Funding you earn now, next payment 22:00 UTC+0.0540%/8h= +59.1% APRpaid last 24h +0.095%
Price spread now: Coinbase International against Binance+0.103%53s7-day average +0.127% · you sell dearer than you buy
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$620.618% of the position
Funding, last 7 days+0.125%+$12 on $10k
+Price spread, last 3 days (all we have)−0.036%−$4 · spread now +0.103%, 7d avg +0.127%
=Funding pays, the price is against you. Coinbase International is 0.024% cheaper against Binance than usual: you would sell low and buy high (spread +0.103% now, against its 7-day average of +0.127%). If the spread goes back, that is −$2 on $10k: about 4 hours of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.125% in total) that is about 32 hours. The two prices were read 53 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 7 days it paid 0.125% in total (about 6.5% a year). A funding rate is set anew for every payment. 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 | Binance INJUSDT | 7.8080 | 0.0100 | pay 0.0100% / 8h | 1h 22m | $35.7M | $94.0M | 75x |
| Short | Coinbase International INJ-PERP-INTX | 7.8160 | 0.0640 | get 0.0080% / 1h | 22m 28s | $382K | $713K | 50x |
Binance INJUSDT
Coinbase International INJ-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Binance. 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
- $113.4
- Price spread: +0.103% → +0.127%
- −$2.37
- Slippage, 4 orders
- −$41.78
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $49.24
- Costs to cover
- 0.618%
- Break-even
- 4.0 days
Slippage from Binance: live order book, 5 min ago; Coinbase International: live order book, 61 min ago.
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 Binance live order book, 5 min ago | 0.64 bp | 9.3 bp −$9 | 19.1 bp −$191 | 141.8 bp −$14.2K | doesn't fit |
| Sell Coinbase International live order book, 61 min ago | 10.93 bp | 24.6 bp −$25 | 48.0 bp −$480 | doesn't fit | doesn't fit |
INJ on 24 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya INJRUSDPERP | −0.0200% | 1h | 7.8020 | −0.076% | — | — | 20x | as long as short |
| Deribit INJ_USDC-PERPETUAL | 0.0000% | 1h | 7.8019 | −0.078% | $7K | $23K | 25x | as long as short |
| gTrade (Gains Network) INJ/USD | L +0.0006% / S −0.0002% | 1h | 7.8051 | −0.037% | $3K | — | 150x | as long as short |
| dYdX INJ-USD | +0.0010% | 1h | 7.8039 | −0.052% | $90K | $8K | 5x | as long as short |
| Aevo INJ-PERP | +0.0096% | 1h | 7.7960 | −0.153% | $70K | $13K | 3x | as long as short |
| Orderly PERP_INJ_USDC | +0.0098% | 8h | 7.8080 | +0.001% | $38K | $63K | 10x | as long as short |
| Kraken Futures PF_INJUSD | +0.0099% | 1h | 7.8026 | −0.068% | $872K | $3.1M | 50x | as long as short |
| Aster INJUSDT | +0.0100% | 8h | 7.8066 | −0.018% | $156K | $440K | 20x | as long as short |
| Binance INJUSDTlong | +0.0100% | 8h | 7.8080 | long leg | $35.7M | $94.0M | 75x | |
| Bybit INJUSDT | +0.0100% | 8h | 7.8012 | −0.087% | $21.7M | $31.6M | 50x | as long as short |
Reya INJRUSDPERP
Deribit INJ_USDC-PERPETUAL
gTrade (Gains Network) INJ/USD
dYdX INJ-USD
Aevo INJ-PERP
Orderly PERP_INJ_USDC
Kraken Futures PF_INJUSD
Aster INJUSDT
Bybit INJUSDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX INJ-USDT-SWAP | +0.0100% | 8h | 7.8020 | −0.076% | $6.4M | $20.1M | 50x | as long as short |
| Gate INJ_USDT | +0.0100% | 8h | 7.8030 | −0.064% | $2.8M | $5.0M | 50x | as long as short |
| KuCoin INJUSDTM | +0.0100% | 8h | 7.8050 | −0.038% | $9.5M | $16.5M | 50x | as long as short |
| Bitget INJUSDT | +0.0100% | 8h | 7.8040 | −0.051% | $14.3M | $10.8M | 75x | as long as short |
| Variational Omni INJ | +0.0100% | 8h | 7.7750 | −0.422% | $272K | $155K | — | as long as short |
| ApeX Omni INJUSDT | +0.0100% | 1h | 7.7830 | −0.320% | $48K | $349K | 50x | as long as short |
| Extended INJ-USD | +0.0104% | 1h | 7.8005 | −0.096% | $118K | $460K | 10x | as long as short |
| BloFin INJ-USDT | +0.0220% | 8h | 7.7930 | −0.192% | $1.8M | $7.7M | 75x | as long as short |
| BingX INJ-USDT | +0.0271% | 8h | 7.8030 | −0.064% | — | $21.4M | — | as long as short |
| MEXC INJ_USDT | +0.0285% | 8h | 7.8080 | +0.001% | $31.7M | $23.0M | 300x | as long as short |
| GMX INJ/USD [WBTC.b-USDC] | L +0.0355% / S −0.0418% | 1h | 7.8052 | −0.035% | $46K | — | 100x | as long as short |
| Coinbase International INJ-PERP-INTXshort | +0.0640% | 1h | 7.8160 | +0.103% | $382K | $713K | 50x | |
| Hyperliquid INJ | +0.0704% | 1h | 7.8164 | +0.108% | $26.5M | $9.5M | 5x | as long as short |
| Injective INJ/USDC PERP | +0.1367% | 1h | 7.8280 | +0.257% | $320K | $12.1M | 30x | as long as short |
OKX INJ-USDT-SWAP
Gate INJ_USDT
KuCoin INJUSDTM
Bitget INJUSDT
Variational Omni INJ
ApeX Omni INJUSDT
Extended INJ-USD
BloFin INJ-USDT
BingX INJ-USDT
MEXC INJ_USDT
GMX INJ/USD [WBTC.b-USDC]
Hyperliquid INJ
Injective INJ/USDC PERP