Funding you earn now, next payment 11:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h −0.036%
Price spread now: Injective against Hyperliquid+1.853%93s7-day average — · you sell dearer than you buy
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
The price spread pays, funding is against you. Injective is 1.853% dearer against Hyperliquid than usual: you sell high and buy low (spread +1.853% now, against zero (this spread has no 7-day history yet)): +$185 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3 months. The two prices were read 93 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid W | 0.01187 | 0.0100 | pay 0.0013% / 1h | 57m 37s | $2.0M | $258K | 5x |
| Short | Injective W/USDC PERP | 0.01209 | 0.0033 | get 0.0004% / 1h | 57m 37s | $1K | $1K | 12x |
Hyperliquid W
Injective W/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: +1.853% → 0.000%
- $185.34
- 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
- $162.32
- Costs to cover
- 0.090%
- Break-even
- from the start
Slippage unknown: Hyperliquid: live order book, 6 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, 6 min ago | 4.21 bp | 24.7 bp −$25 | 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.
W on 17 exchanges
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 W_USDC-PERPETUAL | −0.0761% | 1h | 0.01186 | −0.067% | $14K | $4K | 10x | as long as short |
| Injective W/USDC PERPshort | +0.0033% | 1h | 0.01209 | +1.853% | $1K | $1K | 12x | |
| Hyperliquid Wlong | +0.0100% | 1h | 0.01187 | long leg | $2.0M | $258K | 5x | |
| Binance WUSDT | +0.0100% | 4h | 0.01186 | −0.077% | $3.0M | $4.6M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01185 | −0.185% | $4.1M | $1.5M | 50x | as long as short |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01186 | −0.118% | $1.3M | $1.3M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01185 | −0.126% | $433K | $167K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01186 | −0.059% | $12.3M | $1.2M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01186 | −0.084% | $388K | $180K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01188 | +0.084% | $1.3M | $533K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Binance WUSDT
Bybit WUSDT
OKX W-USDT-SWAP
Gate W_USDT
MEXC W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDT | +0.0100% | 4h | 0.01186 | −0.101% | — | $6.6M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01185 | −0.129% | $69K | $21K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01187 | +0.015% | $127K | $375K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01186 | −0.099% | $60K | $392K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0640% | 1h | 0.01190 | +0.278% | $13K | $12K | 50x | as long as short |
| Kraken Futures PF_WUSD | +0.0876% | 1h | 0.01189 | +0.165% | $148K | $47K | 20x | as long as short |
| Backpack W_USDC_PERP | +0.0988% | 1h | 0.01188 | +0.067% | $45K | $46K | 15x | as long as short |
BingX W-USDT
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Kraken Futures PF_WUSD
Backpack W_USDC_PERP