Funding arb · Price arb /

INJ

all INJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.032%

Price spread now: OKX against Deribit−0.049%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. OKX is 0.049% cheaper against Deribit than usual: you would sell low and buy high (spread −0.049% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 39 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit INJ_USDC-PERPETUAL	7.5787	0	get 0.0000% / 1h	38m 16s	$6K	$24K	25x
Short	OKX INJ-USDT-SWAP	7.5750	0.0100	get 0.0100% / 8h	4h 38m	$6.1M	$18.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee OKXbpOrdersPrice spread, now −0.049%Rate

Funding earned: $21
Price spread: −0.049% → 0.000%: −$4.88
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$0.88
Costs to cover: 0.170%
Break-even: 7.3 days

Slippage unknown: Deribit: no order-book sample; OKX: live order book, 5 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 Deribit no order-book sample	—	—	—	—	—
Sell OKX live order book, 5 min ago	0.66 bp	11.2 bp −$11	34.9 bp −$349	doesn't fit	doesn't fit

Deribit: 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.

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	7.5683	−0.138%	—	—	20x	as long as short
dYdX INJ-USD	0.0000%	1h	7.5667	−0.159%	$78K	$17K	5x	as long as short
Deribit INJ_USDC-PERPETUALlong	0.0000%	1h	7.5787	long leg	$6K	$24K	25x
gTrade (Gains Network) INJ/USD	L +0.0006% / S −0.0002%	1h	7.5770	−0.022%	$3K	—	150x	as long as short
Aevo INJ-PERP	+0.0096%	1h	7.5740	−0.062%	$68K	—	3x	as long as short
Aster INJUSDT	+0.0100%	8h	7.5616	−0.226%	$140K	$420K	20x	as long as short
Binance INJUSDT	+0.0100%	8h	7.5760	−0.036%	$33.7M	$94.4M	75x	as long as short
Bybit INJUSDT	+0.0100%	8h	7.5770	−0.022%	$21.4M	$31.1M	50x	as long as short
OKX INJ-USDT-SWAPshort	+0.0100%	8h	7.5750	−0.049%	$6.1M	$18.8M	50x
Gate INJ_USDT	+0.0100%	8h	7.5700	−0.115%	$2.7M	$5.1M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin INJUSDTM	+0.0100%	8h	7.5720	−0.088%	$9.6M	$17.1M	50x	as long as short
Bitget INJUSDT	+0.0100%	8h	7.5750	−0.049%	$14.0M	$10.4M	75x	as long as short
Variational Omni INJ	+0.0100%	8h	7.6121	+0.441%	$267K	$149K	—	as long as short
ApeX Omni INJUSDT	+0.0100%	1h	7.6150	+0.479%	$46K	$271K	50x	as long as short
Orderly PERP_INJ_USDC	+0.0100%	8h	7.5740	−0.062%	$34K	$94K	10x	as long as short
Extended INJ-USD	+0.0104%	1h	7.5771	−0.021%	$113K	$367K	10x	as long as short
Hyperliquid INJ	+0.0115%	1h	7.5788	+0.001%	$25.6M	$8.8M	5x	as long as short
BloFin INJ-USDT	+0.0220%	8h	7.5710	−0.102%	$1.7M	$5.8M	75x	as long as short
GMX INJ/USD [WBTC.b-USDC]	L +0.0267% / S −0.0198%	1h	7.5753	−0.044%	$29K	—	100x	as long as short
BingX INJ-USDT	+0.0271%	8h	7.5760	−0.036%	—	$21.2M	—	as long as short
MEXC INJ_USDT	+0.0285%	8h	7.5740	−0.062%	$30.2M	$21.1M	300x	as long as short
Kraken Futures PF_INJUSD	+0.0325%	1h	7.5798	+0.014%	$868K	$3.4M	50x	as long as short
Coinbase International INJ-PERP-INTX	+0.0688%	1h	7.5940	+0.202%	$375K	$592K	50x	as long as short
Injective INJ/USDC PERP	+0.1333%	1h	7.6450	+0.875%	$319K	$12.1M	30x	as long as short