Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.065%

Price spread now: Injective against Aster+0.198%107s7-day average +0.214% · you sell dearer than you buy

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1731.729% of the position

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.461%+$46 on $10k

Price spread, last 3 days (all we have)−0.154%−$15 · spread now +0.198%, 7d avg +0.214%

Together, before fees+0.308%+ Points / potential airdropAster: Stage 5 · farm board+$31 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.214%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate. The two prices were read 107 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	Aster METAUSDT	740.07	0	get 0.0000% / 8h	7h 13m	$466K	$549K	20x
Short	Injective META/USDC PERP	741.54	0.0220	get 0.0028% / 1h	13m 36s	$171K	$48K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Aster. 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 AsterbpFee InjectivebpOrdersPrice spread, now +0.198%Rate

Funding earned: $46.2
Price spread: +0.198% → +0.214%: −$1.58
Slippage, 4 orders: −$164.88
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$128.28
Costs to cover: 1.729%
Break-even: 26.4 days

Slippage from Aster: live order book, 59 min ago; Injective: live order book, 60 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 Aster live order book, 59 min ago	9.91 bp	99.0 bp −$99	doesn't fit	doesn't fit	doesn't fit
Sell Injective live order book, 60 min ago	16.84 bp	34.3 bp −$34	doesn't fit	doesn't fit	doesn't fit

META on 36 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 META_USDC-PERPETUAL	−0.0250%	1h	739.56	−0.069%	$30K	$246K	10x	as long as short
BloFin META-USDT	−0.0120%	8h	740.35	+0.037%	$326K	$1.1M	20x	as long as short
Nado META-PERP	−0.0067%	1h	740.11	+0.005%	$463K	$457K	20x	as long as short
Aster METAUSDTlong	0.0000%	8h	740.07	long leg	$466K	$549K	20x
Extended META_24_5-USD	0.0000%	1h	740.09	+0.002%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.25	+0.024%	$27.4M	$179.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.54	+0.063%	$7.6M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.04	−0.005%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.92	−0.021%	$349K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.03	−0.006%	$5.6M	$11.1M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.24	+0.022%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.31	+0.032%	$12K	$459K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.61	+0.072%	$772	$9.3M	20x	as long as short
HTX META-USDT	0.0000%	8h	739.80	−0.037%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.59	+0.070%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	740.45	+0.051%	$752K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.61	+0.072%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.25	+0.024%	$178K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.18	+0.014%	$558K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.05	−0.003%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.63	−0.060%	$673K	$4.4M	10x	as long as short
QFEX META-USD	+0.0055%	1h	740.00	−0.010%	$2.2M	$14.2M	10x	as long as short
Paradex META-USD-PERP	+0.0061%	8h	740.25	+0.023%	—	—	5x	as long as short
Arcus META-USD	+0.0063%	1h	739.77	−0.041%	$110K	$331K	10x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.56	+0.065%	$48K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.21	+0.018%	$1.6M	$444K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.88	−0.026%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.16	+0.012%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.97	−0.013%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	739.80	−0.037%	$614K	$7.3M	10x	as long as short
tradeXYZ xyz:META	+0.0166%	1h	740.20	+0.017%	$67.7M	$121.8M	20x	as long as short
Hotstuff META-PERP	+0.0168%	1h	740.20	+0.017%	$33K	$105	20x	as long as short
Lighter META	+0.0216%	1h	740.40	+0.044%	$852K	$2.5M	20x	as long as short
Injective META/USDC PERPshort	+0.0220%	1h	741.54	+0.198%	$171K	$48K	30x
Phoenix META	+0.0259%	1h	740.56	+0.066%	$313K	$930K	20x	as long as short
edgeX METAUSDC	+0.0833%	4h	740.25	+0.023%	$62K	$336K	10x	as long as short