🥷 Injective Signals API

Prediction market-style analytics derived from Injective perpetual futures data

A developer-focused API that transforms raw Injective exchange data into actionable trading signals, sentiment indicators, and market health metrics.

🎯 What It Does

This API provides derived signals and computed analytics on top of Injective's perpetual futures markets:

Signal Type	Description
Implied Probability	Bull/bear probability estimates derived from funding rates, orderbook imbalance, and momentum
Sentiment Indicator	Market sentiment score (-100 to +100) with categorical labels
Momentum Indicator	Price momentum with directional strength
Liquidity Score	Market depth and spread analysis
Funding Rate Signals	Contrarian signals from funding rate extremes
Market Health Score	Overall market quality grade (A-F)
Conviction Ranking	Cross-market signal strength comparison

📡 Injective Data Sources

Overview

The Injective Signals API uses official Injective SDK packages to fetch real-time data from Injective's indexer infrastructure. All signals and analytics are calculated locally from this raw data.

Data Sources

Source	SDK Class	Description
Indexer gRPC API	`IndexerGrpcDerivativesApi`	Markets, orderbooks, trades, funding rates
Chronos REST API	`IndexerRestDerivativesChronosApi`	Market summaries (OHLCV, 24h change)

SDK Packages

{
  "@injectivelabs/sdk-ts": "^1.17.7",
  "@injectivelabs/networks": "^1.17.7"
}

Methods Used

IndexerGrpcDerivativesApi

Method	Description	Used In
`fetchMarkets()`	List all derivative markets	`/api/markets`
`fetchOrderbookV2(marketId)`	Get orderbook (bids/asks)	`/api/markets/{id}/orderbook`, signals
`fetchTrades({ marketId, pagination })`	Get recent trades	`/api/markets/{id}/trades`, signals
`fetchFundingRates({ marketId, pagination })`	Get funding rate history	`/api/funding`, signals

IndexerRestDerivativesChronosApi

Method	Description	Used In
`fetchMarketSummary(marketId)`	Get 24h OHLCV data	Signals, momentum calculation

Network Configuration

import { getNetworkEndpoints, Network } from "@injectivelabs/networks";

const endpoints = getNetworkEndpoints(Network.Mainnet);
// endpoints.indexer — gRPC indexer endpoint
// endpoints.chronos — Chronos REST endpoint

The API supports both mainnet (default) and testnet via the NETWORK environment variable.

Data Flow

┌─────────────────────────────────────────────────────────────┐
│                    Injective Network                         │
└─────────────────────────────────────────────────────────────┘
                              │
                              ▼
┌─────────────────────────────────────────────────────────────┐
│                   Injective Indexer                          │
│  ┌─────────────────────┐  ┌─────────────────────────────┐   │
│  │  gRPC Derivatives   │  │  Chronos REST API           │   │
│  │  - Markets          │  │  - Market Summaries         │   │
│  │  - Orderbooks       │  │  - OHLCV Data               │   │
│  │  - Trades           │  │  - 24h Statistics           │   │
│  │  - Funding Rates    │  │                             │   │
│  └─────────────────────┘  └─────────────────────────────┘   │
└─────────────────────────────────────────────────────────────┘
                              │
                              ▼
┌─────────────────────────────────────────────────────────────┐
│                 Injective Signals API                        │
│  ┌─────────────────────────────────────────────────────┐    │
│  │              Signal Calculations                     │    │
│  │  - Implied Probability (funding + orderbook)        │    │
│  │  - Sentiment Index (funding + imbalance + volume)   │    │
│  │  - Momentum Score (price changes + volume)          │    │
│  │  - Liquidity Score (depth + spread)                 │    │
│  │  - Conviction Ranking (combined signals)            │    │
│  └─────────────────────────────────────────────────────┘    │
└─────────────────────────────────────────────────────────────┘
                              │
                              ▼
┌─────────────────────────────────────────────────────────────┐
│                      API Endpoints                           │
│  GET /api/markets      - Raw market data                    │
│  GET /api/signals      - Calculated trading signals         │
│  GET /api/funding      - Funding rate analysis              │
│  GET /api/conviction   - Market conviction rankings         │
└─────────────────────────────────────────────────────────────┘

Raw Data vs Calculated Signals

Raw Data (from Injective)

Market metadata (ticker, fees, margin requirements)
Orderbook depth (bids/asks with price and quantity)
Trade history (execution price, quantity, side)
Funding rates (hourly rates)
Market summaries (24h OHLCV)

Calculated Signals (by this API)

Implied Probability — Bullish/bearish probability based on funding rate, orderbook imbalance, and momentum
Sentiment Index — Market sentiment score (-100 to +100) with fear/greed labels
Momentum Score — Price momentum based on 1h and 24h price changes
Liquidity Score — Market liquidity based on spread and depth
Conviction Ranking — Combined signal strength for trade conviction

References

🚀 Quick Start

Local Development

npm install
cp .env.example .env
npm run dev

Deploy to Vercel

Option 1: One-Click Deploy

Option 2: CLI Deploy

# Install Vercel CLI
npm i -g vercel

# Deploy (from project root)
vercel

# Deploy to production
vercel --prod

Option 3: GitHub Integration

Push to GitHub
Go to vercel.com
Import your repository
Deploy automatically on every push

Test the API

# Health check
curl http://localhost:3000/api/health

# List all markets
curl http://localhost:3000/api/markets?status=active

# Get signals for a market
curl http://localhost:3000/api/signals/0x...marketId

# Get conviction ranking
curl http://localhost:3000/api/conviction

📡 API Endpoints

Interactive Documentation

Visit /docs for the interactive Swagger UI where you can explore and test all endpoints.

Swagger UI: https://your-app.vercel.app/docs
OpenAPI Spec: https://your-app.vercel.app/api/openapi

Markets

Endpoint	Description
`GET /api/markets`	List all derivative markets
`GET /api/markets/:marketId`	Get single market details
`GET /api/markets/:marketId/orderbook`	Get orderbook depth
`GET /api/markets/:marketId/trades`	Get recent trades

Signals (Core Analytics)

Endpoint	Description
`GET /api/signals`	Get signals for all markets
`GET /api/signals/:marketId`	Get comprehensive signals for a market
`GET /api/signals/:marketId/probability`	Get implied probability only
`GET /api/signals/:marketId/sentiment`	Get sentiment indicator only

Funding Rate Analysis

Endpoint	Description
`GET /api/funding`	Get funding rate extremes across all markets
`GET /api/funding/:marketId`	Get detailed funding rate analysis

Market Health

Endpoint	Description
`GET /api/health/:marketId`	Get market health score and warnings

Conviction Ranking

Endpoint	Description
`GET /api/conviction`	Get conviction ranking across all markets

📊 Response Examples

Market Signal

{
  "success": true,
  "data": {
    "marketId": "0x...",
    "ticker": "BTC/USDT PERP",
    "timestamp": "2024-01-15T10:30:00Z",
    "markPrice": 42500.5,
    "lastTradePrice": 42498.0,
    "impliedProbability": {
      "bullish": 0.58,
      "bearish": 0.42,
      "confidence": 0.75,
      "signals": ["funding_rate", "orderbook_imbalance", "momentum"]
    },
    "sentiment": {
      "score": 23.5,
      "label": "greed",
      "components": {
        "fundingRate": 15.2,
        "orderbookImbalance": 28.4,
        "volumeTrend": 18.9
      }
    },
    "momentum": {
      "score": 32.1,
      "direction": "bullish",
      "priceChange": {
        "1h": 0.45,
        "24h": 2.15
      },
      "volumeChange24h": 1.08
    },
    "liquidity": {
      "score": 78.5,
      "depth": {
        "bids": {
          "atHalfPercent": 150000,
          "atOnePercent": 450000,
          "atTwoPercent": 890000
        },
        "asks": {
          "atHalfPercent": 145000,
          "atOnePercent": 420000,
          "atTwoPercent": 850000
        }
      },
      "spread": { "absolute": 0.5, "percentage": 0.0012 },
      "imbalanceRatio": 0.045
    },
    "metrics": {
      "fundingRate": 0.00015,
      "volume24h": 15400000,
      "openInterest": 0,
      "tradeCount24h": 4523,
      "high24h": 43200,
      "low24h": 41800
    }
  },
  "timestamp": "2024-01-15T10:30:00Z"
}

Funding Rate Analysis

{
  "success": true,
  "data": {
    "marketId": "0x...",
    "ticker": "BTC/USDT PERP",
    "currentRate": 0.00025,
    "predictedRate": 0.00018,
    "annualizedRate": 21.9,
    "extremeLevel": "positive",
    "signal": "sell",
    "history": [
      { "timestamp": "2024-01-15T10:00:00Z", "rate": 0.00025 },
      { "timestamp": "2024-01-15T09:00:00Z", "rate": 0.00022 }
    ]
  }
}

Conviction Ranking

{
  "success": true,
  "data": {
    "count": 10,
    "rankings": [
      {
        "marketId": "0x...",
        "ticker": "ETH/USDT PERP",
        "convictionScore": 72.5,
        "direction": "long",
        "strength": "strong",
        "factors": [
          {
            "factor": "funding_rate",
            "contribution": 25.0,
            "direction": "bullish"
          },
          {
            "factor": "orderbook_imbalance",
            "contribution": 18.5,
            "direction": "bullish"
          },
          { "factor": "momentum", "contribution": 29.0, "direction": "bullish" }
        ]
      }
    ]
  }
}

🔧 Configuration

Environment Variable	Description	Default
`NETWORK`	Injective network (`mainnet` or `testnet`)	`mainnet`
`PORT`	Server port	`3000`

📐 Signal Methodology

Implied Probability

Combines three signals with weighted contributions as an adjustment to a base score:

Funding Rate (±15%): Contrarian signal - high positive funding suggests overextended longs
Orderbook Imbalance (±15%): Bid/ask volume ratio indicates buying/selling pressure
Momentum (±10%): Recent price action contribution

Sentiment Score

Weighted composite of:

Funding Rate Component (40%)
Orderbook Imbalance Component (35%)
Volume Trend Component (25%)

Labels: extreme_fear | fear | neutral | greed | extreme_greed

Market Health Grade

Based on:

Liquidity (35%): Orderbook depth and value
Volatility (25%): 24h price range stability
Activity (25%): Trade count
Spread (15%): Bid-ask spread tightness

🛠 Injective Data Sources Used

Source	Data
`IndexerGrpcDerivativesApi`	Markets, orderbooks, trades, positions, funding rates
`IndexerRestDerivativesChronosApi`	24h market summaries

📦 Tech Stack

Runtime: Node.js + TypeScript
Framework: Express.js
Injective SDK: @injectivelabs/sdk-ts
Caching: In-memory with TTL

🏗 Project Structure

injective-signals-api/
├── src/
│   ├── index.ts              # Entry point
│   ├── routes/
│   │   └── index.ts          # API route definitions
│   ├── services/
│   │   ├── injectiveClient.ts  # Injective SDK wrapper
│   │   ├── marketDataService.ts # Raw data fetching + caching
│   │   └── signalsService.ts   # Signal calculations
│   └── types/
│       └── index.ts          # TypeScript type definitions
├── package.json
├── tsconfig.json
└── README.md

📜 License

MIT

🔗 Links

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🥷 Injective Signals API

🎯 What It Does

📡 Injective Data Sources

Overview

Data Sources

SDK Packages

Methods Used

IndexerGrpcDerivativesApi

IndexerRestDerivativesChronosApi

Network Configuration

Data Flow

Raw Data vs Calculated Signals

Raw Data (from Injective)

Calculated Signals (by this API)

References

🚀 Quick Start

Local Development

Deploy to Vercel

Test the API

📡 API Endpoints

Interactive Documentation

Markets

Signals (Core Analytics)

Funding Rate Analysis

Market Health

Conviction Ranking

📊 Response Examples

Market Signal

Funding Rate Analysis

Conviction Ranking

🔧 Configuration

📐 Signal Methodology

Implied Probability

Sentiment Score

Market Health Grade

🛠 Injective Data Sources Used

📦 Tech Stack

🏗 Project Structure

📜 License

🔗 Links

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