Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.065%

Price spread now: Injective against OKX+0.454%68s7-day average +0.293% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$770.771% of the position

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.453%+$45 on $10k

Price spread, last 4 days (all we have)−0.053%−$5 · spread now +0.454%, 7d avg +0.293%

Together, before fees+0.400%+$40 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 0.160% dearer against OKX than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.293%. The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX META-USDT-SWAP	744.70	0	get 0.0000% / 8h	7h 46m	$6.0M	$12.8M	20x
Short	Injective META/USDC PERP	748.08	0.0220	get 0.0028% / 1h	46m 08s	$177K	$52K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against OKX. 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 OKXbpFee InjectivebpOrdersPrice spread, now +0.454%Rate

Funding earned: $46.2
Price spread: +0.454% → +0.293%: $16.05
Slippage, 4 orders: −$67.07
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$14.84
Costs to cover: 0.771%
Break-even: 9.2 days

Slippage from OKX: live order book, 2 min ago; Injective: live order book, 53 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 OKX live order book, 2 min ago	0.80 bp	9.1 bp −$9	24.2 bp −$242	doesn't fit	doesn't fit
Sell Injective live order book, 53 min ago	15.27 bp	40.3 bp −$40	doesn't fit	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	745.52	+0.110%	$334K	$1.1M	20x	as long as short
Nado META-PERP	−0.0044%	1h	744.43	−0.037%	$480K	$561K	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.00	+0.175%	$483K	$603K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.79	+0.012%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.01	+0.042%	$25.7M	$191.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.71	+0.001%	$7.4M	$15.7M	100x	as long as short
OKX META-USDT-SWAPlong	0.0000%	8h	744.70	long leg	$6.0M	$12.8M	20x
Gate META_USDT	0.0000%	8h	744.34	−0.048%	$474K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.77	+0.009%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	746.52	+0.245%	$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	746.46	+0.236%	$12K	$443K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.04	+0.046%	$1K	$7.9M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.71	+0.001%	$53K	$290K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.78	+0.011%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.46	+0.102%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	745.11	+0.055%	$795K	$2.9M	20x	as long as short
QFEX META-USD	+0.0036%	1h	744.95	+0.034%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	744.48	−0.030%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.50	+0.107%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.80	+0.013%	$180K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.20	−0.067%	$566K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.86	+0.021%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.77	+0.009%	$724K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	744.92	+0.029%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	745.46	+0.102%	$49K	$90K	10x	as long as short
Pacifica META	+0.0100%	1h	744.88	+0.025%	$635	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.21	+0.068%	$1.6M	$750K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.98	+0.172%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.27	+0.077%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.04	+0.046%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	744.50	−0.027%	$652K	$8.1M	10x	as long as short
Injective META/USDC PERPshort	+0.0220%	1h	748.08	+0.454%	$177K	$52K	30x
Lighter META	+0.0224%	1h	745.28	+0.078%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0264%	1h	744.96	+0.035%	$84.2M	$132.7M	20x	as long as short
Hotstuff META-PERP	+0.0328%	1h	746.35	+0.222%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0372%	4h	746.05	+0.181%	$63K	$347K	10x	as long as short
Phoenix META	+0.0791%	1h	746.70	+0.269%	$797K	$1.5M	20x	as long as short