Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.035%

Price spread now: Injective against Orderly+0.157%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Injective

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Injective is 0.157% dearer against Orderly than usual: you sell high and buy low: +$16 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_META_USDC_mythos	743.61	0.0100	pay 0.0100% / 8h	7h 16m	$1K	$24	10x
Short	Injective META/USDC PERP	744.78	0.0220	get 0.0028% / 1h	16m 48s	$176K	$52K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Orderly. 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 OrderlybpFee InjectivebpOrdersPrice spread, now +0.157%Rate

Funding earned: $25.2
Price spread: +0.157% → 0.000%: $15.73
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $34.91
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Injective: live order book, 17 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 Orderly no order-book sample	—	—	—	—	—
Sell Injective live order book, 17 min ago	17.79 bp	33.9 bp −$34	doesn't fit	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	743.79	+0.024%	$336K	$1.1M	20x	as long as short
Nado META-PERP	0.0000%	1h	743.21	−0.054%	$478K	$560K	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.00	+0.052%	$479K	$620K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.73	+0.016%	$544K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.95	+0.045%	$25.9M	$191.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.00	+0.052%	$7.5M	$15.6M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.24	+0.085%	$6.0M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.43	−0.024%	$472K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.90	+0.039%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	743.23	−0.051%	$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	742.98	−0.085%	$12K	$437K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.98	+0.050%	$1K	$7.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.72	+0.015%	$36K	$270K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.69	+0.011%	$107K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.55	−0.008%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	744.00	+0.052%	$795K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.97	+0.048%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.47	−0.019%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.02	+0.055%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.93	+0.043%	$180K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.68	+0.009%	$566K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.48	−0.017%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.56	−0.141%	$741K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	743.65	+0.005%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0076%	1h	743.54	−0.009%	$51K	$92K	10x	as long as short
Pacifica META	+0.0100%	1h	743.06	−0.074%	$611	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.70	+0.012%	$1.6M	$781K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.75	−0.116%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythoslong	+0.0100%	8h	743.61	long leg	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	743.43	−0.024%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	743.28	−0.044%	$639K	$8.0M	10x	as long as short
Injective META/USDC PERPshort	+0.0220%	1h	744.78	+0.157%	$176K	$52K	30x
Hotstuff META-PERP	+0.0232%	1h	743.25	−0.048%	$33K	$105	20x	as long as short
Lighter META	+0.0296%	1h	744.17	+0.075%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0297%	1h	743.88	+0.036%	$85.5M	$134.0M	20x	as long as short
edgeX METAUSDC	+0.0762%	4h	742.87	−0.100%	$63K	$348K	10x	as long as short
Phoenix META	+0.0791%	1h	743.95	+0.046%	$794K	$1.5M	20x	as long as short