Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h −0.032%

Price spread now: Injective against edgeX−0.088%7-day average +0.306% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$700.702% of the position

Long on edgeX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 3 days (all we have)+0.251%+$25 · spread now −0.088%, 7d avg +0.306%

Together, before fees+0.207%+ Points / potential airdropedgeX: Active · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 0.394% cheaper against edgeX than usual: you would sell low and buy high (spread −0.088% now, against its 7-day average of +0.306%). If the spread goes back, that is −$39 on $10k: about 32 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX METAUSDC	741.82	0.0179	pay 0.0090% / 4h	14m 35s	$62K	$333K	10x
Short	Injective META/USDC PERP	741.17	0.0220	get 0.0028% / 1h	14m 35s	$169K	$46K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against edgeX. 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 edgeXbpFee InjectivebpOrdersPrice spread, now −0.088%Rate

Funding earned: $8.53
Price spread: −0.088% → +0.306%: −$39.37
Slippage, 4 orders: −$61.21
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$101.07
Costs to cover: 0.702%
Break-even: 89.9 days

Slippage from edgeX: live order book, 64 min ago; Injective: live order book, 64 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 edgeX live order book, 64 min ago	5.13 bp	9.8 bp −$10	11.4 bp −$114	doesn't fit	doesn't fit
Sell Injective live order book, 64 min ago	17.11 bp	33.6 bp −$34	doesn't fit	doesn't fit	doesn't fit

META on 36 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	741.86	+0.005%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0003%	1h	741.02	−0.108%	$385K	$332K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.66	−0.022%	$457K	$540K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.53	−0.040%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.67	−0.021%	$27.4M	$180.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.52	−0.041%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.52	−0.041%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.09	−0.099%	$344K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.57	−0.034%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.89	+0.009%	$2.3M	$3.2M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	741.81	−0.002%	$12K	$482K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.53	−0.040%	$744	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.54	−0.038%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.98	+0.021%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0027%	1h	741.54	−0.038%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.74	−0.011%	$756K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	741.22	−0.081%	$110K	$454K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.61	−0.029%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.60	−0.030%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.52	−0.041%	$550K	$849K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.63	−0.026%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.07	−0.102%	$759K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	741.43	−0.053%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0071%	1h	742.52	+0.094%	$50K	$76K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.24	−0.079%	$608K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.48	−0.046%	$1.6M	$398K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.25	−0.077%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.31	−0.069%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.39	−0.059%	$267	—	10x	as long as short
Phoenix META	+0.0129%	1h	741.77	−0.007%	$291K	$797K	20x	as long as short
Hotstuff META-PERP	+0.0168%	1h	741.57	−0.034%	$33K	$105	20x	as long as short
edgeX METAUSDClong	+0.0179%	4h	741.82	long leg	$62K	$333K	10x
Injective META/USDC PERPshort	+0.0220%	1h	741.17	−0.088%	$169K	$46K	30x
Lighter META	+0.0248%	1h	741.80	−0.003%	$859K	$2.6M	20x	as long as short
tradeXYZ xyz:META	+0.0262%	1h	741.53	−0.040%	$67.7M	$122.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0465%	1h	741.49	−0.045%	$30K	$258K	10x	as long as short