Funding arb · Price arb /

INJ

all INJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.039%

Price spread now: Binance against Deribit−0.082%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Binance is 0.082% cheaper against Deribit than usual: you would sell low and buy high (spread −0.082% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 2.7 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit INJ_USDC-PERPETUAL	7.8491	0	get 0.0000% / 1h	23m 45s	$7K	$23K	25x
Short	Binance INJUSDT	7.8426	0.0100	get 0.0100% / 8h	23m 45s	$35.6M	$95.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 DeribitbpFee BinancebpOrdersPrice spread, now −0.082%Rate

Funding earned: $21
Price spread: −0.082% → 0.000%: −$8.24
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$4.24
Costs to cover: 0.170%
Break-even: 8.4 days

Slippage unknown: Deribit: no order-book sample; Binance: live order book, 4 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Binance live order book, 4 min ago	0.64 bp	6.6 bp −$7	17.6 bp −$176	96.4 bp −$9,636	doesn't fit

Deribit: 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	7.8434	−0.073%	—	—	20x	as long as short
dYdX INJ-USD	0.0000%	1h	7.8471	−0.026%	$91K	$8K	5x	as long as short
Deribit INJ_USDC-PERPETUALlong	0.0000%	1h	7.8491	long leg	$7K	$23K	25x
gTrade (Gains Network) INJ/USD	L +0.0006% / S −0.0002%	1h	7.8516	+0.032%	$3K	—	150x	as long as short
Aevo INJ-PERP	+0.0096%	1h	7.8480	−0.014%	$71K	$13K	3x	as long as short
Orderly PERP_INJ_USDC	+0.0099%	8h	7.8490	−0.001%	$38K	$66K	10x	as long as short
Aster INJUSDT	+0.0100%	8h	7.8530	+0.050%	$150K	$449K	20x	as long as short
Binance INJUSDTshort	+0.0100%	8h	7.8426	−0.082%	$35.6M	$95.0M	75x
Bybit INJUSDT	+0.0100%	8h	7.8342	−0.190%	$22.1M	$32.1M	50x	as long as short
OKX INJ-USDT-SWAP	+0.0100%	8h	7.8350	−0.180%	$6.4M	$20.2M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate INJ_USDT	+0.0100%	8h	7.8410	−0.103%	$2.8M	$5.1M	50x	as long as short
KuCoin INJUSDTM	+0.0100%	8h	7.8450	−0.052%	$9.5M	$16.6M	50x	as long as short
Bitget INJUSDT	+0.0100%	8h	7.8350	−0.180%	$14.5M	$10.5M	75x	as long as short
Variational Omni INJ	+0.0100%	8h	7.8456	−0.045%	$280K	$160K	—	as long as short
ApeX Omni INJUSDT	+0.0100%	1h	7.8670	+0.228%	$48K	$348K	50x	as long as short
Extended INJ-USD	+0.0104%	1h	7.8486	−0.006%	$119K	$460K	10x	as long as short
Kraken Futures PF_INJUSD	+0.0203%	1h	7.8542	+0.065%	$903K	$3.0M	50x	as long as short
BloFin INJ-USDT	+0.0220%	8h	7.8460	−0.039%	$1.8M	$7.7M	75x	as long as short
BingX INJ-USDT	+0.0271%	8h	7.8380	−0.141%	—	$21.6M	—	as long as short
MEXC INJ_USDT	+0.0285%	8h	7.8390	−0.129%	$31.7M	$22.7M	300x	as long as short
GMX INJ/USD [WBTC.b-USDC]	L +0.0356% / S −0.0418%	1h	7.8500	+0.012%	$47K	—	100x	as long as short
Hyperliquid INJ	+0.0544%	1h	7.8479	−0.015%	$26.5M	$9.5M	5x	as long as short
Coinbase International INJ-PERP-INTX	+0.0632%	1h	7.8930	+0.559%	$386K	$719K	50x	as long as short
Injective INJ/USDC PERP	+0.1298%	1h	7.8770	+0.355%	$328K	$12.1M	30x	as long as short