Funding arb · Price arb /

INJ

all INJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.025%

Price spread now: Orderly against Variational Omni−0.260%48s7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.260% cheaper against Variational Omni than usual: you would sell low and buy high, −$26 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 48 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	Variational Omni INJ	7.7692	0.0100	pay 0.0100% / 8h	7h 32m	$276K	$143K	—
Short	Orderly PERP_INJ_USDC	7.7490	0.0100	get 0.0100% / 8h	7h 32m	$34K	$72K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee OrderlybpOrdersPrice spread, now −0.260%Rate

Funding earned: −$0.04
Price spread: −0.260% → 0.000%: −$26.02
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$32.06
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 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 Variational Omni RFQ quote, 1 min ago	3.35 bp	doesn't fit	51.5 bp −$515	doesn't fit	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
Reya INJRUSDPERP	−0.0200%	1h	7.7608	−0.109%	—	—	20x	as long as short
gTrade (Gains Network) INJ/USD	L +0.0007% / S −0.0022%	1h	7.7571	−0.156%	$18K	—	150x	as long as short
dYdX INJ-USD	+0.0057%	1h	7.7534	−0.204%	$80K	$18K	5x	as long as short
Aevo INJ-PERP	+0.0096%	1h	7.7440	−0.325%	$70K	—	3x	as long as short
Orderly PERP_INJ_USDCshort	+0.0100%	8h	7.7490	−0.260%	$34K	$72K	10x
Aster INJUSDT	+0.0100%	8h	7.7488	−0.262%	$149K	$445K	20x	as long as short
Binance INJUSDT	+0.0100%	8h	7.7460	−0.299%	$34.4M	$103.9M	75x	as long as short
Bybit INJUSDT	+0.0100%	8h	7.7410	−0.363%	$21.4M	$32.9M	50x	as long as short
OKX INJ-USDT-SWAP	+0.0100%	8h	7.7400	−0.376%	$6.1M	$20.9M	50x	as long as short
Gate INJ_USDT	+0.0100%	8h	7.7510	−0.234%	$2.7M	$5.8M	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	7.7550	−0.183%	$8.6M	$18.7M	50x	as long as short
Bitget INJUSDT	+0.0100%	8h	7.7480	−0.273%	$14.2M	$12.0M	75x	as long as short
Variational Omni INJlong	+0.0100%	8h	7.7692	long leg	$276K	$143K	—
ApeX Omni INJUSDT	+0.0100%	1h	7.7960	+0.345%	$47K	$266K	50x	as long as short
Extended INJ-USD	+0.0104%	1h	7.7496	−0.252%	$118K	$642K	10x	as long as short
BloFin INJ-USDT	+0.0220%	8h	7.7620	−0.093%	$1.7M	$5.8M	75x	as long as short
BingX INJ-USDT	+0.0248%	8h	7.7520	−0.222%	—	$21.7M	—	as long as short
MEXC INJ_USDT	+0.0261%	8h	7.7520	−0.222%	$31.2M	$21.1M	300x	as long as short
GMX INJ/USD [WBTC.b-USDC]	L +0.0326% / S −0.0344%	1h	7.7466	−0.291%	$40K	—	100x	as long as short
Deribit INJ_USDC-PERPETUAL	+0.0576%	1h	7.7537	−0.200%	$5K	$27K	25x	as long as short
Coinbase International INJ-PERP-INTX	+0.0680%	1h	7.7650	−0.054%	$388K	$746K	50x	as long as short
Hyperliquid INJ	+0.0682%	1h	7.7667	−0.032%	$26.1M	$8.8M	5x	as long as short
Kraken Futures PF_INJUSD	+0.0829%	1h	7.7666	−0.034%	$850K	$3.8M	50x	as long as short
Injective INJ/USDC PERP	+0.1302%	1h	7.7870	+0.229%	$539K	$11.4M	30x	as long as short