Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0340%/8h= +37.2% APRpaid last 24h +0.101%

Price spread now: Injective against BloFin+0.301%7-day average +0.275% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$720.715% of the position

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.655%+$65 on $10k

Price spread, last 4 days (all we have)−0.348%−$35 · spread now +0.301%, 7d avg +0.275%

Together, before fees+0.307%+$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Injective is 0.027% dearer against BloFin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.275%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin META-USDT	743.46	−0.0120	get 0.0120% / 8h	7h 36m	$334K	$1.1M	20x
Short	Injective META/USDC PERP	745.70	0.0220	get 0.0028% / 1h	36m 51s	$176K	$52K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now +0.301%Rate

Funding earned: $71.4
Price spread: +0.301% → +0.275%: $2.68
Slippage, 4 orders: −$59.52
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $2.53
Costs to cover: 0.715%
Break-even: 6.8 days

Slippage from BloFin: live order book, 5 min ago; Injective: live order book, 62 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 BloFin live order book, 5 min ago	0.94 bp	7.6 bp −$8	14.7 bp −$147	doesn't fit	doesn't fit
Sell Injective live order book, 62 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-USDTlong	−0.0120%	8h	743.46	long leg	$334K	$1.1M	20x
Nado META-PERP	−0.0015%	1h	742.93	−0.071%	$479K	$560K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.60	+0.018%	$487K	$603K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.94	−0.070%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.05	−0.055%	$25.8M	$191.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.20	−0.035%	$7.4M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.08	−0.051%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.00	−0.062%	$475K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.14	−0.043%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	742.98	−0.064%	$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	743.50	+0.005%	$12K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.49	+0.004%	$1K	$7.8M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	742.88	−0.078%	$48K	$280K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.29	−0.023%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.59	+0.017%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.39	−0.009%	$793K	$2.9M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.38	−0.011%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.13	−0.044%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.69	+0.031%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.49	+0.004%	$180K	$204K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.74	−0.097%	$565K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.27	−0.026%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.83	−0.085%	$722K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	743.22	−0.032%	—	—	5x	as long as short
edgeX METAUSDC	+0.0079%	4h	743.33	−0.018%	$63K	$346K	10x	as long as short
Aftermath Perps METAUSD	+0.0081%	1h	743.97	+0.069%	$51K	$93K	10x	as long as short
Pacifica META	+0.0100%	1h	742.83	−0.085%	$625	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.37	−0.012%	$1.6M	$762K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.85	−0.082%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.13	−0.044%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.96	−0.068%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	743.34	−0.016%	$639K	$8.0M	10x	as long as short
Injective META/USDC PERPshort	+0.0220%	1h	745.70	+0.301%	$176K	$52K	30x
Hotstuff META-PERP	+0.0288%	1h	743.49	+0.004%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0295%	1h	743.30	−0.022%	$84.3M	$132.7M	20x	as long as short
Lighter META	+0.0296%	1h	743.60	+0.019%	$1.2M	$2.9M	20x	as long as short
Phoenix META	+0.0791%	1h	744.37	+0.122%	$795K	$1.5M	20x	as long as short