Funding you earn now, next payment 03:00 UTC−0.1231%/8h= −134.8% APRpaid last 24h −0.370%
Price spread now: Bybit against Injective−1.018%78s7-day average −0.261% · you buy dearer than you sell
Net, funding: paid 7d − costs−$269as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$880.884% of the position
Funding, last 7 days−1.801%−$180 on $10k
+Price spread, last 3 days (all we have)+0.538%+$54 · spread now −1.018%, 7d avg −0.261%
=Both sides work against this trade now: funding costs −$37 a day on $10k at the current rate, and Bybit is 0.757% cheaper against Injective than usual: you would sell low and buy high (−$76 if the spread goes back to its 7-day average of −0.261%). Swap the legs. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective INJ/USDC PERP | 7.8550 | 0.1331 | pay 0.0166% / 1h | 58m 07s | $327K | $12.1M | 30x |
| Short | Bybit INJUSDT | 7.7750 | 0.0100 | get 0.0100% / 8h | 5h 58m | $22.0M | $30.6M | 50x |
Injective INJ/USDC PERP
Bybit INJUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$258.53
- Price spread: −1.018% → −0.261%
- −$75.74
- Slippage, 4 orders
- −$77.42
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$422.72
- Costs to cover
- 0.884%
- Break-even
- never at this rate
Slippage from Injective: live order book, 1 min ago; Bybit: 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 Injective live order book, 1 min ago | 26.21 bp | 26.2 bp −$26 | 2318.8 bp −$23.2K | 113188.2 bp −$11.32M | 605940.6 bp −$302.97M |
| Sell Bybit live order book, 1 min ago | 0.64 bp | 20.7 bp −$21 | 51.2 bp −$512 | doesn't fit | 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 | 7.7848 | −0.894% | — | — | 20x | as long as short |
| dYdX INJ-USD | 0.0000% | 1h | 7.8042 | −0.647% | $81K | $17K | 5x | as long as short |
| Deribit INJ_USDC-PERPETUAL | 0.0000% | 1h | 7.7876 | −0.858% | $6K | $24K | 25x | as long as short |
| gTrade (Gains Network) INJ/USD | L +0.0006% / S −0.0002% | 1h | 7.7862 | −0.876% | $3K | — | 150x | as long as short |
| Aevo INJ-PERP | +0.0096% | 1h | 7.7858 | −0.881% | $70K | — | 3x | as long as short |
| Aster INJUSDT | +0.0100% | 8h | 7.7948 | −0.766% | $149K | $424K | 20x | as long as short |
| Binance INJUSDT | +0.0100% | 8h | 7.7780 | −0.980% | $35.4M | $90.1M | 75x | as long as short |
| Bybit INJUSDTshort | +0.0100% | 8h | 7.7750 | −1.018% | $22.0M | $30.6M | 50x | |
| OKX INJ-USDT-SWAP | +0.0100% | 8h | 7.7770 | −0.993% | $6.3M | $18.6M | 50x | as long as short |
| Gate INJ_USDT | +0.0100% | 8h | 7.7780 | −0.980% | $2.7M | $4.9M | 50x | as long as short |
Reya INJRUSDPERP
dYdX INJ-USD
Deribit INJ_USDC-PERPETUAL
gTrade (Gains Network) INJ/USD
Aevo INJ-PERP
Aster INJUSDT
Binance INJUSDT
OKX INJ-USDT-SWAP
Gate INJ_USDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin INJUSDTM | +0.0100% | 8h | 7.7840 | −0.904% | $9.3M | $16.5M | 50x | as long as short |
| Bitget INJUSDT | +0.0100% | 8h | 7.7780 | −0.980% | $14.3M | $9.9M | 75x | as long as short |
| Variational Omni INJ | +0.0100% | 8h | 7.7961 | −0.749% | $274K | $151K | — | as long as short |
| ApeX Omni INJUSDT | +0.0100% | 1h | 7.8040 | −0.649% | $47K | $273K | 50x | as long as short |
| Orderly PERP_INJ_USDC | +0.0100% | 8h | 7.7870 | −0.866% | $35K | $80K | 10x | as long as short |
| Extended INJ-USD | +0.0104% | 1h | 7.7762 | −1.004% | $116K | $365K | 10x | as long as short |
| Hyperliquid INJ | +0.0129% | 1h | 7.7900 | −0.827% | $26.2M | $8.8M | 5x | as long as short |
| GMX INJ/USD [WBTC.b-USDC] | L +0.0269% / S −0.0198% | 1h | 7.7844 | −0.899% | $29K | — | 100x | as long as short |
| BingX INJ-USDT | +0.0271% | 8h | 7.7850 | −0.891% | — | $21.2M | — | as long as short |
| MEXC INJ_USDT | +0.0285% | 8h | 7.7820 | −0.929% | $31.8M | $20.6M | 300x | as long as short |
| Kraken Futures PF_INJUSD | +0.0439% | 1h | 7.7873 | −0.862% | $866K | $3.0M | 50x | as long as short |
| Coinbase International INJ-PERP-INTX | +0.0640% | 1h | 7.8230 | −0.407% | $382K | $593K | 50x | as long as short |
| Injective INJ/USDC PERPlong | +0.1331% | 1h | 7.8550 | long leg | $327K | $12.1M | 30x |
KuCoin INJUSDTM
Bitget INJUSDT
Variational Omni INJ
ApeX Omni INJUSDT
Orderly PERP_INJ_USDC
Extended INJ-USD
Hyperliquid INJ
GMX INJ/USD [WBTC.b-USDC]
BingX INJ-USDT
MEXC INJ_USDT
Kraken Futures PF_INJUSD
Coinbase International INJ-PERP-INTX