Funding you earn now, next payment 23:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.036%
Price spread now: Bybit against Injective−2.986%58s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 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. Bybit is 2.986% cheaper against Injective than usual: you would sell low and buy high (spread −2.986% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$299 on $10k: about 5 months of funding at the current rate (+$2 a day). The two prices were read 58 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 | Injective W/USDC PERP | 0.01209 | 0.0033 | pay 0.0004% / 1h | 30m 21s | $1K | $1K | 12x |
| Short | Bybit WUSDT | 0.01173 | 0.0100 | get 0.0050% / 4h | 1h 30m | $4.1M | $2.0M | 50x |
Injective W/USDC PERP
Bybit WUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Injective. 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
- $14
- Price spread: −2.986% → 0.000%
- −$298.59
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$295.61
- Costs to cover
- 0.110%
- Break-even
- 154.8 days
Slippage unknown: Injective: no order-book sample; Bybit: 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 Injective no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 2 min ago | 3.83 bp | 35.7 bp −$36 | 146.1 bp −$1,461 | doesn't fit | doesn't fit |
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.
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit W_USDC-PERPETUAL | −0.0940% | 1h | 0.01175 | −2.804% | $17K | $1K | 10x | as long as short |
| OKX W-USDT-SWAP | −0.0072% | 4h | 0.01174 | −2.911% | $1.3M | $2.1M | 20x | as long as short |
| Injective W/USDC PERPlong | +0.0033% | 1h | 0.01209 | long leg | $1K | $1K | 12x | |
| Hyperliquid W | +0.0100% | 1h | 0.01176 | −2.730% | $2.0M | $433K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01175 | −2.834% | $2.9M | $7.0M | 50x | as long as short |
| Bybit WUSDTshort | +0.0100% | 4h | 0.01173 | −2.986% | $4.1M | $2.0M | 50x | |
| Gate W_USDT | +0.0100% | 4h | 0.01178 | −2.605% | $446K | $292K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01175 | −2.829% | $12.8M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01178 | −2.564% | $478K | $246K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01177 | −2.647% | $1.3M | $580K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
OKX W-USDT-SWAP
Hyperliquid W
Binance WUSDT
Gate W_USDT
MEXC W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDT | +0.0100% | 4h | 0.01175 | −2.837% | — | $6.9M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01174 | −2.919% | $71K | $42K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01178 | −2.601% | $129K | $419K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01174 | −2.863% | $59K | $276K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0240% | 1h | 0.01180 | −2.357% | $14K | $18K | 50x | as long as short |
| Backpack W_USDC_PERP | +0.0341% | 1h | 0.01176 | −2.688% | $44K | $47K | 15x | as long as short |
| Kraken Futures PF_WUSD | +0.0398% | 1h | 0.01178 | −2.568% | $146K | $185K | 20x | as long as short |
BingX W-USDT
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Backpack W_USDC_PERP
Kraken Futures PF_WUSD