Funding arb · Price arb /

INJ

all INJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0098%/8h= +10.8% APRpaid last 24h +0.063%

Price spread now: GMX against Orderly−0.030%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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. GMX is 0.030% cheaper against Orderly than usual: you would sell low and buy high (spread −0.030% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 24 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	Orderly PERP_INJ_USDC	7.6750	0.0100	pay 0.0100% / 8h	2h 05m	$35K	$94K	10x
Short	GMX INJ/USD [WBTC.b-USDC]	7.6727	L +0.0268% / S −0.0198%	get 0.0025% / 1h	5m 54s	$29K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now −0.030%Rate

Funding earned: $20.62
Price spread: −0.030% → 0.000%: −$2.98
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: −$0.36
Costs to cover: 0.180%
Break-even: 7.1 days

Slippage unknown: Orderly: no order-book sample; GMX: 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 Orderly no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Orderly and GMX: 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_INJUSD	−0.0211%	1h	7.6767	+0.022%	$795K	$3.5M	50x	as long as short
Reya INJRUSDPERP	−0.0200%	1h	7.6703	−0.062%	—	—	20x	as long as short
dYdX INJ-USD	0.0000%	1h	7.6563	−0.243%	$79K	$17K	5x	as long as short
gTrade (Gains Network) INJ/USD	L +0.0007% / S −0.0016%	1h	7.6731	−0.025%	$19K	—	150x	as long as short
Deribit INJ_USDC-PERPETUAL	+0.0011%	1h	7.6739	−0.014%	$7K	$25K	25x	as long as short
Aevo INJ-PERP	+0.0096%	1h	7.6743	−0.009%	$69K	—	3x	as long as short
Orderly PERP_INJ_USDClong	+0.0100%	8h	7.6750	long leg	$35K	$94K	10x
Hyperliquid INJ	+0.0100%	1h	7.6807	+0.074%	$25.8M	$8.7M	5x	as long as short
Aster INJUSDT	+0.0100%	8h	7.6716	−0.044%	$139K	$420K	20x	as long as short
Binance INJUSDT	+0.0100%	8h	7.6721	−0.038%	$33.8M	$97.9M	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	7.6660	−0.117%	$21.1M	$31.7M	50x	as long as short
OKX INJ-USDT-SWAP	+0.0100%	8h	7.6690	−0.078%	$6.2M	$19.1M	50x	as long as short
Gate INJ_USDT	+0.0100%	8h	7.6700	−0.065%	$2.7M	$5.3M	50x	as long as short
KuCoin INJUSDTM	+0.0100%	8h	7.6700	−0.065%	$8.5M	$18.2M	50x	as long as short
Bitget INJUSDT	+0.0100%	8h	7.6660	−0.117%	$14.0M	$10.4M	75x	as long as short
Variational Omni INJ	+0.0100%	8h	7.6292	−0.597%	$272K	$148K	—	as long as short
ApeX Omni INJUSDT	+0.0100%	1h	7.6390	−0.469%	$46K	$270K	50x	as long as short
Extended INJ-USD	+0.0104%	1h	7.6701	−0.064%	$114K	$563K	10x	as long as short
BloFin INJ-USDT	+0.0220%	8h	7.6580	−0.221%	$1.6M	$5.7M	75x	as long as short
BingX INJ-USDT	+0.0248%	8h	7.6730	−0.026%	—	$20.8M	—	as long as short
MEXC INJ_USDT	+0.0261%	8h	7.6690	−0.078%	$30.0M	$20.3M	300x	as long as short
GMX INJ/USD [WBTC.b-USDC]short	L +0.0268% / S −0.0198%	1h	7.6727	−0.030%	$29K	—	100x
Coinbase International INJ-PERP-INTX	+0.0480%	1h	7.6740	−0.013%	$375K	$660K	50x	as long as short
Injective INJ/USDC PERP	+0.1029%	1h	7.6640	−0.143%	$319K	$12.1M	30x	as long as short