Funding you earn now, next payment 04:00 UTC−0.0568%/8h= −62.2% APRnext payment −$0.71 per $10,000 · paid last 24h −0.069%
Price spread now: Injective against Backpack+0.737%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.401%+$40 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Injective is 0.737% dearer against Backpack than usual: you sell high and buy low (spread +0.737% now, against zero (this spread has no 7-day history yet)): +$74 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 4.3 days. Mind the row above: over the last 7 days funding on this pair paid +0.401%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack S_USDC_PERP | 0.04070 | 0.0602 | pay 0.0075% / 1h | 49m 07s | $118K | $395K | 5x |
| Short | Injective S/USDC PERP | 0.04100 | 0.0033 | get 0.0004% / 1h | 49m 07s | $2K | $37K | 12x |
Backpack S_USDC_PERP
Injective S/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$119.38
- Price spread: +0.737% → 0.000%
- $73.71
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$55.69
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Backpack: live order book, 10 min ago; Injective: 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 Backpack live order book, 10 min ago | 12.15 bp | 20.7 bp −$21 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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.
S on 25 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange SUSD | −0.9688% | 1h | 0.03960 | −2.703% | $25K | $2K | 5x | as long as short |
| Kraken Futures PF_SUSD | −0.2518% | 1h | 0.04055 | −0.368% | $34K | $13K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1376% | 1h | 0.04022 | −1.179% | $48K | $16K | 25x | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0206% / S +0.0198% | 1h | 0.04063 | −0.174% | $1K | — | 100x | as long as short |
| Reya SRUSDPERP | −0.0101% | 1h | 0.04061 | −0.219% | $4 | — | 15x | as long as short |
| Variational Omni S | −0.0101% | 4h | 0.04080 | +0.240% | $633K | $31K | — | as long as short |
| Deribit S_USDC-PERPETUAL | 0.0000% | 1h | 0.04065 | −0.123% | $68K | $10K | 10x | as long as short |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.04064 | −0.150% | $3K | — | 150x | as long as short |
| Injective S/USDC PERPshort | +0.0033% | 1h | 0.04100 | +0.737% | $2K | $37K | 12x | |
| Orderly PERP_S_USDC | +0.0058% | 4h | 0.04059 | −0.270% | $101K | $307K | 10x | as long as short |
01 Exchange SUSD
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
GMX S/USD [WBTC.b-USDC]
Reya SRUSDPERP
Variational Omni S
Deribit S_USDC-PERPETUAL
gTrade (Gains Network) S/USD
Orderly PERP_S_USDCShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter S | +0.0096% | 1h | 0.04063 | −0.172% | $171K | $154K | 5x | as long as short |
| Hyperliquid S | +0.0100% | 1h | 0.04060 | −0.256% | $1.0M | $549K | 5x | as long as short |
| Aster SUSDT | +0.0100% | 4h | 0.04066 | −0.104% | $44K | $130K | 10x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.04059 | −0.277% | $5.6M | $13.7M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.04055 | −0.369% | $5.8M | $4.6M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.04058 | −0.295% | $1.1M | $3.9M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.04061 | −0.221% | $333K | $187K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.04059 | −0.270% | $3.9M | $1.7M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.04061 | −0.221% | $1.9M | $2.7M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.04061 | −0.221% | $1.2M | $2.2M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.04056 | −0.344% | — | $6.8M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.04080 | +0.246% | $25K | $453K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.04057 | −0.316% | $233K | $1.1M | 10x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.04058 | −0.295% | $282K | $98K | 75x | as long as short |
| Backpack S_USDC_PERPlong | +0.0602% | 1h | 0.04070 | long leg | $118K | $395K | 5x |
Lighter S
Hyperliquid S
Aster SUSDT
Binance SUSDT
Bybit SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
ApeX Omni SUSDT
Extended S-USD
BloFin S-USDT