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: Injective against KuCoin−0.132%7-day average +0.336% · you buy dearer than you sell

Net, funding: paid 7d − costs−$140as in the Funding arb table

Net, price: spread back to 7d avg − costs−$212as in the Price arb table

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

Long on KuCoin Short on Injective

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)+0.315%+$32 · spread now −0.132%, 7d avg +0.336%

Together, before fees+0.566%+$57 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 0.468% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.132% now, against its 7-day average of +0.336%). If the spread goes back, that is −$47 on $10k: about 13 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin METAUSDTM	741.64	0.0100	pay 0.0100% / 8h	5h 55m	$1.6M	$502K	20x
Short	Injective META/USDC PERP	740.66	0.0220	get 0.0028% / 1h	55m 09s	$171K	$48K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against KuCoin. 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 KuCoinbpFee InjectivebpOrdersPrice spread, now −0.132%Rate

Funding earned: $25.2
Price spread: −0.132% → +0.336%: −$46.81
Slippage, 4 orders: −$152.86
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$186.49
Costs to cover: 1.649%
Break-even: 58.8 days

Slippage from KuCoin: live order book, 6 min ago; Injective: live order book, 9 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 KuCoin live order book, 6 min ago	4.66 bp	64.9 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell Injective live order book, 9 min ago	17.75 bp	32.5 bp −$33	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	−0.039%	$479K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.67	+0.004%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.61	−0.004%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.84	+0.027%	$27.4M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.79	+0.020%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.70	+0.008%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.56	−0.011%	$355K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.79	+0.020%	$5.4M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	741.87	+0.031%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	742.09	+0.060%	$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	−0.003%	$1K	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.36	−0.038%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.50	−0.019%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.09	+0.061%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.92	+0.038%	$763K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.55	−0.012%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.12	−0.070%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.92	+0.038%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.79	+0.020%	$177K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.54	−0.013%	$559K	$548K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.67	+0.004%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.34	−0.040%	$703K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	741.61	−0.004%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	741.96	+0.044%	$49K	$81K	10x	as long as short
edgeX METAUSDC	+0.0083%	4h	741.83	+0.025%	$62K	$334K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	740.37	−0.171%	$610K	$7.1M	10x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	741.64	long leg	$1.6M	$502K	20x
ApeX Omni METAUSDT	+0.0100%	1h	741.40	−0.032%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.87	+0.031%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.63	−0.001%	$267	—	10x	as long as short
Hotstuff META-PERP	+0.0168%	1h	741.87	+0.031%	$33K	$105	20x	as long as short
Lighter META	+0.0208%	1h	741.90	+0.035%	$861K	$2.4M	20x	as long as short
Injective META/USDC PERPshort	+0.0220%	1h	740.66	−0.132%	$171K	$48K	30x
tradeXYZ xyz:META	+0.0300%	1h	741.89	+0.034%	$68.5M	$119.8M	20x	as long as short
Phoenix META	+0.0313%	1h	741.60	−0.005%	$482K	$1.1M	20x	as long as short