Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.065%

Price spread now: Injective against Aster−0.145%97s7-day average +0.215% · you buy dearer than you sell

Net, funding: paid 7d − costs−$153as 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−$1991.993% of the position

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.461%+$46 on $10k

Price spread, last 3 days (all we have)+0.167%+$17 · spread now −0.145%, 7d avg +0.215%

Together, before fees+0.628%+ Points / potential airdropAster: Stage 5 · farm board+$63 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 0.360% cheaper against Aster than usual: you would sell low and buy high (spread −0.145% now, against its 7-day average of +0.215%). If the spread goes back, that is −$36 on $10k: about 5.5 days of funding at the current rate (+$7 a day). The two prices were read 97 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	Aster METAUSDT	741.73	0	get 0.0000% / 8h	5h 55m	$467K	$549K	20x
Short	Injective META/USDC PERP	740.66	0.0220	get 0.0028% / 1h	55m 50s	$171K	$48K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Aster. 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 AsterbpFee InjectivebpOrdersPrice spread, now −0.145%Rate

Funding earned: $46.2
Price spread: −0.145% → +0.215%: −$35.99
Slippage, 4 orders: −$191.3
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$189.11
Costs to cover: 1.993%
Break-even: 35.7 days

Slippage from Aster: live order book, 7 min ago; Injective: live order book, 8 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 Aster live order book, 7 min ago	9.99 bp	128.1 bp −$128	doesn't fit	doesn't fit	doesn't fit
Sell Injective live order book, 8 min ago	17.75 bp	32.5 bp −$33	doesn't fit	doesn't fit	doesn't fit

META on 35 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
Nado META-PERP	−0.0081%	1h	741.62	−0.016%	$479K	$549K	20x	as long as short
Aster METAUSDTlong	0.0000%	8h	741.73	long leg	$467K	$549K	20x
Extended META_24_5-USD	0.0000%	1h	741.74	+0.001%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.86	+0.017%	$27.4M	$179.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.65	−0.011%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.76	+0.004%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.72	−0.002%	$355K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.02	+0.039%	$5.4M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	741.87	+0.019%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.03	−0.094%	$12K	$431K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	741.79	+0.008%	$1K	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.54	−0.026%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.63	−0.014%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.23	+0.067%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.98	+0.033%	$762K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.87	+0.019%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	740.94	−0.107%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.05	+0.043%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.00	+0.036%	$177K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.78	+0.006%	$559K	$548K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.00	+0.036%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.34	−0.053%	$703K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	741.78	+0.007%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0069%	1h	741.63	−0.014%	$49K	$81K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	740.37	−0.184%	$610K	$7.1M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.78	+0.006%	$1.6M	$502K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.25	−0.200%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.10	+0.050%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.85	+0.016%	$267	—	10x	as long as short
edgeX METAUSDC	+0.0127%	4h	740.45	−0.174%	$62K	$337K	10x	as long as short
Hotstuff META-PERP	+0.0168%	1h	742.02	+0.039%	$33K	$105	20x	as long as short
Lighter META	+0.0208%	1h	741.93	+0.027%	$861K	$2.4M	20x	as long as short
Injective META/USDC PERPshort	+0.0220%	1h	740.66	−0.145%	$171K	$48K	30x
tradeXYZ xyz:META	+0.0298%	1h	741.86	+0.017%	$68.5M	$119.8M	20x	as long as short
Phoenix META	+0.0313%	1h	741.60	−0.018%	$478K	$1.1M	20x	as long as short