Funding arb · Price arb /

INJ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.024%

Price spread now: Orderly against dYdX−0.132%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 Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.167%+$17 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. Orderly is 0.132% cheaper against dYdX than usual: you would sell low and buy high (spread −0.132% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 4.6 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	7.8133	0	get 0.0000% / 1h	26m 26s	$90K	$10K	5x
Short	Orderly PERP_INJ_USDC	7.8030	0.0097	get 0.0097% / 8h	2h 26m	$38K	$65K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.132%Rate

Funding earned: $20.35
Price spread: −0.132% → 0.000%: −$13.24
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$8.89
Costs to cover: 0.160%
Break-even: 10.1 days

Slippage unknown: dYdX: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

dYdX and Orderly: 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	7.8170	+0.046%	—	—	20x	as long as short
dYdX INJ-USDlong	0.0000%	1h	7.8133	long leg	$90K	$10K	5x
Deribit INJ_USDC-PERPETUAL	0.0000%	1h	7.8040	−0.120%	$7K	$23K	25x	as long as short
gTrade (Gains Network) INJ/USD	L +0.0006% / S −0.0002%	1h	7.7972	−0.206%	$3K	—	150x	as long as short
Variational Omni INJ	+0.0051%	8h	7.7672	−0.591%	$272K	$156K	—	as long as short
Kraken Futures PF_INJUSD	+0.0078%	1h	7.8051	−0.105%	$888K	$3.2M	50x	as long as short
Aevo INJ-PERP	+0.0096%	1h	7.8010	−0.158%	$70K	$13K	3x	as long as short
Orderly PERP_INJ_USDCshort	+0.0097%	8h	7.8030	−0.132%	$38K	$65K	10x
Aster INJUSDT	+0.0100%	8h	7.8188	+0.070%	$154K	$444K	20x	as long as short
Binance INJUSDT	+0.0100%	8h	7.8180	+0.060%	$35.7M	$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 INJUSDT	+0.0100%	8h	7.8110	−0.030%	$21.7M	$31.9M	50x	as long as short
OKX INJ-USDT-SWAP	+0.0100%	8h	7.8100	−0.043%	$6.4M	$20.5M	50x	as long as short
Gate INJ_USDT	+0.0100%	8h	7.8110	−0.030%	$2.8M	$5.1M	50x	as long as short
KuCoin INJUSDTM	+0.0100%	8h	7.8190	+0.072%	$9.5M	$16.2M	50x	as long as short
Bitget INJUSDT	+0.0100%	8h	7.8200	+0.085%	$14.3M	$10.9M	75x	as long as short
ApeX Omni INJUSDT	+0.0100%	1h	7.7650	−0.619%	$47K	$347K	50x	as long as short
Extended INJ-USD	+0.0104%	1h	7.8162	+0.036%	$119K	$460K	10x	as long as short
BloFin INJ-USDT	+0.0220%	8h	7.7990	−0.184%	$1.8M	$7.8M	75x	as long as short
BingX INJ-USDT	+0.0271%	8h	7.8130	−0.004%	—	$21.3M	—	as long as short
MEXC INJ_USDT	+0.0285%	8h	7.8220	+0.111%	$32.1M	$23.6M	300x	as long as short
GMX INJ/USD [WBTC.b-USDC]	L +0.0354% / S −0.0391%	1h	7.7991	−0.182%	$47K	—	100x	as long as short
Coinbase International INJ-PERP-INTX	+0.0688%	1h	7.8170	+0.047%	$389K	$703K	50x	as long as short
Hyperliquid INJ	+0.0790%	1h	7.8364	+0.295%	$26.5M	$9.1M	5x	as long as short
Injective INJ/USDC PERP	+0.1499%	1h	7.8210	+0.098%	$320K	$12.1M	30x	as long as short