Futures PF_PYTHUSD
Gate PYTH_USDT
BloFin PYTH-USDT
MEXC PYTH_USDT
Binance PYTHUSDT
dYdX PYTH-USD
Coinbase International PYTH-PERP-INTX
Bybit PYTHUSDT
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter PYTH | +0.0096% | 1h | 0.06361 | +0.053% | $197K | $203K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0098% | 8h | 0.06352 | −0.086% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTHlong | +0.0100% | 1h | 0.06358 | long leg | $1.7M | $1.4M | 5x | |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06356 | −0.021% | $20K | $26K | 10x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06351 | −0.104% | $2.1M | $3.3M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06357 | −0.009% | $1.5M | $311K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06350 | −0.120% | $2.6M | $1.9M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06352 | −0.088% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06358 | +0.006% | $44K | $23K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06354 | −0.055% | $3K | $1K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06350 | −0.113% | — | — | 20x | as long as short |
| Backpack PYTH_USDC_PERP | +0.0421% | 1h | 0.06361 | +0.052% | $38K | $88K | 10x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | +0.0536% | 1h | 0.06367 | +0.148% | $10K | $10K | 10x | as long as short |
Lighter PYTH
Paradex PYTH-USD-PERP
Aster PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP
Backpack PYTH_USDC_PERP
Deribit PYTH_USDC-PERPETUAL