Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.035%

Price spread now: KuCoin against Injective+0.126%7-day average −0.336% · you sell dearer than you buy

Net, funding: paid 7d − costs−$190as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$1651.649% of the position

Long on Injective Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.251%−$25 on $10k

Price spread, last 3 days (all we have)−0.309%−$31 · spread now +0.126%, 7d avg −0.336%

Together, before fees−0.560%−$56 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.462% dearer against Injective than usual: you sell high and buy low (spread +0.126% now, against its 7-day average of −0.336%): +$46 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective META/USDC PERP	740.66	0.0220	pay 0.0028% / 1h	55m 11s	$171K	$48K	30x
Short	KuCoin METAUSDTM	741.59	0.0100	get 0.0100% / 8h	5h 55m	$1.6M	$502K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.126%Rate

Funding earned: −$25.2
Price spread: +0.126% → −0.336%: $46.15
Slippage, 4 orders: −$152.86
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$143.93
Costs to cover: 1.649%
Break-even: never at this rate

Slippage from Injective: live order book, 9 min ago; KuCoin: live order book, 6 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, 9 min ago	17.75 bp	17.8 bp −$18	9882.4 bp −$98.8K	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	4.66 bp	49.7 bp −$50	doesn't fit	doesn't fit	doesn't fit

META on 35 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
Nado META-PERP	−0.0072%	1h	741.35	+0.093%	$479K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.63	+0.131%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.61	+0.128%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.78	+0.151%	$27.4M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.73	+0.144%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.70	+0.140%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.54	+0.119%	$355K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.82	+0.157%	$5.4M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	741.87	+0.164%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	742.09	+0.193%	$12K	$430K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	741.62	+0.130%	$1K	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.36	+0.095%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.50	+0.113%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.09	+0.193%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.92	+0.170%	$763K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.55	+0.120%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.12	+0.062%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.92	+0.170%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.79	+0.153%	$177K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.54	+0.119%	$559K	$548K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.67	+0.136%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.34	+0.092%	$703K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	741.61	+0.129%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	741.96	+0.176%	$49K	$81K	10x	as long as short
edgeX METAUSDC	+0.0083%	4h	741.83	+0.158%	$62K	$334K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	740.37	−0.039%	$610K	$7.1M	10x	as long as short
KuCoin METAUSDTMshort	+0.0100%	8h	741.59	+0.126%	$1.6M	$502K	20x
ApeX Omni METAUSDT	+0.0100%	1h	741.40	+0.100%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.87	+0.163%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.63	+0.131%	$267	—	10x	as long as short
Hotstuff META-PERP	+0.0168%	1h	741.87	+0.163%	$33K	$105	20x	as long as short
Lighter META	+0.0208%	1h	741.90	+0.167%	$861K	$2.4M	20x	as long as short
Injective META/USDC PERPlong	+0.0220%	1h	740.66	long leg	$171K	$48K	30x
tradeXYZ xyz:META	+0.0300%	1h	741.83	+0.158%	$68.5M	$119.8M	20x	as long as short
Phoenix META	+0.0313%	1h	741.60	+0.127%	$482K	$1.1M	20x	as long as short