Funding you earn now, next payment 22:00 UTC−0.5064%/8h= −554.5% APRpaid last 24h −1.436%
Price spread now: Injective against Bybit−1.166%68s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$152 a day on $10k at the current rate, and Injective is 1.166% cheaper against Bybit than usual: you would sell low and buy high (−$117 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 68 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 | Bybit USUALUSDT | 0.01355 | 0.0100 | pay 0.0050% / 4h | 2h 48m | $997K | $968K | 25x |
| Short | Injective USUAL/USDC PERP | 0.01339 | −0.4964 | pay 0.0621% / 1h | 48m 13s | $6K | $2K | 5.5x |
Bybit USUALUSDT
Injective USUAL/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$1,063.48
- Price spread: −1.166% → 0.000%
- −$116.62
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$1,191.12
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 27 min ago; Injective: 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 Bybit live order book, 27 min ago | 4.43 bp | 33.9 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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.
USUAL on 11 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective USUAL/USDC PERPshort | −0.4964% | 1h | 0.01339 | −1.166% | $6K | $2K | 5.5x | |
| Kraken Futures PF_USUALUSD | −0.0745% | 1h | 0.01354 | −0.066% | $110K | $25K | 10x | as long as short |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01356 | +0.089% | $386K | $240K | 3x | as long as short |
| Binance USUALUSDT | +0.0100% | 4h | 0.01353 | −0.102% | $2.1M | $3.5M | 50x | as long as short |
| Bybit USUALUSDTlong | +0.0100% | 4h | 0.01355 | long leg | $997K | $968K | 25x | |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01354 | −0.059% | $904K | $250K | 50x | as long as short |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01354 | −0.089% | $5.9M | $266K | 100x | as long as short |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01356 | +0.089% | $280K | $66K | 20x | as long as short |
| Bitget USUALUSDT | +0.0100% | 4h | 0.01355 | +0.015% | $820K | $510K | 50x | as long as short |
| BingX USUAL-USDT | +0.0100% | 4h | 0.01355 | −0.007% | — | $1.2M | — | as long as short |
Kraken Futures PF_USUALUSD
Hyperliquid USUAL
Binance USUALUSDT
Gate USUAL_USDT
MEXC USUAL_USDT
KuCoin USUALUSDTM
Bitget USUALUSDT
BingX USUAL-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni USUAL | +0.0100% | 4h | 0.01354 | −0.073% | $9K | $100 | — | as long as short |
Variational Omni USUAL