Funding arb · Price arb /

INJ

all INJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0062%/8h= +6.8% APRpaid last 24h −0.009%

Price spread now: Variational Omni against dYdX−0.217%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 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 0.217% cheaper against dYdX than usual: you would sell low and buy high (spread −0.217% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 12 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX INJ-USD	7.8242	0.0038	pay 0.0005% / 1h	14m 40s	$90K	$8K	5x
Short	Variational Omni INJ	7.8073	0.0100	get 0.0100% / 8h	7h 14m	$278K	$155K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against dYdX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.217%Rate

Funding earned: $13.08
Price spread: −0.217% → 0.000%: −$21.67
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$18.59
Costs to cover: 0.100%
Break-even: 17.0 days

Slippage unknown: dYdX: no order-book sample; Variational Omni: RFQ quote, 59 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 Variational Omni RFQ quote, 59 min ago	3.35 bp	doesn't fit	50.6 bp −$506	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	7.8168	−0.095%	—	—	20x	as long as short
Deribit INJ_USDC-PERPETUAL	0.0000%	1h	7.8207	−0.045%	$6K	$24K	25x	as long as short
gTrade (Gains Network) INJ/USD	L +0.0006% / S −0.0002%	1h	7.8198	−0.056%	$3K	—	150x	as long as short
dYdX INJ-USDlong	+0.0038%	1h	7.8242	long leg	$90K	$8K	5x
Aevo INJ-PERP	+0.0096%	1h	7.8168	−0.095%	$71K	—	3x	as long as short
Aster INJUSDT	+0.0100%	8h	7.8250	+0.010%	$150K	$428K	20x	as long as short
Binance INJUSDT	+0.0100%	8h	7.8270	+0.035%	$35.7M	$92.9M	75x	as long as short
Bybit INJUSDT	+0.0100%	8h	7.8266	+0.030%	$21.9M	$31.2M	50x	as long as short
OKX INJ-USDT-SWAP	+0.0100%	8h	7.8240	−0.003%	$6.4M	$19.5M	50x	as long as short
Gate INJ_USDT	+0.0100%	8h	7.8270	+0.035%	$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	7.8300	+0.074%	$9.5M	$16.6M	50x	as long as short
Bitget INJUSDT	+0.0100%	8h	7.8270	+0.035%	$14.4M	$10.1M	75x	as long as short
Variational Omni INJshort	+0.0100%	8h	7.8073	−0.217%	$278K	$155K	—
ApeX Omni INJUSDT	+0.0100%	1h	7.8120	−0.157%	$48K	$313K	50x	as long as short
Orderly PERP_INJ_USDC	+0.0100%	8h	7.8190	−0.067%	$38K	$66K	10x	as long as short
Extended INJ-USD	+0.0104%	1h	7.8273	+0.039%	$116K	$466K	10x	as long as short
Kraken Futures PF_INJUSD	+0.0195%	1h	7.8245	+0.003%	$886K	$3.0M	50x	as long as short
BloFin INJ-USDT	+0.0220%	8h	7.8160	−0.105%	$1.8M	$7.4M	75x	as long as short
BingX INJ-USDT	+0.0271%	8h	7.8290	+0.061%	—	$21.5M	—	as long as short
MEXC INJ_USDT	+0.0285%	8h	7.8280	+0.048%	$31.7M	$22.7M	300x	as long as short
GMX INJ/USD [WBTC.b-USDC]	L +0.0355% / S −0.0418%	1h	7.8162	−0.102%	$46K	—	100x	as long as short
Hyperliquid INJ	+0.0448%	1h	7.8340	+0.125%	$26.4M	$8.9M	5x	as long as short
Coinbase International INJ-PERP-INTX	+0.0632%	1h	7.8260	+0.022%	$385K	$635K	50x	as long as short
Injective INJ/USDC PERP	+0.1436%	1h	7.8420	+0.227%	$327K	$12.1M	30x	as long as short