Funding you earn now, next payment 21:00 UTC−0.0588%/8h= −64.4% APRpaid last 24h −0.112%
Price spread now: Bybit against Coinbase International−0.090%7-day average −0.170% · you buy dearer than you sell
Net, funding: paid 7d − costs−$91as in the Funding arb table
Net, price: spread back to 7d avg − costs−$71as in the Price arb table
costs, in and out, $10k−$790.785% of the position
Funding, last 7 days−0.120%−$12 on $10k
+Price spread, last 3 days (all we have)−0.003%$0 · spread now −0.090%, 7d avg −0.170%
=The price spread pays, funding is against you. Bybit is 0.080% dearer against Coinbase International than usual: you sell high and buy low (spread −0.090% now, against its 7-day average of −0.170%): +$8 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 7 days (−0.120% in total) that is about 4.7 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.120% in total (about -6.3% 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 | Coinbase International INJ-PERP-INTX | 7.7660 | 0.0688 | pay 0.0086% / 1h | 37m 52s | $384K | $692K | 50x |
| Short | Bybit INJUSDT | 7.7590 | 0.0100 | get 0.0100% / 8h | 2h 37m | $21.5M | $31.8M | 50x |
Coinbase International INJ-PERP-INTX
Bybit INJUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Coinbase International. 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
- −$123.48
- Price spread: −0.090% → −0.170%
- $8.03
- Slippage, 4 orders
- −$57.54
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$194
- Costs to cover
- 0.785%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 50 min ago; Bybit: 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 Coinbase International live order book, 50 min ago | 12.85 bp | 21.3 bp −$21 | 45.0 bp −$450 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 0.65 bp | 17.5 bp −$17 | 48.9 bp −$489 | 148.0 bp −$14.8K | 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 | 7.7451 | −0.270% | — | — | 20x | as long as short |
| dYdX INJ-USD | 0.0000% | 1h | 7.7367 | −0.377% | $89K | $10K | 5x | as long as short |
| Deribit INJ_USDC-PERPETUAL | 0.0000% | 1h | 7.7557 | −0.133% | $7K | $23K | 25x | as long as short |
| gTrade (Gains Network) INJ/USD | L +0.0006% / S −0.0002% | 1h | 7.7520 | −0.180% | $3K | — | 150x | as long as short |
| Variational Omni INJ | +0.0058% | 8h | 7.7285 | −0.482% | $271K | $156K | — | as long as short |
| Kraken Futures PF_INJUSD | +0.0078% | 1h | 7.7551 | −0.140% | $896K | $3.1M | 50x | as long as short |
| Aevo INJ-PERP | +0.0096% | 1h | 7.7456 | −0.262% | $70K | $13K | 3x | as long as short |
| Orderly PERP_INJ_USDC | +0.0097% | 8h | 7.7530 | −0.167% | $38K | $65K | 10x | as long as short |
| Aster INJUSDT | +0.0100% | 8h | 7.7563 | −0.124% | $153K | $441K | 20x | as long as short |
| Binance INJUSDT | +0.0100% | 8h | 7.7654 | −0.008% | $35.4M | $94.7M | 75x | as long as short |
Reya INJRUSDPERP
dYdX INJ-USD
Deribit INJ_USDC-PERPETUAL
gTrade (Gains Network) INJ/USD
Variational Omni INJ
Kraken Futures PF_INJUSD
Aevo INJ-PERP
Orderly PERP_INJ_USDC
Aster INJUSDT
Binance INJUSDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit INJUSDTshort | +0.0100% | 8h | 7.7590 | −0.090% | $21.5M | $31.8M | 50x | |
| OKX INJ-USDT-SWAP | +0.0100% | 8h | 7.7580 | −0.103% | $6.4M | $20.4M | 50x | as long as short |
| Gate INJ_USDT | +0.0100% | 8h | 7.7620 | −0.052% | $2.7M | $5.0M | 50x | as long as short |
| KuCoin INJUSDTM | +0.0100% | 8h | 7.7560 | −0.129% | $9.4M | $16.1M | 50x | as long as short |
| Bitget INJUSDT | +0.0100% | 8h | 7.7640 | −0.026% | $14.2M | $10.9M | 75x | as long as short |
| ApeX Omni INJUSDT | +0.0100% | 1h | 7.7340 | −0.412% | $47K | $347K | 50x | as long as short |
| Extended INJ-USD | +0.0104% | 1h | 7.7580 | −0.103% | $117K | $460K | 10x | as long as short |
| BloFin INJ-USDT | +0.0220% | 8h | 7.7440 | −0.283% | $1.8M | $7.8M | 75x | as long as short |
| BingX INJ-USDT | +0.0271% | 8h | 7.7650 | −0.013% | — | $21.4M | — | as long as short |
| MEXC INJ_USDT | +0.0285% | 8h | 7.7590 | −0.090% | $32.4M | $23.5M | 300x | as long as short |
| GMX INJ/USD [WBTC.b-USDC] | L +0.0390% / S −0.0466% | 1h | 7.7533 | −0.164% | $47K | — | 100x | as long as short |
| Coinbase International INJ-PERP-INTXlong | +0.0688% | 1h | 7.7660 | long leg | $384K | $692K | 50x | |
| Hyperliquid INJ | +0.0771% | 1h | 7.7802 | +0.183% | $26.4M | $9.0M | 5x | as long as short |
| Injective INJ/USDC PERP | +0.1499% | 1h | 7.7650 | −0.013% | $318K | $12.1M | 30x | as long as short |
OKX INJ-USDT-SWAP
Gate INJ_USDT
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
Injective INJ/USDC PERP