Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.039%

Price spread now: Variational Omni against Injective−0.296%7-day average −0.307% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.188%−$19 on $10k

Price spread, last 3 days (all we have)+0.140%+$14 · spread now −0.296%, 7d avg −0.307%

Together, before fees−0.048%+ Points / potential airdropVariational Omni: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.307%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective META/USDC PERP	741.93	0.0220	pay 0.0028% / 1h	50m 50s	$169K	$46K	30x
Short	Variational Omni META	739.73	0	get 0.0000% / 8h	7h 50m	$2.3M	$3.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.296%Rate

Funding earned: −$46.2
Price spread: −0.296% → −0.307%: $1.02
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$45.2
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Injective: live order book, 23 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

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, 23 min ago	16.84 bp	16.8 bp −$17	9880.5 bp −$98.8K	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.46 bp	doesn't fit	15.6 bp −$156	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	740.01	−0.259%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.86	−0.144%	$461K	$546K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.66	−0.306%	$552K	$1.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	739.86	−0.278%	$27.4M	$179.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.95	−0.267%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.85	−0.280%	$6.0M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.44	−0.336%	$357K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	739.83	−0.283%	$5.6M	$11.1M	100x	as long as short
Variational Omni METAshort	0.0000%	8h	739.73	−0.296%	$2.3M	$3.2M	—
GRVT META_USDT_Perp	0.0000%	8h	740.20	−0.233%	$12K	$486K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	739.70	−0.301%	$952	$9.4M	20x	as long as short
HTX META-USDT	0.0000%	8h	739.55	−0.321%	$106K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.85	−0.146%	$2.0M	$7K	10x	as long as short
Nado META-PERP	+0.0026%	1h	739.40	−0.342%	$384K	$334K	20x	as long as short
Lighter RH META	+0.0032%	1h	740.00	−0.260%	$757K	$3.1M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	739.93	−0.270%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	739.84	−0.282%	$177K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.54	−0.322%	$557K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.76	−0.292%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.13	−0.377%	$735K	$4.3M	10x	as long as short
QFEX META-USD	+0.0055%	1h	739.72	−0.298%	$2.2M	$14.2M	10x	as long as short
Arcus META-USD	+0.0063%	1h	739.81	−0.286%	$110K	$331K	10x	as long as short
Paradex META-USD-PERP	+0.0070%	8h	739.53	−0.324%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0071%	1h	740.11	−0.246%	$49K	$77K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.02	−0.257%	$1.6M	$412K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.48	−0.330%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.83	−0.283%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.69	−0.302%	$266	—	10x	as long as short
tradeXYZ xyz:META	+0.0117%	1h	739.70	−0.301%	$67.6M	$121.2M	20x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	740.11	−0.245%	$602K	$7.3M	10x	as long as short
Hotstuff META-PERP	+0.0216%	1h	739.57	−0.318%	$33K	$105	20x	as long as short
Injective META/USDC PERPlong	+0.0220%	1h	741.93	long leg	$169K	$46K	30x
Lighter META	+0.0248%	1h	740.07	−0.251%	$856K	$2.4M	20x	as long as short
Phoenix META	+0.0259%	1h	740.13	−0.243%	$277K	$930K	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0345%	1h	739.78	−0.290%	$30K	$253K	10x	as long as short
edgeX METAUSDC	+0.0474%	4h	740.08	−0.250%	$62K	$333K	10x	as long as short