Injective launches onchain futures market tracking Nvidia GPU rental costs
The new index tracks rental prices for five Nvidia GPUs, offering leveraged trading and potential hedging against fluctuations in AI computing costs.
Layer-1 blockchain Injective has launched a perpetual futures market tracking the rental prices of five Nvidia GPUs, allowing traders to bet on changes in AI computing costs with up to 10x leverage.
The Super Intelligence Compute Index (SICI) tracks rental prices for Nvidia’s H100, B200, H200, A100 and RTX 4090 chips, using data from compute marketplaces compiled by London-based market data firm LO:TECH.
According to Monday’s announcement, the index assigns the largest weight to the H100 at 40%, followed by the B200 at 25%. It is updated hourly using a trailing seven-day average of rental prices. Traders can take positions on whether the index will rise or fall, using USDC as margin.