Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.064%

Price spread now: Injective against GRVT−0.014%7-day average +0.348% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$680.679% of the position

Long on GRVT 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 3 days (all we have)+0.215%+$21 · spread now −0.014%, 7d avg +0.348%

Together, before fees+0.674%+ Points / potential airdropGRVT: Active · farm board+$67 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 0.362% cheaper against GRVT than usual: you would sell low and buy high (spread −0.014% now, against its 7-day average of +0.348%). If the spread goes back, that is −$36 on $10k: about 5.5 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT META_USDT_Perp	740.39	0	get 0.0000% / 8h	1h 32m	$12K	$506K	10x
Short	Injective META/USDC PERP	740.28	0.0220	get 0.0028% / 1h	32m 18s	$168K	$46K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against GRVT. 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 GRVTbpFee InjectivebpOrdersPrice spread, now −0.014%Rate

Funding earned: $46.2
Price spread: −0.014% → +0.348%: −$36.23
Slippage, 4 orders: −$58.9
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$57.95
Costs to cover: 0.679%
Break-even: 15.8 days

Slippage from GRVT: live order book, 50 min ago; Injective: live order book, 52 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 GRVT live order book, 50 min ago	0.94 bp	6.4 bp −$6	11.2 bp −$112	doesn't fit	doesn't fit
Sell Injective live order book, 52 min ago	16.80 bp	35.6 bp −$36	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	740.52	+0.018%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0076%	1h	740.71	+0.044%	$395K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.38	+0.134%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.54	+0.021%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.67	+0.038%	$26.9M	$177.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.70	+0.042%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.65	+0.036%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.10	−0.039%	$329K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.70	+0.042%	$5.8M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	740.63	+0.033%	$1.6M	$2.6M	—	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_Perplong	0.0000%	8h	740.39	long leg	$12K	$506K	10x
SunX META-USDT	0.0000%	8h	740.87	+0.065%	$865	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.59	+0.028%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.25	−0.018%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.53	+0.020%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	740.61	+0.030%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.99	+0.082%	$744K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.25	−0.018%	$110K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.24	+0.115%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.69	+0.041%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.75	+0.049%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.64	+0.034%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.56	+0.023%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.40	+0.002%	$666K	$4.1M	10x	as long as short
Aftermath Perps METAUSD	+0.0054%	1h	740.91	+0.071%	$49K	$63K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.57	+0.025%	$607K	$7.3M	10x	as long as short
Phoenix META	+0.0065%	1h	740.33	−0.008%	$291K	$791K	20x	as long as short
Lighter META	+0.0072%	1h	740.97	+0.079%	$862K	$2.5M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.70	+0.042%	$1.6M	$361K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.19	−0.026%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.69	+0.041%	$1K	$24	10x	as long as short
tradeXYZ xyz:META	+0.0104%	1h	740.86	+0.064%	$68.4M	$120.6M	20x	as long as short
Aevo META-PERP	+0.0104%	1h	740.62	+0.032%	$267	—	10x	as long as short
Hotstuff META-PERP	+0.0184%	1h	740.79	+0.055%	$33K	$105	20x	as long as short
Injective META/USDC PERPshort	+0.0220%	1h	740.28	−0.014%	$168K	$46K	30x
edgeX METAUSDC	+0.0897%	4h	740.56	+0.024%	$62K	$331K	10x	as long as short