Funding you earn now, next payment 09:00 UTC−0.0221%/8h= −24.2% APRnext payment −$0.28 per $10,000 · paid last 24h −0.079%
Price spread now: Injective against tradeXYZ−1.061%94s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.119%−$12 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Injective is 1.061% cheaper against tradeXYZ than usual: you would sell low and buy high (−$106 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 94 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.119% in total (about -6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.28 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:SP500 | 7,745.5 | 0.0001 | pay 0.0000% / 1h | 33m 48s | $428.6M | $237.5M | 50x |
| Short | Injective US500/USDC PERP | 7,663.3 | −0.0220 | pay 0.0028% / 1h | 33m 48s | $7K | $104 | 52x |
tradeXYZ xyz:SP500
Injective US500/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against tradeXYZ. 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
- −$46.41
- Price spread: −1.061% → 0.000%
- −$106.13
- Slippage, 4 orders
- no order book: not counted
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$170.55
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: tradeXYZ: live order book, 5 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 tradeXYZ live order book, 5 min ago | 0.06 bp | 9.1 bp −$9 | 9.5 bp −$95 | 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.
SP500 on 18 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 US500/USDC PERPshort | −0.0220% | 1h | 7,663.3 | −1.061% | $7K | $104 | 52x | |
| Extended SPX500m-USD | −0.0048% | 1h | 7,749 | +0.046% | $3.3M | $11.3M | 25x | as long as short |
| QFEX US500-USD | −0.0042% | 1h | 7,746.6 | +0.014% | $9.9M | $3.1M | 30x | as long as short |
| OKX US500-USDT-SWAP | 0.0000% | 8h | 7,753.2 | +0.099% | $141K | $229K | 20x | as long as short |
| Bitget SP500USDT | 0.0000% | 8h | 7,750.9 | +0.070% | $7.2M | $768K | 50x | as long as short |
| Variational Omni US500 | 0.0000% | 8h | 7,725.1 | −0.264% | $17.5M | $8.3M | — | as long as short |
| Bullet US500-USD | 0.0000% | 1h | 7,746.6 | +0.014% | $13K | $105K | 10x | as long as short |
| tradeXYZ xyz:SP500long | +0.0001% | 1h | 7,745.5 | long leg | $428.6M | $237.5M | 50x | |
| Lighter US500 | +0.0032% | 1h | 7,748.2 | +0.035% | $2.0M | $28.1M | 50x | as long as short |
| Markets by Kinetiq mkts:US500 | +0.0046% | 1h | 7,719.8 | −0.332% | $1.6M | $7.5M | 25x | as long as short |
Extended SPX500m-USD
QFEX US500-USD
OKX US500-USDT-SWAP
Bitget SP500USDT
Variational Omni US500
Bullet US500-USD
Lighter US500
Markets by Kinetiq mkts:US500Show all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest SPX-USD-PERP | +0.0046% | 1h | 7,815.5 | +0.904% | — | $4.3M | 50x | as long as short |
| Popdex US500USDT | +0.0048% | 1h | 7,750.5 | +0.065% | $623K | $508K | 20x | as long as short |
| Paradex US500-USD-PERP | +0.0050% | 8h | 7,747.3 | +0.024% | $42K | — | 5x | as long as short |
| Polymarket Perps SP500-USD | +0.0050% | 1h | 7,749.2 | +0.048% | $9.0M | $2.2M | 50x | as long as short |
| SoDEX US500-USD | +0.0050% | 1h | 7,748 | +0.032% | $1.3M | $191K | 20x | as long as short |
| Ondo Perps US500-USD.P | +0.0050% | 1h | 7,748.4 | +0.038% | $9.5M | $8.3M | 25x | as long as short |
| Pacifica SP500 | +0.0100% | 1h | 7,750.1 | +0.060% | $258K | $173K | 20x | as long as short |
| Aftermath Perps US500USD | +0.0322% | 1h | 7,747.9 | +0.031% | $473 | $30K | 10x | as long as short |
Vest SPX-USD-PERP
Popdex US500USDT
Paradex US500-USD-PERP
Polymarket Perps SP500-USD
SoDEX US500-USD
Ondo Perps US500-USD.P
Pacifica SP500
Aftermath Perps US500USD