Funding arb · Price arb /

INJ

all INJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0253%/8h= +27.7% APRpaid last 24h +0.071%

Price spread now: MEXC against dYdX−0.181%47s7-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 MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.392%+$39 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. MEXC is 0.181% cheaper against dYdX than usual: you would sell low and buy high (spread −0.181% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 2.4 days of funding at the current rate (+$8 a day). The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX INJ-USD	7.8332	0.0032	pay 0.0004% / 1h	5m 53s	$90K	$8K	5x
Short	MEXC INJ_USDT	7.8190	0.0285	get 0.0285% / 8h	7h 05m	$31.7M	$22.7M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.181%Rate

Funding earned: $53.13
Price spread: −0.181% → 0.000%: −$18.09
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $25.04
Costs to cover: 0.100%
Break-even: 3.7 days

Slippage unknown: dYdX: no order-book sample; MEXC: live order book, 3 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 MEXC live order book, 3 min ago	0.64 bp	4.4 bp −$4	10.2 bp −$102	60.5 bp −$6,052	123.3 bp −$61.7K

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
Reya INJRUSDPERP	−0.0200%	1h	7.8096	−0.301%	—	—	20x	as long as short
Deribit INJ_USDC-PERPETUAL	0.0000%	1h	7.8112	−0.280%	$6K	$24K	25x	as long as short
gTrade (Gains Network) INJ/USD	L +0.0006% / S −0.0002%	1h	7.8153	−0.228%	$3K	—	150x	as long as short
dYdX INJ-USDlong	+0.0032%	1h	7.8332	long leg	$90K	$8K	5x
Aevo INJ-PERP	+0.0096%	1h	7.8096	−0.301%	$71K	—	3x	as long as short
Aster INJUSDT	+0.0100%	8h	7.8189	−0.182%	$149K	$428K	20x	as long as short
Binance INJUSDT	+0.0100%	8h	7.8199	−0.170%	$35.7M	$92.8M	75x	as long as short
Bybit INJUSDT	+0.0100%	8h	7.8176	−0.199%	$22.0M	$31.2M	50x	as long as short
OKX INJ-USDT-SWAP	+0.0100%	8h	7.8160	−0.219%	$6.4M	$19.2M	50x	as long as short
Gate INJ_USDT	+0.0100%	8h	7.8150	−0.232%	$2.8M	$5.0M	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	7.8150	−0.232%	$9.5M	$16.6M	50x	as long as short
Bitget INJUSDT	+0.0100%	8h	7.8170	−0.206%	$14.4M	$10.1M	75x	as long as short
Variational Omni INJ	+0.0100%	8h	7.8131	−0.257%	$278K	$154K	—	as long as short
ApeX Omni INJUSDT	+0.0100%	1h	7.8390	+0.074%	$48K	$311K	50x	as long as short
Orderly PERP_INJ_USDC	+0.0100%	8h	7.8140	−0.245%	$38K	$66K	10x	as long as short
Extended INJ-USD	+0.0104%	1h	7.8150	−0.232%	$116K	$469K	10x	as long as short
Kraken Futures PF_INJUSD	+0.0195%	1h	7.8163	−0.215%	$885K	$3.0M	50x	as long as short
BloFin INJ-USDT	+0.0220%	8h	7.8500	+0.215%	$1.8M	$7.1M	75x	as long as short
BingX INJ-USDT	+0.0271%	8h	7.8160	−0.219%	—	$21.4M	—	as long as short
MEXC INJ_USDTshort	+0.0285%	8h	7.8190	−0.181%	$31.7M	$22.7M	300x
GMX INJ/USD [WBTC.b-USDC]	L +0.0355% / S −0.0418%	1h	7.8139	−0.246%	$46K	—	100x	as long as short
Hyperliquid INJ	+0.0423%	1h	7.8285	−0.060%	$26.4M	$8.9M	5x	as long as short
Coinbase International INJ-PERP-INTX	+0.0632%	1h	7.8610	+0.355%	$385K	$638K	50x	as long as short
Injective INJ/USDC PERP	+0.1436%	1h	7.8420	+0.113%	$327K	$12.1M	30x	as long as short