Funding you earn now, next payment 01:00 UTC+0.0470%/8h= +51.5% APRpaid last 24h +0.039%
Price spread now: Kraken Futures against Bybit+0.049%7-day average +0.108% · you sell dearer than you buy
Net, funding: paid 7d − costs−$44as in the Funding arb table
Net, price: spread back to 7d avg − costs−$81as in the Price arb table
costs, in and out, $10k−$750.751% of the position
Funding, last 7 days+0.315%+$32 on $10k
+Price spread, last 3 days (all we have)+0.054%+$5 · spread now +0.049%, 7d avg +0.108%
=Funding pays, the price is against you. Kraken Futures is 0.059% cheaper against Bybit than usual: you would sell low and buy high (spread +0.049% now, against its 7-day average of +0.108%). If the spread goes back, that is −$6 on $10k: about 10 hours of funding at the current rate (+$14 a day). At the pace of the last 7 days (+0.315% in total) that is about 32 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.315% in total (about 16.4% 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 | Bybit INJUSDT | 7.8460 | −0.0276 | get 0.0276% / 8h | 7h 37m | $22.0M | $31.5M | 50x |
| Short | Kraken Futures PF_INJUSD | 7.8498 | 0.0194 | get 0.0024% / 1h | 37m 43s | $887K | $3.0M | 50x |
Bybit INJUSDT
Kraken Futures PF_INJUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bybit. 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
- $98.73
- Price spread: +0.049% → +0.108%
- −$5.93
- Slippage, 4 orders
- −$54.06
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $17.75
- Costs to cover
- 0.751%
- Break-even
- 5.7 days
Slippage from Bybit: live order book, 1 min ago; Kraken Futures: live order book, 1 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 Bybit live order book, 1 min ago | 0.64 bp | 23.8 bp −$24 | 48.8 bp −$488 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 1 min ago | 5.73 bp | 14.7 bp −$15 | 24.4 bp −$244 | 460.5 bp −$46.0K | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit INJUSDTlong | −0.0276% | 8h | 7.8460 | long leg | $22.0M | $31.5M | 50x | |
| Reya INJRUSDPERP | −0.0200% | 1h | 7.8451 | −0.012% | — | — | 20x | as long as short |
| dYdX INJ-USD | 0.0000% | 1h | 7.8452 | −0.010% | $91K | $8K | 5x | as long as short |
| Deribit INJ_USDC-PERPETUAL | 0.0000% | 1h | 7.8502 | +0.054% | $6K | $24K | 25x | as long as short |
| gTrade (Gains Network) INJ/USD | L +0.0006% / S −0.0002% | 1h | 7.8485 | +0.032% | $3K | — | 150x | as long as short |
| Gate INJ_USDT | +0.0082% | 8h | 7.8470 | +0.013% | $2.8M | $4.9M | 50x | as long as short |
| Variational Omni INJ | +0.0084% | 8h | 7.8543 | +0.106% | $280K | $160K | — | as long as short |
| Aevo INJ-PERP | +0.0096% | 1h | 7.8459 | −0.001% | $71K | — | 3x | as long as short |
| Orderly PERP_INJ_USDC | +0.0100% | 8h | 7.8480 | +0.025% | $38K | $66K | 10x | as long as short |
| Aster INJUSDT | +0.0100% | 8h | 7.8480 | +0.025% | $150K | $443K | 20x | as long as short |
Reya INJRUSDPERP
dYdX INJ-USD
Deribit INJ_USDC-PERPETUAL
gTrade (Gains Network) INJ/USD
Gate INJ_USDT
Variational Omni INJ
Aevo INJ-PERP
Orderly PERP_INJ_USDC
Aster INJUSDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance INJUSDT | +0.0100% | 8h | 7.8510 | +0.064% | $35.7M | $93.6M | 75x | as long as short |
| OKX INJ-USDT-SWAP | +0.0100% | 8h | 7.8480 | +0.025% | $6.4M | $19.8M | 50x | as long as short |
| KuCoin INJUSDTM | +0.0100% | 8h | 7.8460 | 0.000% | $9.5M | $16.6M | 50x | as long as short |
| Bitget INJUSDT | +0.0100% | 8h | 7.8510 | +0.064% | $14.5M | $10.3M | 75x | as long as short |
| ApeX Omni INJUSDT | +0.0100% | 1h | 7.8610 | +0.191% | $48K | $349K | 50x | as long as short |
| Extended INJ-USD | +0.0104% | 1h | 7.8491 | +0.040% | $117K | $652K | 10x | as long as short |
| Kraken Futures PF_INJUSDshort | +0.0194% | 1h | 7.8498 | +0.049% | $887K | $3.0M | 50x | |
| BloFin INJ-USDT | +0.0220% | 8h | 7.8550 | +0.115% | $1.8M | $7.7M | 75x | as long as short |
| BingX INJ-USDT | +0.0271% | 8h | 7.8480 | +0.025% | — | $21.4M | — | as long as short |
| MEXC INJ_USDT | +0.0285% | 8h | 7.8510 | +0.064% | $31.7M | $22.6M | 300x | as long as short |
| GMX INJ/USD [WBTC.b-USDC] | L +0.0356% / S −0.0418% | 1h | 7.8464 | +0.006% | $47K | — | 100x | as long as short |
| Hyperliquid INJ | +0.0570% | 1h | 7.8592 | +0.168% | $26.5M | $9.1M | 5x | as long as short |
| Coinbase International INJ-PERP-INTX | +0.0632% | 1h | 7.8820 | +0.459% | $386K | $659K | 50x | as long as short |
| Injective INJ/USDC PERP | +0.1436% | 1h | 7.8900 | +0.561% | $329K | $12.1M | 30x | as long as short |
Binance INJUSDT
OKX INJ-USDT-SWAP
KuCoin INJUSDTM
Bitget INJUSDT
ApeX Omni INJUSDT
Extended INJ-USD
BloFin INJ-USDT
BingX INJ-USDT
MEXC INJ_USDT
GMX INJ/USD [WBTC.b-USDC]
Hyperliquid INJ
Coinbase International INJ-PERP-INTX
Injective INJ/USDC PERP