Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0352%/8h= +38.5% APRpaid last 24h +0.059%

Price spread now: edgeX against Injective−0.245%7-day average −0.293% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$760.758% of the position

Long on Injective Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.181%+$18 on $10k

Price spread, last 4 days (all we have)−0.222%−$22 · spread now −0.245%, 7d avg −0.293%

Together, before fees−0.042%+ Points / potential airdropedgeX: Active · farm board−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and edgeX is 0.049% dearer against Injective than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.293%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.181% in total (about 9.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective META/USDC PERP	748.08	0.0220	pay 0.0028% / 1h	48m 13s	$177K	$52K	30x
Short	edgeX METAUSDC	746.25	0.0572	get 0.0286% / 4h	3h 48m	$63K	$346K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.245%Rate

Funding earned: $73.84
Price spread: −0.245% → −0.293%: $4.85
Slippage, 4 orders: −$66.78
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $2.9
Costs to cover: 0.758%
Break-even: 6.7 days

Slippage from Injective: live order book, 51 min ago; edgeX: live order book, 50 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, 51 min ago	15.27 bp	15.3 bp −$15	9876.1 bp −$98.8K	doesn't fit	doesn't fit
Sell edgeX live order book, 50 min ago	5.50 bp	10.1 bp −$10	11.6 bp −$116	doesn't fit	doesn't fit

META on 37 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	746.49	−0.213%	$334K	$1.1M	20x	as long as short
Nado META-PERP	−0.0048%	1h	745.96	−0.283%	$481K	$561K	20x	as long as short
Aster METAUSDT	0.0000%	8h	747.00	−0.144%	$484K	$597K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.28	−0.241%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.40	−0.225%	$25.7M	$191.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.38	−0.227%	$7.5M	$15.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.24	−0.246%	$6.1M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.74	−0.313%	$474K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.26	−0.243%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	746.52	−0.208%	$2.5M	$3.0M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	745.97	−0.281%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.49	−0.213%	$1K	$7.9M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.02	−0.275%	$53K	$290K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.10	−0.265%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.37	−0.229%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	746.57	−0.202%	$796K	$2.9M	20x	as long as short
QFEX META-USD	+0.0036%	1h	746.22	−0.249%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.95	−0.285%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.41	−0.223%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.15	−0.258%	$180K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.69	−0.319%	$567K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.37	−0.229%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.70	−0.318%	$725K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	746.52	−0.209%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	746.56	−0.203%	$49K	$90K	10x	as long as short
Pacifica META	+0.0100%	1h	746.33	−0.234%	$636	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.39	−0.226%	$1.6M	$748K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.75	−0.311%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.33	−0.234%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.16	−0.257%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	746.01	−0.277%	$649K	$8.1M	10x	as long as short
Injective META/USDC PERPlong	+0.0220%	1h	748.08	long leg	$177K	$52K	30x
Lighter META	+0.0224%	1h	746.72	−0.182%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0276%	1h	745.90	−0.291%	$84.4M	$132.6M	20x	as long as short
Hotstuff META-PERP	+0.0384%	1h	746.12	−0.262%	$33K	$105	20x	as long as short
edgeX METAUSDCshort	+0.0572%	4h	746.25	−0.245%	$63K	$346K	10x
Phoenix META	+0.0791%	1h	746.41	−0.223%	$797K	$1.5M	20x	as long as short