Funding you earn now, next payment 03:00 UTC−0.0588%/8h= −64.4% APRpaid last 24h −0.145%
Price spread now: Bybit against Coinbase International−0.119%7-day average −0.174% · you buy dearer than you sell
Net, funding: paid 7d − costs−$107as in the Funding arb table
Net, price: spread back to 7d avg − costs−$87as in the Price arb table
costs, in and out, $10k−$920.924% of the position
Funding, last 7 days−0.142%−$14 on $10k
+Price spread, last 4 days (all we have)+0.025%+$3 · spread now −0.119%, 7d avg −0.174%
=The price spread pays, funding is against you. Bybit is 0.055% dearer against Coinbase International than usual: you sell high and buy low (spread −0.119% now, against its 7-day average of −0.174%): +$5 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−0.142% in total) that is about 2.7 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.142% in total (about -7.4% a year). A funding rate is set anew for every payment. 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 | Coinbase International INJ-PERP-INTX | 7.5710 | 0.0688 | pay 0.0086% / 1h | 22m 59s | $372K | $604K | 50x |
| Short | Bybit INJUSDT | 7.5620 | 0.0100 | get 0.0100% / 8h | 4h 22m | $21.0M | $32.0M | 50x |
Coinbase International INJ-PERP-INTX
Bybit INJUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$123.48
- Price spread: −0.119% → −0.174%
- $5.48
- Slippage, 4 orders
- −$71.45
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$210.44
- Costs to cover
- 0.924%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 35 min ago; Bybit: live order book, 1 min ago.
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 live order book, 35 min ago | 12.93 bp | 30.0 bp −$30 | 84.5 bp −$845 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 0.66 bp | 14.8 bp −$15 | 45.5 bp −$455 | 135.4 bp −$13.5K | doesn't fit |
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 | 7.5599 | −0.146% | — | — | 20x | as long as short |
| dYdX INJ-USD | 0.0000% | 1h | 7.5656 | −0.071% | $78K | $17K | 5x | as long as short |
| Deribit INJ_USDC-PERPETUAL | 0.0000% | 1h | 7.5647 | −0.083% | $6K | $24K | 25x | as long as short |
| gTrade (Gains Network) INJ/USD | L +0.0006% / S −0.0002% | 1h | 7.5620 | −0.118% | $3K | — | 150x | as long as short |
| Aevo INJ-PERP | +0.0096% | 1h | 7.5610 | −0.132% | $68K | — | 3x | as long as short |
| Hyperliquid INJ | +0.0100% | 1h | 7.5708 | −0.003% | $25.6M | $8.9M | 5x | as long as short |
| Aster INJUSDT | +0.0100% | 8h | 7.5630 | −0.106% | $140K | $422K | 20x | as long as short |
| Binance INJUSDT | +0.0100% | 8h | 7.5633 | −0.102% | $33.3M | $96.8M | 75x | as long as short |
| Bybit INJUSDTshort | +0.0100% | 8h | 7.5620 | −0.119% | $21.0M | $32.0M | 50x | |
| OKX INJ-USDT-SWAP | +0.0100% | 8h | 7.5600 | −0.145% | $6.1M | $19.2M | 50x | as long as short |
Reya INJRUSDPERP
dYdX INJ-USD
Deribit INJ_USDC-PERPETUAL
gTrade (Gains Network) INJ/USD
Aevo INJ-PERP
Hyperliquid INJ
Aster INJUSDT
Binance INJUSDT
OKX INJ-USDT-SWAPShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate INJ_USDT | +0.0100% | 8h | 7.5590 | −0.158% | $2.7M | $5.3M | 50x | as long as short |
| KuCoin INJUSDTM | +0.0100% | 8h | 7.5610 | −0.132% | $9.4M | $17.4M | 50x | as long as short |
| Bitget INJUSDT | +0.0100% | 8h | 7.5580 | −0.172% | $13.9M | $10.6M | 75x | as long as short |
| Variational Omni INJ | +0.0100% | 8h | 7.5551 | −0.210% | $265K | $151K | — | as long as short |
| ApeX Omni INJUSDT | +0.0100% | 1h | 7.5620 | −0.119% | $45K | $271K | 50x | as long as short |
| Orderly PERP_INJ_USDC | +0.0100% | 8h | 7.5640 | −0.092% | $34K | $94K | 10x | as long as short |
| Extended INJ-USD | +0.0104% | 1h | 7.5614 | −0.126% | $112K | $366K | 10x | as long as short |
| BloFin INJ-USDT | +0.0220% | 8h | 7.5630 | −0.106% | $1.7M | $5.9M | 75x | as long as short |
| GMX INJ/USD [WBTC.b-USDC] | L +0.0267% / S −0.0198% | 1h | 7.5642 | −0.090% | $29K | — | 100x | as long as short |
| BingX INJ-USDT | +0.0271% | 8h | 7.5640 | −0.092% | — | $21.2M | — | as long as short |
| MEXC INJ_USDT | +0.0285% | 8h | 7.5670 | −0.053% | $29.9M | $21.3M | 300x | as long as short |
| Kraken Futures PF_INJUSD | +0.0325% | 1h | 7.5649 | −0.081% | $820K | $3.4M | 50x | as long as short |
| Coinbase International INJ-PERP-INTXlong | +0.0688% | 1h | 7.5710 | long leg | $372K | $604K | 50x | |
| Injective INJ/USDC PERP | +0.1333% | 1h | 7.5910 | +0.264% | $316K | $12.1M | 30x | as long as short |
Gate INJ_USDT
KuCoin INJUSDTM
Bitget INJUSDT
Variational Omni INJ
ApeX Omni INJUSDT
Orderly PERP_INJ_USDC
Extended INJ-USD
BloFin INJ-USDT
GMX INJ/USD [WBTC.b-USDC]
BingX INJ-USDT
MEXC INJ_USDT
Kraken Futures PF_INJUSD
Injective INJ/USDC PERP