Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.064%

Price spread now: Gate against Injective−0.216%7-day average −0.349% · you buy dearer than you sell

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$860.858% of the position

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.460%−$46 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now −0.216%, 7d avg −0.349%

Together, before fees−0.432%−$43 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.134% dearer against Injective than usual: you sell high and buy low (spread −0.216% now, against its 7-day average of −0.349%): +$13 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 2.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective META/USDC PERP	746.51	0.0220	pay 0.0028% / 1h	36m 41s	$172K	$46K	30x
Short	Gate META_USDT	744.90	0	get 0.0000% / 8h	36m 41s	$469K	$6.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.216%Rate

Funding earned: −$46.2
Price spread: −0.216% → −0.349%: $13.36
Slippage, 4 orders: −$70.77
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$118.63
Costs to cover: 0.858%
Break-even: never at this rate

Slippage from Injective: live order book, 2 min ago; Gate: live order book, 2 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, 2 min ago	15.27 bp	15.3 bp −$15	9876.1 bp −$98.8K	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	5.43 bp	13.3 bp −$13	34.3 bp −$343	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	745.50	−0.135%	$331K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.81	−0.227%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.26	−0.167%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.40	−0.149%	$25.1M	$188.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.36	−0.154%	$7.5M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.49	−0.137%	$6.0M	$12.7M	20x	as long as short
Gate META_USDTshort	0.0000%	8h	744.90	−0.216%	$469K	$6.2M	100x
Bitget METAUSDT	0.0000%	8h	745.36	−0.154%	$5.5M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	745.36	−0.154%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.58	−0.125%	$12K	$436K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.49	−0.137%	$811	$8.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	745.10	−0.189%	$107K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.40	−0.149%	$2.0M	$8K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0005%	1h	744.72	−0.240%	$34K	$275K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.25	−0.169%	$2.2M	$13.9M	10x	as long as short
Nado META-PERP	+0.0032%	1h	744.71	−0.241%	$480K	$560K	20x	as long as short
Lighter RH META	+0.0040%	1h	745.46	−0.141%	$789K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.04	−0.197%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.59	−0.123%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.04	−0.197%	$565K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.32	−0.159%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.22	−0.173%	$729K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	745.11	−0.187%	—	—	5x	as long as short
Popdex METAUSDT	+0.0056%	1h	745.41	−0.147%	$177K	$202K	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.24	−0.037%	$48K	$89K	10x	as long as short
Pacifica META	+0.0100%	1h	745.53	−0.131%	$25	$189	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.21	−0.174%	$1.6M	$716K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.72	−0.240%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.28	−0.165%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.12	−0.186%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.36	−0.154%	$644K	$7.9M	10x	as long as short
Injective META/USDC PERPlong	+0.0220%	1h	746.51	long leg	$172K	$46K	30x
Hotstuff META-PERP	+0.0448%	1h	745.70	−0.109%	$33K	$105	20x	as long as short
Lighter META	+0.0472%	1h	745.70	−0.109%	$1.1M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0561%	1h	745.93	−0.078%	$81.2M	$129.7M	20x	as long as short
Phoenix META	+0.0750%	1h	746.69	+0.024%	$797K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0984%	4h	745.38	−0.152%	$62K	$344K	10x	as long as short