Funding you earn now, next payment 02:00 UTC−0.4707%/8h= −515.4% APRnext payment −$5.88 per $10,000 · paid last 24h −0.497%
Price spread now: Deribit against Injective+0.547%63s7-day average +0.610% · 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)−0.733%−$73 on $10k
+Price spread, last 3 days (all we have)+0.229%+$23 · spread now +0.547%, 7d avg +0.610%
=Both sides work against this trade now: funding costs −$141 a day on $10k at the current rate, and Deribit is 0.063% cheaper against Injective than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.610%). Swap the legs. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 6 days it paid -0.733% in total (about -46.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.88 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 | Injective FET/USDC PERP | 0.2010 | 0.0033 | pay 0.0004% / 1h | 30m 10s | $3K | $166K | 12x |
| Short | Deribit FET_USDC-PERPETUAL | 0.2021 | −0.4674 | pay 0.0584% / 1h | 30m 10s | $29K | $231K | 10x |
Injective FET/USDC PERP
Deribit FET_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Injective. 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
- −$988.47
- Price spread: +0.547% → +0.610%
- −$6.28
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$1,001.77
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Deribit: live order book, 38 min ago. 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 Deribit live order book, 38 min ago | 4.87 bp | 13.2 bp −$13 | doesn't fit | 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.
FET on 19 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-PERPETUALshort | −0.4674% | 1h | 0.2021 | +0.547% | $29K | $231K | 10x | |
| Coinbase International FET-PERP-INTX | −0.0760% | 1h | 0.2019 | +0.448% | $147K | $216K | 50x | as long as short |
| Kraken Futures PF_FETUSD | −0.0740% | 1h | 0.2026 | +0.813% | $988K | $2.2M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0015% | 1h | 0.2020 | +0.497% | $23K | — | 150x | as long as short |
| Injective FET/USDC PERPlong | +0.0033% | 1h | 0.2010 | long leg | $3K | $166K | 12x | |
| Aster FETUSDT | +0.0100% | 8h | 0.2020 | +0.498% | $260K | $718K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2024 | +0.697% | $31.3M | $112.7M | 75x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.2022 | +0.597% | $2.7M | $12.4M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2022 | +0.597% | $31.8M | $25.0M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2025 | +0.746% | $10.6M | $19.2M | 50x | as long as short |
Coinbase International FET-PERP-INTX
Kraken Futures PF_FETUSD
gTrade (Gains Network) FET/USD
Aster FETUSDT
Binance FETUSDT
Gate FET_USDT
MEXC FET_USDT
KuCoin FETUSDTMShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni FET | +0.0100% | 8h | 0.2017 | +0.358% | $333K | $420K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2020 | +0.498% | $38K | $7K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2022 | +0.578% | $33K | $247K | 10x | as long as short |
| OKX FET-USDT-SWAP | +0.0156% | 4h | 0.2026 | +0.796% | $991K | $8.1M | 20x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2019 | +0.447% | $13K | — | 100x | as long as short |
| Hyperliquid FET | +0.0207% | 1h | 0.2026 | +0.781% | $9.0M | $8.3M | 5x | as long as short |
| BingX FET-USDT | +0.0326% | 8h | 0.2024 | +0.697% | — | $6.0M | — | as long as short |
| Bitget FETUSDT | +0.0352% | 8h | 0.2026 | +0.796% | $16.3M | $11.8M | 75x | as long as short |
| Phoenix FET | +0.0474% | 1h | 0.2020 | +0.488% | $35K | $43K | 5x | as long as short |
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
OKX FET-USDT-SWAP
GMX FET/USD [ETH-USDC]
Hyperliquid FET
BingX FET-USDT
Bitget FETUSDT
Phoenix FET