Funding you earn now, next payment 07:00 UTC−0.0508%/8h= −55.6% APRpaid last 24h −0.154%
Price spread now: Bybit against Coinbase International−0.035%7-day average −0.166% · you buy dearer than you sell
Net, funding: paid 7d − costs−$109as in the Funding arb table
Net, price: spread back to 7d avg − costs−$80as in the Price arb table
costs, in and out, $10k−$930.927% of the position
Funding, last 7 days−0.162%−$16 on $10k
+Price spread, last 4 days (all we have)−0.102%−$10 · spread now −0.035%, 7d avg −0.166%
=The price spread pays, funding is against you. Bybit is 0.130% dearer against Coinbase International than usual: you sell high and buy low (spread −0.035% now, against its 7-day average of −0.166%): +$13 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 7 days (−0.162% in total) that is about 5.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.162% in total (about -8.4% 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 | 7.6820 | 0.0608 | pay 0.0076% / 1h | 18m 42s | $387K | $713K | 50x |
| Short | Bybit INJUSDT | 7.6793 | 0.0100 | get 0.0100% / 8h | 18m 42s | $21.3M | $32.6M | 50x |
Coinbase International INJ-PERP-INTX
Bybit INJUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$106.68
- Price spread: −0.035% → −0.166%
- $13.04
- Slippage, 4 orders
- −$71.69
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$186.34
- Costs to cover
- 0.927%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 20 min ago; Bybit: live order book, 5 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, 20 min ago | 7.13 bp | 31.1 bp −$31 | 80.1 bp −$801 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 0.65 bp | 18.3 bp −$18 | 44.8 bp −$448 | 134.9 bp −$13.5K | doesn't fit |
INJ on 24 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 | 7.6693 | −0.165% | — | — | 20x | as long as short |
| dYdX INJ-USD | 0.0000% | 1h | 7.6808 | −0.016% | $79K | $17K | 5x | as long as short |
| gTrade (Gains Network) INJ/USD | L +0.0007% / S −0.0029% | 1h | 7.6722 | −0.128% | $16K | — | 150x | as long as short |
| Aevo INJ-PERP | +0.0096% | 1h | 7.6760 | −0.078% | $69K | — | 3x | as long as short |
| Orderly PERP_INJ_USDC | +0.0100% | 8h | 7.6750 | −0.091% | $34K | $83K | 10x | as long as short |
| Aster INJUSDT | +0.0100% | 8h | 7.6815 | −0.006% | $148K | $447K | 20x | as long as short |
| Binance INJUSDT | +0.0100% | 8h | 7.6830 | +0.013% | $34.0M | $103.0M | 75x | as long as short |
| Bybit INJUSDTshort | +0.0100% | 8h | 7.6793 | −0.035% | $21.3M | $32.6M | 50x | |
| OKX INJ-USDT-SWAP | +0.0100% | 8h | 7.6810 | −0.013% | $6.1M | $20.6M | 50x | as long as short |
| Gate INJ_USDT | +0.0100% | 8h | 7.6810 | −0.013% | $2.7M | $5.9M | 50x | as long as short |
Reya INJRUSDPERP
dYdX INJ-USD
gTrade (Gains Network) INJ/USD
Aevo INJ-PERP
Orderly PERP_INJ_USDC
Aster INJUSDT
Binance INJUSDT
OKX INJ-USDT-SWAP
Gate INJ_USDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin INJUSDTM | +0.0100% | 8h | 7.6820 | 0.000% | $8.6M | $18.6M | 50x | as long as short |
| Bitget INJUSDT | +0.0100% | 8h | 7.6800 | −0.026% | $14.1M | $11.7M | 75x | as long as short |
| Variational Omni INJ | +0.0100% | 8h | 7.6382 | −0.571% | $271K | $144K | — | as long as short |
| ApeX Omni INJUSDT | +0.0100% | 1h | 7.6640 | −0.234% | $46K | $266K | 50x | as long as short |
| Extended INJ-USD | +0.0104% | 1h | 7.6829 | +0.012% | $114K | $640K | 10x | as long as short |
| BloFin INJ-USDT | +0.0220% | 8h | 7.6800 | −0.026% | $1.7M | $5.7M | 75x | as long as short |
| BingX INJ-USDT | +0.0248% | 8h | 7.6820 | 0.000% | — | $21.5M | — | as long as short |
| MEXC INJ_USDT | +0.0261% | 8h | 7.6830 | +0.013% | $30.5M | $20.8M | 300x | as long as short |
| GMX INJ/USD [WBTC.b-USDC] | L +0.0325% / S −0.0344% | 1h | 7.6722 | −0.128% | $40K | — | 100x | as long as short |
| Hyperliquid INJ | +0.0448% | 1h | 7.6917 | +0.126% | $25.8M | $8.8M | 5x | as long as short |
| Deribit INJ_USDC-PERPETUAL | +0.0467% | 1h | 7.6793 | −0.035% | $6K | $26K | 25x | as long as short |
| Kraken Futures PF_INJUSD | +0.0568% | 1h | 7.6826 | +0.007% | $809K | $3.6M | 50x | as long as short |
| Coinbase International INJ-PERP-INTXlong | +0.0608% | 1h | 7.6820 | long leg | $387K | $713K | 50x | |
| Injective INJ/USDC PERP | +0.1548% | 1h | 7.6730 | −0.117% | $313K | $12.5M | 30x | as long as short |
KuCoin INJUSDTM
Bitget INJUSDT
Variational Omni INJ
ApeX Omni INJUSDT
Extended INJ-USD
BloFin INJ-USDT
BingX INJ-USDT
MEXC INJ_USDT
GMX INJ/USD [WBTC.b-USDC]
Hyperliquid INJ
Deribit INJ_USDC-PERPETUAL
Kraken Futures PF_INJUSD
Injective INJ/USDC PERP