Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 116.75 | +0.0048 | pay 0.0006% / 1h | 51m 46s | $363K | $206K | 20x | Long Popdex | |
| SHORT | 115.92 | −0.0220 | pay 0.0028% / 1h | 51m 46s | $16K | $230K | 10x | Short Injective |
Price gap−0.711%46s
Funding gap−0.0268% /8h
Both sides work against this direction now: funding costs $8 a day on $10k and the gap is 1.295% under its 7d average. Swap the legs.
The two prices were read 46 s apart: part of this gap may be the market moving.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$12−0.0268% /8h now · paid −0.116% over the last 5 days (all we have)
Price—spread −0.711%46s now · prices read too far apart to compare
Costsdoesn’t fit$10k a leg is deeper than the books hold
Result, before costs—no pointsneeds both prices read together
The current funding rate is far below what this pair has been paying: over the last 5 days it paid −0.116% in total, about −0.0072%/8h on average.
Funding history
you earnyou payavg
RANGE STATS · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.
Price spread between the two exchanges
Injective price against Popdexnow
RANGE STATS · 7D
Now−0.711%
Average—
Range—
Wider than now—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hINTC on 35 exchanges
lowest funding firstBefore you open
2 ok · 3 to watch- Problem: Doesn’t fit the books—$10k a leg is deeper than Injective’s order book right now.
- Note: Margin at max leverage$500 + $1,000Popdex 20x, Injective 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval1h / 1hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: −$8.04Long Popdex: 24 payments, −$1.44; short Injective: 24 payments, −$6.60.
- Watch: Prices read 46 s apart−0.711% vs +0.584%Part of this gap may be the market moving.
- Watch: Short leg is thinner$16K vs $363K OIInjective sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- OK: No KYC on either legPopdex No · Injective NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0072%/8h × 21 periods−$15.12
Price spreadprices read too far apart to compare—
Slippage, 4 ordersdoesn’t fit the book at $10k—
Fee Popdex bp × 2 orders−$6.40
Fee Injective bp × 2 orders−$0.02
Net · 7 days · $10k—
doesn’t fit the books at $10kprice spread not counted: prices read too far apartCosts to cover—Break-even—
Slippage: Popdex: live order book, 26 min ago; Injective: live order book, 27 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPopdex2.577.2 bp−$712.5 bp−$125doesn’t fitdoesn’t fit
SELL · SHORTInjective25.32doesn’t fitdoesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.
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