Funding you earn now, next payment 22:00 UTC+0.3593%/8h= +393.4% APRnext payment +$4.49 per $10,000 · paid last 24h +0.341%
Price spread now: Injective against Deribit+1.045%7-day average −0.604% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 6 days (all we have)+0.518%+$52 on $10k
+Price spread, last 3 days (all we have)−1.535%−$153 · spread now +1.045%, 7d avg −0.604%
=Both sides work for this trade now. Funding pays +$108 a day on $10k at the current rate, and Injective is 1.650% dearer against Deribit than usual: you sell high and buy low: +$165 more if the spread goes back to its 7-day average of −0.604%.
The current funding rate is far above what this pair has been paying: over the last 6 days it paid 0.518% in total (about 34.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.49 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit FET_USDC-PERPETUAL | 0.2009 | −0.3222 | get 0.0403% / 1h | 48m 33s | $26K | $230K | 10x |
| Short | Injective FET/USDC PERP | 0.2030 | 0.0371 | get 0.0046% / 1h | 48m 33s | $3K | $118K | 12x |
Deribit FET_USDC-PERPETUAL
Injective FET/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $754.51
- Price spread: +1.045% → −0.604%
- $164.97
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $912.46
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Deribit: live order book, 40 min ago; Injective: no order-book sample. 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 Deribit live order book, 40 min ago | 7.40 bp | 10.9 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
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.
FET on 20 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 FET_USDC-PERPETUALlong | −0.3222% | 1h | 0.2009 | long leg | $26K | $230K | 10x | |
| Coinbase International FET-PERP-INTX | −0.0480% | 1h | 0.2013 | +0.199% | $160K | $188K | 50x | as long as short |
| Gate FET_USDT | −0.0102% | 8h | 0.2007 | −0.100% | $2.7M | $11.8M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0012% | 1h | 0.2009 | −0.008% | $32K | — | 150x | as long as short |
| Kraken Futures PF_FETUSD | +0.0032% | 1h | 0.2012 | +0.164% | $1.0M | $2.1M | 50x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2009 | −0.019% | $346K | $527K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2007 | −0.100% | $31.3M | $107.1M | 75x | as long as short |
| OKX FET-USDT-SWAP | +0.0100% | 4h | 0.2007 | −0.100% | $855K | $7.5M | 20x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2008 | −0.050% | $35.3M | $25.2M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2008 | −0.050% | $10.4M | $18.9M | 50x | as long as short |
Coinbase International FET-PERP-INTX
Gate FET_USDT
gTrade (Gains Network) FET/USD
Kraken Futures PF_FETUSD
Aster FETUSDT
Binance FETUSDT
OKX FET-USDT-SWAP
MEXC FET_USDT
KuCoin FETUSDTMShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX FET-USDT | +0.0100% | 8h | 0.2009 | 0.000% | — | $5.6M | — | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.2007 | −0.124% | $273K | $315K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2007 | −0.100% | $37K | $5K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2009 | −0.010% | $32K | $144K | 10x | as long as short |
| Bitget FETUSDT | +0.0113% | 8h | 0.2010 | +0.050% | $16.4M | $11.4M | 75x | as long as short |
| Hyperliquid FET | +0.0165% | 1h | 0.2011 | +0.119% | $9.0M | $7.6M | 5x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2008 | −0.059% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2008 | −0.050% | $1.7M | $2.6M | 100x | as long as short |
| Injective FET/USDC PERPshort | +0.0371% | 1h | 0.2030 | +1.045% | $3K | $118K | 12x | |
| Phoenix FET | +0.0476% | 1h | 0.2012 | +0.134% | $27K | $37K | 5x | as long as short |
BingX FET-USDT
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
Bitget FETUSDT
Hyperliquid FET
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
Phoenix FET