Funding you earn now, next payment 01:00 UTC−0.2194%/8h= −240.3% APRnext payment −$2.74 per $10,000 · paid last 24h −0.447%
Price spread now: Deribit against Injective+2.935%63s7-day average +0.610% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 6 days (all we have)−0.674%−$67 on $10k
+Price spread, last 3 days (all we have)−2.124%−$212 · spread now +2.935%, 7d avg +0.610%
=The price spread pays, funding is against you. Deribit is 2.326% dearer against Injective than usual: you sell high and buy low (spread +2.935% now, against its 7-day average of +0.610%): +$233 on $10k if it goes back. Holding the pair costs −$66 a day in funding at the current rate, which eats that in about 3.5 days. At the pace of the last 6 days (−0.674% in total) that is about 20 days. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 6 days it paid -0.674% in total (about -43.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.74 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective FET/USDC PERP | 0.2010 | 0.0033 | pay 0.0004% / 1h | 33m 37s | $3K | $166K | 12x |
| Short | Deribit FET_USDC-PERPETUAL | 0.2069 | −0.2161 | pay 0.0270% / 1h | 33m 37s | $40K | $213K | 10x |
Injective FET/USDC PERP
Deribit FET_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$460.77
- Price spread: +2.935% → +0.610%
- $232.57
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$235.22
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Deribit: live order book, 40 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 Deribit live order book, 40 min ago | 4.90 bp | 8.4 bp −$8 | doesn't fit | 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.
FET on 20 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 FET_USDC-PERPETUALshort | −0.2161% | 1h | 0.2069 | +2.935% | $40K | $213K | 10x | |
| Kraken Futures PF_FETUSD | −0.1251% | 1h | 0.2069 | +2.933% | $1.0M | $2.2M | 50x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0704% | 1h | 0.2069 | +2.935% | $154K | $210K | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0013% | 1h | 0.2068 | +2.867% | $32K | — | 150x | as long as short |
| Injective FET/USDC PERPlong | +0.0033% | 1h | 0.2010 | long leg | $3K | $166K | 12x | |
| Aster FETUSDT | +0.0100% | 8h | 0.2068 | +2.888% | $344K | $542K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2069 | +2.942% | $32.3M | $110.2M | 75x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.2067 | +2.836% | $2.8M | $12.1M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2068 | +2.886% | $35.0M | $24.9M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2070 | +2.985% | $10.9M | $19.2M | 50x | as long as short |
Kraken Futures PF_FETUSD
Coinbase International FET-PERP-INTX
gTrade (Gains Network) FET/USD
Aster FETUSDT
Binance FETUSDT
Gate FET_USDT
MEXC FET_USDT
KuCoin FETUSDTMShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni FET | +0.0100% | 8h | 0.2065 | +2.745% | $363K | $399K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2066 | +2.786% | $38K | $6K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2068 | +2.886% | $34K | $246K | 10x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0202% / S −0.0278% | 1h | 0.2066 | +2.798% | $14K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2065 | +2.736% | $1.7M | $2.7M | 100x | as long as short |
| BingX FET-USDT | +0.0287% | 8h | 0.2071 | +3.035% | — | $5.7M | — | as long as short |
| OKX FET-USDT-SWAP | +0.0303% | 4h | 0.2074 | +3.184% | $1.1M | $8.2M | 20x | as long as short |
| Bitget FETUSDT | +0.0303% | 8h | 0.2072 | +3.085% | $16.7M | $11.5M | 75x | as long as short |
| Hyperliquid FET | +0.0398% | 1h | 0.2071 | +3.045% | $9.3M | $8.1M | 5x | as long as short |
| Phoenix FET | +0.0467% | 1h | 0.2066 | +2.806% | $36K | $45K | 5x | as long as short |
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
BingX FET-USDT
OKX FET-USDT-SWAP
Bitget FETUSDT
Hyperliquid FET
Phoenix FET