Funding arb · Price arb /

INJ

all INJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0271%/8h= +29.7% APRpaid last 24h +0.076%

Price spread now: BingX against Deribit−0.050%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BingX is 0.050% cheaper against Deribit than usual: you would sell low and buy high (spread −0.050% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 15 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit INJ_USDC-PERPETUAL	7.8599	0	get 0.0000% / 1h	4m 15s	$6K	$24K	25x
Short	BingX INJ-USDT	7.8560	0.0271	get 0.0271% / 8h	4m 15s	—	$21.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee BingXbpOrdersPrice spread, now −0.050%Rate

Funding earned: $56.91
Price spread: −0.050% → 0.000%: −$4.96
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: $34.95
Costs to cover: 0.170%
Break-even: 2.7 days

Slippage unknown: Deribit: no order-book sample; BingX: live order book, 9 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 Deribit no order-book sample	—	—	—	—	—
Sell BingX live order book, 9 min ago	0.64 bp	6.3 bp −$6	10.0 bp −$100	17.0 bp −$1,700	57.7 bp −$28.9K

Deribit: 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.

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	7.8539	−0.076%	—	—	20x	as long as short
dYdX INJ-USD	0.0000%	1h	7.8526	−0.093%	$91K	$8K	5x	as long as short
Deribit INJ_USDC-PERPETUALlong	0.0000%	1h	7.8599	long leg	$6K	$24K	25x
gTrade (Gains Network) INJ/USD	L +0.0006% / S −0.0002%	1h	7.8576	−0.030%	$3K	—	150x	as long as short
Aevo INJ-PERP	+0.0096%	1h	7.8570	−0.037%	$71K	$13K	3x	as long as short
Bybit INJUSDT	+0.0099%	8h	7.8516	−0.106%	$22.0M	$32.0M	50x	as long as short
Orderly PERP_INJ_USDC	+0.0100%	8h	7.8590	−0.011%	$38K	$66K	10x	as long as short
Aster INJUSDT	+0.0100%	8h	7.8595	−0.006%	$150K	$443K	20x	as long as short
Binance INJUSDT	+0.0100%	8h	7.8577	−0.028%	$35.7M	$94.9M	75x	as long as short
OKX INJ-USDT-SWAP	+0.0100%	8h	7.8520	−0.101%	$6.4M	$20.1M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate INJ_USDT	+0.0100%	8h	7.8540	−0.075%	$2.8M	$5.1M	50x	as long as short
KuCoin INJUSDTM	+0.0100%	8h	7.8610	+0.014%	$9.5M	$16.6M	50x	as long as short
Bitget INJUSDT	+0.0100%	8h	7.8560	−0.050%	$14.5M	$10.5M	75x	as long as short
Variational Omni INJ	+0.0100%	8h	7.8254	−0.438%	$279K	$160K	—	as long as short
ApeX Omni INJUSDT	+0.0100%	1h	7.8360	−0.304%	$48K	$348K	50x	as long as short
Extended INJ-USD	+0.0104%	1h	7.8569	−0.039%	$119K	$460K	10x	as long as short
Kraken Futures PF_INJUSD	+0.0203%	1h	7.8607	+0.010%	$892K	$3.1M	50x	as long as short
BloFin INJ-USDT	+0.0220%	8h	7.8550	−0.062%	$1.8M	$7.7M	75x	as long as short
BingX INJ-USDTshort	+0.0271%	8h	7.8560	−0.050%	—	$21.6M	—
MEXC INJ_USDT	+0.0285%	8h	7.8570	−0.037%	$31.7M	$22.9M	300x	as long as short
GMX INJ/USD [WBTC.b-USDC]	L +0.0356% / S −0.0418%	1h	7.8575	−0.031%	$47K	—	100x	as long as short
Hyperliquid INJ	+0.0571%	1h	7.8684	+0.108%	$26.6M	$9.3M	5x	as long as short
Coinbase International INJ-PERP-INTX	+0.0632%	1h	7.8660	+0.078%	$385K	$717K	50x	as long as short
Injective INJ/USDC PERP	+0.1298%	1h	7.8720	+0.154%	$328K	$12.1M	30x	as long as short