Funding arb · Price arb /

INJ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0043%/8hpaid last 24h +0.045%

Price spread now: Bitget against Deribit−0.096%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 Bitget

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. Bitget is 0.096% cheaper against Deribit than usual: you would sell low and buy high (spread −0.096% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 7.4 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit INJ_USDC-PERPETUAL	7.8275	0.0057	pay 0.0007% / 1h	5m 51s	$9K	$22K	25x
Short	Bitget INJUSDT	7.8200	0.0100	get 0.0100% / 8h	4h 05m	$14.4M	$11.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.096%Rate

Funding earned: $9.03
Price spread: −0.096% → 0.000%: −$9.58
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$19.55
Costs to cover: 0.190%
Break-even: 22.2 days

Slippage unknown: Deribit: no order-book sample; Bitget: live order book, 2 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 Bitget live order book, 2 min ago	1.28 bp	14.3 bp −$14	18.5 bp −$185	98.1 bp −$9,807	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	7.8124	−0.193%	—	—	20x	as long as short
Variational Omni INJ	0.0000%	8h	7.8405	+0.166%	$274K	$169K	—	as long as short
gTrade (Gains Network) INJ/USD	L +0.0006% / S −0.0002%	1h	7.8235	−0.052%	$3K	—	150x	as long as short
dYdX INJ-USD	+0.0009%	1h	7.8250	−0.032%	$90K	$14K	5x	as long as short
Kraken Futures PF_INJUSD	+0.0022%	1h	7.8290	+0.019%	$982K	$3.2M	50x	as long as short
Deribit INJ_USDC-PERPETUALlong	+0.0057%	1h	7.8275	long leg	$9K	$22K	25x
OKX INJ-USDT-SWAP	+0.0072%	8h	7.8190	−0.109%	$6.4M	$21.1M	50x	as long as short
Bybit INJUSDT	+0.0080%	8h	7.8200	−0.096%	$22.1M	$32.1M	50x	as long as short
Orderly PERP_INJ_USDC	+0.0089%	8h	7.8240	−0.045%	$32K	$52K	10x	as long as short
Aevo INJ-PERP	+0.0096%	1h	7.8227	−0.061%	$71K	$13K	3x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster INJUSDT	+0.0100%	8h	7.8242	−0.043%	$166K	$433K	20x	as long as short
Binance INJUSDT	+0.0100%	8h	7.8244	−0.040%	$35.9M	$96.1M	75x	as long as short
Gate INJ_USDT	+0.0100%	8h	7.8170	−0.134%	$2.8M	$5.2M	50x	as long as short
KuCoin INJUSDTM	+0.0100%	8h	7.8210	−0.083%	$9.6M	$16.5M	50x	as long as short
Bitget INJUSDTshort	+0.0100%	8h	7.8200	−0.096%	$14.4M	$11.6M	75x
ApeX Omni INJUSDT	+0.0100%	1h	7.8420	+0.185%	$48K	$345K	50x	as long as short
Extended INJ-USD	+0.0104%	1h	7.8242	−0.042%	$120K	$468K	10x	as long as short
BloFin INJ-USDT	+0.0220%	8h	7.8210	−0.083%	$1.8M	$7.5M	75x	as long as short
BingX INJ-USDT	+0.0236%	8h	7.8180	−0.121%	—	$21.2M	—	as long as short
MEXC INJ_USDT	+0.0248%	8h	7.8250	−0.032%	$32.2M	$24.5M	300x	as long as short
GMX INJ/USD [WBTC.b-USDC]	L +0.0391% / S −0.0466%	1h	7.8209	−0.085%	$47K	—	100x	as long as short
Coinbase International INJ-PERP-INTX	+0.0704%	1h	7.8600	+0.415%	$388K	$755K	50x	as long as short
Hyperliquid INJ	+0.0827%	1h	7.8340	+0.083%	$26.3M	$8.9M	5x	as long as short
Injective INJ/USDC PERP	+0.1368%	1h	7.8640	+0.466%	$322K	$12.1M	30x	as long as short