Funding arb · Price arb /

INJ

all INJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0333%/8h= +36.5% APRpaid last 24h −0.011%

Price spread now: Orderly against Kraken Futures−0.044%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.283%−$28 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. Orderly is 0.044% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.044% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 11 hours of funding at the current rate (+$10 a day). Mind the row above: over the last 7 days funding on this pair cost −0.283%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_INJUSD	7.5944	−0.0233	get 0.0029% / 1h	15m 57s	$781K	$3.4M	50x
Short	Orderly PERP_INJ_USDC	7.5910	0.0100	get 0.0100% / 8h	3h 15m	$34K	$94K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Kraken Futures. 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 Kraken FuturesbpFee OrderlybpOrdersPrice spread, now −0.044%Rate

Funding earned: $69.94
Price spread: −0.044% → 0.000%: −$4.44
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $49.5
Costs to cover: 0.160%
Break-even: 2.0 days

Slippage unknown: Kraken Futures: live order book, 3 min ago; Orderly: no order-book sample. 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 Kraken Futures live order book, 3 min ago	6.57 bp	15.6 bp −$16	35.4 bp −$354	2389.1 bp −$238.9K	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
Kraken Futures PF_INJUSDlong	−0.0233%	1h	7.5944	long leg	$781K	$3.4M	50x
Reya INJRUSDPERP	−0.0200%	1h	7.5878	−0.087%	—	—	20x	as long as short
dYdX INJ-USD	0.0000%	1h	7.5935	−0.012%	$79K	$17K	5x	as long as short
Deribit INJ_USDC-PERPETUAL	0.0000%	1h	7.5909	−0.046%	$6K	$24K	25x	as long as short
gTrade (Gains Network) INJ/USD	L +0.0007% / S −0.0035%	1h	7.5930	−0.018%	$16K	—	150x	as long as short
Aevo INJ-PERP	+0.0096%	1h	7.5885	−0.077%	$69K	—	3x	as long as short
Orderly PERP_INJ_USDCshort	+0.0100%	8h	7.5910	−0.044%	$34K	$94K	10x
Hyperliquid INJ	+0.0100%	1h	7.5989	+0.060%	$25.6M	$8.7M	5x	as long as short
Aster INJUSDT	+0.0100%	8h	7.5957	+0.017%	$139K	$418K	20x	as long as short
Binance INJUSDT	+0.0100%	8h	7.5930	−0.018%	$33.1M	$96.4M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit INJUSDT	+0.0100%	8h	7.5915	−0.038%	$21.1M	$31.8M	50x	as long as short
OKX INJ-USDT-SWAP	+0.0100%	8h	7.5930	−0.018%	$6.2M	$18.6M	50x	as long as short
Gate INJ_USDT	+0.0100%	8h	7.5900	−0.058%	$2.7M	$5.3M	50x	as long as short
KuCoin INJUSDTM	+0.0100%	8h	7.5920	−0.031%	$9.5M	$17.7M	50x	as long as short
Bitget INJUSDT	+0.0100%	8h	7.5830	−0.150%	$13.9M	$10.2M	75x	as long as short
Variational Omni INJ	+0.0100%	8h	7.5872	−0.095%	$267K	$144K	—	as long as short
ApeX Omni INJUSDT	+0.0100%	1h	7.6120	+0.232%	$46K	$271K	50x	as long as short
Extended INJ-USD	+0.0104%	1h	7.5908	−0.047%	$113K	$357K	10x	as long as short
BloFin INJ-USDT	+0.0220%	8h	7.5960	+0.021%	$1.6M	$5.8M	75x	as long as short
BingX INJ-USDT	+0.0248%	8h	7.5920	−0.031%	—	$20.9M	—	as long as short
MEXC INJ_USDT	+0.0261%	8h	7.5880	−0.084%	$29.9M	$21.5M	300x	as long as short
GMX INJ/USD [WBTC.b-USDC]	L +0.0267% / S −0.0198%	1h	7.5908	−0.046%	$29K	—	100x	as long as short
Coinbase International INJ-PERP-INTX	+0.0552%	1h	7.6070	+0.166%	$368K	$619K	50x	as long as short
Injective INJ/USDC PERP	+0.1172%	1h	7.6790	+1.114%	$320K	$12.1M	30x	as long as short