Funding you earn now, next payment 05:00 UTC−0.0367%/8h= −40.2% APRnext payment −$0.46 per $10,000 · paid last 24h −0.074%
Price spread now: Injective against Coinbase International+2.675%64s7-day average — · you sell dearer than you buy
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
The price spread pays, funding is against you. Injective is 2.675% dearer against Coinbase International than usual: you sell high and buy low (spread +2.675% now, against zero (this spread has no 7-day history yet)): +$268 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 24 days. The two prices were read 64 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 | Coinbase International W-PERP-INTX | 0.01178 | 0.0400 | pay 0.0050% / 1h | 33m 44s | $14K | $13K | 50x |
| Short | Injective W/USDC PERP | 0.01209 | 0.0033 | get 0.0004% / 1h | 33m 44s | $1K | $1K | 12x |
Coinbase International W-PERP-INTX
Injective W/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Coinbase International. 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
- −$77
- Price spread: +2.675% → 0.000%
- $267.52
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $180.5
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Coinbase International: no order-book sample; 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 Coinbase International no order-book sample | — | — | — | — | — |
| Sell Injective no order-book sample | — | — | — | — | — |
Coinbase International and 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.
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit W_USDC-PERPETUAL | −0.0007% | 1h | 0.01167 | −0.926% | $14K | $3K | 10x | as long as short |
| Injective W/USDC PERPshort | +0.0033% | 1h | 0.01209 | +2.675% | $1K | $1K | 12x | |
| Hyperliquid W | +0.0100% | 1h | 0.01166 | −0.977% | $2.0M | $281K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01166 | −0.984% | $2.9M | $5.3M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01165 | −1.028% | $4.1M | $1.6M | 50x | as long as short |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01165 | −1.053% | $1.3M | $1.6M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01165 | −1.070% | $425K | $239K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01166 | −0.968% | $12.2M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01165 | −1.062% | $387K | $191K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01167 | −0.892% | $1.3M | $539K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Hyperliquid W
Binance WUSDT
Bybit WUSDT
OKX W-USDT-SWAP
Gate W_USDT
MEXC W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDT | +0.0100% | 4h | 0.01167 | −0.900% | — | $6.7M | — | as long as short |
| Backpack W_USDC_PERP | +0.0100% | 1h | 0.01168 | −0.807% | $43K | $42K | 15x | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01168 | −0.822% | $71K | $40K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01169 | −0.692% | $123K | $375K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01166 | −1.003% | $60K | $147K | 5x | as long as short |
| Coinbase International W-PERP-INTXlong | +0.0400% | 1h | 0.01178 | long leg | $14K | $13K | 50x | |
| Kraken Futures PF_WUSD | +0.1747% | 1h | 0.01169 | −0.689% | $145K | $185K | 20x | as long as short |
BingX W-USDT
Backpack W_USDC_PERP
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Kraken Futures PF_WUSD