META

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0093%/8h= +10.2% APRnext payment +$0.12 per $10,000 · paid last 24h −0.005%

Price spread now: Phoenix against Injective−0.232%7-day average −0.314% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$660.661% of the position

Long on Injective Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.095%−$10 on $10k

Price spread, last 3 days (all we have)+0.042%+$4 · spread now −0.232%, 7d avg −0.314%

Together, before fees−0.053%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phoenix is 0.082% dearer against Injective than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.314%. Mind the row above: over the last 7 days funding on this pair cost −0.095%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective META/USDC PERP	742.96	0.0220	pay 0.0028% / 1h	23m 37s	$171K	$48K	30x
Short	Phoenix META	741.24	0.0313	get 0.0039% / 1h	23m 37s	$416K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.232%Rate

Funding earned: $19.53
Price spread: −0.232% → −0.314%: $8.24
Slippage, 4 orders: −$59.09
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$38.34
Costs to cover: 0.661%
Break-even: 20.7 days

Slippage from Injective: live order book, 45 min ago; Phoenix: live order book, 4 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, 45 min ago	14.91 bp	14.9 bp −$15	9877.0 bp −$98.8K	doesn't fit	doesn't fit
Sell Phoenix live order book, 4 min ago	2.02 bp	8.0 bp −$8	15.1 bp −$151	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	−0.0135%	1h	740.05	−0.391%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.71	−0.303%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.29	−0.359%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.49	−0.332%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.40	−0.345%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.41	−0.343%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.27	−0.362%	$353K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.52	−0.328%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.67	−0.308%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.63	−0.314%	$12K	$432K	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	740.39	−0.346%	$876	$9.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.06	−0.390%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.32	−0.355%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.86	−0.283%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.37	−0.349%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.70	−0.304%	$751K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.14	−0.380%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.59	−0.319%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.52	−0.328%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.22	−0.369%	$558K	$847K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.45	−0.338%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.99	−0.400%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	740.30	−0.357%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0069%	1h	741.29	−0.225%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.51	−0.330%	$1.6M	$483K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.11	−0.384%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.53	−0.327%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.34	−0.353%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	−0.310%	$609K	$7.2M	10x	as long as short
Lighter META	+0.0120%	1h	740.63	−0.314%	$856K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0128%	1h	740.50	−0.331%	$33K	$105	20x	as long as short
Injective META/USDC PERPlong	+0.0220%	1h	742.96	long leg	$171K	$48K	30x
tradeXYZ xyz:META	+0.0239%	1h	740.44	−0.339%	$68.3M	$119.9M	20x	as long as short
Phoenix METAshort	+0.0313%	1h	741.24	−0.232%	$416K	$1.1M	20x
edgeX METAUSDC	+0.0851%	4h	740.34	−0.352%	$62K	$334K	10x	as long as short