Funding arb · Price arb /

INJ

all INJ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h +0.106%

Price spread now: GMX against Variational Omni−0.231%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. GMX is 0.231% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.231% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 7.9 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	Variational Omni INJ	7.7980	0.0100	pay 0.0100% / 8h	5h 09m	$274K	$149K	—
Short	GMX INJ/USD [WBTC.b-USDC]	7.7800	L +0.0269% / S −0.0198%	get 0.0025% / 1h	9m 08s	$29K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Variational Omni. 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 Variational OmnibpFee GMXbpOrdersPrice spread, now −0.231%Rate

Funding earned: $20.54
Price spread: −0.231% → 0.000%: −$23.08
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: −$14.54
Costs to cover: 0.120%
Break-even: 12.0 days

Slippage unknown: Variational Omni: RFQ quote, 55 min ago; GMX: no order-book sample. 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 Variational Omni RFQ quote, 55 min ago	3.35 bp	doesn't fit	41.2 bp −$412	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	7.7760	−0.282%	—	—	20x	as long as short
Deribit INJ_USDC-PERPETUAL	0.0000%	1h	7.7815	−0.211%	$6K	$24K	25x	as long as short
dYdX INJ-USD	+0.0003%	1h	7.7785	−0.250%	$80K	$17K	5x	as long as short
gTrade (Gains Network) INJ/USD	L +0.0006% / S −0.0002%	1h	7.7790	−0.243%	$3K	—	150x	as long as short
Aevo INJ-PERP	+0.0096%	1h	7.7806	−0.223%	$70K	—	3x	as long as short
Aster INJUSDT	+0.0100%	8h	7.7812	−0.215%	$149K	$413K	20x	as long as short
Binance INJUSDT	+0.0100%	8h	7.7790	−0.243%	$35.3M	$89.9M	75x	as long as short
Bybit INJUSDT	+0.0100%	8h	7.7760	−0.282%	$22.0M	$30.3M	50x	as long as short
OKX INJ-USDT-SWAP	+0.0100%	8h	7.7770	−0.269%	$6.4M	$18.4M	50x	as long as short
Gate INJ_USDT	+0.0100%	8h	7.7770	−0.269%	$2.7M	$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	7.7800	−0.231%	$9.5M	$16.4M	50x	as long as short
Bitget INJUSDT	+0.0100%	8h	7.7770	−0.269%	$14.3M	$9.7M	75x	as long as short
Variational Omni INJlong	+0.0100%	8h	7.7980	long leg	$274K	$149K	—
ApeX Omni INJUSDT	+0.0100%	1h	7.8190	+0.270%	$47K	$271K	50x	as long as short
Orderly PERP_INJ_USDC	+0.0100%	8h	7.7820	−0.205%	$35K	$92K	10x	as long as short
Extended INJ-USD	+0.0104%	1h	7.7792	−0.241%	$117K	$367K	10x	as long as short
BloFin INJ-USDT	+0.0220%	8h	7.7860	−0.154%	$1.7M	$6.3M	75x	as long as short
GMX INJ/USD [WBTC.b-USDC]short	L +0.0269% / S −0.0198%	1h	7.7800	−0.231%	$29K	—	100x
BingX INJ-USDT	+0.0271%	8h	7.7820	−0.205%	—	$21.1M	—	as long as short
MEXC INJ_USDT	+0.0285%	8h	7.7780	−0.256%	$31.9M	$20.9M	300x	as long as short
Hyperliquid INJ	+0.0336%	1h	7.7884	−0.123%	$26.2M	$8.6M	5x	as long as short
Kraken Futures PF_INJUSD	+0.0440%	1h	7.7836	−0.184%	$860K	$3.0M	50x	as long as short
Coinbase International INJ-PERP-INTX	+0.0640%	1h	7.8360	+0.488%	$385K	$578K	50x	as long as short
Injective INJ/USDC PERP	+0.1331%	1h	7.8200	+0.282%	$326K	$12.1M	30x	as long as short