Funding arb · Price arb /

INJ

all INJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.004%

Price spread now: Variational Omni against Deribit−0.067%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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.067% cheaper against Deribit than usual: you would sell low and buy high (spread −0.067% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.4 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	7.8125	0.0006	pay 0.0001% / 1h	16m 10s	$6K	$24K	25x
Short	Variational Omni INJ	7.8073	0.0100	get 0.0100% / 8h	7h 16m	$278K	$155K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.067%Rate

Funding earned: $19.74
Price spread: −0.067% → 0.000%: −$6.67
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $6.07
Costs to cover: 0.070%
Break-even: 4.8 days

Slippage unknown: Deribit: no order-book sample; Variational Omni: RFQ quote, 58 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 Variational Omni RFQ quote, 58 min ago	3.35 bp	doesn't fit	50.6 bp −$506	doesn't fit	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	7.8096	−0.038%	—	—	20x	as long as short
gTrade (Gains Network) INJ/USD	L +0.0006% / S −0.0002%	1h	7.8094	−0.039%	$3K	—	150x	as long as short
Deribit INJ_USDC-PERPETUALlong	+0.0006%	1h	7.8125	long leg	$6K	$24K	25x
dYdX INJ-USD	+0.0019%	1h	7.7973	−0.195%	$90K	$8K	5x	as long as short
Aevo INJ-PERP	+0.0096%	1h	7.8026	−0.127%	$71K	—	3x	as long as short
Aster INJUSDT	+0.0100%	8h	7.8049	−0.098%	$149K	$428K	20x	as long as short
Binance INJUSDT	+0.0100%	8h	7.8160	+0.045%	$35.6M	$92.9M	75x	as long as short
Bybit INJUSDT	+0.0100%	8h	7.8116	−0.012%	$21.9M	$31.3M	50x	as long as short
OKX INJ-USDT-SWAP	+0.0100%	8h	7.8150	+0.032%	$6.4M	$19.5M	50x	as long as short
Gate INJ_USDT	+0.0100%	8h	7.8070	−0.070%	$2.8M	$4.9M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin INJUSDTM	+0.0100%	8h	7.8120	−0.006%	$9.5M	$16.6M	50x	as long as short
Bitget INJUSDT	+0.0100%	8h	7.8140	+0.019%	$14.4M	$10.1M	75x	as long as short
Variational Omni INJshort	+0.0100%	8h	7.8073	−0.067%	$278K	$155K	—
ApeX Omni INJUSDT	+0.0100%	1h	7.8120	−0.006%	$48K	$313K	50x	as long as short
Orderly PERP_INJ_USDC	+0.0100%	8h	7.8100	−0.032%	$38K	$66K	10x	as long as short
Extended INJ-USD	+0.0104%	1h	7.8105	−0.026%	$116K	$466K	10x	as long as short
Kraken Futures PF_INJUSD	+0.0195%	1h	7.8207	+0.105%	$885K	$3.0M	50x	as long as short
BloFin INJ-USDT	+0.0220%	8h	7.8120	−0.006%	$1.8M	$7.5M	75x	as long as short
BingX INJ-USDT	+0.0271%	8h	7.8060	−0.083%	—	$21.4M	—	as long as short
MEXC INJ_USDT	+0.0285%	8h	7.8150	+0.032%	$31.7M	$22.7M	300x	as long as short
GMX INJ/USD [WBTC.b-USDC]	L +0.0355% / S −0.0418%	1h	7.8091	−0.044%	$46K	—	100x	as long as short
Hyperliquid INJ	+0.0449%	1h	7.8205	+0.102%	$26.4M	$8.9M	5x	as long as short
Coinbase International INJ-PERP-INTX	+0.0632%	1h	7.8240	+0.147%	$385K	$635K	50x	as long as short
Injective INJ/USDC PERP	+0.1436%	1h	7.8430	+0.390%	$327K	$12.1M	30x	as long as short