Funding arb · Price arb /

INJ

all INJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0311%/8h= +34.0% APRpaid last 24h +0.036%

Price spread now: Kraken Futures against OKX−0.004%7-day average +0.105% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$600.601% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.321%+$32 on $10k

Price spread, last 3 days (all we have)+0.210%+$21 · spread now −0.004%, 7d avg +0.105%

Together, before fees+0.531%+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.110% cheaper against OKX than usual: you would sell low and buy high (spread −0.004% now, against its 7-day average of +0.105%). If the spread goes back, that is −$11 on $10k: about 28 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.321% in total) that is about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX INJ-USDT-SWAP	7.7090	0.0100	pay 0.0100% / 8h	6h 38m	$6.3M	$18.9M	50x
Short	Kraken Futures PF_INJUSD	7.7087	0.0411	get 0.0051% / 1h	38m 45s	$871K	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now −0.004%Rate

Funding earned: $65.25
Price spread: −0.004% → +0.105%: −$10.96
Slippage, 4 orders: −$40.08
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$5.8
Costs to cover: 0.601%
Break-even: 7.6 days

Slippage from OKX: live order book, 5 min ago; Kraken Futures: live order book, 5 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 OKX live order book, 5 min ago	0.65 bp	13.5 bp −$14	26.0 bp −$260	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	9.05 bp	16.3 bp −$16	30.6 bp −$306	454.6 bp −$45.5K	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	7.6993	−0.125%	—	—	20x	as long as short
gTrade (Gains Network) INJ/USD	L +0.0006% / S −0.0002%	1h	7.7033	−0.074%	$3K	—	150x	as long as short
dYdX INJ-USD	+0.0041%	1h	7.6913	−0.230%	$80K	$17K	5x	as long as short
Deribit INJ_USDC-PERPETUAL	+0.0049%	1h	7.7042	−0.062%	$6K	$24K	25x	as long as short
Aevo INJ-PERP	+0.0096%	1h	7.6916	−0.226%	$70K	—	3x	as long as short
Aster INJUSDT	+0.0100%	8h	7.7049	−0.053%	$147K	$427K	20x	as long as short
Binance INJUSDT	+0.0100%	8h	7.7130	+0.052%	$35.0M	$92.6M	75x	as long as short
Bybit INJUSDT	+0.0100%	8h	7.7119	+0.038%	$21.8M	$31.1M	50x	as long as short
OKX INJ-USDT-SWAPlong	+0.0100%	8h	7.7090	long leg	$6.3M	$18.9M	50x
Gate INJ_USDT	+0.0100%	8h	7.7090	0.000%	$2.7M	$4.9M	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	7.7140	+0.065%	$9.3M	$16.6M	50x	as long as short
Bitget INJUSDT	+0.0100%	8h	7.7110	+0.026%	$14.2M	$10.3M	75x	as long as short
Variational Omni INJ	+0.0100%	8h	7.7073	−0.022%	$274K	$156K	—	as long as short
ApeX Omni INJUSDT	+0.0100%	1h	7.7320	+0.298%	$46K	$313K	50x	as long as short
Orderly PERP_INJ_USDC	+0.0100%	8h	7.7020	−0.091%	$37K	$66K	10x	as long as short
Extended INJ-USD	+0.0104%	1h	7.7121	+0.040%	$114K	$363K	10x	as long as short
BloFin INJ-USDT	+0.0220%	8h	7.7620	+0.688%	$1.8M	$6.7M	75x	as long as short
BingX INJ-USDT	+0.0271%	8h	7.7110	+0.026%	—	$21.5M	—	as long as short
GMX INJ/USD [WBTC.b-USDC]	L +0.0273% / S −0.0211%	1h	7.7012	−0.101%	$30K	—	100x	as long as short
MEXC INJ_USDT	+0.0285%	8h	7.7130	+0.052%	$31.1M	$21.2M	300x	as long as short
Hyperliquid INJ	+0.0335%	1h	7.7205	+0.149%	$26.0M	$8.8M	5x	as long as short
Kraken Futures PF_INJUSDshort	+0.0411%	1h	7.7087	−0.004%	$871K	$3.0M	50x
Coinbase International INJ-PERP-INTX	+0.0624%	1h	7.7100	+0.013%	$377K	$617K	50x	as long as short
Injective INJ/USDC PERP	+0.1354%	1h	7.7160	+0.091%	$322K	$12.1M	30x	as long as short