Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.035%

Price spread now: Injective against KuCoin+0.244%100s7-day average +0.324% · you sell dearer than you buy

Net, funding: paid 7d − costs−$114as 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−$1391.390% of the position

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.251%+$25 on $10k

Price spread, last 4 days (all we have)+0.005%$0 · spread now +0.244%, 7d avg +0.324%

Together, before fees+0.256%+$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 0.080% cheaper against KuCoin than usual: you would sell low and buy high (spread +0.244% now, against its 7-day average of +0.324%). If the spread goes back, that is −$8 on $10k: about 2.2 days of funding at the current rate (+$4 a day). The two prices were read 100 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	KuCoin METAUSDTM	745.35	0.0100	pay 0.0100% / 8h	3h 39m	$1.6M	$607K	20x
Short	Injective META/USDC PERP	747.17	0.0220	get 0.0028% / 1h	39m 32s	$172K	$48K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against KuCoin. 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 KuCoinbpFee InjectivebpOrdersPrice spread, now +0.244%Rate

Funding earned: $25.2
Price spread: +0.244% → +0.324%: −$8.03
Slippage, 4 orders: −$126.98
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$121.83
Costs to cover: 1.390%
Break-even: 40.8 days

Slippage from KuCoin: live order book, 1 min ago; Injective: live order book, 14 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 KuCoin live order book, 1 min ago	5.16 bp	32.2 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Injective live order book, 14 min ago	17.58 bp	33.9 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	745.98	+0.085%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0025%	1h	745.56	+0.029%	$482K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.93	−0.056%	$469K	$555K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.10	−0.033%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.32	−0.004%	$28.4M	$183.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.38	+0.004%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.35	0.000%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.12	−0.031%	$365K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.41	+0.008%	$5.4M	$11.8M	100x	as long as short
Variational Omni META	0.0000%	8h	746.02	+0.090%	$2.4M	$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	746.21	+0.115%	$12K	$453K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.95	+0.080%	$759	$9.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.09	−0.035%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.32	−0.004%	$106K	$302K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.47	+0.016%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	745.48	+0.017%	$782K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.33	−0.003%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.82	+0.063%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.45	+0.013%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.26	−0.012%	$586K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.48	+0.017%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.64	−0.095%	$786K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	745.21	−0.019%	$2.2M	$13.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	746.26	+0.123%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0091%	8h	745.12	−0.031%	—	—	5x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	745.35	long leg	$1.6M	$607K	20x
ApeX Omni METAUSDT	+0.0100%	1h	745.30	−0.007%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.56	+0.028%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.43	+0.011%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.74	+0.052%	$621K	$7.4M	10x	as long as short
Injective META/USDC PERPshort	+0.0220%	1h	747.17	+0.244%	$172K	$48K	30x
Lighter META	+0.0232%	1h	745.43	+0.011%	$864K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0248%	1h	745.38	+0.004%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0340%	1h	745.38	+0.004%	$70.3M	$121.0M	20x	as long as short
edgeX METAUSDC	+0.0482%	4h	746.22	+0.116%	$62K	$337K	10x	as long as short
Phoenix META	+0.0633%	1h	746.93	+0.212%	$777K	$1.4M	20x	as long as short