Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.065%

Price spread now: SunX against Injective−0.302%7-day average −0.279% · you buy dearer than you sell

Net, funding: paid 7d − costs−$161as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1141.144% of the position

Long on Injective Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.461%−$46 on $10k

Price spread, last 3 days (all we have)+0.254%+$25 · spread now −0.302%, 7d avg −0.279%

Together, before fees−0.207%−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and SunX is 0.023% cheaper against Injective than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.279%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective META/USDC PERP	742.42	0.0220	pay 0.0028% / 1h	20m 34s	$171K	$48K	30x
Short	SunX META-USDT	740.18	0	get 0.0000% / 8h	6h 20m	$494	$9.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.302%Rate

Funding earned: −$46.2
Price spread: −0.302% → −0.279%: −$2.26
Slippage, 4 orders: −$106.39
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: −$162.87
Costs to cover: 1.144%
Break-even: never at this rate

Slippage from Injective: live order book, 48 min ago; SunX: live order book, 8 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, 48 min ago	14.91 bp	14.9 bp −$15	9877.0 bp −$98.8K	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	28.16 bp	32.2 bp −$32	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	−0.0125%	1h	739.71	−0.365%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.45	−0.265%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.03	−0.322%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.33	−0.282%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.11	−0.311%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.23	−0.295%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.16	−0.304%	$353K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.29	−0.287%	$5.5M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	740.21	−0.297%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.46	−0.264%	$12K	$433K	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-USDTshort	0.0000%	8h	740.18	−0.302%	$494	$9.2M	20x
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.76	−0.358%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.09	−0.314%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.79	−0.220%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.21	−0.298%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.30	−0.286%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.97	−0.330%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.42	−0.269%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.29	−0.287%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.13	−0.308%	$558K	$847K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.26	−0.291%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.99	−0.327%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	739.99	−0.327%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.89	−0.207%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.33	−0.282%	$1.6M	$485K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.81	−0.352%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.28	−0.288%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.09	−0.314%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	−0.237%	$609K	$7.2M	10x	as long as short
Lighter META	+0.0128%	1h	740.24	−0.294%	$860K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0136%	1h	740.34	−0.280%	$33K	$105	20x	as long as short
Injective META/USDC PERPlong	+0.0220%	1h	742.42	long leg	$171K	$48K	30x
tradeXYZ xyz:META	+0.0248%	1h	740.34	−0.280%	$68.3M	$120.0M	20x	as long as short
Phoenix META	+0.0313%	1h	740.85	−0.211%	$425K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0547%	4h	740.36	−0.278%	$62K	$335K	10x	as long as short