Funding you earn now, next payment 05:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.010%
Price spread now: Bybit against Injective+0.896%108s7-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. Bybit is 0.896% dearer against Injective than usual: you sell high and buy low (spread +0.896% now, against zero (this spread has no 7-day history yet)): +$90 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3 months. The two prices were read 108 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 PDD/USDC PERP | 79.270 | 0.0033 | pay 0.0004% / 1h | 57m 32s | $11K | $8K | 12x |
| Short | Bybit PDDUSDT | 79.980 | 0 | get 0.0000% / 8h | 3h 57m | $258K | $2.0M | 25x |
Injective PDD/USDC PERP
Bybit PDDUSDTFunding 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
- −$7
- Price spread: +0.896% → 0.000%
- $89.57
- 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
- $71.55
- Costs to cover
- 0.110%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Bybit: live order book, 4 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, 4 min ago | 11.23 bp | 48.2 bp −$48 | 193.4 bp −$1,934 | 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.
PDD on 9 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit PDDUSDTshort | 0.0000% | 8h | 79.980 | +0.896% | $258K | $2.0M | 25x | |
| Bitget PDDUSDT | 0.0000% | 8h | 80.020 | +0.946% | $1.3M | $198K | 20x | as long as short |
| Injective PDD/USDC PERPlong | +0.0033% | 1h | 79.270 | long leg | $11K | $8K | 12x | |
| Extended PDD_24_5-USD | +0.0040% | 1h | 79.855 | +0.738% | $3K | — | 5x | as long as short |
| KuCoin PDDUSDTM | +0.0100% | 8h | 80.040 | +0.971% | $31K | $2.8M | 20x | as long as short |
| HTX PDD-USDT | +0.0100% | 8h | 79.410 | +0.177% | $7K | $305K | 20x | as long as short |
| Gate PDD_USDT | +0.0286% | 8h | 79.990 | +0.908% | $488K | $37K | 20x | as long as short |
| Binance PDDUSDT | +0.0530% | 8h | 80.160 | +1.123% | $1.4M | $978K | 20x | as long as short |
| edgeX PDDUSDC | +0.0996% | 4h | 80.196 | +1.168% | $162K | $223K | 10x | as long as short |
Bitget PDDUSDT
Extended PDD_24_5-USD
KuCoin PDDUSDTM
HTX PDD-USDT
Gate PDD_USDT
Binance PDDUSDT
edgeX PDDUSDC