Funding you earn now, next payment 23:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h −0.089%
Price spread now: Injective against Hyperliquid−2.065%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 2.065% cheaper against Hyperliquid than usual: you would sell low and buy high (−$207 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 | 0.5084 | 0.0100 | pay 0.0013% / 1h | 38m 37s | $9.9M | $7.3M | 5x |
| Short | Injective SPX/USDC PERP | 0.4979 | 0.0033 | get 0.0004% / 1h | 38m 37s | $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: −2.065% → 0.000%
- −$206.53
- 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
- −$229.55
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 4 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, 4 min ago | 3.14 bp | 22.0 bp −$22 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SPXUSD | −0.1232% | 1h | 0.5087 | +0.052% | $235K | $552K | 20x | as long as short |
| Injective SPX/USDC PERPshort | +0.0033% | 1h | 0.4979 | −2.065% | $9 | $4K | 5.5x | |
| Lighter SPX | +0.0096% | 1h | 0.5083 | −0.018% | $117K | $319K | 5x | as long as short |
| Variational Omni SPX | +0.0098% | 4h | 0.5088 | +0.087% | $888K | $1.3M | — | as long as short |
| Hyperliquid SPXlong | +0.0100% | 1h | 0.5084 | long leg | $9.9M | $7.3M | 5x | |
| Aster SPXUSDT | +0.0100% | 4h | 0.5091 | +0.143% | $128K | $103K | 10x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5083 | −0.025% | $5.1M | $19.9M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5075 | −0.177% | $11.8M | $15.4M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5074 | −0.197% | $992K | $2.7M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5083 | −0.020% | $1.1M | $476K | 50x | as long as short |
Kraken Futures PF_SPXUSD
Lighter SPX
Variational Omni SPX
Aster SPXUSDT
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPX_USDT | +0.0100% | 4h | 0.5084 | 0.000% | $11.5M | $4.6M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5085 | +0.020% | $3.8M | $5.2M | 50x | as long as short |
| Bitget SPXUSDT | +0.0100% | 4h | 0.5083 | −0.020% | $2.6M | $1.4M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5086 | +0.039% | — | $6.9M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5093 | +0.177% | $46K | $247K | 25x | as long as short |
| Orderly PERP_SPX_USDC | +0.0100% | 4h | 0.5096 | +0.236% | $20K | $711 | 10x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5080 | −0.079% | $8K | $1.6M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5077 | −0.145% | $35K | $227K | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5086 | +0.039% | $254K | $940K | 75x | as long as short |
MEXC SPX_USDT
KuCoin SPXUSDTM
Bitget SPXUSDT
BingX SPX-USDT
ApeX Omni SPXUSDT
Orderly PERP_SPX_USDC
SunX SPX-USDT
Extended SPX-USD
BloFin SPX-USDT