Funding arb · Price arb /

INJ

all INJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h 0.000%

Price spread now: OKX against dYdX−0.263%50s7-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 OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.096%+$10 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. OKX is 0.263% cheaper against dYdX than usual: you would sell low and buy high (spread −0.263% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$26 on $10k: about 10.0 days of funding at the current rate (+$3 a day). The two prices were read 50 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	7.8055	0.0012	pay 0.0002% / 1h	27m 54s	$90K	$7K	5x
Short	OKX INJ-USDT-SWAP	7.7850	0.0100	get 0.0100% / 8h	1h 27m	$6.4M	$20.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.263%Rate

Funding earned: $18.42
Price spread: −0.263% → 0.000%: −$26.25
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$27.84
Costs to cover: 0.200%
Break-even: 17.6 days

Slippage unknown: dYdX: no order-book sample; OKX: live order book, 1 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 OKX live order book, 1 min ago	1.28 bp	17.3 bp −$17	30.1 bp −$301	doesn't fit	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
Reya INJRUSDPERP	−0.0200%	1h	7.7935	−0.153%	—	—	20x	as long as short
Deribit INJ_USDC-PERPETUAL	0.0000%	1h	7.7916	−0.178%	$7K	$23K	25x	as long as short
gTrade (Gains Network) INJ/USD	L +0.0006% / S −0.0002%	1h	7.7940	−0.147%	$3K	—	150x	as long as short
dYdX INJ-USDlong	+0.0012%	1h	7.8055	long leg	$90K	$7K	5x
Aevo INJ-PERP	+0.0096%	1h	7.7850	−0.263%	$70K	$13K	3x	as long as short
Orderly PERP_INJ_USDC	+0.0098%	8h	7.7940	−0.147%	$38K	$63K	10x	as long as short
Kraken Futures PF_INJUSD	+0.0099%	1h	7.7872	−0.235%	$871K	$3.1M	50x	as long as short
Aster INJUSDT	+0.0100%	8h	7.7900	−0.198%	$156K	$440K	20x	as long as short
Binance INJUSDT	+0.0100%	8h	7.7870	−0.237%	$35.7M	$94.3M	75x	as long as short
Bybit INJUSDT	+0.0100%	8h	7.7830	−0.288%	$21.6M	$31.7M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX INJ-USDT-SWAPshort	+0.0100%	8h	7.7850	−0.263%	$6.4M	$20.0M	50x
Gate INJ_USDT	+0.0100%	8h	7.7840	−0.275%	$2.8M	$5.0M	50x	as long as short
KuCoin INJUSDTM	+0.0100%	8h	7.7840	−0.275%	$9.5M	$16.5M	50x	as long as short
Bitget INJUSDT	+0.0100%	8h	7.7820	−0.301%	$14.3M	$10.9M	75x	as long as short
Variational Omni INJ	+0.0100%	8h	7.7825	−0.294%	$272K	$157K	—	as long as short
ApeX Omni INJUSDT	+0.0100%	1h	7.7920	−0.173%	$48K	$348K	50x	as long as short
Extended INJ-USD	+0.0104%	1h	7.7822	−0.298%	$118K	$460K	10x	as long as short
BloFin INJ-USDT	+0.0220%	8h	7.8050	−0.006%	$1.8M	$7.7M	75x	as long as short
BingX INJ-USDT	+0.0271%	8h	7.7850	−0.263%	—	$21.4M	—	as long as short
MEXC INJ_USDT	+0.0285%	8h	7.7820	−0.301%	$31.6M	$23.0M	300x	as long as short
GMX INJ/USD [WBTC.b-USDC]	L +0.0355% / S −0.0418%	1h	7.7922	−0.171%	$46K	—	100x	as long as short
Coinbase International INJ-PERP-INTX	+0.0640%	1h	7.8080	+0.032%	$382K	$712K	50x	as long as short
Hyperliquid INJ	+0.0738%	1h	7.7930	−0.160%	$26.5M	$9.6M	5x	as long as short
Injective INJ/USDC PERP	+0.1367%	1h	7.8140	+0.109%	$320K	$12.1M	30x	as long as short