Funding you earn now, next payment 02:00 UTC−0.0540%/8h= −59.1% APRpaid last 24h −0.111%
Price spread now: Binance against Coinbase International0.000%7-day average −0.129% · you sell dearer than you buy
Net, funding: paid 7d − costs−$91as in the Funding arb table
Net, price: spread back to 7d avg − costs−$64as in the Price arb table
costs, in and out, $10k−$760.765% of the position
Funding, last 7 days−0.146%−$15 on $10k
+Price spread, last 3 days (all we have)−0.095%−$9 · spread now 0.000%, 7d avg −0.129%
=The price spread pays, funding is against you. Binance is 0.129% dearer against Coinbase International than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.129%): +$13 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 19 hours. At the pace of the last 7 days (−0.146% in total) that is about 6.2 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.146% in total (about -7.6% a year). A funding rate is set anew for every payment. 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 | Coinbase International INJ-PERP-INTX | 7.8130 | 0.0640 | pay 0.0080% / 1h | 56m 14s | $382K | $592K | 50x |
| Short | Binance INJUSDT | 7.8130 | 0.0100 | get 0.0100% / 8h | 5h 56m | $35.5M | $90.0M | 75x |
Coinbase International INJ-PERP-INTX
Binance INJUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Coinbase International. 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
- −$113.4
- Price spread: 0.000% → −0.129%
- $12.93
- Slippage, 4 orders
- −$56.45
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$176.92
- Costs to cover
- 0.765%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 7 min ago; Binance: live order book, 1 min ago.
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 Coinbase International live order book, 7 min ago | 11.53 bp | 26.7 bp −$27 | 67.3 bp −$673 | doesn't fit | doesn't fit |
| Sell Binance live order book, 1 min ago | 0.64 bp | 10.8 bp −$11 | 26.5 bp −$265 | 106.9 bp −$10.7K | doesn't fit |
INJ on 23 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya INJRUSDPERP | −0.0200% | 1h | 7.8147 | +0.022% | — | — | 20x | as long as short |
| dYdX INJ-USD | 0.0000% | 1h | 7.7867 | −0.337% | $81K | $17K | 5x | as long as short |
| gTrade (Gains Network) INJ/USD | L +0.0006% / S −0.0002% | 1h | 7.8123 | −0.009% | $3K | — | 150x | as long as short |
| Aevo INJ-PERP | +0.0096% | 1h | 7.8108 | −0.028% | $71K | — | 3x | as long as short |
| Aster INJUSDT | +0.0100% | 8h | 7.8122 | −0.010% | $149K | $424K | 20x | as long as short |
| Binance INJUSDTshort | +0.0100% | 8h | 7.8130 | 0.000% | $35.5M | $90.0M | 75x | |
| Bybit INJUSDT | +0.0100% | 8h | 7.8120 | −0.013% | $22.1M | $30.6M | 50x | as long as short |
| OKX INJ-USDT-SWAP | +0.0100% | 8h | 7.8120 | −0.013% | $6.4M | $18.7M | 50x | as long as short |
| Gate INJ_USDT | +0.0100% | 8h | 7.8120 | −0.013% | $2.8M | $4.9M | 50x | as long as short |
| KuCoin INJUSDTM | +0.0100% | 8h | 7.8080 | −0.064% | $9.4M | $16.5M | 50x | as long as short |
Reya INJRUSDPERP
dYdX INJ-USD
gTrade (Gains Network) INJ/USD
Aevo INJ-PERP
Aster INJUSDT
Bybit INJUSDT
OKX INJ-USDT-SWAP
Gate INJ_USDT
KuCoin INJUSDTMShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget INJUSDT | +0.0100% | 8h | 7.8070 | −0.077% | $14.3M | $9.9M | 75x | as long as short |
| Variational Omni INJ | +0.0100% | 8h | 7.7961 | −0.216% | $274K | $151K | — | as long as short |
| ApeX Omni INJUSDT | +0.0100% | 1h | 7.8080 | −0.064% | $47K | $273K | 50x | as long as short |
| Orderly PERP_INJ_USDC | +0.0100% | 8h | 7.8130 | 0.000% | $35K | $80K | 10x | as long as short |
| Extended INJ-USD | +0.0104% | 1h | 7.8091 | −0.050% | $117K | $364K | 10x | as long as short |
| Deribit INJ_USDC-PERPETUAL | +0.0134% | 1h | 7.8121 | −0.012% | $6K | $24K | 25x | as long as short |
| GMX INJ/USD [WBTC.b-USDC] | L +0.0269% / S −0.0198% | 1h | 7.8121 | −0.012% | $30K | — | 100x | as long as short |
| BingX INJ-USDT | +0.0271% | 8h | 7.8080 | −0.064% | — | $21.2M | — | as long as short |
| Hyperliquid INJ | +0.0278% | 1h | 7.8269 | +0.178% | $26.4M | $8.8M | 5x | as long as short |
| MEXC INJ_USDT | +0.0285% | 8h | 7.8160 | +0.038% | $31.9M | $20.6M | 300x | as long as short |
| Kraken Futures PF_INJUSD | +0.0438% | 1h | 7.8087 | −0.055% | $868K | $3.0M | 50x | as long as short |
| Coinbase International INJ-PERP-INTXlong | +0.0640% | 1h | 7.8130 | long leg | $382K | $592K | 50x | |
| Injective INJ/USDC PERP | +0.1331% | 1h | 7.8120 | −0.013% | $326K | $12.1M | 30x | as long as short |
Bitget INJUSDT
Variational Omni INJ
ApeX Omni INJUSDT
Orderly PERP_INJ_USDC
Extended INJ-USD
Deribit INJ_USDC-PERPETUAL
GMX INJ/USD [WBTC.b-USDC]
BingX INJ-USDT
Hyperliquid INJ
MEXC INJ_USDT
Kraken Futures PF_INJUSD
Injective INJ/USDC PERP