Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.064%

Price spread now: Injective against Gate+0.356%7-day average +0.353% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$810.811% of the position

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.460%+$46 on $10k

Price spread, last 4 days (all we have)+0.114%+$11 · spread now +0.356%, 7d avg +0.353%

Together, before fees+0.574%+$57 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.353%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate META_USDT	740.88	0	get 0.0000% / 8h	5h 40m	$345K	$5.6M	100x
Short	Injective META/USDC PERP	743.52	0.0220	get 0.0028% / 1h	40m 57s	$171K	$48K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now +0.356%Rate

Funding earned: $46.2
Price spread: +0.356% → +0.353%: $0.33
Slippage, 4 orders: −$66.1
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$34.59
Costs to cover: 0.811%
Break-even: 12.2 days

Slippage from Gate: live order book, 2 min ago; Injective: live order book, 23 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 Gate live order book, 2 min ago	5.26 bp	14.8 bp −$15	40.0 bp −$400	doesn't fit	doesn't fit
Sell Injective live order book, 23 min ago	17.75 bp	32.5 bp −$33	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
BloFin META-USDT	−0.0120%	8h	741.25	+0.050%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0033%	1h	740.89	+0.001%	$479K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.54	+0.089%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.93	+0.007%	$549K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.16	+0.037%	$27.3M	$178.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.10	+0.030%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.05	+0.023%	$5.9M	$13.3M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	740.88	long leg	$345K	$5.6M	100x
Bitget METAUSDT	0.0000%	8h	741.17	+0.039%	$5.4M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.13	+0.034%	$2.3M	$3.1M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	741.50	+0.084%	$12K	$432K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.25	+0.050%	$910	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.74	−0.019%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.07	+0.026%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.89	+0.136%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.37	+0.066%	$763K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.10	+0.030%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	740.91	+0.004%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.46	+0.078%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.28	+0.054%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.96	+0.011%	$558K	$544K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.22	+0.046%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.77	−0.015%	$702K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0059%	8h	741.07	+0.025%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0074%	1h	742.15	+0.171%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.82	+0.127%	$610K	$7.1M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.23	+0.047%	$1.6M	$510K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.95	+0.009%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.11	+0.031%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.02	+0.019%	$267	—	10x	as long as short
Injective META/USDC PERPshort	+0.0220%	1h	743.52	+0.356%	$171K	$48K	30x
Lighter META	+0.0248%	1h	741.37	+0.066%	$860K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0248%	1h	741.36	+0.065%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0276%	4h	741.35	+0.064%	$62K	$334K	10x	as long as short
tradeXYZ xyz:META	+0.0343%	1h	741.29	+0.055%	$69.1M	$120.1M	20x	as long as short
Phoenix META	+0.0496%	1h	742.14	+0.170%	$513K	$1.1M	20x	as long as short