Funding arb · Price arb /

INJ

all INJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0202%/8h= +22.1% APRpaid last 24h +0.075%

Price spread now: BloFin against Deribit−0.184%57s7-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 BloFin

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. BloFin is 0.184% cheaper against Deribit than usual: you would sell low and buy high (spread −0.184% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 3.0 days of funding at the current rate (+$6 a day). The two prices were read 57 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	Deribit INJ_USDC-PERPETUAL	7.8404	0.0018	pay 0.0002% / 1h	3m 47s	$6K	$24K	25x
Short	BloFin INJ-USDT	7.8260	0.0220	get 0.0220% / 8h	7h 03m	$1.8M	$7.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpOrdersPrice spread, now −0.184%Rate

Funding earned: $42.42
Price spread: −0.184% → 0.000%: −$18.37
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $5.05
Costs to cover: 0.190%
Break-even: 6.2 days

Slippage unknown: Deribit: no order-book sample; BloFin: live order book, 5 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 BloFin live order book, 5 min ago	5.11 bp	14.7 bp −$15	29.1 bp −$291	doesn't fit	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	7.8362	−0.054%	—	—	20x	as long as short
gTrade (Gains Network) INJ/USD	L +0.0006% / S −0.0002%	1h	7.8403	−0.001%	$3K	—	150x	as long as short
Deribit INJ_USDC-PERPETUALlong	+0.0018%	1h	7.8404	long leg	$6K	$24K	25x
dYdX INJ-USD	+0.0030%	1h	7.8122	−0.360%	$90K	$8K	5x	as long as short
Aevo INJ-PERP	+0.0096%	1h	7.8387	−0.021%	$71K	—	3x	as long as short
Aster INJUSDT	+0.0100%	8h	7.8246	−0.202%	$149K	$428K	20x	as long as short
Binance INJUSDT	+0.0100%	8h	7.8080	−0.413%	$35.6M	$92.8M	75x	as long as short
Bybit INJUSDT	+0.0100%	8h	7.8027	−0.481%	$21.9M	$31.2M	50x	as long as short
OKX INJ-USDT-SWAP	+0.0100%	8h	7.7970	−0.554%	$6.4M	$19.2M	50x	as long as short
Gate INJ_USDT	+0.0100%	8h	7.8190	−0.273%	$2.8M	$5.0M	50x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin INJUSDTM	+0.0100%	8h	7.8120	−0.362%	$9.5M	$16.5M	50x	as long as short
Bitget INJUSDT	+0.0100%	8h	7.8060	−0.439%	$14.4M	$10.1M	75x	as long as short
Variational Omni INJ	+0.0100%	8h	7.8131	−0.349%	$278K	$154K	—	as long as short
ApeX Omni INJUSDT	+0.0100%	1h	7.8390	−0.018%	$48K	$311K	50x	as long as short
Orderly PERP_INJ_USDC	+0.0100%	8h	7.8390	−0.018%	$38K	$66K	10x	as long as short
Extended INJ-USD	+0.0104%	1h	7.8254	−0.192%	$116K	$469K	10x	as long as short
Kraken Futures PF_INJUSD	+0.0195%	1h	7.8364	−0.052%	$887K	$3.0M	50x	as long as short
BloFin INJ-USDTshort	+0.0220%	8h	7.8260	−0.184%	$1.8M	$7.0M	75x
BingX INJ-USDT	+0.0271%	8h	7.8110	−0.375%	—	$21.5M	—	as long as short
MEXC INJ_USDT	+0.0285%	8h	7.7990	−0.528%	$31.5M	$22.7M	300x	as long as short
GMX INJ/USD [WBTC.b-USDC]	L +0.0356% / S −0.0418%	1h	7.8398	−0.007%	$47K	—	100x	as long as short
Hyperliquid INJ	+0.0418%	1h	7.8190	−0.273%	$26.4M	$8.9M	5x	as long as short
Coinbase International INJ-PERP-INTX	+0.0632%	1h	7.8480	+0.097%	$384K	$637K	50x	as long as short
Injective INJ/USDC PERP	+0.1436%	1h	7.8420	+0.020%	$327K	$12.1M	30x	as long as short