Injective (INJ) perpetual futures
INJ perpetual contracts on 25 reviewed venues.
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Funding rates
Annualized rates across exchanges
MEXCCEX
BingXCEX
BinanceCEX
BybitCEX
OKXCEX
Open interest
Per-exchange open interest
Bybit
Bitget
Gate.io
Hyperliquid
KuCoinOKX
PhemexWhat the INJ data shows
10 of 18 venues quote the same INJ funding rate, +10.95% a year. The exceptions are Kraken at +42.88%, MEXC at +30.77%, BingX at +29.24%, and 5 more.
No venue holds half of the $73.9m in reported INJ open interest. Bybit has the largest share, 28.8%, and Bitget is next with 19.5%.
The INJ settlement periods differ: 12 venues settle every 8 hours; 3 venues settle every hour.
Kraken quoted INJ at $7.70 and KuCoin at $7.68, a gap of 16.4 bps.
CoinGecko ranked INJ number 90 by market value on October 3, 2026, at $772.9m. Its price fell 1.1% in the 7 days before that date. The open interest in this read equals 9.6% of that value.
- Source: public APIs of 18 venues for INJ, read at October 3, 2026, 07:06 UTC.
- Market value: CoinGecko snapshot of October 3, 2026.
Where to Trade Injective (INJ) Perpetual Futures
Fees and leverage limits apply venue-wide; confirm INJ limits with the venue.
| Venue | Maker | Taker | Max leverage | Rating | Trade |
|---|---|---|---|---|---|
| 0.015% | 0.045% | 40x | 9.2 | INJ | |
| 0.010% | 0.050% | 50x | 9.0 | INJ | |
| 0.04% or 0.06% position fee | 100x | 8.5 | INJ | ||
| 0.035% position fee | 1000x | 8.0 | INJ | ||
| 0.010% | 0.035% | 50x | 8.0 | INJ | |
| 0.020% | 0.050% | 100x | 8.0 | INJ | |
| 0.010% | 0.020% | 100x | 7.8 | INJ | |
| Free | 0.030% | 50x | 7.8 | INJ | |
| -0.010% | 0.017% | 1000x | 7.8 | INJ | |
| 0.050% | 0.080% | 20x | 7.5 | INJ | |
| Free | 0.040% | 200x | 7.5 | INJ | |
| 0.040% | 0.045% | 100x | 7.5 | INJ | |
| Free | 0.000% | 50x | 7.5 | INJ | |
| Free | 0.000% | 50x | 7.5 | INJ | |
| 0.03% position fee | 100x | 7.5 | INJ | ||
| 0.01% or 0.045% position fee | 100x | 7.0 | INJ | ||
| 0.045% or 0.055% position fee | 100x | 7.0 | INJ | ||
| Free | 0.025% | 100x | 7.0 | INJ | |
| -0.000% | 0.045% | 50x | 7.0 | INJ | |
| 0.04% or 0.06% position fee | 100x | 6.5 | INJ | ||
| 0.020% | 0.050% | 100x | 6.5 | INJ | |
| 0.020% | 0.050% | 50x | 6.5 | INJ | |
| 0.015% | 0.040% | 50x | 6.5 | INJ | |
| 0.010% | 0.035% | 100x | 6.0 | INJ | |
| 0.020% | 0.050% | 100x | 6.0 | INJ | |
Injective (INJ) market overview
INJ perps are the primary way to trade exposure to the Injective Protocol ecosystem — a Cosmos-based L1 built specifically for financial applications. Injective's architecture includes a native order book, MEV-resistant sequencing, and a token burn mechanism tied to weekly protocol fee auctions.
That burn has made INJ one of the few altcoins with a live deflationary feedback loop, which gives its funding profile a distinct character.
Venue structure
You can trade INJ perps on Binance, Bybit, and OKX, plus Hyperliquid on the DEX side. The asset has higher DEX venue presence than most Cosmos tokens, partly because Injective's own Helix exchange operates natively on the chain and attracts DeFi-native traders.
CEX venues still dominate total OI. Coinalyze's INJ open interest data shows OI that has grown significantly since INJ's 2023 price run.
The deepest INJ book is on Binance, with Bybit competitive. For positions above $250k notional, splitting across Binance and Bybit provides better fills than either venue alone.
The burn mechanism and funding dynamics
INJ's weekly token burn auction creates a predictable event cycle. Each week, protocol revenue is used to buy back and burn INJ, reducing supply. A scheduled burn reduces supply on a known date, so traders open positions before it.
The effect is smaller than Bitcoin's halving cycle but consistent enough to appear in the funding data.
The burn rate is publicly visible on Injective's stats dashboard, making the upcoming burn amount a knowable trading input rather than speculation. When protocol revenue is elevated (high on-chain trading volume on Helix), burn amounts are larger, and the pre-burn funding buildup is more pronounced.
Cross-chain financial narrative risk
INJ's thesis as a financial L1 competes with both Ethereum's DeFi dominance and Solana's speed narrative. If institutional perp trading migrates toward Hyperliquid or other purpose-built venues, Injective's competitive position weakens. Monitor the funding rates tool for INJ relative to other DeFi infrastructure tokens. Check the /exchanges page for venue comparisons.
Frequently Asked Questions — Injective (INJ)
What funding data is available for INJ?
18 venues report an INJ funding rate in this read.
An annualized INJ rate extrapolates one reading and does not predict a return.
What open interest data is available for INJ?
14 venues report positive INJ open interest in this read.
The INJ total leaves out venues outside the read.
Which mapped venue has the lowest recorded INJ taker fee?
Paradex lists 0.000% and Lighter lists 0.000%, the two lowest of 19 mapped INJ maker/taker schedules.
6 INJ venues charge a position fee and are not compared.
Category: Layer 1