INJ-PERPCrypto · Layer 1Trade Injective (INJ) Perpetual Futures
Go long or short on Injective with up to 100x leverage. No KYC, no sign-up: connect your wallet and trade 24/7.
- No KYC
- No sign-up
- Self-custody
- Up to 100x leverage
- Mark price
- 7.249
- 24h high
- 7.536
- 24h low
- 7.052
- 24h volume
- 177.8K USDT
Injective is a layer-1 blockchain designed for financial applications. It was founded by Injective Labs, led by Eric Chen and Albert Chon, and was incubated by Binance Labs in 2018. The network is built with the Cosmos SDK and connects to other chains in the Cosmos ecosystem through the Inter-Blockchain Communication protocol.
What sets Injective apart is that it provides finance-specific building blocks at the chain level. These include a fully on-chain order book that applications can share, which is used to build exchanges for spot, perpetual futures and other derivatives markets. The chain supports smart contracts through CosmWasm and has added native support for Ethereum-style (EVM) contracts, so developers can build with familiar tools. Injective has also focused on tokenized real-world assets and on-chain markets for traditional instruments.
The INJ token is used for staking to secure the network, governance and paying fees. A portion of fees collected by applications is used in regular burn auctions, in which INJ is bought and permanently removed from supply. Traders follow INJ as one of the main tokens tied to on-chain derivatives and decentralized finance infrastructure.
INJ's price is closely tied to activity on the Injective chain. Trading volume on applications built on its order book, growth in derivatives and real-world asset markets, and the size of burn auctions are all watched, since higher usage means more INJ removed from supply. Governance changes to tokenomics, such as adjustments to inflation and burn mechanics, have been treated as notable events.
Technical upgrades, including its EVM support, and new applications or institutional products built on the chain can shift sentiment. INJ also follows the broader decentralized finance sector and overall crypto market conditions.
The INJ perpetual is a futures contract on the price of Injective with no expiry date. You never own Injective itself: you go long if you expect the price to rise or short if you expect it to fall, and settle profit and loss in USDT.
You choose your leverage, up to 100x. Margin is cross: your whole perpetual balance backs every open position. Positions are valued at a mark price taken from market data, which can differ from the last trade, and an order more than 20% away from the mark price is rejected.
- 1Connect a wallet. Connect MetaMask, or log in with email or Google, and sign the login message.
- 2Deposit USDT. Deposit USDT and move it to your perpetual account to use as margin.
- 3Choose long or short and your leverage. Open the INJ market, pick a direction and leverage, and place a market or limit order.
- 4Manage the position. Set a take-profit or stop-loss, add margin, or close the position whenever you like.
| Topic | Max Orion | Centralized exchange |
|---|---|---|
| Sign-up | No KYC: connect a wallet and sign a message | Email, password and identity checks |
| Your account | Your wallet address is your account | A username held by the exchange |
| Orders | Every order is signed by your wallet | Orders sent under a logged-in session |
| Hours | Crypto, gold and oil, 24/7 | Commodities often follow market hours |
Leverage multiplies losses as well as gains. If the Injective price moves against your position far enough that your perpetual balance, including unrealized losses, falls below the maintenance margin, positions are closed automatically at the prevailing price and you can lose your whole balance. A stop-loss becomes a market order when triggered and is not guaranteed to fill at its price. Only trade with money you can afford to lose. INJ is a mid-cap layer-1 token with a strong link to DeFi activity, and it tends to be more volatile than Bitcoin or Ether.
Frequently asked questions
A INJ perpetual is a futures contract on the price of Injective with no expiry date. You go long if you expect the price to rise or short if you expect it to fall, post margin in USDT, and keep the position open for as long as your margin covers it.
You can trade Injective perpetuals with up to 100x leverage. The higher the leverage, the smaller the price move against you that liquidates the position.
No. There is no KYC and no sign-up form. You connect a wallet and sign a message to log in — self-custody wallet sign-in, with no password — then deposit USDT to start trading.
Every market settles in USDT, with cross margin: your whole perpetual balance backs all of your open positions, so a profit on one adds margin to the others and a loss on one reduces the margin left for all of them.
A perpetual has no expiry, so a periodic funding payment between longs and shorts keeps its price close to the underlying market. When the perpetual trades above the underlying, longs pay shorts; when it trades below, shorts pay longs.
A maker order, which waits in the order book, pays 0.02% of its value. A taker order, which fills immediately, pays 0.06%.
Leverage multiplies losses as well as gains. If the price moves against your position far enough that your margin no longer covers it, the position is liquidated and the margin is lost. Only trade with money you can afford to lose.
