W

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h +0.036%

Price spread now: Hyperliquid against Injective−3.143%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Hyperliquid

What this pair did over the last

the charts below follow

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

Funding pays, the price is against you. Hyperliquid is 3.143% cheaper against Injective than usual: you would sell low and buy high (spread −3.143% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$314 on $10k: about 5 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective W/USDC PERP	0.01209	0.0033	pay 0.0004% / 1h	33m 22s	$1K	$1K	12x
Short	Hyperliquid W	0.01171	0.0100	get 0.0013% / 1h	33m 22s	$2.0M	$460K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee HyperliquidbpOrdersPrice spread, now −3.143%Rate

Funding earned: $14
Price spread: −3.143% → 0.000%: −$314.31
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$309.33
Costs to cover: 0.090%
Break-even: 161.7 days

Slippage unknown: Injective: no order-book sample; Hyperliquid: live order book, 8 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 8 min ago	4.25 bp	26.5 bp −$26	doesn't fit	doesn't fit	doesn't fit

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 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 W_USDC-PERPETUAL	−0.0859%	1h	0.01171	−3.118%	$17K	$1K	10x	as long as short
OKX W-USDT-SWAP	+0.0003%	4h	0.01170	−3.226%	$1.3M	$2.1M	20x	as long as short
Injective W/USDC PERPlong	+0.0033%	1h	0.01209	long leg	$1K	$1K	12x
Hyperliquid Wshort	+0.0100%	1h	0.01171	−3.143%	$2.0M	$460K	5x
Binance WUSDT	+0.0100%	4h	0.01171	−3.168%	$2.9M	$7.6M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01169	−3.284%	$4.1M	$2.1M	50x	as long as short
Gate W_USDT	+0.0100%	4h	0.01169	−3.275%	$442K	$301K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01171	−3.176%	$12.8M	$1.7M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01169	−3.309%	$419K	$216K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01171	−3.143%	$1.2M	$570K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01170	−3.226%	—	$6.9M	—	as long as short
Backpack W_USDC_PERP	+0.0100%	1h	0.01172	−3.036%	$44K	$47K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01170	−3.262%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01172	−3.081%	$122K	$409K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01171	−3.180%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0296%	1h	0.01173	−2.969%	$14K	$18K	50x	as long as short
Kraken Futures PF_WUSD	+0.0620%	1h	0.01174	−2.933%	$145K	$185K	20x	as long as short