Funding you earn now, next payment 06:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.066%
Price spread now: Bybit against Injective−1.084%88s7-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 −$7 a day on $10k at the current rate, and Bybit is 1.084% cheaper against Injective than usual: you would sell low and buy high (−$108 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 88 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 | Injective PANW/USDC PERP | 379.00 | 0.0220 | pay 0.0028% / 1h | 16m 01s | $6K | $38K | 12x |
| Short | Bybit PANWUSDT | 374.89 | 0 | get 0.0000% / 8h | 2h 16m | $327K | $324K | 25x |
Injective PANW/USDC PERP
Bybit PANWUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Injective. 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
- −$46.2
- Price spread: −1.084% → 0.000%
- −$108.44
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$165.66
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Bybit: live order book, 23 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 Injective no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 23 min ago | 7.64 bp | 55.8 bp −$56 | 176.6 bp −$1,766 | doesn't fit | doesn't fit |
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.
PANW on 8 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 | |
|---|---|---|---|---|---|---|---|---|
| Binance PANWUSDT | 0.0000% | 8h | 375.33 | −0.968% | $514K | $781K | 25x | as long as short |
| Bybit PANWUSDTshort | 0.0000% | 8h | 374.89 | −1.084% | $327K | $324K | 25x | |
| QFEX PANW-USD | 0.0000% | 1h | 375.12 | −1.024% | $1.1M | $2.6M | 10x | as long as short |
| Gate PANW_USDT | 0.0000% | 8h | 373.27 | −1.512% | $67K | $5K | 20x | as long as short |
| Bitget PANWUSDT | 0.0000% | 8h | 375.00 | −1.055% | $174K | $380K | 20x | as long as short |
| SunX PANW-USDT | +0.0100% | 8h | 374.97 | −1.063% | $1K | $631K | 10x | as long as short |
| HTX PANW-USDT | +0.0100% | 8h | 374.31 | −1.237% | $2K | $39K | 10x | as long as short |
| Injective PANW/USDC PERPlong | +0.0220% | 1h | 379.00 | long leg | $6K | $38K | 12x |
Binance PANWUSDT
QFEX PANW-USD
Gate PANW_USDT
Bitget PANWUSDT
SunX PANW-USDT
HTX PANW-USDT