Funding you earn now, next payment 22:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.036%
Price spread now: Injective against Bybit+3.404%7-day average — · you sell dearer than you buy
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
The price spread pays, funding is against you. Injective is 3.404% dearer against Bybit than usual: you sell high and buy low (spread +3.404% now, against zero (this spread has no 7-day history yet)): +$340 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6 months.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit WUSDT | 0.01169 | 0.0100 | pay 0.0050% / 4h | 2h 38m | $4.1M | $2.1M | 50x |
| Short | Injective W/USDC PERP | 0.01209 | 0.0033 | get 0.0004% / 1h | 38m 43s | $1K | $1K | 12x |
Bybit WUSDT
Injective W/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
- −$14
- Price spread: +3.404% → 0.000%
- $340.4
- 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
- $315.38
- Costs to cover
- 0.110%
- Break-even
- from the start
Slippage unknown: Bybit: live order book, 4 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, 4 min ago | 1.71 bp | 30.4 bp −$30 | 186.5 bp −$1,865 | 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.
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit W_USDC-PERPETUAL | −0.1026% | 1h | 0.01174 | +0.411% | $17K | $1K | 10x | as long as short |
| OKX W-USDT-SWAP | +0.0003% | 4h | 0.01170 | +0.094% | $1.3M | $2.2M | 20x | as long as short |
| Injective W/USDC PERPshort | +0.0033% | 1h | 0.01209 | +3.404% | $1K | $1K | 12x | |
| Hyperliquid W | +0.0100% | 1h | 0.01170 | +0.068% | $2.0M | $460K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01171 | +0.128% | $2.9M | $7.7M | 50x | as long as short |
| Bybit WUSDTlong | +0.0100% | 4h | 0.01169 | long leg | $4.1M | $2.1M | 50x | |
| Gate W_USDT | +0.0100% | 4h | 0.01170 | +0.068% | $443K | $301K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01170 | +0.043% | $12.8M | $1.7M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01170 | +0.068% | $420K | $219K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01170 | +0.068% | $1.3M | $560K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
OKX W-USDT-SWAP
Hyperliquid W
Binance WUSDT
Gate W_USDT
MEXC W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDT | +0.0100% | 4h | 0.01172 | +0.257% | — | $6.9M | — | as long as short |
| Backpack W_USDC_PERP | +0.0100% | 1h | 0.01175 | +0.496% | $44K | $47K | 15x | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01172 | +0.206% | $71K | $42K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01173 | +0.326% | $123K | $409K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01173 | +0.325% | $59K | $276K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0296% | 1h | 0.01179 | +0.804% | $14K | $18K | 50x | as long as short |
| Kraken Futures PF_WUSD | +0.0619% | 1h | 0.01176 | +0.574% | $146K | $185K | 20x | as long as short |
BingX W-USDT
Backpack W_USDC_PERP
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Kraken Futures PF_WUSD