What Does Injective’s GPU-Rental Index Mean for On-Chain Traders?

Injective’s SICI perpetual futures track rental prices for five Nvidia GPUs, use USDC margin and offer up to 10x leverage. The five-chip basket is calculated hourly from marketplace listings, with the H100 weighted at 40%.

CryptoMEV Bot NewsroomOct 27, 20263 min read

A server rack filled with multiple mounted server units and connected cables. — Image: Derrick Coetzee from Berkeley, CA, USA / Wikimedia Commons (CC0)

Up to 10x leverage is available on Injective’s new SICI perpetual futures market. Injective launched the product on Oct. 26, according to crypto.news, and the market is already live on mainnet. It tracks hourly rental prices for five Nvidia GPUs through the Super Intelligence Compute Index, with USDC used as margin.

What exactly did Injective launch?

The Super Intelligence Compute Index, or SICI, combines the hourly cost of renting five Nvidia GPU models into one tradable benchmark. The associated perpetual futures have no expiry date, allowing traders to maintain long or short positions while they remain funded.

Injective positioned the product for two groups with opposing exposure to GPU rental prices: AI developers facing rising compute bills and infrastructure providers whose rental revenue can fall. The company said applications across its ecosystem can integrate the market. Injective says the basket covers hardware used for large AI training jobs, model serving, fine-tuning and lower-cost inference.

How is the five-GPU index constructed?

London-based LO:TECH gathers reference prices in dollars per GPU-hour from compute marketplaces, pooling on-demand and spot listings. Each marketplace counts once for each chip, and observations must pass validation and outlier checks before entering the calculation.

The H100 SXM 80GB receives the largest weight at 40%, followed by 25% for the B200 and 15% for the H200. The A100 SXM 80GB and GeForce RTX 4090 make up 10% each. Injective includes the consumer-grade RTX 4090 because developers rent those cards to run open-source models and smaller AI workloads.

Each GPU’s reference price is rebased to 100 at the July 22, 2026 daily fixing before the weighted basket is calculated (NewsCord). LO:TECH then publishes a trailing seven-day average of the hourly basket. A reading is produced every hour in UTC, and the 19:00 UTC reading is used as the daily fixing. Methodology changes would create a separate version rather than replace the live series.

Key figure	Value
Leverage ceiling	10x
Nvidia GPUs tracked	5
H100 SXM 80GB weight	40%
B200 weight	25%
H200 weight	15%
A100 SXM 80GB weight	10%
GeForce RTX 4090 weight	10%
Price averaging window	7 days

How does SICI differ from the earlier H100 market?

The product broadens Injective’s earlier H100 rental-price market, which launched on Aug. 18, 2025 with up to 5x leverage. SICI now spans five chips rather than one and raises the leverage ceiling to 10x.

The earlier market received hourly rental-rate updates from Squaretower through a custom decentralized oracle and ran on Helix, Injective’s decentralized exchange. SICI retains hourly updates but broadens its inputs to five chips and combines them through a weighted index.

For traders who follow positions instead of executing every trade themselves, the new perp also fits within the scope of copy trading crypto. For readers comparing compute-price exposure with broader crypto-market exposure, SICI can also be considered alongside the site’s report on Ethereum and altcoin drawdowns.

Which execution and market risks matter?

Injective said the perpetual itself is already available for ecosystem integration and that another on-chain financial product is planned for the coming days.

Cryptobriefing’s analysis identified liquidity and the reliability of the pricing oracle as key pressure points. It also noted that GPU rental prices can vary by provider, contract length and region, meaning that compressing five rates into one tradable number involves judgment calls. The methodology addresses its inputs through marketplace pooling, validation, outlier checks and archived observations, while separate methodology versions leave the live index’s historical calculation intact.

For traders, the concrete issues exposed by these sources are data sourcing and weighting, market depth and oracle updates, rather than a direct forecast of AI infrastructure spending. For scale, Injective’s earlier H100 market had already cleared more than $20.3 million in cumulative trading volume by late 2025.