Funding arb · Price arb /

INJ

all INJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.001%

Price spread now: Bybit against dYdX−0.117%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

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 0.117% cheaper against dYdX than usual: you would sell low and buy high (spread −0.117% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 3.9 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	dYdX INJ-USD	7.5332	0	get 0.0000% / 1h	23m 36s	$78K	$17K	5x
Short	Bybit INJUSDT	7.5244	0.0100	get 0.0100% / 8h	2h 23m	$20.8M	$31.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against dYdX. 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 dYdXbpFee BybitbpOrdersPrice spread, now −0.117%Rate

Funding earned: $21
Price spread: −0.117% → 0.000%: −$11.74
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$11.74
Costs to cover: 0.210%
Break-even: 10.9 days

Slippage unknown: dYdX: 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 dYdX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	0.67 bp	12.2 bp −$12	46.3 bp −$463	155.8 bp −$15.6K	doesn't fit

dYdX: 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
Kraken Futures PF_INJUSD	−0.0214%	1h	7.5437	+0.139%	$777K	$3.5M	50x	as long as short
Reya INJRUSDPERP	−0.0200%	1h	7.5310	−0.029%	—	—	20x	as long as short
dYdX INJ-USDlong	0.0000%	1h	7.5332	long leg	$78K	$17K	5x
gTrade (Gains Network) INJ/USD	L +0.0007% / S −0.0028%	1h	7.5320	−0.017%	$16K	—	150x	as long as short
Aevo INJ-PERP	+0.0096%	1h	7.5362	+0.040%	$68K	—	3x	as long as short
Orderly PERP_INJ_USDC	+0.0100%	8h	7.5400	+0.090%	$34K	$94K	10x	as long as short
Hyperliquid INJ	+0.0100%	1h	7.5352	+0.026%	$25.3M	$8.7M	5x	as long as short
Aster INJUSDT	+0.0100%	8h	7.5277	−0.073%	$137K	$420K	20x	as long as short
Binance INJUSDT	+0.0100%	8h	7.5282	−0.067%	$32.8M	$97.2M	75x	as long as short
Bybit INJUSDTshort	+0.0100%	8h	7.5244	−0.117%	$20.8M	$31.6M	50x

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX INJ-USDT-SWAP	+0.0100%	8h	7.5230	−0.136%	$6.1M	$18.6M	50x	as long as short
Gate INJ_USDT	+0.0100%	8h	7.5280	−0.070%	$2.6M	$5.3M	50x	as long as short
KuCoin INJUSDTM	+0.0100%	8h	7.5300	−0.043%	$8.4M	$18.2M	50x	as long as short
Bitget INJUSDT	+0.0100%	8h	7.5190	−0.189%	$13.8M	$10.3M	75x	as long as short
Variational Omni INJ	+0.0100%	8h	7.5023	−0.411%	$268K	$149K	—	as long as short
ApeX Omni INJUSDT	+0.0100%	1h	7.5040	−0.388%	$45K	$270K	50x	as long as short
Extended INJ-USD	+0.0104%	1h	7.5251	−0.108%	$112K	$562K	10x	as long as short
BloFin INJ-USDT	+0.0220%	8h	7.5220	−0.149%	$1.6M	$5.6M	75x	as long as short
BingX INJ-USDT	+0.0248%	8h	7.5300	−0.043%	—	$20.7M	—	as long as short
MEXC INJ_USDT	+0.0261%	8h	7.5270	−0.083%	$29.8M	$20.1M	300x	as long as short
GMX INJ/USD [WBTC.b-USDC]	L +0.0267% / S −0.0198%	1h	7.5328	−0.006%	$29K	—	100x	as long as short
Deribit INJ_USDC-PERPETUAL	+0.0281%	1h	7.5436	+0.137%	$6K	$24K	25x	as long as short
Coinbase International INJ-PERP-INTX	+0.0480%	1h	7.5370	+0.050%	$369K	$635K	50x	as long as short
Injective INJ/USDC PERP	+0.1029%	1h	7.5560	+0.302%	$315K	$12.1M	30x	as long as short