DOT

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0011%/8h= +1.2% APRnext payment +$0.01 per $10,000 · paid last 24h +0.023%

Price spread now: Backpack against Injective−1.473%72s7-day average −0.564% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 4 days (all we have)+1.481%+$148 · spread now −1.473%, 7d avg −0.564%

Together, before fees+1.534%+$153 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.908% cheaper against Injective than usual: you would sell low and buy high (spread −1.473% now, against its 7-day average of −0.564%). If the spread goes back, that is −$91 on $10k: about 9 months of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.053% in total) that is about 4 months. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective DOT/USDC PERP	1.2020	0.0033	pay 0.0004% / 1h	57m 44s	$328	$121K	12x
Short	Backpack DOT_USDC_PERP	1.1843	0.0044	get 0.0006% / 1h	57m 44s	$92K	$129K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee BackpackbpOrdersPrice spread, now −1.473%Rate

Funding earned: $2.24
Price spread: −1.473% → −0.564%: −$90.83
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$98.61
Costs to cover: 0.100%
Break-even: 314.6 days

Slippage unknown: Injective: no order-book sample; Backpack: live order book, just now. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Injective no order-book sample	—	—	—	—	—
Sell Backpack live order book, just now	0.42 bp	5.9 bp −$6	156.9 bp −$1,569	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

DOT on 29 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit DOT_USDC-PERPETUAL	−0.2440%	1h	1.1865	−1.290%	$226K	$114K	50x	as long as short
Coinbase International DOT-PERP-INTX	−0.0608%	1h	1.1860	−1.331%	$195K	$1.9M	50x	as long as short
Reya DOTRUSDPERP	−0.0166%	1h	1.1859	−1.338%	$257	—	—	as long as short
dYdX DOT-USD	0.0000%	1h	1.1834	−1.547%	$142K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1864	−1.301%	$3K	—	150x	as long as short
Injective DOT/USDC PERPlong	+0.0033%	1h	1.2020	long leg	$328	$121K	12x
Backpack DOT_USDC_PERPshort	+0.0044%	1h	1.1843	−1.473%	$92K	$129K	10x
Lighter DOT	+0.0096%	1h	1.1833	−1.552%	$267K	$632K	10x	as long as short
OKX DOT-USDT-SWAP	+0.0100%	8h	1.1829	−1.589%	$9.4M	$24.1M	50x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1829	−1.589%	$5.3M	$3.5M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster DOTUSDT	+0.0100%	8h	1.1833	−1.554%	$854K	$709K	50x	as long as short
Binance DOTUSDT	+0.0100%	8h	1.1834	−1.547%	$43.5M	$85.2M	75x	as long as short
Bybit DOTUSDT	+0.0100%	8h	1.1831	−1.572%	$24.3M	$19.0M	75x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.1820	−1.664%	$6.7M	$11.7M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1830	−1.581%	$34.5M	$50.5M	300x	as long as short
KuCoin DOTUSDTM	+0.0100%	8h	1.1831	−1.572%	$6.5M	$9.1M	75x	as long as short
Bitget DOTUSDT	+0.0100%	8h	1.1820	−1.664%	$22.6M	$14.8M	75x	as long as short
BingX DOT-USDC	+0.0100%	8h	1.1819	−1.672%	—	$1.3M	—	as long as short
Variational Omni DOT	+0.0100%	8h	1.1873	−1.222%	$540K	$58K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1871	−1.239%	$35K	$336K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1874	−1.215%	$226K	$407K	10x	as long as short
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1860	−1.331%	$8K	$24K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1870	−1.248%	$2K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1877	−1.190%	$258K	$242K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1831	−1.574%	$14K	$303K	25x	as long as short
Phemex DOTUSDT	+0.0208%	8h	1.1860	−1.331%	$2.3M	$2.2M	50x	as long as short
Kraken Futures PF_DOTUSD	+0.0214%	1h	1.1860	−1.335%	$4.4M	$1.5M	50x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1867	−1.273%	$2.2M	$873K	75x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0302% / S −0.1012%	1h	1.1863	−1.303%	$22K	—	100x	as long as short