Funding arb · Price arb /

INJ

all INJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.016%

Price spread now: Bybit against Deribit−0.135%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 Bybit

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. Bybit is 0.135% cheaper against Deribit than usual: you would sell low and buy high (spread −0.135% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 4.5 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit INJ_USDC-PERPETUAL	7.7264	0	get 0.0000% / 1h	43m 21s	$7K	$23K	25x
Short	Bybit INJUSDT	7.7160	0.0100	get 0.0100% / 8h	2h 43m	$21.4M	$31.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.135%Rate

Funding earned: $21
Price spread: −0.135% → 0.000%: −$13.46
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$10.46
Costs to cover: 0.180%
Break-even: 10.5 days

Slippage unknown: Deribit: no order-book sample; Bybit: live order book, 5 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 Bybit live order book, 5 min ago	0.65 bp	16.9 bp −$17	45.6 bp −$456	132.3 bp −$13.2K	doesn't fit

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	7.7142	−0.158%	—	—	20x	as long as short
dYdX INJ-USD	0.0000%	1h	7.7198	−0.086%	$89K	$10K	5x	as long as short
Deribit INJ_USDC-PERPETUALlong	0.0000%	1h	7.7264	long leg	$7K	$23K	25x
gTrade (Gains Network) INJ/USD	L +0.0006% / S −0.0002%	1h	7.7217	−0.061%	$3K	—	150x	as long as short
Variational Omni INJ	+0.0065%	8h	7.6965	−0.386%	$269K	$155K	—	as long as short
Kraken Futures PF_INJUSD	+0.0078%	1h	7.7165	−0.128%	$891K	$3.1M	50x	as long as short
Aevo INJ-PERP	+0.0096%	1h	7.7243	−0.027%	$70K	$13K	3x	as long as short
Orderly PERP_INJ_USDC	+0.0097%	8h	7.7250	−0.018%	$38K	$65K	10x	as long as short
Aster INJUSDT	+0.0100%	8h	7.7240	−0.031%	$152K	$440K	20x	as long as short
Binance INJUSDT	+0.0100%	8h	7.7221	−0.055%	$35.2M	$94.8M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit INJUSDTshort	+0.0100%	8h	7.7160	−0.135%	$21.4M	$31.8M	50x
OKX INJ-USDT-SWAP	+0.0100%	8h	7.7160	−0.135%	$6.3M	$20.3M	50x	as long as short
Gate INJ_USDT	+0.0100%	8h	7.7170	−0.122%	$2.7M	$5.0M	50x	as long as short
KuCoin INJUSDTM	+0.0100%	8h	7.7210	−0.070%	$9.4M	$16.1M	50x	as long as short
Bitget INJUSDT	+0.0100%	8h	7.7220	−0.057%	$14.1M	$10.9M	75x	as long as short
ApeX Omni INJUSDT	+0.0100%	1h	7.7150	−0.148%	$47K	$347K	50x	as long as short
Extended INJ-USD	+0.0104%	1h	7.7179	−0.109%	$117K	$460K	10x	as long as short
BloFin INJ-USDT	+0.0220%	8h	7.7050	−0.277%	$1.8M	$7.7M	75x	as long as short
BingX INJ-USDT	+0.0271%	8h	7.7180	−0.109%	—	$21.4M	—	as long as short
MEXC INJ_USDT	+0.0285%	8h	7.7200	−0.083%	$32.1M	$23.4M	300x	as long as short
GMX INJ/USD [WBTC.b-USDC]	L +0.0389% / S −0.0466%	1h	7.7222	−0.055%	$47K	—	100x	as long as short
Coinbase International INJ-PERP-INTX	+0.0688%	1h	7.7240	−0.031%	$382K	$689K	50x	as long as short
Hyperliquid INJ	+0.0735%	1h	7.7351	+0.113%	$26.2M	$9.0M	5x	as long as short
Injective INJ/USDC PERP	+0.1499%	1h	7.7470	+0.267%	$317K	$12.1M	30x	as long as short