Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0340%/8h= −37.2% APRpaid last 24h −0.070%

Price spread now: BloFin against Injective+0.228%7-day average −0.274% · you sell dearer than you buy

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$650.650% of the position

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.645%−$64 on $10k

Price spread, last 4 days (all we have)−0.270%−$27 · spread now +0.228%, 7d avg −0.274%

Together, before fees−0.915%−$91 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.502% dearer against Injective than usual: you sell high and buy low (spread +0.228% now, against its 7-day average of −0.274%): +$50 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 4.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective META/USDC PERP	745.72	0.0220	pay 0.0028% / 1h	29m 28s	$172K	$48K	30x
Short	BloFin META-USDT	747.42	−0.0120	pay 0.0120% / 8h	3h 29m	$330K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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 InjectivebpFee BloFinbpOrdersPrice spread, now +0.228%Rate

Funding earned: −$71.4
Price spread: +0.228% → −0.274%: $50.17
Slippage, 4 orders: −$52.99
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$86.24
Costs to cover: 0.650%
Break-even: never at this rate

Slippage from Injective: live order book, 24 min ago; BloFin: live order book, 3 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 Injective live order book, 24 min ago	17.58 bp	17.6 bp −$18	9881.6 bp −$98.8K	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.07 bp	6.9 bp −$7	9.8 bp −$98	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-USDTshort	−0.0120%	8h	747.42	+0.228%	$330K	$1.1M	20x
Aster METAUSDT	0.0000%	8h	746.41	+0.092%	$470K	$555K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.49	+0.103%	$554K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.68	+0.129%	$28.6M	$183.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.62	+0.121%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.63	+0.122%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.11	+0.052%	$380K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.66	+0.126%	$5.5M	$11.9M	100x	as long as short
Variational Omni META	0.0000%	8h	746.88	+0.156%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.98	+0.169%	$12K	$454K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	746.66	+0.126%	$884	$9.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.09	+0.050%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.68	+0.129%	$106K	$302K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.84	+0.150%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0005%	1h	746.41	+0.093%	$483K	$554K	20x	as long as short
Lighter RH META	+0.0032%	1h	746.80	+0.145%	$784K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.29	+0.076%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.00	+0.172%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.48	+0.102%	$587K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.67	+0.127%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.99	+0.036%	$792K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	746.44	+0.097%	$2.2M	$13.8M	10x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	747.02	+0.174%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.52	+0.107%	$1.6M	$613K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	746.19	+0.063%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.92	+0.161%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.73	+0.135%	$269	—	10x	as long as short
Paradex META-USD-PERP	+0.0109%	8h	747.33	+0.216%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.61	+0.119%	$640K	$7.5M	10x	as long as short
Popdex METAUSDT	+0.0144%	1h	746.65	+0.125%	$180K	$199K	20x	as long as short
Injective META/USDC PERPlong	+0.0220%	1h	745.72	long leg	$172K	$48K	30x
Lighter META	+0.0272%	1h	746.82	+0.148%	$866K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0272%	1h	746.85	+0.152%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0341%	4h	747.13	+0.189%	$62K	$339K	10x	as long as short
tradeXYZ xyz:META	+0.0353%	1h	746.57	+0.114%	$70.4M	$121.1M	20x	as long as short
Phoenix META	+0.0633%	1h	747.24	+0.204%	$798K	$1.4M	20x	as long as short