Funding arb · Price arb /

INJ

all INJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0271%/8h= +29.7% APRpaid last 24h +0.068%

Price spread now: BingX against dYdX−0.022%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.343%+$34 on $10k

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. BingX is 0.022% cheaper against dYdX than usual: you would sell low and buy high (spread −0.022% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 7 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX INJ-USD	7.8237	0	get 0.0000% / 1h	26m 43s	$90K	$8K	5x
Short	BingX INJ-USDT	7.8220	0.0271	get 0.0271% / 8h	7h 26m	—	$21.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against dYdX. 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 dYdXbpFee BingXbpOrdersPrice spread, now −0.022%Rate

Funding earned: $56.91
Price spread: −0.022% → 0.000%: −$2.23
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $34.68
Costs to cover: 0.200%
Break-even: 2.7 days

Slippage unknown: dYdX: no order-book sample; BingX: live order book, 12 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 dYdX no order-book sample	—	—	—	—	—
Sell BingX live order book, 12 min ago	0.64 bp	6.5 bp −$7	9.0 bp −$90	21.1 bp −$2,105	54.1 bp −$27.1K

dYdX: 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	7.8208	−0.038%	—	—	20x	as long as short
dYdX INJ-USDlong	0.0000%	1h	7.8237	long leg	$90K	$8K	5x
Deribit INJ_USDC-PERPETUAL	0.0000%	1h	7.8230	−0.010%	$6K	$24K	25x	as long as short
gTrade (Gains Network) INJ/USD	L +0.0006% / S −0.0002%	1h	7.8255	+0.023%	$3K	—	150x	as long as short
Variational Omni INJ	+0.0085%	8h	7.8593	+0.454%	$280K	$160K	—	as long as short
Aevo INJ-PERP	+0.0096%	1h	7.8139	−0.126%	$71K	—	3x	as long as short
Orderly PERP_INJ_USDC	+0.0100%	8h	7.8190	−0.061%	$38K	$66K	10x	as long as short
Aster INJUSDT	+0.0100%	8h	7.8291	+0.069%	$150K	$443K	20x	as long as short
Binance INJUSDT	+0.0100%	8h	7.8280	+0.054%	$35.7M	$93.4M	75x	as long as short
Bybit INJUSDT	+0.0100%	8h	7.8241	+0.004%	$21.9M	$31.4M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX INJ-USDT-SWAP	+0.0100%	8h	7.8270	+0.042%	$6.4M	$19.6M	50x	as long as short
Gate INJ_USDT	+0.0100%	8h	7.8200	−0.048%	$2.8M	$4.9M	50x	as long as short
KuCoin INJUSDTM	+0.0100%	8h	7.8220	−0.022%	$9.5M	$16.6M	50x	as long as short
Bitget INJUSDT	+0.0100%	8h	7.8240	+0.003%	$14.4M	$10.2M	75x	as long as short
ApeX Omni INJUSDT	+0.0100%	1h	7.8350	+0.144%	$48K	$321K	50x	as long as short
Extended INJ-USD	+0.0104%	1h	7.8234	−0.004%	$116K	$715K	10x	as long as short
Kraken Futures PF_INJUSD	+0.0195%	1h	7.8274	+0.046%	$890K	$3.0M	50x	as long as short
BloFin INJ-USDT	+0.0220%	8h	7.8260	+0.029%	$1.8M	$7.7M	75x	as long as short
BingX INJ-USDTshort	+0.0271%	8h	7.8220	−0.022%	—	$21.4M	—
MEXC INJ_USDT	+0.0285%	8h	7.8260	+0.029%	$31.7M	$22.6M	300x	as long as short
GMX INJ/USD [WBTC.b-USDC]	L +0.0355% / S −0.0418%	1h	7.8249	+0.014%	$46K	—	100x	as long as short
Hyperliquid INJ	+0.0498%	1h	7.8318	+0.102%	$26.4M	$9.2M	5x	as long as short
Coinbase International INJ-PERP-INTX	+0.0632%	1h	7.8320	+0.105%	$385K	$638K	50x	as long as short
Injective INJ/USDC PERP	+0.1436%	1h	7.8500	+0.336%	$327K	$12.1M	30x	as long as short