Funding you earn now, next payment 00:00 UTC−0.4682%/8h= −512.7% APRpaid last 24h −1.424%
Price spread now: Injective against Bybit−0.650%48s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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—needs both histories
Both sides work against this trade now: funding costs −$140 a day on $10k at the current rate, and Injective is 0.650% cheaper against Bybit than usual: you would sell low and buy high (−$65 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. 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 | Bybit USUALUSDT | 0.01369 | 0.0100 | pay 0.0050% / 4h | 22m 37s | $1.0M | $822K | 25x |
| Short | Injective USUAL/USDC PERP | 0.01360 | −0.4582 | pay 0.0573% / 1h | 22m 37s | $6K | $2K | 5.5x |
Bybit USUALUSDT
Injective USUAL/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Bybit. 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
- −$983.24
- Price spread: −0.650% → 0.000%
- −$65.02
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$1,059.27
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 3 min ago; Injective: 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 Bybit live order book, 3 min ago | 5.11 bp | 37.7 bp −$38 | 314.4 bp −$3,144 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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.
USUAL on 11 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective USUAL/USDC PERPshort | −0.4582% | 1h | 0.01360 | −0.650% | $6K | $2K | 5.5x | |
| Kraken Futures PF_USUALUSD | −0.0770% | 1h | 0.01367 | −0.168% | $111K | $18K | 10x | as long as short |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01367 | −0.139% | $393K | $201K | 3x | as long as short |
| Binance USUALUSDT | +0.0100% | 4h | 0.01368 | −0.088% | $2.1M | $3.4M | 50x | as long as short |
| Bybit USUALUSDTlong | +0.0100% | 4h | 0.01369 | long leg | $1.0M | $822K | 25x | |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01369 | +0.007% | $926K | $213K | 50x | as long as short |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01366 | −0.205% | $6.0M | $248K | 100x | as long as short |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01369 | +0.007% | $279K | $60K | 20x | as long as short |
| Bitget USUALUSDT | +0.0100% | 4h | 0.01369 | +0.007% | $830K | $453K | 50x | as long as short |
| BingX USUAL-USDT | +0.0100% | 4h | 0.01368 | −0.066% | — | $1.2M | — | as long as short |
Kraken Futures PF_USUALUSD
Hyperliquid USUAL
Binance USUALUSDT
Gate USUAL_USDT
MEXC USUAL_USDT
KuCoin USUALUSDTM
Bitget USUALUSDT
BingX USUAL-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni USUAL | +0.0100% | 4h | 0.01372 | +0.211% | $9K | $208 | — | as long as short |
Variational Omni USUAL